Small firms 'at risk' from non-compliant software
The majority of small businesses could be using software that is not compliant with international standards, new research from IT governance firm Centennial has revealed, reports Business Link for London.
IT managers from the logistics, healthcare, retail and finance sectors were asked if the software they use was compliant with international standards - 71% did not know or said that it was not.
Firms that do not audit and monitor the software they install are at risk of criminal charges and large financial penalties, as software is covered by copyright law.
LexisNexis and software firm create governance solution
US-based LexisNexis Risk & Information Analytics Group has joined forces with Actimize to create an integrated customer due diligence (CDD) solution, reports Business Wire.
The solution aims to help detect fraud and comply with due diligence regulations. "All financial institutions need a complete solution to quickly and effectively manage the due diligence process both at account origination and over the life of the account," said Thomas Brown, VP of financial services solutions for the LexisNexis division.
"Additionally, with this solution, our customers will be able to provide a clear audit trail for their due diligence activities for optimal compliance," said Brown.
US credit union chooses risk management software
Process-driven Enterprise Risk Management software LogicManager says that Corporate One Federal Credit Union has chosen their LogicERM product to automate their enterprise risk management processes, reports the Sarbanes-Oxley Compliance Journal.
Corporate One, a provider of correspondent and investment services to credit unions across the nation, and the fifth largest corporate credit union in the US, will use the LogicERM solution across their enterprise for governance, risk, compliance and performance management.
Says Joe Ghammashi, VP of risk management at Corporate One: "We needed to continue to deepen our discipline, accountability and efficiency in all of our core process areas. LogicERM establishes a rigorous process for risk profiling and mitigation."
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