Supervisors face reputational risk from fraud, Basel Committee says
Banks and their supervisors could both face reputational damage from digital fraud if lenders suffer major losses, the Basel Committee on Banking Supervision warns.
“High-profile” fraud cases could leave both banks and supervisors exposed to negative press coverage and “public discontent”, the committee says in a discussion paper, published today (November 15). “This could translate to a broader, system-wide loss of trust in the integrity and resilience of banks that could lead to, for example
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