Telecommunication companies are now on the honor system to protect their networks from cyber attacks, following a Federal Communications Commission (FCC) vote that removed requirements that they harden their networks.
Cybersecurity
Posted inRegulatory Enforcement
OFAC sanctions Russian web company that hosted LockBit ransomware
Two Russian web-hosting services that provide cover for ransomware operators, including Lockbit, have been sanctioned by the U.S. Treasury’s OFAC and international partners.
Posted inCybersecurity, Regulatory Policy
NYDFS rolls out new guidance for firms about cybersecurity and third-parties
The New York State Department of Financial Services (NYDFS) wants financial firms to step up their game when it comes to third parties and cybersecurity.
Posted inEurope
Retailers face new compliance pressures from tariffs, sanctions, fraud and cybercrime
Regulators are pressuring retail compliance teams on supply chains, shifting sanctions and tariffs, sustainability, and digital commerce. Rising cyberattacks heighten data security concerns, while large retailers push legal and commercial requirements down their supply chains.
Posted inTechnology
Navigating top risks in the insurance industry
Cyber threats, climate-related catastrophes, and disruptive technologies remain top risks reshaping the U.S. insurance industry. The question is how chief risk officers at the nation’s largest insurers are confronting them.
Posted inRegulatory Enforcement
Ransomware gang BlackSuit hit with major takedown after targeting 450 U.S. victims
The BlackSuit ransomware organization has taken a major hit under a U.S.-led, global law enforcement operation that seized the criminal group’s servers and assets, the Department of Justice said Monday.
Posted inRisk Management
TPRM programs can prove their worth by limiting damage of cyberattacks, data breaches
There are stories we tell ourselves in third-party risk management (TPRM) to make ourselves feel better about the corners we cut.
Posted inAccounting & Auditing
Communication and relationships is increasingly critical for compliance teams
Compliance is increasingly in the spotlight as companies are tackling everything from artificial intelligence and other new technologies to risk management and mitigation. But it’s soft skills of communication and relationship building that are becoming the most critical tools for success.
Posted inAnti-Bribery
ESG isn’t just a buzzword, it’s vendor management, forced labor and more
ESG is no longer in vogue. But its issues still are.
Almost none of the nearly 200 attendees at Compliance Week’s Third Party Management summit this week said they’re currently working on ESG when informally surveyed. The show-of-hands results marked a dramatic reversal from even just a couple years ago, surprising even attendees in the room.
Posted inBoards & Shareholders
TPRM Keynote speaker Cherepanova says directors don’t need specialization, they need critical thinking
Regulators and investors increasingly say boards of directors need more expertise to ensure they can respond to fast-changing politics, policy, and technology that threaten to undermine their businesses. In the U.K., government officials say boards need to think more about cyber. In the EU, they need to prepare for the Corporate Sustainability Reporting Directive (CSRD). Speaking at Compliance Week’s Third-Party Risk Management summit, Boards of the Future director Vera Cherepanova says that directors need to think broadly, rather than in specialties.