With the growing number of high-profile attacks and accidental breaches, every organisation should have cyber on its radar, in its risk register and set as a priority. And indeed most do. Yet even providers of risk advisory themselves are now suffering catastrophic breaches: we learned last week that Deloitte has been successfully attacked, likely compromising confidential corporate client data. So, in what ways are executives failing to prevent breaches? And when a crisis does hit, why do companies often flounder, causing further financial and reputational damage?
With the opening last week of the National Cyber Security Centre (NCSC), part of GCHQ, the government signalled a future increase in emphasis on protection from cyber threat. The express aim is to make the UK the safest place in the world to live and work online. The new London office will be used as its operational nerve centre to reduce the cyber threat to critical services, identify and address vulnerabilities and provide expert incident management when attacks occur.Read more
Prior to last month’s vote to leave the EU, Marylebone had written much about the changing landscape of anti-bribery and corruption in the UK, the risks that businesses face, and how to mitigate against them. Now the question is how Brexit will impact these risks. More than a month on from the Leave campaign’s surprise win, there is still much uncertainty about Brexit: when will article 50 be triggered?; will the UK maintain access to the single market?; and what the legal and economic implications will be. One of the unknowns is what effect these resultant changes to Britain and its relationship with the EU will have on bribery and corruption, and how this will impact businesses.Read more
We awoke this morning to the news that Britain will be leaving the EU, followed shortly by David Cameron’s resignation. Brexit is perhaps the most significant political change in Europe's recent history, with far reaching implications for individuals and businesses, both in Britain and in the rest of the EU. Whether you are celebrating or commiserating today, you likely need a moment to accept that this is indeed happening. After processing that, it’s time to look at the potential implications and prepare to address the challenges and risks that this profound change will present.Read more
In 2014, David Green, Director of the Serious Fraud Office, proposed an extension of the ‘failure to prevent’ model to create a corporate offence of failing to prevent ‘economic crime’. This proposal garnered cross-party support and was further recommended by the government’s Anti-Corruption Plan. However, in 2015, the UK government announced that it was dropping plans to extend the corporate offences for failure to prevent economic crimes beyond the Bribery and Corruption offences. It seemed that after initial enthusiasm, interest had waned and all plans were put on hold. However, last month The Ministry of Justice announced that it will consult on plans to extend the scope of the criminal offence of corporate failure to prevent to other economic crimes. So, it seems that plans are back on the front burner, but why has there been an about-face? Will these proposals make it across the legislative finish line? And what impact could the creation of these wider offences have?Read more
Judging by the number of companies you hear saying that they are ‘ethical leaders’, and can be trusted to ‘do the right thing’, you would believe that there must be some kind of internal ethics switch, and they have it permanently flipped to the ‘on’ position. Buzzwords like ‘integrity’, and ‘accountability’ get bandied about, but what does it actually mean to be ethical in business? And how can you hope to accurately measure it?Read more