GRC Report Staff

The Office of the Comptroller of the Currency (OCC) has issued its Semiannual Risk Perspective for Fall 2024, painting a mixed picture of the federal banking system. While banks remain fundamentally sound, the OCC is waving red flags on growing risks—from stubborn commercial real estate stress to cyber threats and increasingly sophisticated fraud schemes. In short, this isn’t the time for banks to get comfortable.

The European Banking Authority (EBA) has unveiled the results of its fourth and final round of reviews, examining how competent authorities across 30 EU/EEA member states are tackling the ever-present risks of money laundering and terrorist financing (ML/TF) in the banking sector. With this report, the EBA has completed its comprehensive assessment of the authorities responsible for AML/CFT supervision, offering a detailed snapshot of the progress made—and the work that remains.

Turkey has just handed Google a significant blow in the form of a 2.6 billion Turkish Lira fine—roughly $75 million—marking yet another chapter in the ongoing global scrutiny of Google’s dominance in the ad tech industry. The decision from Turkey's Competition Authority (TCA) underscores mounting regulatory pressure on the tech giant’s practices in the online advertising space.

In a world where banks depend on third-party vendors for critical services, a new report from SecurityScorecard paints a concerning picture of the vulnerabilities lurking in the financial sector. According to the findings, a staggering 97% of the top 100 U.S. banks were impacted by third-party data breaches over the past year, revealing just how interconnected—and fragile—the banking supply chain has become.

The Securities and Exchange Commission (SEC) has charged Cantor Fitzgerald, L.P. with misleading investors over its handling of two special purpose acquisition companies (SPACs). The firm, which has agreed to pay a $6.75 million civil penalty to settle the case, found itself under scrutiny for bending the truth about its early dealings with potential merger targets.

Last month, Deloitte released a report analyzing potential pathways to decarbonizing the steel industry. The report highlights the critical role of the value chain and collaboration in achieving decarbonization, alongside key hurdles and potential solutions for progressing toward net-zero emissions.

ParkMobile recently reached a $32.8 million settlement over a data breach that affected 21 million users. This breach, which happened back in 2021, is a reminder of how much more needs to be done to protect our personal data, even with widely used platforms. For anyone working in IT security or risk management, this case raises some serious red flags about how we’re securing sensitive information.