The Risk Universe was a digital information resource that sought to shed some much needed illumination onto the world of operational risk management. Published between January 2012 and June 2017, the 66 issues covered a wide range of topical subjects, which remain available to anyone who subscribed to the magazine during its lifetime. This website is no longer updated or maintained.

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

Santander fined for repeated anti-money laundering failures

Santander UK Plc was fined £107.7 million pounds ($132 million) by the UK financial watchdog over repeated anti-money laundering failures.

Judge's report hammers three ex-Wells Fargo executives

Three former high-level Wells Fargo executives may be forced to pay millions of dollars in penalties after a judge assigned them significant culpability for the bank's fake-accounts scandal.

FCA fines three broker firms £4,775,200 for failures relating to the detection of market abuse

The FCA has fined BGC Brokers LP, GFI Brokers Limited and GFI Securities Limited (together, BGC/GFI) £4,775,200 for failing to ensure they had appropriate systems and controls in place to effectively detect market abuse.

Dutch Rabobank in money laundering, terror finance probe

Dutch prosecutors are probing Rabobank for contravening anti-terror financing and money laundering legislation, the Netherlands' second-largest money-lender announced on Wednesday.

FCA publishes decision notices against three bond traders for market manipulation

The FCA has published Decision Notices given to Diego Urra, Jorge Lopez Gonzalez and Poojan Sheth, three bond traders, for market abuse.

Deutsche bank, Rabobank hit with EU antitrust charge over bond cartel

Deutsche Bank and Rabobank were charged by EU antitrust regulators on Tuesday of taking part in a government bond cartel, the latest move against a sector which has racked up millions of euros in fines for various competition violations.

Rackspace confirms outage was caused by ransomware attack

Texas-based cloud computing provider Rackspace has confirmed today that a ransomware attack is behind an ongoing Hosted Exchange outage described as an "isolated disruption."

Russian state-owned bank VTB hit by massive distributed-denial-of-service attack

Russia’s No. 2 bank VTB was hit by the largest cyber attack in its history, it said on Tuesday, warning of temporary difficulties in accessing its mobile app and website, but assuring customers that their data remained safe.

FSS urges Shinhan Bank to bolster anti-money laundering system

The Financial Supervisory Service (FSS) has asked Shinhan Bank to improve its anti-money laundering (AML) management system, particularly in the areas of digital asset businesses and overseas branches.

HSBC fined €82,000 by FIAU for anti-money laundering breaches

HSBC has been fined €82,000 by the Financial Intelligence Analysis Unit (FIAU) for violating local anti-money-laundering laws.

Finra panel orders Morgan Stanley to pay $11.7m to client over covered call strategy

Morgan Stanley has been ordered by a Finra panel to pay $11.7 million to a client over a covered call option strategy that caused big tech stock positions to be whisked out of the client’s account, a result that he says cost him millions.

Citadel Securities is accused of illicit trading tactics

Northwest Biotherapeutics is a biotechnology company that trades over-the-counter (OTC). The company has filed a lawsuit in Manhattan federal court in which it alleges that market makers including Citadel Securities, Susquehanna, and several others have repeatedly engaged in the practice of "spoofing."
 
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