Oscillating between ‘Know Your Customer’ and ‘Know Your Bank’

In a previous post, we examined some elements of Know Your Customer (KYC) programs. Now I’m going to drill deeper into what happens when the interests and objectives of customers, banks and regulators don’t converge. In many cases, this gives rise to disconnects or the possibility of disconnects. For example, when the interests/objectives of the bank and regulator don’t converge, lapses occur. Or when the interest/objectives of the bank and customers don’t converge, experience lags. And when the disconnect is between the customer and the regulator, alternate mechanisms…

M&A Cyber-insecurity and (Mis-)conceptions

2016 marks a record-breaking year for M&A activities. Unfortunately, it’s also another year of a large number of data breaches and hacks becoming front-page news. CxOs, law firms, dealmakers and investors involved in M&A generally ignore Cyber risks that have implication on deal execution, deal value, reputation; post-M&A liabilities, operations and bottom-line; or acquirer vulnerability. This is partly based on awareness, lack of knowledge or misconceptions about Cyber risks and assessments.

Governance, Risk and Compliance (GRC) – Pain Point or Competitive Advantage?

When I started my career about 25 years ago, I was  assigned a project around regulatory reporting (the good old German 5th KWG), most of my colleagues were quite concerned about whether this would be a good career move:

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