The Risk Universe is a website and a monthly digital magazine that seeks to shed some much needed illumination onto the world of operational risk management.

Updating your whistleblowing policy
Recent high-profile examples of whistleblowing in action, such as the Panama Papers and Cambridge Analytica scandals, have highlighted the importance of creating a whistleblowing procedure which allows employees to feel assured that any issues they raise will be taken seriously and dealt with in confidence. Our latest report looks at upcoming developments in the area of whistleblowing policy, including the EU Whistleblowing Directive, the ISO whistleblowing guidance currently under development (ISO 37002) and the FCA’s recent awareness campaign.
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Latest News

Cyber attack disrupts container operations at major South African port

A cyber attack has disrupted container operations at the South African port of Cape Town, an email seen by Reuters on Thursday said.

Taishin Bank fined NT$30m for lax internal controls

The Financial Supervisory Commission (FSC) yesterday fined Taishin International Bank (台新銀行) a record NT$30 million (US$1.07 million) for oversight failure, after its staff stole NT$347 million from customers.

TSB and the RBNZ reach agreement in precedent-setting court case, proposing TSB pays $3.85 million for breaching anti-money laundering law

TSB has agreed to pay a $3.85 million fine, after admitting the systems it used to prevent money laundering were inadequate.

Ernst & Young accused of concealing NMC Health audit fraud

Ernst & Young faces accusations it “actively concealed” a six-year fraud from investors in a fresh lawsuit over its auditing work for the troubled NMC Health.

Barclays, HSBC, Lloyds and others hit by major DNS outage

Late Thursday afternoon Akamai reported a problem with its Edge DNS service, resulting in outages at thousands of websites.

Two Sri Lanka banks fined for failing due diligence rules

Sri Lanka’s Financial Intelligence Unit, which implements anti-money laundering and terror finance laws has fined two banks for failing to meet customer due diligence rules.

KPMG settles legal claims after failing to spot fraud at Chinese group

KPMG will pay about HK$650m (US$84m) to settle legal claims after failing to identify fraud at a Chinese timber company whose calamitous initial public offering led to a backlash against poor listing standards in Hong Kong.

Lloyds Bank, Halifax and Bank of Scotland websites and apps crash in huge IT glitch

Lloyds Bank, Halifax and Bank of Scotland customers are all struggling to access their bank accounts today due to an IT outage affecting the banking group.

UBS fined $8 million over compliance failures in ETP sale

The US Securities and Exchange Commission (SEC) has imposed a civil penalty of $8 million on UBS Financial Services Inc. for compliance failures relating to sales of a volatility-linked exchange-traded product (ETP).

FCA staff report hundreds of laptops, tablets and mobiles lost or stolen over three years

Staff at the Financial Conduct Authority (FCA) have reported hundreds of electronic devices lost or stolen over the past three years, a Freedom of Information request by Griffin Law found.

TD says U.S. online banking glitch fixed, cites service provider issues

Toronto-Dominion Bank has resolved technical problems caused by issues at a service provider, that affected its U.S. customers and employees on Thursday, the Canadian lender said.

Deutsche Bank’s Spanish mis-selling scandal widens

Deutsche Bank may have mis-sold foreign exchange derivatives to more than 50 companies in Spain, suggesting the scope of a scandal that has already led to the exit of two senior bankers is wider than previously thought, according to people familiar with the matter.
 
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