Risk Management

The panel has been tasked with reviewing the existing status of digitisation of payments in the country, identifying the current gaps in the ecosystem and suggesting ways to bridge them and assessing the current levels of digital payments in financial inclusion. It will also “suggest measures to strengthen the safety and security of digital payments… (and) a road map for increasing customer confidence and trust while accessing financial services through digital modes”.

Colossal erosion transformed ancient Earth’s surface: Study

Jan 8, 2019 | Facts, Risk Management, Trends, Facts

“Our study unifies a diverse set of geological observations and may prompt a fundamental reassessment of the relationship between erosion, sedimentation and sea level, on billion-year timescales,” said Brenhin Keller, a postdoctoral fellow at the Berkeley Geochronology Center in the US.

Swiss Re launches FLOW, insurance for companies exposed to high or low water levels

Jan 8, 2019 | International News, Non-Life, Reinsurance, Risk Management

Unlike traditional insurance covers, which often require loss investigations and adjudication, FLOW provides pay-out of fixed amounts based on a defined index, for example each day the index remains below or above the defined index threshold value

Long way before AI systems take over humans jobs: Study

Jan 8, 2019 | Facts, Risk Management, Technology, Trends, Facts

Researchers at university of California, Los Angeles (UCLA) in the US conducted various experiments which showed that it is easy to fool the deep learning neural networks.”The machines have severe limitations that we need to understand,” said Philip Kellman, a UCLA professor and senior author of the study published in the journal PLOS Computational Biology

RBI issues guidelines for tokenisation of card transactions

Jan 8, 2019 | Indian News, Regulation, Risk Management, Technology

RBI has given permission to offer tokenised card transactions services to all channels such as near field communication (NFC), magnetic secure transmission (MST) based contactless transactions, in-app payments, QR code-based payments or token storage mechanisms, including cloud, secure element and trusted execution environment.

262 terror attacks killed 595 people in Pakistan in 2018: Report

Jan 7, 2019 | Eco/Invest/Demography, International News, Non-Life, Risk Management

“Balochistan was the only region where terrorism-related killings surged, by over 23 per cent, when compared to 2017; most of these fatalities resulted from attacks by religiously-inspired militant groups,” according to the report.

Around 171 attacks in entire Pakistan were perpetrated by the Tehreek-e-Taliban Pakistan (TTP) and its splinter groups – Jamaatul Ahrar, Hizbul Ahrar and others, which killed 449 people.
Nationalist insurgent groups, mostly in Balochistan and a few in Sindh, carried out 80 attacks, martyring 96 people.

How Big Tech is using Artificial Intelligence to stop Hackers

Jan 6, 2019 | International News, Risk Management, Technology

Hackers are themselves famously adaptable, of course, so they too could harness machine learning to create fresh mischief and overwhelm the new defenses. For example, they could figure out how companies train their systems and use the data to evade or corrupt the algorithms. The big cloud services companies are painfully aware that the foe is a moving target but argue that the new technology will help tilt the balance in favor of the good guys.

Robots haven’t eliminated many jobs – so far: World Bank

Jan 6, 2019 | Blog, Risk Management, Technology, Trends, Facts

In its report, the World Bank instead stresses that the nature of work in the future will evolve. While technological advances in automation are starting to handle thousands of routine tasks and will eliminate many low-skill jobs in advanced economies and developing countries, it’s also creating opportunities for different, more productive and more creative jobs

Modi govt plans ‘sanitised list’ of CAs & companies, to collect KYC details

Jan 6, 2019 | Eco/Invest/Demography, Indian News, Risk Management

Against 3.3 million individuals who had Director Identification Numbers (DINs), little over 1.6 million have complied with the KYC requirement. DIN is a unique number allotted to individuals who are eligible to have directorship on the boards of registered companies