This week's risk management news includes CIMB’s fraud solution, BofA’s new CRO, and Deutsche Bank seeking dismissal of a $1 billion U.S. government lawsuit.
July 13, 2011 | The Asian Banker Editor
Malaysia's CIMB Bank¹s fraud solution detects measurable fraud loss
Within 30 days after implementation, CIMB Bank’s new fraud solution detected and stopped 51 confirmed cases of fraud, preventing an estimated loss of approximately US$200,000. In addition, according to CIMB, success continues as additional numerous cases are detected and thwarted.
Terry Laughlin to assume chief risk officer role at Bank of America
Bank of America Corporation has announced the appointment of Terry Laughlin, who is currently leading Legacy Asset Servicing, as chief risk officer role. His transition to that role is expected to occur late in the third quarter. Until Laughlin's transition, Global Compliance Executive Paula Dominick is serving as interim chief risk officer.
Deutsche Bank seeks to end U.S. mortgage fraud case
Deutsche Bank has applied to a Manhattan judge seeking dismissal of a $1 billion government lawsuit accusing it of fraud for repeatedly lying about the quality of mortgages it handled under a federal program.
Re-disseminated by The Asian Banker
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Risk And Regulation Working GroupKeywords:BofA, CIMB Bank, Deutsche Bank
