Supervisors face reputational risk from fraud, Basel Committee says

Surveys shows some forms of digital fraud are rising, but data gaps are “significant”, paper warns

The Bank for International Settlements, Basel
The Bank for International Settlements, Basel
Photo: Ulrich Roth

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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