Articles

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You Got the Job! Now What?

Starting a new role is stressful, but doing so entirely virtually presents unique difficulties. Amy Landry shares her experience onboarding remotely and offers guidance for overcoming those challenges. "A new job is not a new beginning. It is a path to create a new ending." – Unknown One of the greatest feelings in life is...

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Diligent to Become Largest Global GRC SaaS Company Through Galvanize Acquisition

Diligent’s Acquisition of Galvanize, in Addition to its Planned Acquisition of Steele Compliance, Unites GRC Leaders and Creates Only Modern GRC SaaS Platform that Brings GRC into the Boardroom NEW YORK, NY and Vancouver, BC (February 24, 2021) – Diligent Corporation (“Diligent” or the “Company”), the modern governance company with a platform used by nearly 700,000...

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The Intersection of EDD and Banking Cannabis

As the cannabis industry continues to grow, so does its demand for banking services. Brandi Reynolds champions an enhanced due diligence (EDD) program specifically for these customers. A quick read through recent regulatory enforcement actions against financial institutions will show that regulators are intensely interested in higher-risk customers and in the enhanced due diligence (EDD)...

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Ethisphere Announces the 2021 World’s Most Ethical Companies

135 Honoree Companies Recognized for Their Unwavering Commitment to Business Integrity and Valued-based Leadership New York, NY (February 23, 2021) – Ethisphere, a global leader in defining and advancing the standards of ethical business practices, today announced the 135 honorees representing 22 countries and 47 industries that have earned the coveted designation of World’s Most...

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The Corporate Transparency Act: Pulling Back the Veil

The Corporate Transparency Act (CTA) will require millions of U.S. businesses to provide beneficial ownership information to the federal government. Foley Hoag’s Luciano Racco weighs in on who’s impacted, along with the regulation’s value for AML and sanctions compliance programs. Buried within the 1,400-page National Defense Authorization Act for Fiscal Year 2021 (the NDAA) –...

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Cashless Payments: AML and BSA Risk Management

The COVID-19 pandemic has led to more interest in cashless payments in the gaming industry, but casinos need to consider Bank Secrecy Act (BSA) and anti-money laundering (AML) compliance program implications prior to introducing this new payment option. Deloitte’s Matt Lappas discusses three key areas of focus to strengthen casino compliance programs. According to research...

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Changing the Culture, One Process at a Time

When I tell people that changing the culture is an outcome of processes, I often get a faint nod of understanding, mixed with an inquisitive look. They intuitively get it but they are not sure what it looks like in real life. What Changing the Culture Looks Like On the Ground Let me share an...

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SOC 2 Compliance: Why You Should Care

Towerwall’s Michelle Drolet discusses the two threads of SOC 2 compliance (types 1 and 2), outlines the Trust Services Criteria, and details the benefits of adhering to these standards. While Service Organization Control (SOC) 2 compliance isn’t mandatory, it can bring a range of benefits for your organization. Created by the AICPA (American Institute of...

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The Rise of ESG In Response to Investor Demand

Finance experts are increasingly aware of environmental, social, and governance (ESG) issues. This trend did not come out of nowhere; it's a response to investor demand. Michael Volkov explores the growth of ESG and the actions companies can take now. Corporate governance sometimes is the subject of “fads,” or initiatives that gain traction with dubious...

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LexisNexis® Risk Solutions and Accuity Join Operations

Leading Business Analytics Companies Combine Strengths to Help Customers Empower Risk Decisions (February 18, 2021) – Accuity and LexisNexis Risk Solutions announced they are merging operations. Both businesses are RELX companies and leaders in their respective focus areas in the global financial crime compliance sector with complementary solutions. Accuity is part of the LexisNexis Risk...

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Biden’s Inauguration Heralds a New Era in Financial Regulation

Known for its “America First” policy, the Trump administration led a push to roll back financial regulatory measures. As Acuity Knowledge Partners’ Bijaya Das and Nishanth Neeli explain, the Biden administration will usher in another wave of change, seeking to combat economic inequality and social injustice through increased financial regulatory efforts. In the aftermath of...

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Maintaining Screening Compliance in a Recession

New and expanding legislation combined with COVID-19-related shifts in the labor market will present new hiring and talent management challenges in 2021. Corporate Screening’s Matt Jaye discusses a fresh approach, trends to watch and what employers can do to stay ahead of the curve. Though 2020 is behind us, the events of the previous year...

