Union Home Minister Amit Shah "Everyone is questioning the...
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Meta to pay $1.4 billion to settle Texas facial recognition data lawsuit
The lawsuit, filed in 2022, was the first major case to be brought...
Global Nat Cat insured losses at $ 62bn in H1 24, significantly higher than 10-yr average of $ 37bn, Munich Re report
Thomas Blunck,Member of the Board of Management, Munich Re...
Why Organizations Cover Up Sex Abuse Scandals
James Campbell Quick, a University of Texas professor who has studied sexual harassment in the workplace, says large institutions commonly encounter such problems. What matters, he says, is how they’re tackled by the leadership.
International risk management body PREMIA launches India chapter
“A gap in accounting skills do exist after the adoption of Core Banking Solutions by the Indian banks. This skill gap may lead to a fraud in a bank by a particular employee who understands the system better than others. There are few recent instances of big frauds happening due to this ethics deficit and the knowledge of few ethical staff members bringing these frauds into light, Rabi N Mishra, Principal General Manager, Reserve Bank of India
Govt to make it mandatory for unlisted cos to issue shares in demat form
According to the officials, having shares in the dematerialised form would also bolster the Know Your Client (KYC) framework for unlisted companies and prevent instances such as pledging of duplicate shares.
Finance Ministry asks PSU bank CEOs to check frauds in NPAs or face penal action
More than a dozen companies undergoing bankruptcy resolution are being reviewed by banks and investigating agencies for fraudulent activities including diversion of funds
Catastrophes cause global economic losses of $36 bn in H1 2018
Total global economic losses from disasters in H1 2018 were USD 36 billion, significantly down from USD 64 billion in
H1 2017 and well below average Global insured losses from disasters were USD 20 billion in H1 2018, down from USD 30 billion in H1 2017
Cosmos Bank fraud: NPCI says its systems fully secure
In a release, NPCI said one of its network members has confirmed about a malware based attack on their system which has caused a fraud loss of over Rs 90 crore.
Indian banks inadequately prepared for cyber attacks: Experts
“While there is growing awareness to regularly update an organisation’s cyber preparedness and defence mechanisms, a large number of institutions wake up to this reality only post an incident which often leads to a loss of reputation and/or financial misappropriation,” Nikhil Bedi, Partner, Deloitte India
First Jury in a Roundup Cancer Trial orders Monsanto to pay $289 million
The jury at San Francisco’s Superior Court of California deliberated for three days before finding that Monsanto had failed to warn Johnson and other consumers of the cancer risks posed by its weed killers.
Indian firms lagging on compliance of EU data protection rule: EY
“Law such as EU’s GDPR and India’s draft Personal Data Protection Bill 2018 are bringing tectonic shifts in the world of privacy. Recent cases of data leakage and hacking has brought the impact on privacy, data protection, consumer rights, trust in digital platforms and cybersecurity to the forefront,” Arpinder Singh, Partner and Head for India and Emerging Markets, Forensic and Integrity Services, EY, said
UIDAI plans Aadhaar crash course on risks
UIDAI’s proposed FAQs argue that mere knowledge of Aadhaar cannot harm an individual or be misused for impersonation, as it is fortified with additional security layers like biometrics and OTP (one time password) authentication, making it more secure than other identity documents