Delivering on its strategy on artificial intelligence adopted in April 2018, the Commission presented a coordinated plan prepared with Member States to foster the development and use of artificial intelligence in Europe. This plan proposes joint actions for closer and more efficient cooperation between Member States, Norway, Switzerland and the Commission in four key areas: increasing investment, making more data available, fostering talent and ensuring trust. Stronger coordination is essential for Europe to become the world-leading region for developing and deploying cutting-edge, ethical and secure artificial intelligence.
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In his State of the Union, President Juncker highlighted the strategic importance of the euro and the need to ensure that the single currency can play its full role on the international scene. Supported by upcoming decisions to strengthen Europe’s Economic and Monetary Union, complete the Banking Union and advance on the Capital Markets Union, the euro needs to develop its global role and fully reflect the euro area’s political, economic and financial weight.
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The Basel Committee on Banking Supervision published further information related to its 2018 assessment of global systemically important banks (G-SIBs), including additional details to help understand the scoring methodology.
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Aligning operational risk management (ORM) with strategy could enable strategic change, improve business performance and enhance customers’ experience for financial institutions. However, only half of firms surveyed with less than $250 billion in assets leverage ORM to challenge business models, according to a report by KPMG LLP and The Risk Management Association (RMA).
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European Commission President Jean-Claude Juncker and European Council President Donald Tusk represented the European Union at this year’s G20 Summit, under the Argentinian Presidency in Buenos Aires. Following the two days Summit, G20 leaders agreed to defend a multilateral rules based international order. President Juncker said: “No one country, no one region can do it alone. There is no alternative to multilateral cooperation. This year’s G20 has proven our willingness to forge consensus and address challenges together.”
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Marc Strackx spoke about biometrics and security during the International Risk Congress in Brussel in relation to countering Financial Economic Crime. In today’s digitally enabled world, where cybercrime, theft and fraud are on the rise, organizations require the most secure, accurate, and reliable identity authentication methods for data access, physical access, and general security. System’s security has become a challenge with attacks on all fronts – not only externally by outsiders but internally by insider manipulation. The implementation of technological safeguards is, therefore, more vital than ever, but with the dramatic increase in networks, devices, connections, and applications this has become highly complex. Continue reading…

Mark Barry Starling, aged 57 of Farnham, Surrey, was today sentenced at Southwark Crown Court to 5 years’ imprisonment for defrauding investors of just under £3 million in relation to unauthorised investment schemes he operated between 2008 and 2017. Over a period of 9 years between 2008 and 2017, Mr Starling purported to run investment funds and obtained investment monies from his friends and acquaintances. They entrusted him with just under £3 million of their money.
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