Many companies recognize the need to transform or expand resources for their internal audit and risk management functions in response to economic challenges and ever-expanding regulatory requirements.
If you are one of these companies, you understand the importance of enhancing business value by implementing a balanced approach to risk-management, regulatory compliance and operational effectiveness.
Our experienced internal audit, risk and compliance services professionals deliver a hands-on, practical approach to internal audit and risk management and compliance functions with a focus on you and your business in the following areas:
WannaCrypt is a serious ransomware attack that has caused major interruptions to individuals, businesses and governments around the world. However, what gives this ransomware teeth is that it took advantage of a vulnerability in Microsoft operating systems that has been public knowledge. Anyone who was using an operating system newer than Windows XP, could have simply patched their workstation and their only risk was to click on a link they shouldn't have. The problem is many people and organizations haven't patched their computers or are still running Windows XP.
UHY Advisors convened a roundtable discussion among financial services industry professionals on Thursday, June 16th to explore the implications and causes of recent cyber bank heists. The roundtable, “Lessons Learned from Cyber Bank Heists,” launched UHY’s Financial Services Roundtable series and included compliance, risk management, internal audit, and technology managers from some of the world’s largest banks and financial services firms.
Earlier in the year we reported an increase in email phishing and spoofing scams this tax season. Recently, the Milwaukee Bucks made headlines when an employee leaked player financial information.
As consumers and businesses have begun receiving new credit and debit cards with shiny embedded microchips (known as EMV technology), many are unaware of the liability shift that occurred in 2015. As of October 2015, merchants that are not certified to accept EMV card transactions may be responsible for certain fraudulent charges, a change from standards that previously existed where the liability rested solely with the card issuer. Estimates indicate 94 percent of magnetic-only credit cards will be replaced by the end of 2016. As a result, businesses that accept credit cards face a dramatically different landscape compared to just a few short months ago.
IT security is a growing threat for businesses of every type and no organization is safe. While information security risks have been around for a long time (several Civil War battles were decided by details obtained by the enemy), today they bring with them challenging complexities and costly ramifications for businesses.