- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jaclyn Jaeger2019-12-30T17:59:00
Boards of directors, audit committee members, and executive management teams interested in learning how to apply COSO’s Enterprise Risk Management framework to protect against cyber-attacks now have new guidance available.
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Representatives from the Committee of Sponsoring Organizations of the Treadway Commission and its partners explain how to implement the organization’s latest guidance on identifying, monitoring, and mitigating compliance risks.
Many compliance departments are not independent, but instead report to other departments. COSO recommends compliance be separated out into its own division, led by a chief compliance officer with an executive-level position.
Cyber-incidents, business interruption, and changes in legislation and regulation are the three biggest risks to companies globally, according to research by German insurer Allianz.
The U.S. Department of the Treasury’s Financial Crimes Enforcement Network issued an alert to financial institutions about their obligations to report deepfakes, warning artificial intelligence has given bad actors additional tools in their arsenal.
A nationwide rental outlet affiliated with Rent-a-Center and its chief executive have been sued by the Consumer Financial Protection Bureau for allegedly deceiving five million consumers about the terms of credit agreements.
A lack of risk visibility is causing companies to reject customers–and potentially lose money–over fears they might be in danger of violating rules around anti-money laundering and sanctions regulations.
