The recent investigation into allegations of money laundering involving Bank of New York underscores the enormity -- an estimated $10 billion -- of what can happen when operational risk management is weak or lacking.

The obvious question for financial institutions is, of course, "How could this happen?" After all, most institutions have accurate tools in place for measuring risk levels in almost all areas of business.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.