All Third Party Risk articles – Page 2
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News Brief
EU to ban sale of products made with forced labor
The European Union announced an agreement to ban products made with forced labor, a decision that will oblige organizations to track and declare more information about their supply chains for goods entering EU markets.
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Webcast
CPE Webcast: Applying traditional TPRM security and data privacy practices in the digital space
This webinar explores the compliance challenges posed by evolving privacy regulations and the recent explosion of class-action litigation arising from third-party advertising technology on websites.
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News Brief
Metropolitan Commercial Bank adds risk chief, AML officer
Metropolitan Commercial Bank announced the appointments of a chief risk officer and Bank Secrecy Act/anti-money laundering officer to bolster its reporting lines following a $30 million enforcement action from federal and state authorities last year.
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Premium
Best practices for determining need for a human rights policy
Does your business need a human rights policy? An increasing number of organizations believe they do, according to research firm Gartner.
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Premium
Q&A: ManpowerGroup compliance director on CSRD prep efforts
James Levey, compliance director at global recruitment agency ManpowerGroup, discusses with Compliance Week his focus on preparing the group’s European operations to gather the data required for compliance with the EU’s Corporate Sustainability Reporting Directive.
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Webcast
CPE Webcast: TPRM: Time to change how you approach vendor assessments
Forward-thinking third-party risk management teams are changing the way they approach vendor assessments.
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News Brief
Alphabet to pay shareholders $350M over Google+ privacy lapses
Alphabet, the parent company of technology giant Google, agreed to pay $350 million in a preliminary settlement with shareholders over alleged data privacy violations and materially false and misleading statements linked to now-defunct social media site Google+.
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Premium
U.K. Post Office scandal sparks contractor accountability debate
The recent furor in the United Kingdom over the Post Office’s wrongful prosecutions of sub-postmasters for alleged fraud has put the government’s relationship with private contractors under the spotlight and raised questions about how companies could be held more accountable in future.
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Premium
FCPA violations in China: Lessons learned from 2023 cases
Enforcement actions regarding alleged violations of the Foreign Corrupt Practices Act at 3M, Albemarle, Clear Channel Outdoor, and Royal Philips each had China touchpoints. Experts assess third-party risk management lessons learned from each case.
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Resource
White paper: Quantify Third-Party Financial Risk to Efficiently Address Threats
Financial risk is one of the third-party risk management (TPRM) domains most likely to directly harm your organization.
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News Brief
NYDFS proposes AI use guidance for insurers
The New York State Department of Financial Services issued for public comment guidance for insurers operating in the state regarding their use of artificial intelligence systems and other predictive technologies.
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Premium
Lessons from Albemarle, ABB: How data-driven compliance can help your firm
Andrew McBride, chief risk officer of Albemarle Corp., and Tapan Debnath, head of integrity, regulatory affairs and data privacy at ABB, discussed how and why their respective organizations use data analytics to conduct business as part of a recent webcast.
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News Brief
FinCEN analysis: Most common identity-related suspicious activities
Fraud remains the leading form of identity-related suspicious activity cited in Bank Secrecy Act reports by a large margin, while technologies enable greater overall risks around exploitation, according to new research from the Financial Crimes Enforcement Network.
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Opinion
Ten things I’d like to see happen in 2024
Election years in the United States, United Kingdom, and at European Parliament, along with ongoing geopolitical tensions, make 2024 difficult to predict—aside from the expectation compliance officers will be busy.
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News Brief
Freepoint Commodities to pay $99M in Brazil bribery FCPA case
Freepoint Commodities agreed to pay nearly $99 million to settle allegations by the Department of Justice that it paid bribes to Brazilian government officials in return for business from state-owned oil company Petrobras.
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News Brief
U.S. agencies issue ‘know your cargo’ transport compliance note
Five agencies of the U.S. government combined to issue best practices guidance for entities in the maritime and other transportation industries to help reduce risk of sanctions and export control violations and evasion efforts.
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Premium
Efficiency, consistency among goals of modernized TPRM program
Managing directors at KPMG share how firms are making strides in building robust third-party risk management programs for the future.
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News Brief
OCC offers compliance guidance to banks on ‘buy now, pay later’ loans
New guidance from the Office of the Comptroller of the Currency advises banks to tailor their risk management strategies and lending oversight for “buy now, pay later” plans.
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Resource
e-Book: Goals of a modernized TPRM program
Companies have shown a willingness to invest in technology to enhance their third-party risk management efforts. But that doesn’t mean new opportunities don’t remain.
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Premium
Survey: Companies bullish on new tech amid enhanced sanctions scrutiny
Emerging technologies like automation and generative AI are on the radar as difference-makers for businesses serious about keeping pace with increasing regulatory scrutiny toward third-party due diligence and sanctions compliance, a survey conducted by Compliance Week and Certa found.