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Connect Magazine Issue 14 November 25, 2025

Hunting for Cockroaches: The Hidden Risk Behind JPMorgan's Tricolor Shock

Hunting for Cockroaches: The Hidden Risk Behind JPMorgan's Tricolor Shock

Mark Norman examines JPMorgan’s $170m Tricolor loss as a real-time example of how fraud, weak controls, and opaque non-bank counterparties can create hidden, systemic vulnerabilities. Using Jamie Dimon’s “cockroach” analogy, the article argues that the Tr

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