Off balance sheet risk and Social engineering: Difference between pages

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1. ''Liquidity and funding risk in banks.''
''Cyberthreat''


Off balance sheet sources of liquidity risks for banks include items which might cause demands for additional funding in the future. These include:
In the context of cyber attacks, 'social engineering' means deceiving employees into voluntarily making fraudulent payments or other transactions, by causing them to believe that the fraudulent transactions are legitimate.
*Contingent liabilities such as guarantees.
*Undrawn lending facilities.
*Derivative instruments.
*Securitisation special purpose vehicles.




2. ''Capital risk in banks.''
<span style="color:#4B0082">'''''Frauds socially engineered'''''</span>


The risk of adverse effects on the bank's profits and capital, from similar off balance sheet sources.
:"... the frauds were successful because, at the final stage of the process, the victims’ employees were either directly or indirectly ‘socially engineered’ into willingly handing over company money, because they believed that they were engaged in legitimate transactions.  


:In their defence, there are some ‘very good reasons’ why they were so easy to manipulate."


3.
:''The Treasurer magazine, March 2017, p39 - Lesley Meall, freelance journalist specialising in technology and finance.''


Any risks to an organisation arising from events, contingencies or relationships not recorded in the organisation's balance sheet.


For example, repo-to-maturity transactions.
Sometimes written 'social-engineering'.
 




== See also ==
== See also ==
* [[Balance sheet]]
* [[CEO fraud]]
* [[CCF]]
* [[Cyber attack]]
* [[Contingent liabilities]]
* [[Financial engineering]]
* [[Derivative instrument]]
* [[Fraud]]
* [[Entity]]
* [[Layering]]
* [[FRS  102]]
* [[Phishing]]
* [[IFRS 16]]
* [[Ransomware]]
* [[Leverage Ratio Exposure]]
* [[Spoofing]]
* [[Liquidity risk]]
* [[Whaling]]
* [[Off balance sheet]]
 
* [[Off balance sheet finance]]
[[Category:Technology]]
* [[Repo-to-maturity]]
* [[Required Stable Funding]]
* [[Securitisation special purpose vehicle]]

Revision as of 13:06, 25 September 2022

Cyberthreat

In the context of cyber attacks, 'social engineering' means deceiving employees into voluntarily making fraudulent payments or other transactions, by causing them to believe that the fraudulent transactions are legitimate.


Frauds socially engineered

"... the frauds were successful because, at the final stage of the process, the victims’ employees were either directly or indirectly ‘socially engineered’ into willingly handing over company money, because they believed that they were engaged in legitimate transactions.
In their defence, there are some ‘very good reasons’ why they were so easy to manipulate."
The Treasurer magazine, March 2017, p39 - Lesley Meall, freelance journalist specialising in technology and finance.


Sometimes written 'social-engineering'.


See also