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Recent Editions
Risk Channel
North America
Credit risk will probably rise in 2025 as cyberattackers evade defenses with generative artificial intelligence (GenAI) and increasingly target large companies with the resources to pay high ransoms, Moody's Ratings has warned. “Phishing attacks, aiming to entice a user into clicking a malicious link, will be turbocharged by GenAI,” the ratings company said. “GenAI tools will enable attackers to craft personalized and compelling text, audio and video content that mimic legitimate communications from trusted entities.” At the same time, cybercriminals in 2025 may confront weaker opposition from a new Trump administration that Moody's expects to "roll back cybersecurity mandates and potentially curtail the activities of the U.S. Cybersecurity and Infrastructure Security Agency. This could expose issuers to a heightened risk of cyberattack."
Risk Channel
UK/Europe
HSBC and Lloyds Banking Group have announced their withdrawal from the Lending Standards Board (LSB), a self-regulatory body established to improve lending practices following the 2008 financial crisis. The decision, alongside Santander UK's earlier exit, raises concerns about the future of the LSB, which has already had to reduce its workforce significantly. An LSB spokesperson said: "As a result of this withdrawal, many of these banks' SME customers will not be protected by the oversight of either the LSB or FCA," highlighting the potential risks for small and medium enterprises. The banks argue that their membership is no longer necessary due to overlapping regulatory standards, including those from the Financial Conduct Authority.
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