Fiduciary Duty Of Boards: When Bad Things Happen To Good Public Accounting Firms

by Bob Jones | July 7, 2020 | Banking and Financial Services, Corporate Culture, Fraud

Recent events point to the need to reexamine the Fiduciary Duty of Boards. Wirecard AG, headquartered in Munich, Germany, is a large, international payments processing fintech company.  On June 19th, the Wall Street Journal reported that funds totaling approximately $2.1 Billion appeared to be m ....

Financial Crime Risks: What A Vendor Manager Must Know About Sanctions and Money Laundering

by Charlie Miller | June 24, 2020 | Banking and Financial Services

Shared Assessments’ Continuous Monitoring Working Group recently convened to examine the financial crime risks that a vendor manager must understand. Ken Wolckenhauer, head of vendor due diligence and review for the New York branch of Finland-based Nordea Bank, led the discussion around this serio ....

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Can Stressed Chains Become Smarter Chains?

by Sabine Zimmer | April 6, 2020 | Business Continuity, Business Resiliency, Global Risk, Incident Reponse, Industry Verticals, Operational Technology (OT), Pandemic Planning, Supply Chain, Supply Chain, Third Party Risk Management

Shared Assessments’ Operational Technology Risk Management Working Group has been discussing the impact of the pandemic on factory floors across the world.    The COVID-19 pandemic’s expansion has led to labor constraints across the globe.  Companies are scrambling to develop processes ....


2020 OT Risk Perspective: IT-OT Athletes Are Rare

by Sabine Zimmer | January 4, 2020 | Industry Verticals, Operational Technology (OT)

Three decades ago, Nike’s iconic “Bo Knows” campaign featured TV commercials of teammates marveling at Bo Jackson’s incredibly rare skill set. He was the first modern professional athlete to play on Major League Baseball and the National Football League teams in the same year. The advertisin ....

Operational Technology Risk Management Requires Collaboration

by Sabine Zimmer | January 2, 2020 | Industry Verticals, Operational Technology (OT), Third Party Risk Management

[et_pb_section admin_label="section"] [et_pb_row admin_label="row"] [et_pb_column type="4_4"] [et_pb_text admin_label="Text"] In late November, The Wall Street Journal ran an exposé on cyberattacks that have struck more than a dozen utilities that operate near critical infrastructure ....

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The Fraud Implications of Weak Third Party Risk Management

by Sabine Zimmer | March 19, 2018 | Data & Cybersecurity, Data Breach, Fraud, Payments, Third Party Risk Management

By Bob Jones, Senior Advisor, The Santa Fe Group   There are three different aspects of fraud that are relevant to third parties. The first is defalcations by the third party’s employees exploiting inadequate internal controls.  The second is fraud perpetrated by the principals of the ....

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