The Enron Scandal (2001) - International Banker
2021年9月29日 · A ugust 2021 marked the 20 th anniversary of arguably the most notorious corporate-accounting scandal of all time. It may not have been the biggest in dollar terms, or even the most severe in terms of criminality and personnel held culpable, but the Enron Corp. scandal of 2001 remains perhaps the most impactful of all time.
The Generative AI Revolution in Banking: Transforming Research, …
2024年10月8日 · GenAI’s potential for metamorphosing operations has captured the attention of banks worldwide. While still new, the technology is already upgrading processes in three key areas: research, risk assessment and compliance. As banks increasingly embrace GenAI’s advantages, they must plan carefully and ensure necessary governance is in place.
The WorldCom Scandal (2002) - International Banker
2021年9月29日 · 28.6K . C oming hot on the heels of accounting scandals involving Enron and Tyco, both of which sent financial markets into tailspins, the fraud committed by WorldCom, one of the world’s biggest telecommunications companies, ended up dwarfing even those infamous crimes in terms of sheer numbers.. By June 2002, the United States’ second-largest long …
TD Bank's $3 Billion Fine Reveals the Shortcomings of the Banking ...
2024年11月20日 · TD Bank, Canadian-owned but the 10th largest US bank, consented to a $3-billion settlement with US regulators over its decade-long failures to monitor customer transactions, becoming the first US bank in history to plead guilty to conspiracy to commit money laundering. The case highlights the onus on banks to ensure AML compliance.
The Dollar Still Dominates, but De-dollarization Is Unstoppable
2024年1月2日 · The United States enjoys a special advantage because of the preeminent status of its dollar as the world’s leading reserve currency and medium of exchange. Other countries are increasingly moving toward knocking the dollar off its throne through de-dollarization. The trend is unstoppable, but it’s unlikely the dollar will lose much of its authority any time soon.
Sanctions Notwithstanding, Russia’s Economy Continues to …
2024年10月31日 · 852. By Nicholas Larsen, International Banker. O n October 22, the International Monetary Fund (IMF) released the latest edition of its “World Economic Outlook”. Published twice a year, the report’s October issue confirmed that the organisation expects the Russian economy to grow by 3.6 percent this year, up from the 3.2-percent expansion stated …
Artificial Intelligence: Opportunities and Risks for the Financial Sector
2024年12月11日 · 139. By Leonardo Gambacorta, Head of Innovation and Digital Economy Unit, and Vatsala Shreeti, Economist, Bank for International Settlements (BIS). T he introduction of large language models (LLMs) has brought artificial intelligence (AI) into the spotlight. The availability of significant computing resources and vast troves of data is unlocking the potential …
Egypt Is on the Cusp of a Digital-Banking Boom
2024年10月23日 · 364. By Joseph Moss, International Banker. W ith the upcoming launch of its first digital bank, Egypt now has a massive opportunity to boost financial inclusion across the country, not to mention lay the groundwork for a thoroughly modern, customer-centric banking system. In early May, the Central Bank of Egypt (CBE) granted preliminary approval to Misr …
Why Soybean Prices Have Continued to Fall Throughout 2024
2024年7月18日 · 1.1K. By Hilary Schmidt, International Banker. I n mid-July, the price of soybean futures contracts dipped below $11 per bushel for the first time since November 2020, as the U.S. Department of Agriculture (USDA) and other major analysts reported more favourable than expected supply conditions for the global market, as well as weak export demand. With the …
Geopolitical Risk and Default Risk of Global Systemically Important …
2024年9月30日 · Banks that are deemed “global systemically important banks” enjoy advantages over those that are not, especially during geopolitical tensions. This may heighten the financial system’s instability risks. A recent study used CDS spreads to investigate the correlation between geopolitical risks and the default risks of G-SIBs and non-G-SIBs.