Based on secret assessments, a senior U.S. bank regulator discovered that 11 out of 22 large banks under its supervision have “weak” or “insufficient” risk management for a wide range of hazards, from personnel errors to cyberattacks, Bloomberg News reported on Sunday.
In private evaluations conducted by the Office of the Comptroller of the Currency, around one-third of the banks had ratings of 3 or below on a 5-point scale for their overall risk management.
Acting Comptroller Michael Hsu has “continuously discussed the need for banks to guard against complacency and actively manage their risks in order to build and maintain trust in the federal banking system,” the OCC said in a statement to Bloomberg.
Laptops 1000The allegation comes after a two-day worldwide computer systems outage that lasted for hours and affected a variety of industries, including banking, shipping, healthcare, and airlines.
