This week's risk management news includes China officials leaking economic data, Wells Fargo statement misprints, and AIG’s failure to move case against BAML.
October 25, 2011 | The Asian Banker Editor
Chinese officials jailed for leaking economic data
Two Chinese officials have been jailed for leaking key economic data that can move global financial markets, in a breach that triggered a government crackdown to tighten secrecy. The two officials from the central bank and China's statistics agency were convicted of giving stock brokerage employees details of nine indicators including inflation, economic growth and retail sales.
Wells Fargo misprints account information
Wells Fargo is blaming printer error on the distribution of thousands of bank statements to new customers containing the account information of other customers, including names, addresses, transaction details and balance information.
AIG loses bid to move $10 billion fraud case against BAML
A federal judge rejected American International Group’s request to move its $10 billion mortgage fraud lawsuit against Bank of America back to a New York state court, where AIG believed the case belonged.
Re-disseminated by The Asian Banker
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Risk And Regulation Working GroupKeywords:Wells Fargo, Economic Data, AIG, BAML