Banks facing double threats

Cyber crime and political upheaval are the two biggest financial crime risks facing banks over the next year, a report has said. A survey of 200 professionals across banking and asset management found 44 per cent felt new criminal techniques, such as cyber crime, posed the largest threat to firms.

However, the report by Lexisnexis Risk Solutions said 37 per cent believed geopolitical change, such as tighter sanctions imposed by the US, presented an even greater financial crime risk.