What are some examples of operational risks?
An example of an AI chatbot conversation about operational risk examples.
What are some examples of operational risks?
Operational risks can include things like system failures, fraud, and compliance issues. Would you like more details on any specific type?
Can you explain system failures?
Sure! System failures refer to breakdowns in technology or processes that disrupt operations, like software crashes or hardware malfunctions.
What about fraud as an operational risk?
Fraud involves intentional deception to gain an unfair advantage, such as embezzlement or identity theft within an organization.
How can companies mitigate these risks?
Companies can mitigate operational risks by implementing strong internal controls, regular audits, and employee training programs.
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