Risk

All public companies could be on the hook for detailing climate-related risks — including those of clients. The data-gathering burden might be especially heavy for banks, industry officials say, because they lend to and invest in so many companies across so many industries.

Sixty-one percent of executives at large U.S. banks said their institution would be prepared to comply with the kind of testing now happening in the U.K., according to a new survey. But experts question whether bankers are underestimating the data-gathering challenges ahead.

The huge buffers that banks built up over the pandemic are protecting the financial system from looming threats, regulators told President Biden during a meeting that also touched on climate change, extension of credit to the underserved and other topics.

Goldman Sachs Group and JPMorgan Chase are ditching safeguards on credit lines to CLO managers, to defend their market share as arrangers in the lucrative business.

A slew of websites operated by financial institutions, governments and airlines including Hong Kong Exchanges & Clearing and Australia’s central bank went down briefly Thursday in the second global internet outage in two weeks.

The Federal Reserve has privately told Deutsche Bank that its compliance programs aren’t up to snuff, signaling that the scandal-plagued bank is failing to adhere to a number of past accords with U.S. regulators, according to people familiar with the matter.

In addressing systemic risks posed by fluctuating cryptocurrency values, the Federal Reserve and other central banks must acknowledge that quantitative easing has driven up the price of digital assets.

Cryptojacking is a particularly dangerous attack, but there are ways to fight back, Marc Laliberte of WatchGuard writes.

The digital migration caused new risks, and new responsibilities for security professionals.

Setting a tougher tone than Trump-era regulators, acting Comptroller of the Currency Michael Hsu warned against excessive risk-taking during the economic recovery and called for better interagency coordination on fintech standards.

The concept amplifies spending visibility from the center of the business way out to its edges, creating more transparency.

As contactless payments skyrocket, the chance for fraud gets larger, says ClearSales's Rafael Lourenco.

Texas moved closer to enacting a law that would ban government work with Wall Street banks whose policies restrict the firearms industry, marking a pushback from Republicans in the gun-friendly state against corporations taking sides in America’s political fights.

While the eventual emergence from lockdown will help ease the pressure on overworked compliance departments, there is still an obvious need for tools that will make the anti-money laundering process simpler and stress-free, says SmartSearch's Martin Cheek.

JPMorgan Chase was warned by its compliance team over the “great risk” of corruption just days before it made the last of three transfers that totaled $875 million to a former Nigerian oil minister.

The visibility of automated transactions provides a clear view of the flow of transactions, says Hummingbird's Joe Robinson.

Magecart attacks, which target e-commerce websites in order to steal personal data during the checkout process, are picking up steam with cyber attackers, says PermeterX's Ameet Naik.

Kerry Killinger, former CEO of Washington Mutual, says the asset bubbles and increased consumer debt that contributed to his company's failure are reappearing.

It’s time organizations use the same type of data security approach to meet Nacha compliance as they do to secure PANs in accordance with PCI DSS, says comforte AG's Trevor Morgan.

Merchant service providers need dynamic cybersecurity assessment tools to identify the key areas of risk in their portfolio in near real-time, says ZeroRisk's Neira Jones.