Risk Management Association of India
Global body dedicated to education, research and development on Risk Management
Reserve Bank of India (RBI) Governor Sanjay Malhotra has cautioned banks and financial institutions about emerging cybersecurity threats associated with artificial intelligence (AI), emphasising the need to strengthen IT infrastructure, safeguard customer information and promptly address technological vulnerabilities. Speaking at 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 …
Leading US financial institutions, including Morgan Stanley, JPMorgan Chase and Charles Schwab, have begun restricting unauthorised third-party artificial intelligence (AI) agents from accessing customer accounts and conducting financial transactions. The measures reflect growing concerns over autonomous AI systems operating within 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 …
The rapid digital transformation of India’s banking and financial services sector has fundamentally changed the nature, complexity and interconnectedness of financial risks. Banks, Non-Banking Financial Companies (NBFCs), financial institutions and other regulated entities increasingly depend on third-party service providers, cloud Read More …
Trustero has launched Trustero Third-Party Risk Management (TPRM), extending its artificial intelligence-powered governance, risk and compliance (GRC) platform to help organisations assess risks associated with vendors and business partners. The new capability is designed to reduce the manual effort involved Read More …
Commonwealth Bank of Australia (CBA) has strengthened its third-party risk management capabilities as financial institutions face increasing challenges from technology dependencies, outsourcing arrangements and interconnected digital ecosystems. The upgrade reflects the growing importance of managing risks arising from external vendors, Read More …
Very few banks build their AI systems entirely in house. Credit scoring engines, fraud detection platforms, chatbots, document processing tools, and collections analytics increasingly arrive through a vendor relationship, whether a specialised fintech, a large technology provider, or a niche Read More …