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Fraud risk in government increased because of COVID-19
Fraud risk in government has risen rapidly due to the pandemic, said a report by the National Audit Office (NAO). The spending watchdog said it was impossible to calculate the amount of fraud accurately. But it estimated that even before the pandemic the government lost between about £29 billion and £52 billion annually. Fraud risk…
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Climate change action – sign up for IRM course
Countries must plan and implement radical changes to their production and trade processes, according to the World Economic Forum (WEF). That’s because as as extreme weather events become more frequent, traditional ways of working could fail. Taking action could see farmers adopting either novel crops, or alter methods for producing traditional food. Fishermen could move…
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Solvency II consultation opportunity to improve risk management, says IRM
A wide-ranging review of how financial services firms are regulated could be an opportunity to improve risk management, IRM has said in its response to consultation on the issue. “This review represents an opportunity to improve the maturity of risk management and how it is enhanced by the relationship between regulators and firms,” said a…
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Campaigners raise awareness of AI risk
Civil liberties groups and digital rights campaigners are seeking to raise awareness of the risks of using of artificial intelligence in mass surveillance technologies ahead of a forthcoming European Union report on the issue. The group – a coalition of different activist organisations – says its Reclaim your face initiative seeks to ban the use…
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IRM risk predictions 2021
While crisis management and survival were top of corporate agendas during 2020, risk managers and now looking to increase resilience and innovation, according to IRM’s Risk predictions 2021. “Risk managers have never been so busy and pivotal to the survival of organisations of all types globally,” Iain Wright, CFIRM, IRM Chair said. “Our experts across…
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Sustainability agreements: CMA issues information for businesses
The CMA has today issued information to help businesses achieve environmental sustainability goals whilst staying on the right side of competition law. One of the ways in which businesses are striving to meet climate change targets or other environmental objectives is through ‘sustainability agreements’. These are arrangements between businesses to work together to do things…
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Business interruption tops worry list for 2021
Business interruption has topped the executive worry list for 2021, according to Allianz’s annual Risk barometer. But three key risks are almost level pegging in first place in the survey: business interruption (41 per cent), pandemic outbreak (40 percent), and cyber incidents (40%). “All three risks – and many of the others in this year’s…
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Pandemic is risk to climate change action, says World Economic Forum
Having warned of the risk of a global “lethal flu” back in 2006, this year’s Global risks report 2021 focuses on the further risks and consequences of today’s pandemic. In particular, the report’s authors – World Economic Forum – said that the event would lead to widening inequalities and social fragmentation. “In some cases, disparities…
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Data war to heat up
The data war is likely to heat up in 2021 as countries act to either slowdown or halt the flow of sensitive data across borders – moves that could disrupt business models that rely on free-flowing information, according to Eurasia Group’s Top risks 2021. The nexus for this clash in 2021 is likely to be…
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Post-Brexit landscape changes for employers
The post-Brexit landscape has changed how people can move and work in mainland Europe for both employers and employees. Freedom of movement between the UK and Europe ended on 31 December. The UK has a new immigration system where prospective employees earn points for their salary level, skills and qualifications, including proficiency in the English…
