Risk Management Association of India
Global body dedicated to education, research and development on Risk Management
Reserve Bank of India (RBI) Deputy Governor Swaminathan J has cautioned banks and other financial institutions against weakening internal controls in their pursuit of digital transformation, faster transactions and improved customer convenience. He emphasised that technological advancements, including artificial intelligence Read More …
Global professional services firm PricewaterhouseCoopers (PwC) has confirmed a cybersecurity incident involving an external service provider responsible for hosting its employee learning records. The disclosure follows allegations by the cyber extortion group Everest that it had stolen approximately 590 gigabytes Read More …
The Bank of Japan (BOJ) has warned that rapid growth in artificial intelligence (AI)-related investments, increasing financial interconnectedness and sophisticated cyber threats could create new vulnerabilities for Japan’s banking sector and the broader financial system. The central bank has emphasised Read More …
The State Bank of India (SBI), the country’s largest lender, has initiated a cybersecurity investigation following the suspected exposure of customer information on the dark web. A preliminary examination of approximately 3.75 lakh records identified 3,897 customer records containing personally Read More …
The Reserve Bank of India (RBI) has called for stronger cybersecurity safeguards across banks, payment system operators and other regulated financial institutions in response to emerging threats involving artificial intelligence (AI)-enabled cyberattacks. According to an advisory issued on 19 October Read More …
A Hyderabad-based non-banking financial company (NBFC) has reportedly suffered a cyber fraud involving more than ₹3.3 crore, allegedly transferred from its bank account through 183 unauthorised transactions within just 87 minutes. The incident has raised serious concerns regarding application programming Read More …
Operational failures can arise from people, processes, systems, technology, third parties, and external events. A process breakdown, system outage, vendor failure, human error, or unexpected disruption can quickly create financial losses, customer impact, regulatory concerns, and reputational consequences. Effective Operational Read More …
Urban Cooperative Banks play an important role in extending banking services to local communities, small businesses, traders, professionals and individuals. Their strong local presence and customer relationships make them an important part of India’s banking system. At the same time, Read More …
On 27 February 2025, TARGET Services suffered a major operational incident affecting the infrastructure through which central-bank money, securities and collateral move across Europe. TARGET Services comprise: T2, which processes high-value euro payments; TARGET2-Securities, which provides securities settlement; TARGET Instant Read More …
Few corporate case studies capture the full scope of operational risk, governance failure, and safety culture breakdown as completely as the Boeing 737 MAX crisis. Two fatal crashes, the Lion Air flight in October 2018 and the Ethiopian Airlines flight Read More …