All Risk Management articles – Page 58
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ArticleOCC studying risks posed by bank-fintech partnerships
Bank-fintech partnerships have grown “at exponential rates” and become so complicated it is often difficult to distinguish “where the bank stops and where the tech firm starts,” Acting Comptroller of the Currency Michael Hsu said.
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ArticleSEC warns auditors of risks in taking on Chinese clients
U.S.-based audit firms seeking new public company clients in China should ensure they have full access to previous audits and work papers before taking the job or risk potential enforcement, the acting chief accountant at the Securities and Exchange Commission warned.
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ArticleDetails murky in Samsung’s second data breach this year
Samsung revealed a hacker accessed the personal data of an unspecified number of its U.S.-based customers, even after improving its cybersecurity systems following a previous breach earlier this year.
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ArticleUpheld ex-Alstom exec’s acquittal affirms ‘setback’ for FCPA’s reach
The latest development in the nearly decadelong Lawrence Hoskins court case has the potential to open the door for foreign nationals involved in aiding U.S. companies with foreign bribery schemes to escape liability under the Foreign Corrupt Practices Act, according to experts.
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ArticleEU countries take varied approaches to combating greenwashing
European regulators are taking greater steps to clamp down on companies’ misleading ESG claims, but experience shows different countries have differing priorities about tackling dishonest marketing.
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ArticleU.S., Israel finalize deal on cybersecurity cooperation
The United States and Israel have finalized an agreement to work together to protect the financial sector from cybersecurity attacks, the U.S. Treasury Department announced.
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ArticleTether prepared to defy controversial U.S. sanctions on Tornado Cash
Cryptocurrency platform Tether is set to defy U.S. sanctions by holding firm on its refusal to freeze relevant Tornado Cash addresses until receiving further instruction from law enforcement agencies.
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ArticleBig bank messaging app crackdown exposes policy holes, monitoring struggles
U.S. regulators have signaled through an impending widespread enforcement sweep they are zeroing in on banker use of messaging apps to discuss business matters. The cases emphasize the need for financial services firms to enhance their monitoring and recordkeeping.
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ArticleTwitter whistleblower says poor cybersecurity invites breaches, manipulation
Peiter Zatko, a former cybersecurity executive at Twitter, has blown the whistle on his observations of systemic data security lapses at the company, undercounting of fake accounts, and how the social media platform could be manipulated by foreign intelligence services.
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ArticleThe art and skill of delivering bad news
Amii Barnard-Bahn shares her six-step process to help increase receptiveness when communicating bad news and reduce the likelihood of backlash toward the message being delivered.
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ArticleCitigroup broker-dealer fined $15M for inadequate U.K. trade monitoring
Citigroup Global Markets was fined £12.6 million (U.S. $14.9 million) by the U.K.’s Financial Conduct Authority for failing to implement an adequate trade surveillance program required by British law.
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ArticleFTC warns against COPA laws for hospital mergers
The Federal Trade Commission is urging state lawmakers to avoid the use of Certificates of Public Advantage for hospital mergers, warning the certificates increase costs for patients, slow wage growth for healthcare workers, and lead to compliance difficulties.
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ArticleFraud risks grow as cost of living soars
Just as fraud grew during the Covid-19 pandemic, so will it now flourish with prices at historic highs. The question is just how widespread this fraud surge will prove to be and what can be done to help prevent it.
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ArticleSarbanes-Oxley 20th anniversary: Time to revisit SOX programs
Twenty years ago, in the aftermath of the Enron and WorldCom financial reporting scandals, Congress acted and created the Sarbanes-Oxley Act of 2002. Such a milestone anniversary marks a good time for organizations to refresh, rethink, and modernize their SOX programs.
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ArticleWe bet you’ll love us: Try Compliance Week risk-free for 30 days
For a limited time, Compliance Week is offering 30-day free trial memberships to demonstrate the value we bring to those who serve the cause of ethics and compliance.
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ArticleDOJ-informed compliance guidance helps Home Depot prep for potential scrutiny
How can a company prove its compliance bona fides to a regulator, should one ever come knocking on its door? The Home Depot has prepared for such a scenario with detailed guidance pegged to the DOJ’s “Evaluation of Corporate Compliance Programs.”
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ArticleAdaptability: An overlooked, and underrated, compliance skill
Compliance professionals can utilize adaptability for its many benefits both individually and for the firms in which they work. The question, then, is how they do so.
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ArticleAlbemarle in settlement talks with SEC, DOJ over FCPA violations
Chemical company Albemarle Corp. has entered settlement talks with the Securities and Exchange Commission and Department of Justice regarding potential violations of the Foreign Corrupt Practices Act.
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ArticleCrypto regulation back in spotlight after SEC securities claims
The Securities and Exchange Commission’s move to classify nine cryptocurrencies as securities as part of insider trading charges it brought against a former Coinbase manager has touched a nerve with other regulators, particularly the Commodity Futures Trading Commission.
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ArticleProposed NIST cybersecurity guide incorporates HIPAA Security Rule
The National Institute of Standards and Technology is seeking comment on proposed guidance intended to help healthcare organizations that fall under the regulatory umbrella of the Health Insurance Portability and Accountability Act’s Security Rule.