Northern Ireland Justice Minister Naomi Long has launched two consultation documents on measures to eradicate modern slavery from the supply chains of public- and commercial-sector organizations.
The more we learn about the SolarWinds hack, the more troubled compliance officers should be by the scope and breadth of the risks their companies might have incurred.
For most companies, supply chain risk management traditionally focuses on managing physical third-party risks. But what the SolarWinds cyber-attack revealed is the catastrophic havoc fourth and fifth parties can also wreak in the often-ignored cloud supply chain.
This year has been one most of us would like to forget. As we look toward 2021, nevertheless, it is worth considering lessons learned over the last 12 months and (where possible) drawing on any positives that have come to light regarding the financial crime landscape.
The Department of Justice alleged many failures by Walmart’s compliance program in its 160-page lawsuit accusing the retailer of playing an active role in fueling the opioid epidemic.
Former chief of the SEC’s FCPA Unit Kara Brockmeyer shared what regulators are looking for when they assess a company’s relationship with its third parties at Compliance Week’s TPRM Virtual Summit on Thursday.
Maintaining the status quo with your vendor risk management program is no longer acceptable in today’s ever-changing marketplace as supply chains can drastically change overnight.
Mondelēz International has become among the latest consumer goods companies to tighten its sourcing requirements for palm oil, improving its traceability of suppliers. But recent analysis also finds the industry has a long way to go in its progress.
How do we, as AML professionals, assess negative media alerts? It should start with a conversation with the client relationship manager, but it shouldn’t end there, writes Martin Woods.
The COVID-19 pandemic has certainly changed the landscape of global risk, and many organizations are quickly adapting their third-party risk management processes as a result.
Join Kroll for an opportunity to learn how you can help your organization better minimize risks in the post-COVID-19 world.
In this week’s “Nailed It or Failed It?”, Disney gets kudos for throwing its weight behind the #StopHateForProfit protest, while PG&E earns criticism after being found responsible for yet another California wildfire.
Businesses are rethinking their strategies to maintain operations, minimize supply chain disruption, and manage heightened exposure to financial, legal, regulatory, or reputational risks.
Recent reports of underpaid workers at suppliers for U.K. fashion retailers Boohoo and Quiz shed light on inherent weaknesses in companies’ monitoring of their supply chains.
In performing due diligence on your supply chain partners, do not be intimidated into accepting no for an answer. Being blind to potential risks is bound to get you into trouble, writes financial crime expert Martin Woods.
As companies around the world begin to manufacture products outside their comfort zone to address dire shortages in personal protective equipment amid the pandemic, compliance practitioners are negotiating new risks and challenges.
If the coronavirus pandemic has taught us anything, it’s that we need a more resilient food supply chain. Jaclyn Jaeger explains what that could look like and how the public and private sector could play their parts.
A global advisory to alert the maritime, energy, and metals sectors about common deceptive shipping practices used to evade sanctions includes seven sanctions compliance best practices to mitigate risk.
The coronavirus pandemic has made getting together for our annual National Conference impossible, but it’s also made this virtual gathering (Monday and Tuesday) perhaps the most important one we’ve ever had.
A number of forward-thinking companies are using the coronavirus pandemic as an opportunity to drive promising innovations in their global supply chains.
As financial hardships caused by the coronavirus pandemic take their toll, some forward-thinking companies have made changes to the benefit of suppliers, serving as leaders for others in their industry.
Compliance and ethics fails during the coronavirus pandemic have done more than hurt companies’ images. They’ve cost lives.
Compliance professionals are all too aware that the third parties they depend on to achieve success pose a significant threat to their organizations for bribery, fraud, and corruption.
The coronavirus pandemic has affected both the risk landscape and the diligence protocols for merger and acquisition transactions at every stage of the game. But while deal terms may be negotiable, what should be non-negotiable is the compliance function’s role in M&A transactions.
The coronavirus pandemic has created a sea of red flags in every company’s supply chain. When each alert indicates a possible disruption, which ones do you act on?
Boeing announced several leadership and organizational changes, to take effect May 1, as the airline industry braces for post-pandemic turbulence.
Pandemics represent a unique disaster risk scenario as a result of “cascading risk,” which poses an immense challenge to risk leaders due to progressive failures that will result in the deterioration of the health of third parties and supply chains.
As the COVID-19 coronavirus brings convulsive exposure to supply chain risks to the surface, many companies will be unable to see how the companies that their first-tier suppliers depend on are affected.
Compliance officers will want to check out a new index revealing a sharp decline in manufacturing imports from China and other dramatic shifts in the supply-chain risk landscape, a trend that will only continue due to the coronavirus.
Due diligence, data, solvency, and supply chain management risks are just some of the issues Europe’s employers are struggling with as normal business has come to a standstill during the coronavirus pandemic.
The American Petroleum Institute in a letter to President Trump requested that the administration temporarily waive non-essential compliance obligations and provide timely guidance to critical infrastructure personnel amid the coronavirus pandemic.
The potential for the coronavirus outbreak to lead to a global recession topped the list of concerns among finance leaders based in the United States and Mexico, according to a new survey released by PwC.
Although the coronavirus situation is constantly changing, lawyers say there are several areas of corporate life that are going to test compliance officers and which management will need greater assurance on.
The coronavirus pandemic has elevated “force majeure”—a rarely-used, relatively obscure contract provision—to a top-of-mind issue for companies scrambling to figure out where gaps are forming in their supply chain.
As the coronavirus worldwide pandemic spreads, the ramifications for any business has gone from temporary disruption to a serious impediment. Here are 10 steps your company can take to mitigate its risks.
A new executive order issued in January places additional sanctions on a much broader portion of Iran’s economy and, from a compliance and risk management standpoint, puts a broader range of companies in the crosshairs of U.S. enforcement.
Companies wondering how to handle risks the worldwide coronavirus outbreak will have on global supply chains should look for clues to the Great Recession of 2008-09, the last time so much capacity stood idle.