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That's Operational Risk, Asia!
News, regulatory developments and industry perspectives on Operational risk

External Event Watch
Once-in-a-decade typhoon closes in on Japan, Channel News Asia |16 Oct 2013

Recent industry stories and news articles

Indonesian couple sue Singapore StanChart for over $3m,The Straits Times Oct 11
By Jonathan Kwok

A COUPLE who lost a bundle in a failed foreign exchange trade during the 2008 financial crisis are suing Standard Chartered Bank (StanChart) here and claiming that it breached its duties.[Continue]


Telecom executive detained for net banking fraud,Times of India Aug 29
By Raj Shekhar

NEW DELHI: The net banking fraud busted on Tuesday had the involvement of insiders of telecom companies and banks. A telecom company executive was detained on Wednesday. This person allegedly provided SIM cards to the gang which needed around 50 of them for each heist. He said there were several gangs in the capital [Continue]


Virus infects 16,000 computers in Japan Steals user IDs and passwords to empty bank account, Asian Banking and Finance Aug 12
By Staff Reporter, Japan

The National Police Agency or NPA said it handled 600 confirmed cases of unauthorized money transfers from 2011 until this July. Investigators suspect a single group could be responsible for many of the 400 cases reported so far this year [Continue]


Rest of The World
Adobe warns 2.9 million customers of data breach after cyber-attack,

The Guardian Oct 3
By Adam Gabbatt in New York

The computer software company Adobe has been hacked, potentially compromising the data of 2.9 million customers, the company revealed on Thursday. Adobe said "sophisticated attacks" had been carried out "very recently".[Continue]


Exchanges' ratings may suffer as operational risk rises: S&P, Reuters Sept 20
NEW YORK | Fri Sep 20, 2013 11:31am EDT

(Reuters) - A spate of technical snafus at securities exchanges around the world are a sign of the growing risks they face and may trigger downgrades of their credit ratings, Standard and Poor's said. Although its credit analysis focuses more on cash flow generation, S&P said in a report published Thursday that it believed rising operational risk was becoming a more important……[Continue]


US regulator sues 13 banks in Libor rate-fixing case, CNA Sept 24
POSTED: 24 Sep 2013 16:56

NEW YORK CITY: The US credit union regulator has filed an anti-trust lawsuit against 13 major international banks as part of the global crackdown in the Libor rate-rigging scandal.

The National Credit Union Administration (NCUA) said it aims to recover some of the funds lost by five corporate credit unions it supervised and which have since……[Continue]


November - December

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