Operational risk

221 articles tagged with this keyword

/devops

Mizuho to roll out generative AI to employees

Japanese bank Mizuho has made Microsoft’s OpenAI platform available to its 45,000 workers.

/security

UK banks expect rise in cyber crime due to economic downturn

The cost-of-living crisis in the UK is likely to lead to a rise in cyber crime, suggests recently published research.

/crime

European banks hit by Russian hackers

A gang of pro-Russian hactivists have claimed credit for a series of attacks on the IT systems of banks and financial institutions across Europe.

/regulation

EU Parliament in favour of tougher rules for AI Act

The European Parliament lawmakers reached agreement on a strict set of rules on AI use in the EU to rein in AI systems and ensure transparency and security.

/wealth

UK government announces delay to Pension Dashboard initiative

The UK's wealth management and pensions industry has expressed its disappointment at the announcement of a delay to the much anticipated Pensions Dashboard project

/security

Central Bank of Ireland blocks staff use of ChatGPT

Ireland's central bank has become the latest financial institution to ban its employees from using the artificial intelligence (AI) chatbot ChatGPT.

/people

N26 chief risk officer quits

German digital bank N26 has lost its third senior executive in a year, with chief risk officer Thomas Grosse leaving for personal reasons.

/regulation

Top banks back $24 million round in operational risk fintech Acin

A consortium of top US, European and UK banks have backed a $24 million Series B round in operational risk network Acin.

/crime

EBA publishes fraud taxonomy

The Euro Banking Association (EBA) has made its payment fraud taxonomy available to the public in a bid to curb the rising threats to the European payments system.

/regulation

Bunq wins AML case against Dutch Central Bank

Dutch challenger bank Bunq has hailed a "landmark" verdict in the Dutch courts over the use of artificial intelligence (AI) for anti-money laundering processes.

/payments

PayPal to ride out social media backlash over misinformation policy change

Online payments giant PayPal is unlikely to suffer any significant impact from a customer backlash over a supposed charge for users spreading misinformation, acccording to financial analysts.

/people

ICMA appoints first fintech head

The International Capital Market Association (ICMA) has named Georgina Jarratt as its first ever head of fintech and digitalisation in recognition of the growing influence of digital technology on capital markets.

/crime

UK orders crypto exchanges to report sanctions breaches

Crypto exchanges operating in the UK will face more reporting requirements over sanctions breaches under new rules introduced in the wake of Russia's war in Ukraine.

/crypto

Crypto-crime revenue drops by 65% - report

Revenue derived from cryptocurrency-related crime is down by 65% in the first half of 2022 compared to the corresponding period in 2021.

/regulation

FCA fines Citi £12.5m for trading oversight failings

The UK's Financial Conduct Authority (FCA) has levied a £12.5m fine against Citigroup Global Markets over past failures to police its trading activity

/regulation

Banks to pay $1bn over traders' use of WhatsApp

A handful of Wall Street banks are preparing to pay up to $200m each to settle a case with the Securities and Exchanges Commission (SEC) and the Commodity Futures Trading Commission (CFTC) over the use of WhatsApp messages.

/startups

Starling posts first profitable year

UK digital bank Starling has turned a £32m profit for the last financial year, marking its first full year of profitability.

/security

Firms failing to monitor social messaging

Financial services firms are falling short in their efforts to monitor employees' use of social media messaging despite ear-marking communications surveillance as an investment priority, according to recent research.

/startups

Fintech valuations fall by half a trillion

Nearly half a trillion dollars has been wiped off the valuation of fintech firms so far this year when their current value is compared to their peak valuation, according to CB Insights.

/crypto

Coinbase gets crypto service provider approval in Italy

Crypto firm Coinbase has been granted approval by Italy's financial regulator to operate as a crypto assets service provider.