BNP Paribas is the latest in a long line of financial service companies to be penalised for misconduct during the financial crisis on both sides of the Atlantic.
A study by the London-based insurance market warns that economic losses could be similar to losses unleashed by Superstorm Sandy in 2012.
Nearly one in five organisations now regularly use artificial intelligence, according to the latest reports.
The frequency of cyber attacks is growing as well as the amount of money lost to financial crime. Statistics show fines for failing to prevent and detect financial crime have grown by 55,000% over the past 10 years.
In the wake of the Petya ransomware attack on businesses in Russia, Ukraine and Western Europe, there are several basic steps that companies and organisations can take to improve their resilience.
A report by the Lloyd’s of London insurance market finds that the sector is second only to financial services as the target of attacks.
The new anti-money laundering rules should make it tougher to fund terrorist activities, but won’t fully solve the problem of illicit money flows.
Europe’s fourth AML directive should make the prevention of money laundering easier, a poll of UK finance professionals suggests.
The rapid rise in the incidence and audacity of cyberattacks has caught many organisations unprepared. This article outlines the basic elements of a robust defence policy.