Your regular update of enterprise risk management news and resources...

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OpenAI highlights the need for governance to avoid future superintelligence risks
OpenAI, creator of ChatGPT, has issued a statement, saying that ‘now is a good time to start thinking about the governance of superintelligence’. Superintelligence is a term for future AI systems that will be ‘dramatically more capable than even AGI’ (artificial general intelligence).
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• World

Threat of cyber attacks on physical security systems highlighted by NPSA
The UK National Protective Security Authority (NPSA) has published guidance on the threat of cyber attacks aimed specifically at security systems with the goal of corrupting data, opening a portal, or disabling alarms.
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• UK

Civil unrest in Africa is at a six-year high: Verisk Maplecroft
Businesses operating in Africa ‘are grappling with an unprecedented rise in disruption linked to protests, demonstrations and rioting’, according to research by Verisk Maplecroft. The situation is also expected to deteriorate through 2023.
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• Africa

Business risks move to the top of organizational concerns
A new Chartered Institute of Internal Auditors poll reveals the key risks that businesses are concerned about and finds that cyber security worries have been overtaken by financial, liquidity, and insolvency business risks.
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• UK / Europe

NERC says that seven areas of the US are at elevated risk of power outages this summer
NERC, the North American Electric Reliability Corporation, has issued its 2023 Summer Reliability Assessment, which warns that two-thirds of North America is at risk of energy shortfalls this summer during periods of extreme demand.
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• US

Nearly two-thirds of compliance professionals view third parties as their most heightened risk
Senior compliance professionals are more concerned with increasing challenges relating to third parties than any other top-of-mind risk area, according to survey findings from Compliance Week and the Technology segment within FTI Consulting, Inc.
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• World

Underneath the hype: the risks associated with generative AI and how to manage them
In a question and answer article, Avivah Litan, VP Analyst at Gartner, discusses what organizations need to know about generative artificial intelligence trust, risk, and security management.
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• World

Risk management: leadership culture is key
During her final speech as APRA Deputy Chair, Helen Rowell has told delegates at the Governance and Risk Management Forum 2023 that the attitude of boards and senior management is critical to successful risk management.
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• Australia / World

Study shows that manual processes dominate and slow down third-party risk management approaches
Prevalent, Inc., has published a new report, ‘The 2023 Third Party Risk Management Study: How Are Organizations Avoiding TPRM Turbulence?’. This provides insights into current trends, challenges and initiatives impacting third-party risk management practitioners worldwide.
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• World

Risk culture: building resilience and seizing opportunities
A new research report published jointly by ACCA, Airmic, and PRMIA investigates risk cultures and their effects at organizations across sectors and regions. ‘Risk culture: building resilience and seizing opportunities’ is a three-part report based on a global survey of the perspectives of over 2,000 risk and finance professionals.
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• World

ISO 22342:2023 provides guidance on security plans and integrating them with risk management
ISO has released ISO 22342:2023, ‘Security and resilience - Protective security - Guidelines for the development of a security plan for an organization.’
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• World

New OnSolve report shows large increase in severe physical threats to organizations
OnSolve has published its 2023 OnSolve Global Risk Impact Report, which found significant increases in three rising threats globally in 2022 when compared to 2021.
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• US / World

Many organizations are falling short when it comes to travel risk management
Everbridge has revealed findings which show that only 24 percent of surveyed organizations have a strong travel risk management (TRM) programme in place. The results come from the company’s year-long study of more than 200 global C-suite executives.
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• World

Sustainability is now the top priority for major organizations finds survey
The latest edition of the Futurum environmental sustainability index, produced quarterly by The Futurum Group in collaboration with Honeywell, has revealed that sustainability has now become the leading priority for major organizations.
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• World

New guidance on managing third-party risk for Canada’s financial institutions
Canada’s Office of the Superintendent of Financial Institutions (OSFI) has published its final ‘Third-Party Risk Management Guideline’ (Guideline B-10) which sets out third party risk management expectations for Federally Regulated Financial Institutions (FRFIs).
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• Canada

Ransomware threat decreasing but concerns increase over quantum computing-based risks: 2023 Thales Data Threat Report
The 2023 Thales Data Threat Report has been released, providing an annual report on the latest data security threats, trends and emerging topics based on a survey of nearly 3000 IT and security professionals in 18 countries.
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• World

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