OCC warns on cyber and fraud control lapses during Covid

OpRisk North America: Covid-induced changes in operations and working practices creating openings for bad actors, says senior regulator

Office of the Comptroller of the Currency

Banks are being urged by federal regulators to ensure their risk control environments are able to withstand the heightened operational risks brought on by a combination of rapid changes in working practices and increasing fraud and cyber threats during the Covid-19 pandemic.

“Risk and change management capabilities are needed not only to address the operational and credit risks associated with many of the pandemic response programmers, but also to manage reputation, compliance and – looking at

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