This post first appeared on Risk Management Magazine. Read the original article. Fake news is nothing new—we have long been exposed to propaganda, tabloid news, and satirical reporting. But now, with the dependence on the internet, promotion of trending stories on social media, and new methods of monetizing content, we have found different ways to (more…)
W-2 Phishing Scam Targets Tax Season
This post first appeared on Risk Management Magazine. Read the original article. In February, the FBI issued an official warning to businesses about a new form of tax season scam in which fraudsters use social engineering attacks known as business email compromise (BEC) or CEO fraud to target W-2 forms. In the cases submitted to (more…)
Q&A: Bridging the Gaps at PayPal
This post first appeared on Risk Management Magazine. Read the original article. For Laura Langone, senior director of global risk management and insurance at PayPal, risk management is all about bridges. As PayPal has made a practice of bridging the banking, retail and technology sectors, Langone’s approach to insurance coverage focuses on manuscripting to bridge (more…)
Lloyd’s to Establish EU Base in Brussels
This post first appeared on Risk Management Monitor. Read the original article. One day after the UK set in motion its process for withdrawal from the European Union by triggering Article 50, Lloyd’s announced that it has chosen Brussels as the location for its European Union subsidiary. A market of syndicates in London, Lloyd’s said (more…)
Defense Acquisitions: Assessments of Selected Weapon Programs, Mar 30, 2017
This post first appeared on GAO Reports. Read the original article. What GAO Found Since GAO’s 2016 assessment, the number of programs in the Department of Defense’s (DOD) portfolio of major defense acquisitions decreased from 79 to 78, while DOD’s planned investment over the life of these programs increased by $9.4 billion to $1.46 trillion. (more…)
DOD Major Automated Information Systems: Improvements Can Be Made in Applying Leading Practices for Managing Risk and Testing, Mar 30, 2017
This post first appeared on GAO Reports. Read the original article. What GAO Found Most of the 18 selected Department of Defense (DOD) major automated information system (MAIS) programs that GAO reviewed had experienced changes in their planned cost and schedule estimates and half of the programs had met their technical performance targets. Specifically, 16 (more…)
Identity Theft Services: Services Offer Some Benefits but Are Limited in Preventing Fraud, Mar 30, 2017
This post first appeared on GAO Reports. Read the original article. What GAO Found Identity theft services offer some benefits but have limitations. Credit monitoring helps detect new-account fraud (that is, the opening of new unauthorized accounts) by alerting users, but it does not prevent such fraud or address existing-account fraud, such as misuse of (more…)
Private Deposit Insurance: Credit Unions Largely Complied with Disclosure Rules, but Rules Should Be Clarified, Mar 29, 2017
This post first appeared on GAO Reports. Read the original article. What GAO Found About 2 percent of credit unions (125) have private deposit insurance, which is provided by one company—American Share Insurance (ASI). Regulatory and other assessments have suggested that ASI’s reserves have been adequate and that the company has had a strong ability (more…)
Grants Management: Corporation for National and Community Service’s Grant Monitoring Process Could Be Improved, Mar 28, 2017
This post first appeared on GAO Reports. Read the original article. What GAO Found The Corporation for National and Community Service (CNCS) process for monitoring grants is not fully aligned with federal internal controls (see fig.). Risks may go unidentified because CNCS’s assessment process does not include all grants in the year they are first (more…)
Defense Acquisition Workforce: DOD Has Opportunities to Further Enhance Use and Management of Development Fund, Mar 28, 2017
This post first appeared on GAO Reports. Read the original article. What GAO Found The Department of Defense (DOD), enabled by congressional action, has improved the timeliness of the funding process for the Defense Acquisition Workforce Development Fund (DAWDF). For fiscal year 2015, DOD was authorized to transfer expired funds, which allowed it to fund (more…)