Your weekly update of business continuity, enterprise risk management and resilience news.

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FEATURE ARTICLES

Operational resilience is pivotal in weathering supply chain disruption
Operational resilience is not just for the financial sector says Jennifer Bisceglie – there are positive reasons for moving to operational resilience in all sectors, and helping to manage supply chain disruption is one key reason why organizations should consider making the change.
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• UK

Five tough questions you need to answer about ransomware
Ransomware is a top agenda item for executives and board of directors with organizations across the globe. Jim McGann presents five questions that every organization, whether a global enterprise or a micro-business, needs to have answers to with regards to this threat.
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• World

Key considerations when building a disaster recovery plan for private cloud
One of the most persistent and baseless misconceptions about private cloud is that companies don’t need a disaster recovery plan for their business applications. Girish Dadge explains why this is a misconception and looks at what needs to be in place for effective DR.
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• World

LATEST NEWS

Unnecessary compliance burdens for employees are creating risks and failures
Compliance teams that don’t embed their controls into employee processes face a significantly higher rate of compliance failures, according to a survey by Garner, Inc. The survey of 755 employees in April 2021 found these failures linked to unnecessary compliance burdens for employees.
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• World

IOSCO issues guidance to help regulate the risks associated with AI and ML usage
The Board of the International Organization of Securities Commissions (IOSCO) has published guidance to help its members regulate and supervise the use of artificial intelligence (AI) and machine learning (ML) by market intermediaries and asset managers, following a consultation report published in June.
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• World

2021 Global DNS Threat Report reveals the extent and impacts of DNS attacks
During the COVID-19 pandemic, the financial sector has suffered the highest costs per DNS attack, compared to other industries. This was revealed in the 2021 Global DNS Threat Report, a study recently published by EfficientIP and the International Data Corporation (IDC).
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• World

Weather-related disasters have increased by a factor of five over the past 50 years
A disaster related to a weather, climate or water hazard occurred every day on average over the past 50 years – killing 115 people and causing US$ 202 million in losses daily, according to a comprehensive new report from the World Meteorological Organization (WMO).
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• World

Less than half of UK organizations have adapted cyber security processes to match changes in remote working
The majority of surveyed UK organizations are relying on employee education rather than wider strategy changes to meet the challenges of today’s remote work scenarios.
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• UK

New guide published to help organizations get started with operational resilience
Castellan Solutions has published 'Getting Started with Operational Resilience' – a new guide to help organizations that are commencing operational resilience programs or are considering doing so.
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• World

BCI looking for volunteers to help update the business continuity Good Practice Guidelines
The BCI maintains one of the key global guides to business continuity management – the Good Practice Guidelines (GPG). It is now starting work on the latest GPG update, which will be published in 2023.
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• World

91 percent of industrial organizations are open to cyber attackers, researchers find
Positive Technologies has released new research that examines information security risks present in industrial companies, the second-most targeted sector by cybercriminals in 2020.
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• World

CIR Magazine has announced the winners of the Business Continuity Awards 2021
CIR Magazine's annual Business Continuity Awards took place on 1st September at a ceremony which took place at the London Marriott Hotel.
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• UK / World

US regulatory agencies encourage community banks to evaluate the operational resilience of fintech providers
The US Federal Reserve Board, FDIC, and OCC have issued jointly developed guidance to help community banks assess risks when considering relationships with financial technology (fintech) companies. Amongst six key areas of due diligence the guidance highlights operational resilience as an area for consideration.
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• US

Survey finds that the majority of US companies are using a hybrid working model; but business continuity changes needed
A survey of 200 North American business leaders conducted on behalf of Sungard AS has found that 89 percent believe that the ideal work situation is a hybrid combination of remote and office work and 83 percent of companies plan to adopt this working model in the long-term.
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• US

WHO opens new hub for pandemic and epidemic intelligence
To better prepare for and protect the world from novel disease threats, the World Health Organization (WHO) has opened a new WHO Hub for Pandemic and Epidemic Intelligence, based in Berlin.
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• World / Europe

Top risk management related compliance priorities explored in new survey
MetricStream has published key findings from its 2021 State of Compliance Survey Report. Compiled from organizations across various sectors, the survey was conducted to understand the state of compliance programs and the impact of the pandemic on compliance management.
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• World

APRA has published a new Corporate Plan which sets out how it plans to enhance the resilience of the Australian financial system
The Australian Prudential Regulation Authority (APRA) has published an updated Corporate Plan outlining how it intends to manage the resilience of the Australian financial system over the next four years.
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• Australia

The winners of the BCI Africa Awards 2021 announced
The BCI has announced the winners of the annual BCI Africa Awards. The awards recognize the outstanding contributions of business continuity, risk and resilience professionals and organizations in the region.
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• Africa

ISACA introduces new guidance for IT business continuity and disaster recovery auditing
Global IT association ISACA is helping auditors expand their expertise by introducing a new audit program to provide guidance on assessing IT business continuity and disaster recovery capabilities.
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• US / World

Company and markets news

Witt O’Brien’s makes several new additions to its leadership team
Witt O’Brien’s, LLC, a subsidiary of SEACOR Holdings Inc., has announced several new members of its leadership team, as the company addresses rapidly growing demand for its COVID-19 and disaster management solutions.
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• US / World

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