Below are the details of the operational risks covered within this selected sub-risk category:
Incorrect processing of customer business transactions, due to business process flaws
Business process flaws may result in incorrect processing of customer business transactions. Examples of such incorrect processing include: -
Unplanned disruption to customer related business processes
Business process flaws may result in unplanned disruption to customer related business processes. Examples of such disruption include: -
Improper sharing of customer information, due to business process flaws
Business process flaws may result in improper sharing of customer information. Examples of such sharing include: -
Providing improper advice to customers, due to business process flaws
Business process flaws may result in customer advisors providing improper advice to customers. Examples of such improper advice include: -
Mis-selling products or services to customers, due to business process flaws
Business process flaws may result in sales teams mis-selling products or services to customers. Examples of such mis-selling include: -
Dealing with customers (individuals or firms) covered by international sanctions or embargoes, due to business process flaws
Business process flaws may result in sales teams dealing with customers (individuals or firms) covered by international sanctions or embargoes. Examples of such dealing may include: -
Transactions executed on customer accounts without their permission, due to business process flaws
Business process flaws may result in transactions executed on customer accounts without their permission. Examples of such transactions include: -
Damage to customer's physical assets, due to business process flaws
Business process flaws may result in damage to customer assets. Examples of such damage include: -
Delay in resolving customer complaints, due to business process flaws
Business process flaws may result in delay in resolving customer complaints. Examples of such delays include: -
Failure to process transactions submitted or approved by customers, due to business process flaws
Business process flaws may result in failure to process transactions submitted or approved by customers. Examples of such failure include: -
Incorrect fees or charges added to customer accounts, due to business process flaws
Business process flaws may result in incorrect fees or charges added to customer accounts. Examples of such addition include: -
Improper use of customer assets, due to business process flaws
Business process flaws may result in improper use of customer assets. Examples of such use include: -
Incomplete information sent to customers, due to business process flaws
Business process flaws may result in incomplete information sent to customers. Examples of such information include: -