A Peach Of A Problem

The European Union (EU) remains fragmented along linguistic, cultural and political lines. Yet despite these differences, what it has achieved in terms of economic and monetary union deserves a great deal of credit. The European Commission (EC) is not resting on its laurels. In addition to the 12 member states that have already adopted the euro – and the three member states that remain outside the eurozone – the EU has expanded east with the accession... [Read More...]

Rogue Trading For Dummies

The recent sentencing of AIB’s John Rusnak has shifted focus back onto the risk banks face from their own staff. Kris Sangani tells how Rusnak could have been stopped with the right checks in place John Rusnak was jailed in February 2003 for seven and a half years without parole and has been ordered to pay $1000 a month back to his former employer, Allfirst of Boston who lost $691 million through his rogue trading activities, for a period of five... [Read More...]

Identity Theft

It is easy to assume someone else’s identity (ID), points out Peter Warner, vice-president of security risk management for Mastercard Europe. “When I walked in here this morning and someone gave me my badge, I had to announce who I was but I didn’t have to hand any identity over. I could have said that I was Joe Smith, for example, and I could have assumed that identity during the break and played the part of one of my competitors,”... [Read More...]