- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jaclyn Jaeger2021-04-15T19:52:00
The Treasury Department announced sanctions against Russia implemented under an executive order from President Joe Biden in response to the SolarWinds hack and alleged election interference by the country.
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The more we learn about the SolarWinds hack, the more troubled compliance officers should be by the scope and breadth of the risks their companies might have incurred.
For most companies, supply chain risk management traditionally focuses on managing physical third-party risks. But what the SolarWinds cyber-attack revealed is the catastrophic havoc fourth and fifth parties can also wreak in the often-ignored cloud supply chain.
The lessons from the massive SolarWinds hack on where vulnerabilities still lurk in the third-party vendor supply chain cannot be grasped soon enough.
The Treasury Department’s Office of Foreign Assets Control sanctioned nearly 50 entities connected with so-called “shadow banking” networks that help Iran’s military evade U.S. sanctions and to sell the country’s oil and petrochemical products.
The Treasury Department’s Office of Foreign Assets Control and Secretary Janet Yellen announced sanctions Thursday against the top leaders of La Nueva Familia Michoacana drug cartel over the illicit trafficking of synthetic opioid fentanyl in the United States.
Sanctions compliance officers face myriad challenges as complex geopolitical situations heighten risks worldwide, experts discussed during Compliance Week’s Third-Party Risk Management & Oversight Summit.
