Posts Tagged ‘cybersecurity’
Zoom and FTC Enforcement to Come
A few weeks ago the Federal Trade Commission took an enforcement action against Zoom Technologies for misleading statements Zoom made about the security of its videoconferencing services. The case wasn’t too exciting except for a dissenting statement from one of the Democratic FTC commissioners — which read like a foreshadowing of cybersecurity enforcement in the…
Read MoreAnother Cybersecurity Threat to Compliance
Today we circle back to enterprise cybersecurity and its role in effective corporate compliance. Why? Because researchers recently discovered a vulnerability in SAP software that lets attackers infiltrate your IT systems to steal personal data, alter financial transactions, or otherwise cause all sorts of mischief that would saddle your business with huge compliance concerns. The…
Read MoreOn Internal Control and Mr. Potato Head
Here’s one way to convey the importance of software patch management: a bunch of Canadian Tire retail stores had to close last week because “a downloading error” caused all purchases to be scanned at the checkout register as Mr. Potato Head. The Toronto Star dug up this story last week. Five Canadian Tire stores in…
Read MoreA Security Threat That Evades Internal Control
Well this is sobering stuff for internal auditors and SOX compliance professionals: a cybersecurity firm is raising alarms about flaws in the Oracle business software that countless companies use to manage their finances, which lets hackers steal or alter financial data — all undetectable by standard internal controls or GRC technology. Be warned, this is…
Read MoreFresh SEC Tips on Cybersecurity
The Securities and Exchange Commission released fresh advice on Monday about cybersecurity risk, on everything from oversight of cybersecurity risk to nitty-gritty practices around access controls, vendor management, operational resiliency, and more. Compliance, security, and risk professionals will want to give this a read. The advice comes in the form of a 13-page bulletin published…
Read MoreFTC Warns on Data Security Orders
The Federal Trade Commission posted a reminder Monday of its “new and improved” data security orders, which compliance and risk professionals might want to read for its lessons about cybersecurity oversight and compliance generally. The statement, published on the FTC Business Blog, reviews several changes the FTC made last year to its data security orders.…
Read MoreOperational Resiliency, Part II
Well this is convenient: one week after we had a post exploring the intersection of operational resiliency and compliance, two examples of the issue ripped from the headlines show just how much this obscure idea has real impact on compliance professionals’ lives. First, one of the Federal Reserve’s top regulators said last week that the…
Read MoreSecurities Enforcement Forum 2019
Several hundred securities enforcement professionals gathered in Washington on Wednesday for the 2019 Securities Enforcement Forum. Radical Compliance couldn’t be there in person, so we gathered a bundle of dispatches from social media to give a flavor of what was discussed. After all, when under SEC investigation, you want the experience to be as enjoyable…
Read MoreWhen Sanctions and Cybersecurity Collide
Compliance professionals talk constantly these days about cybersecurity, third-party risk, and sanctions compliance. Now we have an example from the news that is one headache-inducing brew of all three — and also, I fear, a harbinger of compliance and risk challenges to come. The company in question is Hikvision, a Chinese maker of security cameras.…
Read MoreAudit Firms, Cybersecurity Risk, and You
A member of the Public Company Accounting Oversight Board gave a speech last week about the role of audit firms in cybersecurity — and raised a point people seldom say aloud: the audit firm’s role is a relatively small one. Kathleen Hamm, a member of the PCAOB since last year, gave her remarks at a…
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