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 Three Lines versus Three Lines of Defence

 14th October 2020
 The Risk Universe
 Carrie Cook
 Three Lines vs 3LoD Report.pdf
The Three Lines of Defence has had a makeover, but does it offer greater clarity, or are the lines more blurred than ever before? In this latest report for RiskBusiness, I discuss some of the key changes and most common criticisms of the IIA's new Three Lines Model for risk management and corporate governance.

 The operational risks inherent in LIBOR transition

 28th September 2020
 The Risk Universe
 Carrie Cook
 Oprisks and LIBOR.pdf
Even if you’ve never worked in the financial services industry, it’s likely you will have at least heard of LIBOR (London
Interbank Offered Rate) and probably for all the wrong reasons. The term has become synonymous with corrupt bankers,
market manipulation and record-breaking financial penalties. As a result, by the end of 2021, what was once dubbed the
“world’s most important number” will be phased out altogether. In this report, Carrie Cook looks at the operational risks involved with the transition process and what firms should be doing to prepare.

 Enterprise Risk Management

 16th September 2020
 The Guardian
 Enterprise Risk Management.pdf
A supplement to The Guardian on Enterprise Risk Management.

 Deepfakes: What the financial services sector needs to know

 1st September 2020
 The Risk Universe
 Carrie Cook
Cyber criminals are continuously working to find new and more successful ways of duping unsuspecting individuals into handing over their money. Recent years have seen a huge increase in the use of ‘deepfakes,’ a type of identity fraud that leverages artificial intelligence to create frighteningly convincing fake images, videos and voice recordings. In this report, produced in partnership with cyber security experts at the Optimal Risk Group, Carrie Cook takes a look at some of the key issues financial institutions should be aware of to protect themselves against deepfake fraud.

 Credit where it's due

 Risk Universe by RiskBusiness
 Carrie Cook
 Credit where it's due.pdf
Carrie Cook explores the many risks faced by financial institutions around the globe as they implement government-backed Coronavirus financial recovery schemes.


 Bendigo and Adelaide Bank penalised for overstating liquidity

The prudential regulator commissioned an independent review of Bendigo and Adelaide Bank's compliance with liquidity benchmarks while penalising the bank after it self-reported multiple breaches of key benchmarks going back to 2015.

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 BaFin orders Herods Consulting GmbH to immediately stop and wind up unauthorized money remittance business

As of 14 August 2020, BaFin issued a cease and desist order to Herods Consulting GmbH to stop and wind up the unauthorized money remittance business immediately.

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 International Ponzi fraudster jailed over £20m investment scam

Foreign exchange trader Joseph Lewis has been sentenced to over five years in prison for his role in a £20.5m ($26.7m, €22.6m) investment scam.

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