Cybersecurity is at the forefront of everyone’s minds as we kick off the new year. In December, the Log4j exploit, a bug within the Log4j Java-based logging library, rose to prominence, leaving cybersecurity experts everywhere racing to patch it. Logging programs normally keep records within software, but it was recently discovered that this library allows for Remote Code Execution, letting malicious agents run their own code or conduct denial-of-service attacks on servers using the…
Compliance teams are facing increased pressure internally and externally to protect their organization against bribery and corruption risk. The Foreign Corrupt Practices Act (FCPA) Resource Guide, released by the Department of Justice and the Securities and Exchange Commission, states that: “Effective compliance programs are tailored to the company’s specific business and to the risks associated with that business. They are dynamic and evolve as the business and the markets change…. A company’s compliance and…
Regulatory change has come in a flurry to begin the new year, and compliance professionals are under increased scrutiny to keep pace. To help financial institutions remain compliant, each month Quantivate will provide our blog readers with access to the top attorney-generated compliance alert our customers receive. This month, the top alert reminded customers that as of January 1, 2022, the Consumer Financial Protection Bureau (CFPB), Federal Reserve Board (FRB), and Office of the…
Environmental, social, and governance (ESG) policies and practices have become a hot topic for discussion among both corporate leadership teams and regulatory agencies in recent months. Risk Management Magazine summarizes some of the circumstances that have contributed to ESG’s rising profile in risk and compliance management strategies: “The concept has been around for years, but myriad factors increased its prominence in the last year: the ongoing COVID-19 pandemic, the unprecedented social unrest in 2020,…
2020 and 2021 brought unforeseen challenges for organizations of all kinds, prompting many to take stock of their governance, risk, and compliance (GRC) management practices. Moving forward, leadership teams must take a proactive approach to addressing compliance risks and developing policies that support effective governance. 3 Compliance Challenges to Prepare for in 2022 As executives and compliance professionals alike consider how to make risk-based decisions about managing uncertainty, let’s look at a few areas…