Hogan Lovells: Global Bribery and Corruption Outlook 2021

Hogan Lovells: Global Bribery and Corruption Outlook 2021

As we enter 2021 with considerable uncertainty, a new report from Hogan Lovells highlights expectations for a year that will be shaped by ongoing political disruption and pandemic-related pressure. Despite these unpredictable times, Hogan Lovells attorneys have identified several unifying trends across key industries and jurisdictions globally, including: An expectation for continued cross-border enforcement activity...

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Assessing Emerging Tech’s Impact on Financial Services Compliance

In the financial services sector, compliance processes are often reactive, rather than proactive. But new technology use cases are changing that. Northern Trust’s Dan Houlihan discusses how the compliance field will evolve thanks to AI, blockchain and better data management practices. As new regulations emerge globally, compliance requirements for financial services firms continue to grow,...

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Dynamic Risk Governance: Linking Strategy and Risk Management

The traditional approaches to coordinating risk and assurance were once useful, but the environment has changed. Gartner’s Malcolm Murray argues against the continued use of these approaches and for corresponding change. As organizations emerge from the COVID shocks of 2020, it is becoming clear that many organizations have spread themselves too thin and now need...

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5 Ways Software Can Simplify Compliance

Software can make compliance simpler and easier for as long as the pandemic lasts (and beyond), from doing the heavy lifting when it comes to pre-clearing trades to being able to delegate review authority with the click of a mouse. StarCompliance’s John Grgurich writes. The world is facing more questions than ever surrounding the coronavirus...

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A Boom in Privacy Regs Complicates Compliance

Data privacy protections are on the rise globally, and every new law and amendment will add to the challenge of maintaining data privacy compliance. Morrison & Foerster’s Cynthia Rich discusses recent changes and what to expect this year and beyond. Looking back over the past 10 years, the increase in the number of data privacy...

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Compliance, Culture and COVID

GRC pros know that culture and compliance are inexorably linked. COVID has thrown a wrench in corporate culture, though (along with everything else). Calvin London opines about why re-establishing a culture of compliance now may prove difficult. (Non)Compliance in 2020 I, for one, was very glad to see the back end of 2020. It was...

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New Threat Jeopardizes GDPR Compliance

Email phishing is at its highest level in three years, and one of the latest lines of attack capitalizes on the strict rules of GDPR, targeting executives and public-facing emails at businesses. Valimail’s Seth Blank examines how to protect your organization. While much has changed over the past year, some things have stayed the same....

Boeing Fraud Enforcement Action

Boeing Fraud Enforcement Action

One of the top corporate scandals over the past few years entered its next phase with the settlement by the DOJ with Boeing around its fraud in the certification of its 737 MAX aircraft. Tom Fox offers background (including the company laying blame at the feet of the pilots, despite knowing of flaws in the...

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The COVID Trio: 3 Top Risks from a Year of Upset

Allianz Risk Consulting’s Thomas Varney considers the connection between some of the top risks businesses faced as the COVID pandemic raged – and what the future may hold in terms of managing these risks. Business interruption (BI), pandemic outbreak and cyber incidents rank as the top three risks in the Allianz Risk Barometer 2021 –...

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The Most Significant Change to AML Rules Since the Patriot Act

Anti-money laundering laws have now seen the most significant reformation of the Bank Secrecy Act since the adoption of the USA PATRIOT Act. Rimon Law’s Thomas Fawell examines the new AML laws. The newly enacted National Defense Authorization Act (NDAA) imposes the most significant reformation of the Bank Secrecy Act (BSA) and related anti-money laundering (AML)...

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NICE Launches Next-Gen Compliance Solution

Selected by several top ten global FIs, NTR-X captures all modalities of regulated employee communications enabling regulated firms’ digital communication transformation Hoboken, NJ (February 1, 2021) – Stringent regulations and complexities arising from new communication modalities and remote, distributed workforces are widening compliance gaps, placing financial and energy trading firms at further risk for fines and...

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The Top Regulatory Trends to Watch in 2021

Whether it’s global reforms in combatting financial crime, the impact of Brexit or the acceleration of digitalization in financial services, 2021 promises to be a year to watch in terms of financial regulatory trends. Fenergo's Rachel Woolley covers the top regulatory trends to watch for this year. 1. Increase in Reforms Across the Globe Many...

Allianz: Risk Barometer 2021

Allianz: Risk Barometer 2021

A trio of COVID-19 related risks head up the 10th Allianz Risk Barometer 2021, reflecting potential disruption and loss scenarios companies are facing in the wake of the coronavirus pandemic. Business interruption (BI) (41 percent) and pandemic outbreak (40 percent) are this year’s top business risks, with cyber incidents (40 percent) ranking a close third. The annual...