Failure to enforce internal controls: top 10 operational risks for 2013
Kweku Adoboli's fraudulent activity at UBS, which caused a loss of $2.3 billion, went undetected because of serious weaknesses in systems and controls. UBS says it has remedied the faults, but can the...
Ex-UBS trader convicted of fraud, but found not guilty of false accounting
Insurance Risk and BNY Mellon have conducted a survey to look at how insurance companies are preparing for the new regime and the opportunities and challenges that the changes will bring.
More Jerome kerviel articles
Jurors are warned by judge to be cautious about John Hughes's evidence on the final day of UBS trial
Accusations of fraud against a trader have parallels with Adoboli and Kerviel
Increased controls or regulation are not the answers to rogue trading. Real incentives in all functions, comprehensive capture systems and harmonised control chains under a powerful COO, and reinforced financial training for support staff would be more...
This paper discusses a number of diverse considerations that risk managers need to incorporate into their thought processes and recurring procedures if they are to fulfill their role more effectively in the future