Four years after the release of the Principles of Risk Data Aggregation by the Basel Committee on Banking Supervision, the financial industry still faces challenges in fully establishing a “control environment” for data management, according to the EDM Council’s 2017 Data Management Benchmarking Survey Report.
A US jury has indicted a Russian man arrested earlier this week in Greece accused of helping to launder more than $4 billion in bitcoin, including some obtained from the infamous Mt. Gox hack. In a coordinated move, the bitcoin exchange he operated has been slapped with a $110 million fine by American authorities for AML law violations.
Global VC investment for FinTech in H1 2017 attracted $6.5 billion of VC investment with 787 deals, a 45% decrease year on year, according to statistics compiled through Pitchbook by Innovate Finance, the not-for-profit membership association for global FinTech.
Sword Active Risk, a supplier of specialist risk management software and services, has announced its Deal Registration program, a new commercial Partner arrangement designed specifically to support Risk Consultants. Independent Risk Consultants are now able to introduce Active Risk Manager (ARM) to projects and receive a referral fee. The new initiative underlines Sword Active Risk’s commitment and participation in the risk community. Many Risk Consultants already attend the annual ARM Global Conferences, which have become noted events for risk management professionals across the world to share best practice and network with peers.
London will cement its place as a world-leader in the fight against cyber attacks and threats with an investment of up to £14.5 million in a new innovation centre to develop the next of generation of cyber security technology to help keep the nation safe.
Barely months after coming up for air over the fake accounting scandal, Wells Fargo is facing further scrutiny, this time over a data breach that saw the accounts of 50,000 of its wealthiest clients accidentally leaked to a former employee.