Three TPRM myths worth busting
There are stories we tell ourselves in third-party risk management (TPRM) to make ourselves feel better about the corners we cut.
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.
ESG goes beyond politics: Vendor management, forced labor, sustainability
ESG is no longer in vogue. But its issues still are.
In a world filled with uncertainty, boards need to focus on connecting dots
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 ...
TPRM has become the business continuity plan in turbulent times
Global supply chains are constantly in flux: crucial vendors could suddenly go bankrupt, fail to produce key components without warning, or even lose your firm’s data in a breach. The result has drawn ever more attention to third-party risk management as a critical element of many businesses.
Inside the Mind of the CCO: Compliance in an uncertain world, still with fuzzy reporting lines
The world is rapidly changing. The European Union is stepping up rules and enforcement, while the United Kingdom is charting its own course. And now the United States is taking a third tack, with unclear regulation enforcement under a mercurial Donald Trump’s second term as president underway.
FTC orders GoDaddy to upgrade cybersecurity defenses following three breaches
The Federal Trade Commission has ordered web hosting company GoDaddy to implement a “robust” information security program following at least three data breaches that the agency said were aided by lax cybersecurity measures.
Mental health is a rampant issue for cyber pros, and it needs more attention
Cybersecurity has become one of the most important parts of business operations, particularly as companies face a data breach, attack, or disruption of service. But the impact this responsibility is having on cyber pros needs more attention.
U.K. says company boards need to worry more about cybersecurity risks
The U.K. government wants directors and boards of directors to become more actively involved in cybersecurity risks facing public and private companies, as the world faces “alarming” threats from criminal gangs and malicious nation-states.
Navigating compliance: A guide for small teams to tackle CMMC
Many small organizations within the Defense Industrial Base are struggling to meet the rigorous requirements validated through the Cybersecurity Maturity Model Certification, writes Thomas Graham, CISO at Redspin. If you haven’t been tracking it closely, CMMC was finalized in October, with an effective date of December 16, 2024.
DOJ fines MORSE Corp $4.6M for lax cyber controls amid crack down on federal contractors
Yet another government contractor has been slapped with a fine by the Department of Justice for applying lax cybersecurity defenses on sensitive government data.
Experts explain why IIA's new global audit rules will be 'central' to securing high-quality assurance
Compliance teams should expect more support from their organization’s internal audit functions. That is the clear message from the Institute of Internal Auditors, the global body of national affiliated internal audit institutes, which has just put into action its new Global Internal Audit Standards.
Photo gallery: Cyber Risk & Data Privacy Summit
Compliance Week’s Cyber Risk & Data Privacy Summit, held Feb. 10-11 in Alexandria, Va., gathered legal, compliance, and risk professionals in person for the first time since before the pandemic to benchmark best practices on managing cyber risks.
Financial crime in the shadows of the dark web
The dark web has been depicted as a long-standing hub for crimes, where illegal activities such as drug dealing, financial fraud, weapon sales, murder for hire, stolen credit cards, and ransomware gags are easily accessible to the public.
FBI, Europol shut down hacking sites selling personal info, tools for cybercriminals
Two massive hacking websites–where criminals sold everything from stolen social security numbers to tools for cybercriminals to gain access to computers–have finally been shut down by an international law enforcement team, the Department of Justice announced.
Five reasons why I’m excited about CW’s Cyber Risk & Data Privacy Summit
Having worked for Compliance Week for three years, I’ve found it remarkable how compliance professionals can be so consistently upbeat about their plight. An often refrain in compliance circles is “be comfortable with being uncomfortable.” As difficult as the job can be, that clearly doesn’t mean it can’t be fun.
Experts say DORA compliance not coming easy as more firms pass buck to IT providers
New rules have come into effect across the European Union to promote better cybersecurity and IT resilience across the financial services sector, but experts warn that compliance is likely to be patchy and regulatory enforcement across the bloc perhaps even patchier.
CJEU ruling adds to GDPR liability over unfair competition, AML/CFT
Legal cases and fines for noncompliance with EU’s GDPR could rise sharply after a court found that a breach was a source of unfair competition. The judgment also opens doors to civil cases over companies that ignoring expensive or challenging rules, such as those regarding AML/CFT.
