The majority of businesses do not have any procedures in place to measure the effectiveness of information security, according to a new survey.Some 65% of 373 attendees at the 2011 RSA Conference in San Francisco polled by SenSage said they had no or i…Read More
Bogus dentist commits financial fraud
A woman who earned almost £230,000 by using a fake degree certificate in dentistry to obtain work at a number of NHS hospitals has been jailed for three years.An investigation into Vinisha Sharma's qualifications was ordered amid claims that she …Read More
Insurer aligns policies with due diligence & risk control
Chartis has altered its policies for venture capital firms and private equity to take into account the "more robust" regulatory system.Changes to the insurer's policies include bigger costs, including those resulting from inquiries, risi…Read More
Due diligence & tiger economies
Here is a link to an interesting article on the growing recognition of the importance of due diligence in emerging markets. Aside from being a very useful summary of the financial aspects of in-depth due diligence such as looking into sustainability of markets, in-depth analysis of areas such as profit margin erosion and the competitive environment, the article also describes the people and reputational related risks which can be easily overlooked, such as :- Fraud, regulatory non-compliance and unethical practices Questionable reputation and credentials Conflict of interest What is perhaps striking is that countries which have historically been far les regulated than the UK are now perhaps showing the way on the importance of a rounded and comprehensive due diligence process whilst the UK still flounders with the implementation or non-implementation of the Bribery Act. Whilst unecessary regulation is a …Read More
Police in legal talks with Nominet
Law enforcement agencies are locked in discussions with the organisation responsible for the .uk internet domain name over possible changes to its terms and conditions. The most notable change could see Nominet prosecuted if it refused to take down web…Read More
Data loss -ICO probe into missing memory stick
Leicester City Council is facing a possible financial penalty after losing a USB stick that contains information on 4,000 elderly and vulnerable people.The Information Commissioner's Office (ICO), which has the power to fine organisations up to £…Read More
Expert evidence tests plan unveiled
Judges will be able to test expert evidence before a jury is sworn in under new plans drawn up by the Law Commission.The moves are needed to help reduce miscarriages of justice, the body that reviews and recommends reform of the law in England and Wale…Read More
Due diligence ‘attracts investors’
Deutsche Bank's ninth annual Alternative Investment Survey has claimed that the due diligence required to successfully assess the risks involved in seed investing is so onerous for institutional investors, there has been a subsequent increase in t…Read More
Possible changes to Bribery Act
Implementation of the Bribery Act 2010 will differ “quite substantially” from last year’s draft principles following revised guidance by the Ministry of Justice, a senior official has claimed. The new principles will be released “as soon as possible” and will represent an improvement on what was originally drafted, Roderick Macauley, Bribery Act implementation manager at the Ministry of Justice said. A date for the introduction of the legislation is unknown – it had been due to be introduced in April but was delayed following fears over the guidance firms have been given. Companies will have three months to put the principles in place before the act becomes law. Mr Macauley warned, however, that firms would not be able to adopt a “tick-box” approach to compliance. ” It’s about effectively implementing and seriously addressing the issues,” he said. He told delegates …Read More
Cyber attack closes French ministry
Hackers created such a security risk at France's finance ministry that its computer systems had to be shut down.Documents relating to the G20 summit in Paris were apparently the target.A few weeks ago the UK Government came under cyber attack from…Read More