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A survey of 625 executives who are familiar with their organization’s management of data risks found 56% said their business suffered a breach caused by a third party, up 7 percentage points from 2016.
Also known as mandate fraud, invoice fraud or business email compromise, firms have reported losses of between £12 million and £15 million on average per month, but that is likely a fraction of the problem as it goes unreported.
The International Olympic Committee suspended its Brazilian arm amid an investigation into corruption allegations.
A Connecticut-based paper company was penalized by the U.S. Treasury Department after selling and shipping more than 540 metric tons of paper from Canada to Sudan.
Canada's version of the Magnitsky Act means an added workload for companies navigating the country’s sanctions rules.
North Korean workers prepare U.S.-bound seafood and much of their salaries are kicked back to Pyongyang, which uses the funds to build its nuclear program.
PacNet Group, a Canadian payment processor the U.S. has accused of ripping off the elderly, ended business operations and has begun to wind down, according to a U.S. Treasury Department official.
News that a court in Ireland requested a review by the European Court of Justice of the legality of contracts governing data transfers between Europe and the U.S. eventually could have big ramifications.
Home builder KB Home gets a turn on the crisis wheel after its chief executive, Jeffrey Mezger, was caught on an audio recording berating his neighbor, comedian Kathy Griffin, in a profanity-laden rant that contained sexist and anti-gay language.
Brazilian judge Sergio Moro hinted the country's Car Wash investigation may be nearing its end.
Ethics and compliance policies should reflect the messages and culture a company wants, according to ethics and compliance firm LRN.
A former South Korean earthquake research official was sentenced to 14 months in prison after he was convicted of laundering money linked to bribes he took from seismology companies.
Revenue-recognition rules that will change the way many companies book and record their sales are proving to be even more difficult for health-care companies already working to adjust to changing reimbursement methods.
A former managing director of institutional fixed-income sales at a broker-dealer avoided jail after admitting she gave free trips and other perks to an ex-New York State pension fund manager to steer trading business to her firm.
A Wall Street Journal analysis of 2017 model-year data on the origin of the thousands of parts that make up an automobile found glaring inaccuracies and a lack of consistency in how car companies report.
A year before Equifax disclosed a breach that compromised the private information of 145.5 million consumers, MSCI warned of signs that the credit reporting firm was failing to protect its data.
The Trump administration wants to do away with signature markets regulations of the financial crisis era, including a requirement that companies show how much CEOs are paid compared to average workers.
The Trump administration said it is rolling back an Affordable Care Act requirement that employer-provided health benefits include contraception, a move that will likely spark immediate litigation.
Fox News general counsel Dianne Brandi has been with the network since its launch in 1996 and was named among the defendants in several discrimination and harassment lawsuits against the network.
Iranian officials are refusing to make any changes to the landmark 2015 nuclear deal signed with six world powers, as President Trump weighs whether to declare that Tehran isn’t complying with the accord.
The Trump administration said it will ease sanctions against Sudan that have made the African state an international pariah since the 1990s, citing progress in the fight against terror in the region.
Nissan faces possible penalties and a sales crunch over safety-check violations at its factories in Japan, which have forced the recall of nearly all the vehicles the company has sold there in the past three years.
The U.S. Chamber of Commerce outlined its objections to the Trump administration’s proposals for rewriting Nafta and said it aims to keep the ideas from advancing in talks with Mexico and Canada.
Moves pressure separatists and come as Spanish official apologize for police violence during independence referendum last week, in a conciliatory note.
A U.K. subsidiary of Rupert Murdoch’s News Corp apologized in court here and agreed to pay damages to a former British intelligence officer whose computer was hacked by a private investigator working for the now-defunct News of the World.
India eased rules for small businesses and exporters under its new tax system, the goods-and-services tax, amid growing criticism that poor implementation is hurting business in the South Asian economy.
The securities industry is pushing back against a new Nevada law raising broker standards of care, highlighting industry concern that state rules could mushroom as the federal fiduciary rule hangs in limbo.
A suspected Chinese cyberattack on the website of a prominent Washington think tank drew a complaint from Attorney General Jeff Sessions this week in a meeting with top Chinese government officials.
U.S. lawmakers are dialing up pressure on the Trump administration to expand sanctions aimed at North Korea to dozens of businesses described by U.S. and United Nations officials as components of North Korea’s illicit financing networks.
U.S. trade officials on Friday ruled that Bombardier Inc. unfairly discounted sales of a new jetliner, setting up a battle as to whether Boeing Co. suffered any harm from competing with its Canadian rival.
Facebook cut references to Russia from a public report in April about manipulation of its platform around the presidential election because of concerns among the company’s lawyers and members of its policy team, according to people familiar with the matter.
