Operational Risks And Resilience European Banking Authority

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Legal and reputational risks go beyond those associated to digitalisation and ICT-related dangers as properly as ML/TF risks, and embrace reputational injury for the banks concerned. Dangers associated to the implementation of restrictive measures in reference to the Russian war of aggression in opposition to Ukraine continue to be a precedence for banks. Based on the RAQ results, banks appear to attribute lowering significance to ML/TF threat, with 13% agreement that it’s a main driver of operational danger (18% agreement in autumn 2023). The EBA in January published a primary set of rules underneath DORA aimed toward enhancing digital operational resilience by strengthening financial institutions’ ICT and third-party risk administration and incident reporting frameworks.

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