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In today’s business world, companies depend on third-party vendors for everything from IT support to supply chain logistics. While these partnerships offer many benefits and efficiencies, they also come with added risks. Effective Vendor Risk Management helps businesses continually identify and manage risks, protecting them from potential security breaches and...
The European Union’s General Data Protection Regulation (GDPR) sets a high standard in the world of global data privacy and security. Known for its strict requirements and robust enforcement, the GDPR poses a considerable challenge for companies within its reach. However, for businesses planning to expand into the United States,...
Ensuring the security of data and computer systems is an ongoing battle for all businesses operating in the digital age. The stakes have always been high with a company’s reputation and financial stability on the line. Over the past few years, large data breaches have affected healthcare companies, financial institutions,...
Artificial intelligence (AI) has been a trending topic that we have been exploring and discussing as it continues to rapidly advance technologically. One thing to keep in mind as AI advances, is how this impacts professional settings. An organization must understand the advantages and disadvantages that AI can bring into...
Remote workers come with many benefits, such as improved work life balance and increased productivity. However, there are some security risks that are unique to employees working remotely. A better understanding of the potential risks can develop procedures to better protect your business. Personal Computers A company owned computer likely...
The SEC has released adopted amendments to Regulation S-P and formalized them in a final rule to address cybersecurity risks. They also released a companion fact sheet, which helps outline the impacts of the final rule and it’s requirements that covered institutions (including broker-dealers, investment companies, and certain other financial...
Recently, the Federal Deposit Insurance Corporation (FDIC), the Board of Governors of the Federal Reserve System (FRB), and the Office of the Comptroller of the Currency (OCC) issued the Third-Party Risk Management: A Guide for Community Banks (the guide). A community bank’s reliance on third parties does introduce operational, compliance,...
Purchasing or selling a business is fraught with complexities, from financial statement due diligence, to ensuring that the right resources are in place before, during, and after the transaction. Legal and even environmental considerations also can be complex, time consuming, and resource intensive. One area that often gets overlooked is...
Whether they’re ensuring high quality care and patient safety, managing costs or complying with regulations, healthcare organizations have a lot to consider in order to run properly. One strategic tool that healthcare organizations can adopt to enhance efficiency is Artificial Intelligence (AI). AI is revolutionizing industries worldwide, and healthcare is...
The Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency (CISA) recently released a Notice of Proposed Rule Making (NPRM) detailing the Cyber Incident Reporting for Critical Infrastructure Act (CIRCIA). This proposal mandates that companies report cybersecurity incidents and ransomware payments within strict timelines. Public comments on the NPRM are...
