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At Tandem, we recognize there are a few GRC (governance, risk, and compliance) solutions on the market. So, why should you pick Tandem? Based on feedback from individuals who have chosen Tandem, here are 10 reasons, in no particular order, why over 1400 organizations have chosen Tandem over other solutions.
In recent months, there has been a noted increase in the number of questions and conversations about the Bank Service Company Act (or "BSCA"). In this article, responses will be offered for several frequently asked questions, such as:
In February 2021, the Internal Revenue Service (IRS) published an alert regarding a new tax phishing scam. According to the alert, the malicious actor is impersonating the IRS and attempting to steal personally identifiable information, such as Electronic Filing Identification Numbers (EFINs) and drivers' license numbers. According to IRS Commissioner, Chuck Rettig, attempts like these are coming from bad actors who are "very active and very creative."
According to the Tandem State of Cybersecurity 2020 Survey Report, the top three incidents experienced in 2019 by financial institutions were social engineering (phishing), third-party compromise, and accidental security incidents by employees.
Incident response planning can be risky business. It requires you to consider what could happen in the future, so you can best plan for it now. Shorting the predictions can result in severe strategic, reputation, operational, or financial failures, but overestimating the risk exposure can be inefficient and costly, taking resources away from other important business and security matters.
Organizations partner with third parties when the benefit to the organization is perceived to be greater than the risk of outsourcing. With access to third-party expertise, organizations increase their opportunities to offer more services, help more clients, become more efficient, and generate more revenue.
When a potential incident occurs, it can be difficult to know who should be notified. Should the incident be reported to someone in IT, the Information Security Officer (ISO), direct supervisors, or someone else entirely?
We recently received a question from one of our Tandem Business Continuity Planning software users.
In its simplest form, business continuity planning (sometimes referred to as business continuity management) is how you prepare for resilience of systems, business processes, and overall operations during adverse circumstances. Business continuity planning is a multi-faceted process, most often including these elements:
If your organization operates in an area which could be affected by hurricanes, your Business Continuity Plan (BCP) should include steps to help your organization prepare for the time before, during, and after a hurricane.