As a GRC (Governance, Risk, and Compliance) analyst, I've always been fascinated by the intersection of global politics and corporate strategy. In fact, if I could redo my career, I'd be tempted to become a geopolitical risk manager. But as I delve deeper into the world of GRC, I realize that geopolitical risk management isn't just fascinating—it's imperative.
Snowflake, a cloud data platform company, has refuted claims that it was responsible for the recent data breach affecting over 500 million Ticketmaster users. This comes after Ticketmaster initially suggested that a security weakness in a third-party cloud database environment was the cause of the breach.
In today's globalized economy, supply chains span continents, connecting a vast network of suppliers, manufacturers, and distributors. While this intricate web fuels economic growth, it also introduces significant risks, including the often-overlooked issue of workforce exploitation. As regulators tighten scrutiny and consumers demand ethical sourcing, organizations must prioritize labor rights throughout their supply chain.
The U.S. Department of Labor has filed a federal complaint against Hyundai Motor Manufacturing Alabama LLC and two of its suppliers, accusing the companies of employing oppressive child labor and seeking to stop their illegal use of underage workers.
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has taken action against two companies linked to the Russian private military company known as the Wagner Group, in an effort to counter Russia's destabilizing activities in Africa, particularly in the Central African Republic (CAR).
A Florida defense contractor has pleaded guilty to felony charges for conspiring to defraud the U.S. government, money laundering, and illegally exporting sensitive military technical data as part of an elaborate international procurement fraud.
The Office of the Comptroller of the Currency (OCC), Federal Deposit Insurance Corporation (FDIC), and Federal Reserve Board have issued new guidance to assist community banks in developing and implementing effective third-party risk management practices.