Information security
Cyber insurers accused of lax underwriting standards
Loss data becoming more granular and diverse, but critics highlight pricing inconsistencies among underwriters
US Treasury using network theory to combat cyber threats
Targeted attacks and random threats call for different defences, financial research unit finds
Bank cyber chiefs grope for sound risk models
Vast scope of threats makes modelling unfeasible, say practitioners
‘Boiling the ocean’: GDPR data demands overwhelm banks
Repapering of existing contracts could stretch beyond May 2018, forcing dealers to rely on regulatory forbearance
PRA urges insurers to act on ‘silent cyber’ risks
Watchdog urges underwriters to embrace cross-policy stress-testing to identify exposure to claims from non-specified risks
Regulator of the year: OCC
Operational Risk Awards 2017: Agency encourages, and if necessary, forces banks to bolster defences
OpRisk Europe and North America wrap: cyber, 3LOD and the SMA
Future of op risk modelling a hot topic at conference, along with evolving three lines of defence framework
OCC warns on cyber risks from subpar patches at US banks
Regulator says banks have good track record overall, but exams reveal weaknesses
Better data key to cyber risk underwriting, say practitioners
Lack of loss data means predictions are a problem
Fed official: banks must recover from cyber attack in two hours
“If you’re waiting for us to give you regulation, you’re behind the curve,” says Fed’s Ferlazzo
Cyber insurance not a risk management tool, say banks
Lengthy payout mechanism of cyber policies makes it ineffectual against large losses, dealers argue
Cloud control
Sponsored feature: OpenLink
Regulators told to play greater role in cyber security
Companies can’t battle threats on their own, CFTC told
Nickel-and-Dimon: why bank CEOs loathe op risk capital
JP Morgan’s Jamie Dimon and ex-StanChart CEO Peter Sands are no fans of the RWA approach
Banks rush to protect against data breach fines
Cost of implementing GDPR ‘could reach hundreds of millions’ for largest banks
DTCC’s Bodson criticises ‘dumb-ass’ cyber risk rules
Requirement to recover from cyber attack within two hours unrealistic, he says
Emerging cyber threats share a familiar root cause
Whether in banking or energy, most cyber breaches start with human error
Integrating cyber risk into an operational risk framework
Risk managers should feed each level of the company only the risk information it needs
Cyber assault on Russian banks mirrors Swift attacks
‘Advanced persistent threat’ attacks threaten wholesale payment networks
Energy firms assess costs of cyber attacks
Analytics are considered key to cyber risk management
Op risk survey shows the insidious effects of political risk
Rise in geopolitical turmoil drives other risk factors, suggests a network analysis of 2017's survey
Energy CROs: cyber risk can only grow
Major cyber attacks on energy trading and infrastructure considered inevitable