This post first appeared on GAO Reports. Read the original article. What GAO Found At varying stages, agencies have begun planning for and implementing fraud risk activities (like conducting an evaluation of fraud risks) required by the Fraud Reduction and Data Analytics Act of 2015 (FRDAA), according to GAO’s survey of agencies subject to the (more…)

This post first appeared on Risk Management Magazine. Read the original article. As every risk ­manager knows, the world is as fraught with risk as ever. This becomes even more apparent as natural disasters, cyberattacks, corporate malfeasance and political and economic uncertainty make headlines and create new business concerns. The following review of some of (more…)

This post first appeared on Risk Management Magazine. Read the original article. In its Global Risks Report 2018 at the beginning of the year, the World Economic Forum ranked data fraud or theft as the fourth-highest risk in terms of likelihood, citing exponential increases in recorded data breaches and their financial toll. As predicted in (more…)

This post first appeared on Risk Management Magazine. Read the original article. One of the most challenging aspects of maintaining duty of care is convincing employees to actually follow the risk management policies you have established. You can put together a comprehensive safety program to protect their health and welfare, but if they simply ignore (more…)

This post first appeared on Risk Management Magazine. Read the original article. As a complex web of manufacturers, business partners, suppliers and other third parties, the modern-day supply chain is no stranger to attacks. With cybercriminals constantly looking to steal critical data, the system continues to be fraught with risk. Like death and taxes, cyberattacks (more…)

This post first appeared on Risk Management Magazine. Read the original article. Actuarial reports are often a financial reporting requirement for companies that self-insure or have large deductible programs. For captives, an actuarial report may be necessary depending on the location of the domicile. Beyond financial reporting, however, an actuarial report can provide a wealth (more…)

This post first appeared on GAO Reports. Read the original article. What GAO Found The Department of Energy’s National Nuclear Security Administration (NNSA) has taken steps to prepare to restart a life extension program (LEP) to replace the capabilities of the Air Force’s W78 nuclear warhead—a program which was previously suspended. According to NNSA officials, (more…)

This post first appeared on Risk Management Monitor. Read the original article. The 2018 Lloyd’s City Risk Index was analyzed during the RIMS Risk Forum India in Mumbai, and it notes a possible turning point for the subcontinent’s cities regarding resiliency. In short, Indian cities were rated as weak, but recent government and public investments (more…)

This post first appeared on Risk Management Magazine. Read the original article. Over the last decade or so, banks’ compliance priorities—and compliance budgets—frequently funded only priority risk activities. A new era is now in full bloom with an agenda for increased overall operational efficiency and increased expectations for the effectiveness of the risk function. Financial (more…)

This post first appeared on Risk Management Monitor. Read the original article. MUMBAI – The inaugural RIMS Risk Forum 2018 India launched on November 13, and leading risk professionals from India and Asia-Pacific countries met for two days to address the challenges facing companies in the region. In a country of 1.3 billion people, expectations (more…)