Category

Cyber risk

Cyber riskRisk ManagementTechnology
February 4, 2021

Questions About Answers: Moody’s Cybersurvey Raises a Few Concerns

NeuGroup members want to know how the credit rating agency will use survey responses about cyber risk.High-profile corporate cyberattacks have many companies reevaluating how they mitigate cyber risk. And over the past few months, some NeuGroup members have received a lengthy survey from Moody’s asking questions about their companies’ approaches to cybersecurity. The survey, which Moody’s says has about 60 questions, has raised questions—and a few concerns—about what Moody’s will do with the answers.Below is some of what members said…
Justin Jones
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Cyber riskTalking Shop
January 28, 2021

Talking Shop: Which Area of Your Company Owns Fraud Risk and Training?

Member question 1: “Which area of your company ‘owns’ fraud risk? “I am interested in benchmarking ownership of fraud risk management, from policy setting to training and compliance monitoring. The scope of the fraud risk management is broad and includes data security, wire transfers, general theft, IP protection, etc.“Do you have one owner or is it co-owned by multiple departments (treasury, legal, auditing, etc.)?” Peer answer: “For us, it is owned by different groups based on the source of the fraud.…
Justin Jones
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COVID-19Cyber riskTechnology
January 12, 2021

Locking Up: Preventing Cyberfraud Attacks by Identifying Weaknesses

NeuGroup members share successes and failures keeping their companies secure amid the shift to an all-digital workforce.The all-digital work from home environment has left treasury teams more connected to their devices than ever, but also left them—and their companies—more vulnerable to fraud. But by identifying weaknesses early, teams can resolve issues before fraudsters even have a chance to strike. Members at a recent meeting of NeuGroup’s Treasurers’ Group of Thirty discussed their approaches to prevent the threat, one that continues…
Justin Jones
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Cyber riskTechnology
October 15, 2020

Taking A Second Look: Corporates Reconsider Cryptocurrencies

Members share their curiosity about embracing cryptocurrency amid more regulation.Efforts by central banks and finance ministers to block the widespread use of digital currencies until strong regulation is in place—along with the emergence of new types of currencies—are leading some corporates to reconsider earlier decisions to avoid accepting cryptocurrencies as payment. That is among the takeaways from a discussion at a recent meeting of NeuGroup for Retail Treasury, sponsored by U.S. Bank, during which one member said her company, encouraged…
Justin Jones
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COVID-19Cyber riskTechnology
August 11, 2020

Cost-Cutting Corporates Need to Factor in ROI of Cybersecurity

Quantifying the value of cyber defenses as some companies look to cut costs amid COVID. Cybersecurity is a major concern for NeuGroup member companies, and the pandemic has forced them to pay more attention to the risks of having so many people in finance roles working from home as the push for accelerated automation and digitalization grows. At the same time, COVID-19 has also pushed companies to tighten their belts. But cutting spending on cyber defenses looks like a potentially costly…
Antony Michels
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Capital MarketsCyber riskInsurance
June 9, 2020

Life Sciences Treasurers Speak to Capital Market Strategies, Insurance and Payment Fraud Mitigation

By Joseph Neu The NeuGroup Life Sciences Treasurers’ Peer Group completed its H1 meeting series last week, sponsored by Societe Generale. Here are a few takeaways I wanted to share: Three types of companies with three capital markets crisis strategies. Life sciences businesses, like those in most sectors, fall into three general capital market strategy buckets: Those needing rescue capital in order to survive through this crisis.Those looking to fortify their balance sheets.Those looking to be opportunistic to monetize high…
Joseph Neu
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Cyber riskRisk ManagementTreasury Management
May 7, 2020

Cyberattacks: Post-Pandemic May Be Worse Than the Lockdown

Best practices pre-pandemic have become even more important as the economy reopens. A top treasury concern for years, cyberattacks ramped up following the sudden transition to the work-from-home regimen prompted by the pandemic. They’ll likely ramp up even further when the economy begins opening up.  That was among the takeaways from a session on cybersecurity at a recent virtual NeuGroup meeting headed by Jenny Menna, deputy chief information security officer at U.S. Bank, and Chris Moschovitis, CEO of technology consultancy tmg-emedia.…
Ted Howard
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