The CBIRC (China Banking and Insurance Regulatory Commission) has fined Agricultural Bank of China CNY 4.2 million (USD 650,000) over poor data security management.

Regulation Asia - Regulation Asia

Source

Published on Feb. 4th, 2021 Published on Feb. 4th, 2021

MSTAR comment

Several regulators have recently imposed fines for risk management failures. The MSTAR platform does not yet contain this scenario. Nevertheless, it can be considered as an intermediate risk between "Cyber" and "Conduct", as the fine relates to failures to protect customers.

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MSTAR News

Sept. 20th, 2021

ORX Forum

ELSEWARE/MSTAR will be speaking on climate stress on operational risk at the ORX forum on September 23. In particular, we will be presenting the work we have done on this topic with the American Bankers Association and a group of banks.