The TM Bulletin May 2024
Thomas Murray
Global Risk Intelligence | Safeguarding clients and their communities since 1994
Like us, you may be wondering how it can possibly be June already. The year is racing by, and we barely have enough time or space to tell you all about what we’ve been up to. ?
To find out more, or to give us feedback and suggestions for future editions, please get in touch: [email protected]
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May 2024 Highlights
Cyber Advisory
Webinar: Cyber risk management for private equity firms
Join us on Wednesday, 11 June for our live webinar exploring how private equity firms can both protect themselves from cyber risk and realise the investment value of robust cybersecurity measures. Hosts Ben Hawkins and?Ed Starkie will explore:??
·??? The threat landscape for private equity and the rise of systemic risk???
·??? The impact of concentration risk on portfolios???
·??? What private equity can do about these risks, both pre- and post-deal??
·??? The expectations of regulators and the direction of travel???
·??? What private equity houses can do to address and mitigate cyber risk??
Wednesday, 11 June 2024 | 2:00 PM – 3:00 PM (BST)?
Cash correspondent monitoring
The role of correspondent banking in combatting financial crime
Correspondent banking – whether cash or digital – plays a significant and essential role in the global financial system, but it also poses a significant risk due to the potential for respondent banks to use the correspondent bank’s services to launder money or finance illegal activities. By its very nature, it creates a complex web of cross-border transactions that can obscure the true origin and destination of funds, making it easier for shady or outright criminal organisations and individuals to launder money.
Caroline McCreadie?takes an in-depth look at the role monitoring plays in fighting money laundering and the funding of terrorism.?
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Third-party risk management
The ‘three lines of defence’ model and TPRM
The ‘three lines of defence model’ is widely recognised in the world of audit as an effective framework for risk management and internal control. It delineates the roles and responsibilities of different groups within an organisation to ensure a robust system of checks and balances.
The model is typically used to manage various types of risks, including operational, financial, and compliance risks. Phoebe Jordan provides a brief overview of the three lines of defence that the model refers to, and how the model applies to third-party risk management (TPRM).
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Cyber risk ??
Why cryptocurrencies are fuelling ransomware
Crypto-crime?may have declined overall in the first six months of 2023, but the volume of payments to ransomware attackers made in cryptocurrencies has surged.?According to data from blockchain analytics firm?Chainalysis, the volume of cryptocurrency ransomware payments was on track for its second-biggest annual total on record.
Kevin Groves?highlights?six?threads in the complex?knot binding?ransomware and cryptocurrency?together.
Regulations
UCITS compliance for an innovative investment fund
Regulatory compliance is a fundamental issue for?almost all?of our clients. In this case study,?Derek Duggan?takes us through how one of our clients was able to achieve its goal of supporting the?Sustainable Markets Initiative (SMI),?and?meet the requirements of the Collective Investment Schemes Regime (CISR), by tailoring the data available through Orbit Diligence.
News and updates
In case you missed it
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