A story that has gotten little attention but is noteworthy is the $100 million apparently stolen via cyber-fraud in February from the Bangladesh central bank account in the U.S. The ongoing saga has caused the Federal Reserve Bank of New York, Bangladesh Bank and SWIFT officials to issue a statement on May 10, 2016. “Representatives… Read More >>
CFTC Mulls Fixes for the Op Risks of Innovation
The CFTC is keeping an eye on the operational and technology risks that may hinder IT advances in key commodity, futures and derivatives markets, and will be responding, says Timothy Massad, CFTC chairman, in a keynote address this week before the annual meeting of the World Federation of Exchanges in Doha, Qatar. In particular, Massad… Read More >>
Does Markit Have a ‘Game-Changer’ for Mitigating Third-Party Op Risk?
(Editor’s note: Markit, a financial information services vendor, has launched a seminal offering, dubbed the Know Your Third Party (KY3P) service. It’s a centralized, cloud-based data hub intended to help financial services firms better manage the operational risk that comes with third-party risk providers. The service, hosted by Dell Cloud Services, can be used for… Read More >>
