By
Aaron Nicodemus2021-02-18T19:56:00
Should you consider outsourcing some of your firm’s compliance functions? Perhaps, even, all of them? The answer is complicated and requires a thorough analysis of the risks and rewards.
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2021-11-11T18:43:00Z By Jaclyn Jaeger
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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Using external firms and consultants can bolster the effectiveness of certain compliance functions. Abdicating too much responsibility, however, could draw the ire of regulators.
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Luxury fashion brand Prada has terminated contracts with over 200 suppliers in the past five years after a focused “zero tolerance” supply chain audit aimed at identifying compliance failings.
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Companies may face significant financial and legal risks if they fail to vet suppliers and third parties over their use of unauthorized AI and how the technology may use and share their corporate data.
2024-07-26T19:49:00Z By Aaron Nicodemus
Three federal banking regulators issued guidance on the risks posed by the use of third-party financial technology firms to deliver bank deposit products and services to customers.
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