These are some of the compliance related stories that recently caught my attention:
Cybercriminals Have Your Business In Their Crosshairs And Your Employees Are In Cahoots With Them by Ivy Walker
So how are your employees in cahoots with cyber attackers? Because the number one way hackers gain access to small business networks is when someone on that network clicks a link or an attachment in a malicious email. Once inside your network, the attackers can do things like steal or encrypt your data.
https://www.forbes.com/sites/ivywalker/2019/01/31/cybercriminals-have-your-business-their-crosshairs-and-your-employees-are-in-cahoots-with-them/#4e8a88fd1953
Retaliation Against CCOs: Three Tales by Matt Kelly
We hear those stories from time to time: a compliance officer reports some concern to management (otherwise known as doing your job), and management responds by punishing the compliance officer rather than considering the issue itself. Lately I’ve seen a string of such cases in the news, so in the interest of defending this noble profession, let’s take a look at them.
http://www.radicalcompliance.com/2019/02/04/retaliation-ccos-three-tales/
Crypto-Exchange Says It Can’t Pay Investors Because Its C.E.O. Died, and He Had the Passwords by Karen Zriack
A Canadian cryptocurrency exchange said it could not repay at least $250 million to clients after its chief executive died suddenly while visiting India. The company, Quadriga CX, said in court filings that the C.E.O., Gerald W. Cotten, was the only person who knew the security keys and passwords needed to access the funds.
https://www.nytimes.com/2019/02/05/business/quadriga-cx-gerald-cotten.html
Cleary Gottlieb Reviews 2018 Cybersecurity and Data Privacy Developments by Pam Marcogliese, Rahul Mukhi, Katherine Carroll, Alexis Collins and Emmanuel Ronco
In 2018, data privacy and cyber breaches made headlines throughout the year. Major companies continued to suffer data breaches, highlighting the risks and potential costs of cyber incidents across industries. At the same time, a growing and overlapping thicket of data security and privacy regulations—within the U.S., European Union, Latin America, and elsewhere—continued to increase compliance costs and regulatory risks. This memo surveys some of the key cybersecurity and data privacy developments of 2018, including the major data breaches and cyber-attacks, regulatory and legislative actions, and notable settlements and court decisions.
http://clsbluesky.law.columbia.edu/2019/02/06/cleary-gottlieb-reviews-2018-cybersecurity-and-data-privacy-developments/
NFL to Hire Director, Compliance by David D. Dodge
The NFL’s move to provide guidance to its teams’ compliance programs resembles in some respects the NBA’s recent directive to its member teams. NBA Commissioner Adam Silver recommended that each team take steps similar to those taken by one of its teams, the Dallas Mavericks, in building an effective compliance program – all with an eye towards each team having its own effective compliance program.
http://complianceandethics.org/nfl-to-hire-director-compliance/
Requisition Title: Director, Compliance
NFL Compliance partners with Security and Internal Audit and other League functions to identify and manage risk — legal, financial, and reputational. NFL Compliance is responsible for ensuring effective policies and procedures mitigate these risks, that NFL staff understand these policies and procedures, and to provide guidance and serve as a resource to staff. NFL Compliance monitors for adherence to league policies and procedures and reviews potential situations of non-compliance. Managing risks relating to third-party vendors is also an important feature of the League’s compliance program. NFL Compliance supports all League offices, including international, and provides guidance to NFL teams.
https://nfl.taleo.net/careersection/nfl_ex/jobdetail.ftl;jsessionid=qM7DMYVY7Fkp0WWw5AnwH6xeAKeRCm_4-g_XCpxIIdT3Xcbr0cLR!-682138332
The Director will assist the Vice President of Compliance in promoting a corporate culture where employees meet the NFL’s core values, acting with integrity and following the highest ethical standards.