Risk Management
Stablecoins at Risk of Failing Under New Risk Management Rules, says FSB
The Financial Stability Board (FSB) has raised concerns over the ability of existing stablecoins to pass new risk management rules currently in development. This comes after the collapse of FTX and other events over the past year, which exposed the volatility and structural vulnerabilities of crypto-assets.
SEC Finalizes T+1 Settlement Cycle to Enhance Risk Management
The US Securities and Exchange Commission (SEC) has recently implemented new rule changes aimed at decreasing risks involved in securities clearance and settlement by reducing the settlement cycle to one business day, or T+1.
US regulators warn banks of crypto exposure risks
US regulators have warned banks to be on their guard against the risks posed by exposure to the crypto asset sector in the wake of the implosion of crypto-exchange FTX and heightened volatility in the market.
Cryptoassets in the metaverse could cause systemic risk - BofE
If an open and decentralised metaverse grows, the risks from cryptoassets may scale to have systemic financial stability consequences, say a pair of Bank of England wonks.
Third-Party breaches are wreaking havoc on the healthcare industry
Third-party data breaches are becoming an increasingly pressing issue in the healthcare sector, with victims doubling year after year. In fact, according to Black Kite’s Third-Party Breach Report healthcare has become the most targeted industry for cyberattacks. This is due to the sensitive nature of the information stored by healthcare organizations, including personal health information (PHI) and payment information.
Hodge Bank selects LexisNexis Risk Solutions
Source: LexisNexis Risk Solutions
Data and analytics firm, LexisNexis Risk Solutions, has been selected to provide Hodge with a full end-to-end solution for customer onboarding and ongoing monitoring, incorporating AML screening, transaction monitoring and case management, all within a single platform.
BIS and Iosco agree 'same risk, same rules' principles for systemic stablecoins
The Bank for International Settlements' Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) have published final guidance confirming that stablecoin arrangements should observe international standards for payment, clearing and settlement systems.
Climate risk digital solutions market will skyrocket to $4 billion by 2027, Verdantix forecasts
Source: Verdantix
Rising losses from extreme weather are driving a global surge in investment in climate risk digital solutions, a new report from leading independent research and advisory firm Verdantix says.
Target Group hires Monzo’s Griffin as chief risk officer
Source: Target Group
Target Group, the operational transformation, business processing and software provider has today announced that Kathy Griffin will be joining as Chief Risk Officer, starting immediately.
The Disruption House to deliver ESG verification of fintech on Temenos Exchange
Source: The Disruption House
The Disruption House, providers of in-depth risk analytics on the ESG and business resiliency capabilities of Private and Venture Funded firms, announced that their scorecards and reports will be available for many of the firms hosted on the Temenos Exchange open marketplace for fintech solutions.
Fed to measure banks' exposure to climate risk
The six largest US banks have been tasked by the Federal Reserve to analyse the impact of trial scenarios for both physical and transition risks related to climate change on real estate assets in their portfolios.
Diebold Nixdorf and Hawk AI collaborate for AMLsurveillance
Source: Hawk AI
Hawk AI, Germany’s leading software provider of anti-money laundering surveillance and anti-fraud technology for banks, payment firms, and fintech’s, today announced a new partnership with Diebold Nixdorf (NYSE: DBD), a global leader in driving connected commerce for the financial and retail industries.
Financial regulators issued with climate risk guidelines
The Basel Committee on Banking Supervision has issued a set of climate risk guidelines to help financial regulators across the world assess bank preparedness in a co-ordinated fashion.