Basel Committee: Risk Management Principles for Electronic Banking
OM-1.1.8
The paper (see www.bis.org/publ) issued in July 2003 recognizes new risks associated with the increase in distribution of financial services through electronic channels, or e-banking. To emphasize the importance of these risks, the Committee has placed responsibility on the shoulders of the Board and senior management to ensure their institutions have analysed, identified and modified operations to mitigate these risks.
October 07OM-1.1.9
To facilitate these developments, the Committee has identified fourteen Risk Management Principles for
Electronic Banking to help banking institutions expand their existing risk oversight policies and processes to cover their e-banking activities.October 07OM-1.1.10
The Risk Management Principles fall into three broad, and often overlapping, categories of issues that are grouped to provide clarity: Board and Management Oversight; Security Controls; and Legal and
Reputational Risk Management.October 07
