FinCEN Archives - MODEVITY

Understanding and Implementing Third-Party Vendor Risk Management

May 23, 2024May 23, 2024 by Thomas Canova

Effective Vendor Risk Management (VRM) is crucial for mitigating risks and protecting your business’s reputation. This involves identifying potential third-party vendors, conducting thorough assessments, and continuously monitoring their performance. What is Vendor Risk Management? Vendor risk management is an ongoing process of due diligence carried out before and after engaging with third-party suppliers. It aims … Read more

SEC Tightens Regulations Regarding SaaS Security

February 2, 2024 by Thomas Canova

The SEC is cracking down on SaaS security, holding public companies accountable for protecting data stored in SaaS systems and connected third-party apps. This shift reflects growing concerns about vulnerabilities in SaaS platforms and the potential impact on investors. Why is the SEC Focusing on SaaS? High Prevalence of Breaches: Despite companies feeling confident in … Read more

Company Board Members’ Struggle to Grasp Cybersecurity Risks: A Risky Proposition for Businesses

September 18, 2023 by Thomas Canova

In today’s interconnected and technology-driven business ecosystem, cybersecurity is a paramount concern. As organizations continue to digitize their operations and data, the risk of cyberattacks looms large. While many businesses invest heavily in cybersecurity measures, a significant challenge persists—board members frequently struggle to understand cybersecurity risks. This knowledge gap poses a serious threat to businesses, … Read more

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