Esma, Eiopa ‘closely monitoring’ cyber risk amid Russia threat
Supervisors ESMA and EIOPA are “closely monitoring” cyber risks in Europe’s asset management industry amid concerns that rising tensions over Ukraine may spark Russian-backed cyber attacks on Europe’s economic infrastructure.
Covid-19 undermines KYC compliance
A majority of nearly 3,000 risk managers admit that the pandemic has led to more careless due diligence checks and a more sloppy handling of the Know Your Customer (KYC) principle. In addition, 71 per cent of respondents report that cybercrime is harder to contain because of remote working.