All Third Party Risk articles – Page 14
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ArticleRule requires banks report significant ‘computer-security incidents’ within 36 hours
Federal banking regulators issued a rule that requires financial institutions to notify their regulator within 36 hours of a “computer-security incident” that materially affects their operation, ability to deliver services, or the stability of the financial sector.
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ArticleVolkswagen not resting on laurels post-monitorship
Volkswagen CCO Kurt Michels shared how the company has intensified business partner due diligence in the wake of completing its three-year U.S. monitorship during a fireside chat at CW’s virtual Europe event.
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ArticleCWE panel: Risks, rewards of outsourcing compliance
As they look to manage third-party risks, compliance departments are increasing their reliance on outsourcing. Experts at Compliance Week’s virtual Europe event discuss the benefits and risks of enlisting external help.
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ArticleHoneywell records charge of $160M in FCPA probe
Honeywell International has recorded a charge of $160 million in accrued liability concerning an investigation by U.S. and Brazilian authorities as to whether the company’s use of third parties in Brazil violated the FCPA.
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ArticleCompliance Week National Conference is going back in person in May
Mark your calendars: Compliance Week’s National Conference in Washington, D.C. will be held in person for the first time in nearly three years from May 16-18, 2022.
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ArticleHow to respond to government’s renewed emphasis on cybersecurity
The Department of Justice’s new Civil Cyber-Fraud Initiative is the latest development to suggest companies’ cybersecurity defenses had better be up to snuff when doing business with the U.S. government or risk enforcement.
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ArticleMetals Technology Initiative issues new anti-corruption resources
The Metals Technology Initiative has launched a new website making its guidance on gifts and hospitality and third-party due diligence freely accessible.
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ArticleReport: China, U.S. most confident in combating corruption risks
Risk leaders at companies in China and the United States expressed the highest level of confidence in their approach to mitigating bribery and corruption risk, according to a new global benchmark report from Kroll.
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ArticleBanking guidance: Six key areas of FinTech due diligence
Three federal banking regulators have released guidance offering tips and suggestions to community banks for conducting due diligence on potential FinTech partners.
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ArticleFINRA notice outlines key areas for supervising third parties
The Financial Industry Regulatory Authority issued a notice on compliance deficiencies arising from firms’ relationships with vendors culled from examination findings.
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ArticleWhat factors are driving change in your corporate investigations process?
A recent survey from Compliance Week and OpenText reveals while investigations and data volumes are on the rise, machine learning combined with external expertise may give companies the upper hand in accelerating response and results.
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ArticleNew bank guidance expands on advice for handling third parties
Three federal banking regulators are seeking public input on the first comprehensive update to risk management guidance for financial institutions entering into business relationships with third parties since 2013.
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ArticleSurvey: Emerging TPRM trends in anti-corruption
Kroll’s newest anti-corruption benchmarking report highlights current TPRM trends such as evolving challenges with enhanced due diligence, the rise of automation, the growing incorporation of ESG matters into compliance programs today, and more.
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ArticleTPRM 2021: What to do before, during, and after a ransomware attack
Two risk and compliance practitioners opened their cyber-playbooks at CW’s TPRM virtual event, explaining how to identify and address vulnerabilities, establish transparency with vendors, and strengthen an organization’s incident management program.
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ArticleCharles Duross: Tips for managing third-party FCPA risks
Charles Duross, former deputy chief of the DOJ’s Fraud Section, shared tips on how companies can best manage third parties and employees who willfully try to circumvent internal controls during his keynote speech at CW’s virtual TPRM conference.
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ArticlePandemic effect on TPRM practices here to stay, expert warns
With many businesses still sorting through the new layers of risk that have emerged over the last 16 months, Linda Tuck Chapman of the Third Party Risk Institute shared her top areas of focus and more at CW’s virtual TPRM event.
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Software demoSoftware demos: Third-party risk management (TPRM)
In the market for a software solution to help manage your third-party risk? Check out our collection of video demos from nearly a dozen of the top vendors in the space.
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ArticleBig week for breaches: McDonald’s, Carnival, and more
Multiple high-profile companies—including Carnival, Wegmans, McDonald’s, Volkswagen, and CVS—have confirmed in recent days they were either victims of a data breach or were alerted to a gap in their security controls.
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ArticleBracing for impact: Supply chain risk management post-Suez Canal blockage
A month has gone by since a 1,300-foot cargo ship ran aground and blocked one of the busiest waterways in the world. For many industries, the ripple effects will continue to batter global supply chains for weeks to come, absent having in place a sound supply chain risk management program.
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ArticleSuez Canal blockage serves as reminder for key supply chain risk lessons
The grounding of the Ever Given is the latest unexpected incident to cause severe supply chain disruptions around the world. The lessons learned from others, such as the coronavirus pandemic, are just as relevant, writes Aaron Nicodemus.