Experts unsure of risk appetite as EU beefs up cyber rules for critical infrastructure
New rules on cyber risk management across the EU put execs firmly in the crosshairs for noncompliance and are likely to apply to a wider range of organizations than many business leaders may initially think. However, there are also concerns that the rules may become muddled across the wide bloc.
TPRM critical as DORA, new FCA third-party engagement rules come into effect in 2025
New rules that push IT firms providing “critical” services to the U.K.’s financial sector to share more data about cyberattacks and resiliency measures have been welcomed by industry experts. However, concerns remain over how suppliers will be classified and how key data might be gathered and shared.
Google’s fate under Trump could be a sign of antitrust battles to come in 2025
As Donald Trump begins his transition to become president, there are questions about the fate of tech companies, as well as regulators from multiple administrations. Google in particular is fighting a high-profile antitrust ruling after an investigation started by Trump in 2020 could be resolved in his next administration.
Data analytics in compliance: Time to get started, or expand, in 2025
Launching or expanding a corporate data analytics program for compliance can seem like a daunting task, but it is one worth adding to your to-do list in 2025.
Russian-Israeli LockBit developer to be extradited to U.S. for extorting $500M
An alleged software mastermind of the notorious LockBit ransomware group will soon be extradited to the United States to stand trial on charges that his criminal enterprise extorted at least half a billion dollars from victims worldwide, including U.S. businesses and hospitals, the Department of Justice said.
Top 5 risks for 2025: U.S. uncertainty, global trade war, digital attacks
A prominent risk management firm has issued its predictions for the top five risks for business in 2025, along with guidance for how organizations should prepare and respond.
Survey: Organizations broadly adopting AI, with varied governance
The majority of businesses are using AI and doing so without governance–a compliance gap that poses extreme risks, a new survey by Compliance Week and GAN Integrity found. A webinar will discuss why it is crucial to have AI governance, how to implement it, and what strategies to strengthen programs.
How compliance monitoring can create a stronger foundation for AI, emerging technologies
The era of artificial intelligence adoption is testing the old ways of doing compliance, underscoring the need for continuous monitoring. Compliance isn’t a one-and-done activity, but sometimes organizational incentives and goals fail to prioritize the importance of this.
White paper: Constructing a Cohesive Cybersecurity Foundation
The individual requirements for your security and risk operations are increasingly complex—and interconnected. Yet despite this increased interconnectivity, many organizations still manage their security operations (SecOps) and integrated risk management (IRM) functions in silos.
FCC teams up with CPPA to enforce privacy rules
In an effort to streamline the enforcement of California’s stringent privacy rules, the Federal Communications Commission has signed a memorandum of understanding (MOU) with the California Privacy Protection Agency.
Unisys, three other firms fined a combined $7M for underplaying damage from SolarWinds hack
Four current or former public companies will pay a total of nearly $7 million in fines to settle charges by the Securities and Exchange Commission that they underplayed or failed to disclose material information about how the SolarWinds Orion hack affected them.
Keys to a successful GenAI use policy: Clear roles, training, vendor management
For all the hype surrounding generative artificial intelligence, the technology has been met with a healthy skepticism in the compliance community. Compliance practitioners want to know: Is it safe? Can it be deployed ethically? Are the risks greater than the rewards? And what should an AI acceptable use policy contain?
NYDFS expects banks, firms to cut risks posed by AI, according to new guidance
New York financial institutions are expected to address cybersecurity risks posed by artificial intelligence, and new guidance from the New York Department of Financial Services is aimed at helping firms do just that.
Pace of innovation will make EU AI Act hard to enforce, experts say
Concerns about how robustly European member states may enforce the EU AI Act, which took effect on Aug. 1, are divided between if regulators will take a “light touch” approach or a sledgehammer for noncompliance. One thing’s for sure, the pace of AI innovation will make enforcement very difficult.
