All Risk Management articles – Page 94
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ArticleAnalysis: Comparing the IIA’s new ‘Three Lines Model’ to the old one
The biggest improvement in the IIA’s new “Three Lines Model” of risk management is it allows for greater flexibility between “lines” and is less likely to be interpreted so literally.
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ArticleSARs overload slowing efforts to combat financial crime
For the global AML community, there is a need to recognize too much valuable time is spent filing too many low-value suspicious activity reports that will never become the subject of any law enforcement action, writes Martin Woods.
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ArticleShared elements of best-in-class risk and compliance programs
A revamped NAVEX Global report reinforces a long-held belief in the compliance industry that those companies that trust employees to behave ethically continuously work to improve culture.
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ArticleHow to navigate states’ patchwork quilt of return-to-office training requirements
As if cobbling together a return-to-office plan for your company during a pandemic is not difficult enough, 16 states now require employees receive coronavirus safety training.
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ArticleCompanies paying price for EU-U.S. Privacy Shield removal
The legal and financial burden for companies to comply with the recent ruling to invalidate the EU-U.S. Privacy Shield might actually be worse than first thought, if an FAQ from the European Data Protection Board is any indication.
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ArticleThe problem with ‘ghost CCOs’ and the haunting consequences
If you’re a small investment firm owner acting as your firm’s chief compliance officer, here are some scary stories that might keep you up at night.
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ArticleFacing potential takeover, PG&E pins hopes on reorganization
Found to be at fault for yet another wildfire last week, PG&E’s return from bankruptcy is off to a rocky start. A new reorganization plan at the company built around risk management and safety is key to avoiding a takeover by the state of California.
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ArticleNailed It or Failed It? Disney sends anti-hate message to Facebook
In this week’s “Nailed It or Failed It?”, Disney gets kudos for throwing its weight behind the #StopHateForProfit protest, while PG&E earns criticism after being found responsible for yet another California wildfire.
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ArticleU.K.’s Russia report underscores need to question big money
The U.K.’s long-awaited report on Russian interference in the country stresses the importance for big money to be subject to enhanced levels of due diligence, writes financial crime expert Martin Woods.
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ArticleTwitter cyber-attack should be wake-up call for firms
The recent cyber-attack directed at Twitter was the online equivalent of an explosive device being detonated. The ICA breaks down lessons learned from the hack and what firms can do to enhance their cyber-security controls.
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ArticleUsing data to fight fraud fire with fire
When it comes to ferreting out and thwarting fraud, one must think like the fraudster, advises financial crime expert Martin Woods, who offers tips on using data to make your firm a hostile environment for bad actors.
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ArticleIIA’s ‘Three Lines of Defense’ updated to stress collaboration
The Institute of Internal Auditors’ updated “Three Lines Model” ditches the focus on defense of its predecessor to encourage more effective collaboration between key players within an organization.
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ArticleHow Twitter got hacked, and what you can learn from it
Twitter just suffered the biggest cyber-attack in its history. But is it being set up for something bigger? We explore that possibility and much more.
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ArticleCommerzbank fine demonstrates danger of AML lapses
The Financial Conduct Authority’s fine of £37.8 million (U.S. $47.5 million) on Commerzbank’s London branch is a reminder that the most fundamental risk-based AML controls are still not being implemented at some financial services firms.
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ArticleEurope’s top court strikes down U.S.-EU data transfer rule
In a surprise decision that will have a major impact on trans-Atlantic data transfers, Europe’s top court ruled Thursday that a mechanism used by thousands of companies to send data to the United States is unlawful.
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ArticleBoohoo complaints put spotlight on supply chains and working practices
Recent reports of underpaid workers at suppliers for U.K. fashion retailers Boohoo and Quiz shed light on inherent weaknesses in companies’ monitoring of their supply chains.
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Walmart latest hit with CCPA-related lawsuit
Consumers are using the newly enforceable California Consumer Privacy Act to sue companies they say have mishandled their data. Walmart is the latest and most high-profile to be slapped with a lawsuit.
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ArticleNothing more important than knowing your risk exposure
In performing due diligence on your supply chain partners, do not be intimidated into accepting no for an answer. Being blind to potential risks is bound to get you into trouble, writes financial crime expert Martin Woods.
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ArticleStudy: U.S. largest target for ‘significant’ cyber-attacks
The United States has been on the receiving end of more significant cyber-attacks over the last 14 years than triple any other country, according to new research.
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ArticleAnalysis: When clean money is used for dirty purposes
There are times when it is a necessary to consider where clean money is going to as much as where dirty money may have come from, writes financial crime expert Martin Woods.