ORGANIZATIONAL STRATEGIES TO MANAGE THIRD-PARTY VENDOR RISK

Blog Author: Thomas J. Canova Co-Founder, CMO – Modevity Third-Party Vendor Risk Management (VRM) is an important part of the overall risk management landscape for enterprise organizations. Most corporations have thousands of suppliers: The fast-moving consumer goods company Proctor and Gamble states that it has over 75,000 suppliers. These suppliers are responsible for everything from … Read more

FINCEN LAUNCHES REGULATORY PROCESS FOR NEW BENEFICIAL OWNERSHIP REPORTING REQUIREMENT

WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) today issued an Advance Notice of Proposed Rulemaking (ANPRM) to solicit public comment on a wide range of questions related to the implementation of the beneficial ownership information reporting provisions of the Corporate Transparency Act (CTA). This ANPRM is the first in a series of regulatory actions that FinCEN will undertake … Read more

MODEVITY EXPANDS VENDOR RISK MANAGEMENT AS A SERVICE

West Chester, PA – Monday, March 22, 2021 Modevity, LLC, a leading Commercial Intelligence company established in 2004 specializing in Investigative Due Diligence Research Services, announced today that the company has expanded its Vendor Risk Assessment System to offer complete “Vendor Risk Management as a Service.” The Modevity Vendor Risk Management Platform provided as an outsourced service will provide clients … Read more

PRESIDENT BIDEN ORDERS COMPREHENSIVE SUPPLY CHAIN REVIEW

President Biden will sign an executive order that will require the government to produce unclassified assessments of key industries and their supply chains, including semiconductor manufacturing, electric car batteries, medical supplies, and rare earth elements such as the ones used in iPhones and military systems. The executive order, mentioned by White House press secretary Jen … Read more

CURRENT STATE OF ANTI-MONEY LAUNDERING INTERNATIONAL INITIATIVES

It is surprising to consider that roughly 2% of global GDP is laundered annually, amounting to between $800B – $2T. Banks spend around $8B annually combating Money Laundering activities but affect only 0.1% of criminal finance. KYC 360 wrote about this AML problem recently and this blog highlights their findings and commentary. In their findings … Read more

STUDY HIGHLIGHTS HOW SUPPLY CHAINS EMERGE FROM GLOBAL CRISIS

Research also showed that the global pandemic crisis has dramatically changed attitudes to risk. Interesting to see recent research from Orange Business Services uncovered that the supply chains in 40% of multinational corporations were unable to cope with the crisis created by the pandemic. Also, tech providers of Big Data Analytics, Artificial Intelligence (AI), Cloud, … Read more

MODEVITY SIGNS ON WITH THOMSON-REUTERS TO BROADEN VENDOR RISK MANAGEMENT SERVICES

With CLEAR’s third-party risk management software, the Modevity team can help our clients mitigate their corporate and reputational risk through billions of data points and a scalable consistent process and powerful reports. West Chester, PA USA – Tuesday, January 5, 2021 Modevity, LLC, a leading Commercial Intelligence company established in 2004 specializing in Investigative Due Diligence Research Services, announced … Read more