The Risk Universe is a digital information resource that seeks to shed some much needed illumination onto the world of operational risk management.

WhatsApp: What's the problem?
Some of the world’s largest banks are facing a combined US$1bn in fines for allowing employees to converse with other employees and clients using WhatsApp and similar unauthorised messaging apps. In our latest report, we take a look at the potential issues involved with communicating via WhatsApp and the changes banks are making to avoid additional fines.
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Latest News

RBA outage autopsy reveals real-time payments mess

The Reserve Bank of Australia has lifted the lid on a crippling outage that halted transactions flowing through the New Payments Platform (NPP) offline in mid-October.

Data leak of 500 million WhatsApp users, risk of bank fraud!

WhatsApp is considered the most secure messaging platform. But now these claims are being exposed. Yes, the news of WhatsApp data leak has been received. According to the report, the mobile numbers of WhatsApp users of about 84 countries have been leaked. These mobile numbers have been made available for sale, which is very dangerous for the safety of WhatsApp users. Due to this, in the coming days, WhatsApp users may have to face many types of fraud including bank fraud.

Extinction Rebellion women 'caused £100,000 of damage when they smashed Barclays HQ windows in Canary Wharf demo'

Extinction Rebellion climate protesters caused almost £100,000-worth of damage after smashing glass windows during a demonstration at the headquarters of Barclays bank, a court has heard.

JPMorgan and Deutsche Bank sued by Epstein victims

JPMorgan Chase and Deutsche Bank have been sued by victims of deceased sex offender Jeffrey Epstein, who accuse the lenders of aiding sex trafficking.

ING slapped with anti-money laundering undertaking after investigation

Dutch bank ING has vowed to fix its anti-money laundering and counterterrorism financing systems, after an investigation by financial crimes regulator AUSTRAC found flaws in the lender’s compliance.

Citigroup cited as lone large, complex bank with ‘shortcoming’ in its 2021 living will

A “shortcoming” was identified in the resolution plan (or “living will”) for Citigroup, Inc. – related to data the firm manages — based on results of a review of the 2021 wills, according to statements released Wednesday by two federal banking regulators.

Morgan Stanley failed to supervise nine brokers’ high-risk recommendations

The Financial Industry Regulatory Authority sent another warning this week to firms that fail to properly follow up on red flags.

Russian KillNet shuts down EU Parliament website with DDoS

Pro-Kremlin KillNet hackers took down the website of the European Parliament on Wednesday in a DDoS attack that came just hours after the legislative body declared Russia a terrorist state. The website was still down late in the day as part of a string of hacktivist attacks against East European and Balkan states.

Goldman Sachs to pay $4m penalty over ESG fund claims

Goldman Sachs has agreed to pay a $4mn penalty over US regulatory charges that the bank’s asset management division misled customers about environmental, social and governance (ESG) investments.

BNY Mellon’s Frankfurt offices raided in German tax scandal probe

Bank of New York Mellon’s Frankfurt offices are being raided by Cologne prosecutors as part of their vast investigation into the controversial Cum-Ex scandal that has increasingly ensnared Wall Street’s biggest banks.

ASX takes A$250m hit after scrapping DLT-based Chess replacement project

The Australian Securities Exchange (ASX) is pulling the plug on its much-delayed blockchain-based post-trade network, writing off about A$250 million.

Indian securities depository CDSL detects malware in few internal machines

Central Depository Services (India) Ltd (CDSL) said on Friday it detected malware in a few of its internal machines and was working with cyber security advisors to analyse the impact.

 
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