Tag: Third-Party Risk Management

The UK Home Office has issued guidance pertaining to the newly introduced offence of failure to prevent fraud by the Economic Crime and Corporate Transparency Act 2023, set to be enforced in nine months.

Financial services companies are rushing to integrate artificial intelligence (AI) into their operations, but many are doing so without adequate governance frameworks or testing procedures.

With only three months left until DORA becomes enforceable, the AFME has highlighted significant readiness challenges. According to Corlytics, at a recent panel in London,...

Banks are increasingly turning to third-party relationships to tap into new technologies, services, and markets.

Corporate onboarding encompasses processes critical for meeting regulatory demands, including AML compliance and thorough business verification to prevent financial crime.

Ncontracts, a provider of integrated compliance, risk, and vendor management solutions, has acquired Venminder, a third-party risk management platform.

Bribery and corruption pose some of the most significant threats to the integrity of global business operations in the modern day. 

The concept of third-party risk management is hardly a fledgling idea. However, as the world becomes ever-more digitised, cybersecurity threats are now looming larger than ever before. According to research from Soha Systems, more than 60% of data breaches can be traced back to third-party vendors. This means that an effective third-party risk management strategy is not just a luxury anymore - it is a necessity.

Sprinto, a prominent player in the RegTech industry, has successfully closed a $20m Series B funding round. The investment was led by notable names including Accel, Elevation Capital, and Blume Ventures, positioning Sprinto for significant technological advancements.

Risk Ledger, a cybersecurity business specialising in supply chain resilience, has successfully closed a £6.25m series A funding round. This injection of capital comes at a critical time when third-party security breaches are at an all-time high.