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Climate change white paper sets tone for the future
The UK government’s climate change white paper sets out how the country will seek to mitigate the risk of increasingly adverse weather and build a net-zero economy. The document – Energy white paper: powering our net zero future – reflects initiatives outlined in prime minister Boris Johnson’s 10-point plan for transforming the UK’s energy resources…
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European banks face mixed future
While the COVID-19 pandemic has given the world economy and unprecedented shock, Europe’s banks have weathered the initial impact relatively well, according to a report by the sector watchdog the European Banking Authority (EBA). “Compared with the previous crisis, bank lending to the real economy has increased,” the report – Risk assessment of the European…
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Supply chain disruption
Supply chain disruption has hit 98 per cent of businesses in the US that took part in a recent survey on the issue by Interos. The biggest impacts included fluctuations in supplier prices and many experienced orders being paused or slow to fulfill because of the additional safety precautions brought in because of COVID-19 (both…
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New guidance on European data transfers
Companies transferring data outside of the European Union received new guidance on safely doing so from the European Data Protection Board this month. This follows a move by the Court of Justice of the European Union to scrap the so-called EU-US Privacy Shield in the summer, which it deemed unsafe. While the Court also ruled…
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Cyber ransom seen as top IT threat
Cyber ransom is now seen as the top threat to IT systems, according to a recent survey by Advisen among cyber insurance buyers. “Holding your network hostage for extortion” was voted the top risk. That was followed by business interruption caused by cyberattacks. Distributed denial of service (DDoS) attacks moved up the risk rankings significantly.…
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Widespread disagreement over cryptocurrency risk
There is widespread disagreement over cryptocurrency risk. Those working in the cryptocurrency industry are much more upbeat about the opportunities such innovations as Bitcoin represent than governments and financial institutions, says a recent survey. While criminals use cryptocurrency, those transactions only accounts for around 1% of the global total. Yet the perception of risk remains high…
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Build effective supply chain risk management
By Laxman Maharjan (SIRM) As organisations rely on a long and complex supply chain to meet consumer demand and maximise shareholders wealth, they are ever more vulnerable to supply chain disruption, risk of poor quality, and reputational loss. In the wake of Covid19, many companies were without the raw materials and products when factories in…
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Coronavirus reshapes risk rankings across Europe
The impact of the coronavirus has reshaped risk ranking across Europe, according to the most recent survey of heads of internal audit in the region. The three most notable risk that have risen up the list of concerns for businesses – according to Risk in Focus 2021, published by the European Confederation of Institutes of…
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One in 10 UK charities face bankruptcy
Up to one in 10 UK charities face bankruptcy by the end of 2020 because of a £10bn shortfall in cash caused by the coronavirus, according to a study by an independent charity Pro Bono Economics. The coronavirus crisis will trigger a £6.4bn loss of income for charities over the next six months just as…
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Data centres facing longer-term cooling challenges
The growth of data centres to process exponential volumes of traffic mean that those facilities are facing longer-term cooling challenges, according to a recent report by Aggreko the energy business. Its report – Mission Critical – says that while data centres handle an estimated 50 zetabytes of data today, by 2025 that could reach 175…
