by Dina-Perla Portnaar

Recently, I wrote the article Why organisations need a Chief Spiritual Officer. From the higher consciousness community, I received praise, support and above all confirmation through recognition. For example: “kind of something that you dare to go public with this idea in the Dutch business world, but I so agree”. From the business world, there were a number of critical reactions: should managers and professionals not just use common sense? Is this bla bla or spiritual garbage? Finally, should there be a separate function for meaning and personal growth, similar to the Chief Happiness Officers we have and others?
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China will not stop its cyberespionage campaign against America any time soon, an expert told CNBC. Michael Fuchs, a senior fellow at the Center for American Progress, said the attacks will continue for the foreseeable future. “I think it is very fair to say that China sees this cyberespionage for economic purposes as a necessary component of its national strategy to grow economically and to become a more powerful country, and that it is not going to stop — at least not with the current set of pressure that is being exerted by the U.S. and others,” he said.
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The US markets are on track for their worst December since 1931, when the country was in the grip of the Great Depression. Japan’s main stock index has fallen more than 5% following heavy losses on Wall Street. The Nikkei 225 dived in morning trade to its lowest point since April 2017 after US markets lost more than 2% in Monday trading. The US losses followed US president Donald Trump comparing the US Federal Reserve to a bad golfer in yet another Twitter rant. The benchmark S&P 500 has dropped nearly 15% during December and the market is on track for its worst year since 2008.
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by Melvyn Morrison
Our recent Risk Congress at the prestigious Plaza Theatre in Brussels, dedicated to the theme of ‘Countering Economic Crime towards 2023’, was the venue for expert opinions from a number of eminent speakers, including Michaël André, the Head of Enforcement at the Financial Services and Markets Authority (FSMA) in Belgium. The FSMA is an autonomous public institution that, together with the National Bank of Belgium (NBB), supervises the Belgian financial sector. For example, Michaël is responsible for the day-to-day and strategic management of the Enforcement department, and for spearheading the investigation process giving rise to possible sanctions (for all areas of supervision).
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by Ryan Lucs

The Justice Department announced charges against two alleged hackers suspected of working on the orders of the Chinese government as part what the U.S. alleges is a long-running effort to steal American intellectual property. The charges were part of a broader move by the Trump administration to push back against what U.S. officials describe as China’s relentless drive to steal American business secrets. The two men, Zhu Hua and Zhang Shilong, are part of a “hacking group” known as Advanced Persistent Threat 10, according to an indictment unsealed in the Southern District of New York.
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At the High-Level Forum Africa-Europe in Vienna, hosted jointly by the Austrian Presidency of the EU, notably by Austrian Chancellor Sebastian Kurz, and Paul Kagame, President of Rwanda and the Chairman of the African Union for 2018, President Jean-Claude Juncker reiterated Europe’s ambition for a true and fair partnership among equals between Africa and Europe. President Juncker presented the first results of the Africa–Europe Alliance for Sustainable Investment and Jobs, just three months after its launch. The Alliance aims to deepen the economic and trade relations between the two continents, in order to create sustainable jobs and growth.
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Santander did not transfer funds totalling over £183m to beneficiaries when it should have done. 40,428 customers were directly affected. Santander also failed to disclose information relating to the issues with the probate and bereavement process to the FCA after it became aware of them. Santander breached Principle 3 and Principle 6 between 1 January 2013 and 11 July 2016 by failing to take reasonable care to organise and control its probate and bereavement process responsibly and effectively, with adequate risk management systems, and by failing to treat its customers and those who represented them on their death fairly.
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The European Banking Authority (EBA) published its annual report on risks and vulnerabilities in the EU banking sector. The report is accompanied by the results of the EBA’s 2018 EU-wide transparency exercise, which provide detailed information, in a comparable and accessible format, for 130 banks across the EU. Overall, the EU banking sector has continued to benefit from the positive macroeconomic developments in most European countries, which contributed to the increase in lending, further strengthening of banks’ capital ratios and improvements in asset quality. Profitability remains low on average and has not yet reached sustainable levels.
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European Commission President Jean-Claude Juncker participated in the European Council where EU leaders, in a spirit of solidarity and responsibility, made progress on key issues such as the next Multiannual Financial Framework, strengthening the Economic and Monetary Union and tackling challenges related to migration and disinformation.
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The Financial Stability Board (FSB) Regional Consultative Group (RCG) for Sub-Saharan Africa discussed global and regional macroeconomic and financial market developments and their potential impact on economies in the region. Members highlighted potential financial stability risks against the backdrop of tightening global financing conditions, market and exchange rate volatility and the decline in commodity prices, and exchanged views on possible policy responses.
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