Diversity, equity, and inclusion; prioritizing ESG; business continuity; and more highlight the latest edition of NAVEX’s annual list of risk and compliance trends worth monitoring.
Morgan Stanley has agreed to establish a $60 million fund to settle a class-action lawsuit filed by nearly a dozen customers regarding personal data that was compromised when the bank decommissioned two wealth management centers.
A recent survey from Compliance Week and Riskonnect presents a compelling argument for companies to invest in bridging the gap between risk management and compliance data.
The Norwegian Data Protection Authority announced a fine of NOK 65 million (U.S. $7.2 million) against gay dating app Grindr for sharing personal data with third parties without users’ consent.
The New York State Department of Financial Services outlined common vulnerabilities in multi-factor authentication and how to address them from a cybersecurity risk management standpoint.
Banks and financial institutions regulated by the OCC faced elevated risks in 2021 from cyberattacks launched on them and their third parties, as well as compliance risks related to the pandemic, according to the agency’s latest report.
In the midst of unimaginable global supply chain chaos, leading companies are adjusting their supply chains in a variety of ways, turning disruption into competitive advantage.
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.
When building an efficient vendor risk management program, it is critical to prioritize which vendors present the most risk.
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.
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.
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.
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.
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.
The Metals Technology Initiative has launched a new website making its guidance on gifts and hospitality and third-party due diligence freely accessible.
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.
Join ProcessUnity and Deloitte’s leading third-party risk practitioners as they explore key findings from Deloitte’s 2021 Global TPRM Survey. You will hear what organizations are doing in the wake of last year’s pandemic to make advancements in their approach to third-party risk.
Ransomware continues to dominate headlines with no sign of slowing down. What started more than 30 years ago has become one of the most prevalent and lucrative cyberattacks that does not discriminate by company size, industry, or geography.
Three federal banking regulators have released guidance offering tips and suggestions to community banks for conducting due diligence on potential FinTech partners.
The Financial Industry Regulatory Authority issued a notice on compliance deficiencies arising from firms’ relationships with vendors culled from examination findings.
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.
For individuals managing third-party risk, there is one primary question that needs answering: Are your vendors safe to do business with? Answering that question is not so straightforward.
ESG and its role in third-party risk management have gained prominence this past year as the awareness for environmental and social issues continue to grow.
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.
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.
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.
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.
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.
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.
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.
Third-party risk management has always been a challenging area for risk and compliance professionals, never more so than today. As the global economy rebounds, third-party risk has taken on new dimensions.
Organizations are adopting digital transformation and, as a result, increasing their reliance on third parties faster than they can scale their third-party cyber-risk management programs.
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.
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.
Today’s financial services industry operates in an environment characterized by significant regulatory scrutiny. To be compliant, organizations must be aware and adhere to regulations, guidelines, and industry standards as it relates to their vendors, suppliers and third parties.
Two months after cloud service vendor Accellion first identified one of its legacy products was targeted by a sophisticated cyber-attack, users of the product continue to feel the impact, with grocery chain Kroger the latest to reveal its exposure.
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.
This guide will help you better understand the choices before you, no matter if your organization hasn’t even cracked the seal on third party cyber risk management.
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.
Norway’s data privacy watchdog issued gay dating app Grindr with a notice of intention to fine it NOK 100 million (U.S. $11.7 million) for sharing personal data with third parties without users’ consent.