Culture & Conduct, Governance, Regulation & Supervision

Farage fallout reveals ‘failures’ in banks’ first line of defence

By Ellesheva Kissin
Image: Getty Images

Shoddy first lines of defence and lax processes on reputation risk committees are undermining their original purpose — to protect the good names of banks.

Little was known about these committees until the showdown between former politician Nigel Farage and private bank Coutts in July. After the bank ...

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