Yogurt-maker Dannon Co. was shocked and disheartened by the comments by Cam Newton and has ended its ad deal with the athlete.
The Trump Administration wants to give the federal flood insurance program the authority to stop providing coverage for frequently flooded properties.
The U.S. Postal Service said it would raise stamp prices and other shipping rates next year, shortly after warning of a dwindling cash cushion and skipping payments into a retiree fund for the fifth straight year.
The Trump administration’s chief trade negotiator plans to propose significant changes to a central aspect of the North American Free Trade Agreement, in a bid to force auto factories in Mexico to move back to the U.S.
A group of senators from Mexico’s ruling Institutional Revolutionary Party and its allies on Thursday laid out six “red lines” for the renegotiation of the North American Free Trade Agreement which they said if crossed would lead them to reject a modified deal.
Apple general counsel Bruce Sewell, who was thrust into a national debate over the balance of privacy and national security last year, is retiring.
The Department of Homeland Security doesn’t plan to extend a waiver of the Jones Act, which allowed non-U.S. ships to carry supplies from the mainland to hurricane-stricken Puerto Rico.
New Orleans officials are mobilizing police, firefighters, sewer workers and other staff to prepare for flooding ahead of Tropical Storm Nate, which forecasters expect will hit southeast Louisiana this weekend as a Category 1 hurricane.
President Donald Trump is expected to refuse to certify that Tehran is complying with the 2015 international nuclear agreement, a move that would place key decisions about the deal’s future before Congress.
New Jersey’s attorney general filed a lawsuit Thursday against drugmaker Insys Therapeutics Inc., claiming it fraudulently marketed a powerful painkiller for widespread use that was intended to treat serious cancer pain.
Russian software developer Kaspersky Lab said it had become a “pawn in a geopolitical conflict” between Russia and the U.S., following the disclosure its software was used to help Russian intelligence steal secrets from the U.S.
The founding family and private-equity firm Leonard Green & Partners are considering a new structure for the buyout that would include less debt.
Risk management, strategy and analysis written and compiled by Deloitte
The catastrophic hurricanes and earthquakes that have rocked North America in recent weeks have resulted in a tragic loss of life and widespread destruction of property. They have also had a significant impact on business activities, giving rise to a number of financial reporting implications. Accounting for asset impairments, insurance recoveries, and additional exposure to environmental remediation liabilities are just some of the many issues businesses now confront as a result of these natural disasters. Learn more about these challenges and how to assess them.
Given the current marketplace trends of international expansion, U.S. parent companies face many potential challenges with respect to revenue recognition, including timing, recording fictitious revenues and incomplete disclosures around revenue recognition. This is particularly relevant during and after a merger or acquisition when additional scrutiny is placed on a company during the time of transition. However, there are steps organizations can take to proactively manage risk, including centralizing internal control environments, maintaining effective employee training and taking remedial measures.
Powerful technologies—from quantum computing to additive manufacturing, synthetic biology to blockchain and bitcoin—are generating disruption across industries, changing fundamental aspects of how businesses operate. Board members have a special role to play in guiding transformation, challenging the basic assumptions of an organization and helping to foster a positive culture of exploration and experimentation to help keep the business evolving as its environment changes. Learn questions that can help in assessing management’s understanding of the environment and what can be done to help the company thrive amid rapid change.
In the wake of the 2005 hurricane season, when seven major hurricanes, including Katrina, made landfall, the banking sector was severely impacted. But banks also learned many useful lessons about how to respond to such disasters. Learn how technology, procedural changes and the actions of the Federal Reserve are altering the response this time around, and what challenges still remain as banks weather the latest round of storms.
The recent intensity of the hurricane season has put a new emphasis on how organizations deliver on their crisis response planning and execution. An effective response requires timely information gathering and planning related to employees and critical assets, plus skills in interacting with other important stakeholders, including business partners, customers and shareholders during the recovery period, as Chris Ruggeri and Kathie Schwerdtfeger, both with Deloitte Risk and Financial Advisory's Strategic Risk practice, discuss. They also explain the role of the board during a natural disaster crisis response and reputational risk issues to consider.
Don’t pay much attention to front-page headlines: Back in the newspaper’s business section, fundamentals remain solid, and those are what drive corporate investment—and U.S economic growth. That said, a few storm clouds loom, as always, and the recent hurricanes’ impact on the U.S. economy is as yet unclear. In Deloitte’s third-quarter U.S. economic forecast, economists discuss likely short-term scenarios, and point out that the connection between the political system and the economy is less strong than many believe.
Click to see corruption measures by country
