Attacks on US demonstrate extremes of operational risk

FRONT PAGE NEWS

NEW YORK -- The September 11 attacks that devastated New York's financial district showed in stark terms the enormous scale of the risks posed by extreme operational hazards, operational risk managers and analysts said in the wake of the catastrophe.

The implications for op risk management will take months to absorb. But financial services firms around the world are likely to remain prime targets for the terrorists believed to be behind the attacks, said analysts.

And governments expect the f

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