BaFin published its yearly update on its report regarding Risks in BaFin’s Focus, accompanied by a press release. The report identifies the following six top risks for financial institutions, arising from: (i) significant corrections on the international financial markets; (ii) corporate loan defaults; (iii) commercial real estate markets; (iv) cyber incidents with serious consequences; (v) market concentration due to the outsourcing of ICT services; and (vi) insufficient measures to prevent money laundering and terrorist financing.
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