Regulators call on banks to focus on cross-border e-banking risks

BASEL - Banks need to integrate cross-border electronic banking risks into their overall risk management framework, the Basel Committee said in a paper released today.

The Committee urged banks contemplating investment in cross-border e-banking ventures to recognise and manage associated strategic, operational, reputation and country risks. This includes ensuring compliance with the laws and regulations of the bank’s home country and those of foreign countries that could assert jurisdiction over e-banking services directed at their residents.

The paper, issued on behalf of the Basel Committee by the Bank for International Settlements (BIS), recommended

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