Government contractor fined $307K after third-party hack compromised personal data
It was a double whammy of cybersecurity no-nos for a federal contractor hit with a data breach: The personal data of Medicare beneficiaries contained in unencrypted screenshots were allegedly compromised when their third-party vendor’s server was hacked.
CPE Webcast: Trust and Technology: Cyber compliance in finance
In today’s rapidly evolving digital landscape, the stakes are high–protecting customer data, ensuring operational resilience, and maintaining trust are critical considerations for regulated industries.
American Water Works discloses probe into cybersecurity breach
American Water Works Company, which supplies drinking water and wastewater to 14 million customers, disclosed a breach of its computer networks and system due to a cybersecurity incident.
Companies are slowing AI launches in Europe, some say European Union regulations are why
The European Union’s Digital Markets Act is forcing many Big Tech companies to postpone the launch of artificial intelligence-powered features, like Apple Intelligence, over user privacy and data security concerns.
T-Mobile reaches $31.5M settlement with FCC over multiple data breaches
T-Mobile, which experienced three huge data breaches in the past three years, agreed to pay $31.5 million in penalties and remediation for failing to protect millions of its customers’ personal information as part of a settlement with the Federal Communications Commission.
Deloitte survey: AI adoption raising concerns about trust, reputational damage, ethics
As the artificial intelligence boom sweeps into the business world, employees are increasingly concerned about ethics questions and data privacy, a new Deloitte survey found, leading them to increasingly lose trust in their organizations.
Webcast: Five automation trends to modernize InfoSec compliance
In this session, we’ll introduce a new approach to enterprise-wide program development and automation that can meet the modern complexity of businesses today.
CISA creates new portal for businesses to file cyber incident reports
The U.S. Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency has created a new online portal for organizations to voluntarily report cybersecurity incidents, including ransomware attacks.
DOJ joins compliance officers in lawsuit over Georgia Tech cyber lapses
The Department of Justice joined a whistleblower lawsuit filed by two former Georgia Tech compliance officers who alleged that the institute violated the False Claims Act by knowingly failing to meet cybersecurity requirements in a Department of Defense contract.
How are you keeping up? The adoption of AI in compliance
Artificial intelligence is rapidly transforming the business landscape, and this is especially true for anyone working in compliance. But while AI offers immense potential to streamline processes, enhance decision-making, and mitigate risks, it also introduces a new set of challenges that compliance professionals must navigate.
SEC orders Equiniti to pay $850K over alleged lax cybersecurity
Equiniti Trust Company has agreed to pay $850,000 to the Securities and Exchange Commission to settle allegations that its failed security measures allowed millions in client funds to be stolen in two cyber incidents.
SolarWinds partial dismissal casts doubt on SEC Cybersecurity Rule
A partial dismissal of charges levied by the Securities and Exchange Commission against Solarwinds has cast doubt about the breadth of the SEC's Cybersecurity Rule.
DORA set to enhance cyber resilience requirements for EU financial firms
The European Union’s Digital Operational Resilience Act, which is set to take effect next year, will require financial services firms to implement stronger measures to protect not only themselves from disruption caused by cyberattacks but also the sector as a whole.
AI can help reel in ‘unsustainable’ breach costs, IBM report finds
The global average cost of a data breach jumped to an all-time high for the second year in a row, but companies can reel in the ballooning drag on profits by adopting artificial intelligence, according to an IBM report.
FCC fines Charter Communications $15M over failing to report 911 outages
Charter Communications agreed to pay $15 million and put in place a “robust” compliance plan, including cybersecurity upgrades, to settle allegations it didn’t comply with emergency 911 and network outage notification rules, the Federal Communications Commission announced.
CPE Webcast: Proactive AI compliance: 4 essential steps to minimize exposure
As artificial intelligence (AI) continues to advance rapidly and organizations expand their usage to optimize efficiency and productivity, implementing internal AI policies to ensure regulatory compliance and minimize exposure remains a hot topic.
Tufin names general counsel
Network and cloud security policy automation provider Tufin has named Christian Na as general counsel.
Allegion announces general counsel
Global security products and solutions provider Allegion appointed Stacy Cozad as senior vice president, general counsel, and corporate secretary, effective Aug. 5.