Conflict of Interest Issues – A Significant Risk

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allocation, AML, antitrust, business, CCO, compliance, conflict, control, export, fraud, intrest, key, legal risks, mitigation, priority, program, resources, risk, sanction, strategy, transparency, violation

In the risk mitigation business, we often focus on legal risks, such as anti-corruption, sanctions, export controls, antitrust and AML. As compliance programs mature, and the CCOs focus on proactive strategies, one key issue is conflict of interest.

My experience with conflict of interest issues has confirmed that such conflicts often mask more serious compliance issues relating to fraud and even legal violations. As such, every CCO should consider making conflict of interest issues a higher priority in the scope of risk ranking and allocation of resources.

How Hackers Plan Attacks and Hide Their Tracks — Fortune

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attacker, computer, cyberattack, electronic assault, hacker, identification, mail, mask, mechanism, network, organization, plan, proxie, recognize, resources, security, shadow, tactic, track

A report exposes attackers’ shadowy tactics.

Oftentimes, priority no. 1 for a hacker preparing to launch a cyberattack is finding a suitable launchpad. The goal: to obfuscate the origin of an attack.

To mask themselves, attackers generally compromise computer servers and networks operated by other organizations. These nodes then serve as unwitting springboards for further electronic assaults.

« The important thing is to recognize how an attacker works, » Oren Falkowitz, co-founder and CEO of Area 1 Security, a cybersecurity startup based in Redwood City, Calif., tells Fortune. « Consistently, what they’re doing is setting up shadow infrastructure—what we describe as relays or proxies. »

…

1. Through small businesses
2. Through public schools
3. Through social clubs
4. Through SCADA facilities

…

 

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Doing the Two-Step : Prioritizing Risks and Allocating Resources

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allocation, CCO, CCOs, chief compliance officer, code of compliance, code of conduct, company, compliance, compliance stakeholder, compliance tools, control, cost, cultural risk, décision, design of control, efficient, grey area, impact, intuitive analysis, laws, legal risk, plan, reduce risk, regulations, reputational risk, resources, risk profile, risk-management, risks, strategy, tools

Eléments de réglementation

Chief compliance officers face imposing tasks on a daily basis. The tasks often look insurmountable and it is easy for CCOs to just turn away and find a more manageable set of tasks.

Anti-fraud collaboration

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anti-fraud, behavior, board of directors, code of conduct, controls, culture, détection, employees, ethic, finance, financial reporting, financial reporting fraud, fraud, management, opportunity, organization, pressure, principes, rationalization, reporting, resources, risk-management, support

Studies show that organizations that encourage ethical behavior aree more resistant to misconduct of all kinds, including financial reporting fraud.