In this podcast episode, we address the necessity of cybersecurity risk management, which is no longer just about protecting your operations.

Managing third-party vendor cyber risk is fast becoming the defining cybersecurity challenge of our time. The increase in the number of suppliers we engage with as the digitalisation of the energy sector progresses means that enterprise networks are becoming increasingly vulnerable to the vulnerabilities of those partners.

Put simply, the extended ecosystem is the threat.

Your host Claire Volkwyn speaks with Jim Penrose, former NSA senior leader and COO of New York City-based cybersecurity firm BlueVoyant. They discuss supply chain risk and its greater implications, the interdependence between organisations and how risk and cybersecurity risk management are interconnected.

Guest:

Jim Penrose | Chief Operations Officer | BlueVoyant

Host:

Claire Volkwyn | Editor| Smart Energy International

Music by NSAT

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The number of fines for anti-money laundering (AML) failures during the first half of 2020 has already outstripped those for the entirety of 2019. It’s evident, then, that we’re sitting on the cusp of another potential surge in financial crime, as the COVID-19 pandemic increases pressure on people, processes and systems across the world.

How then, can banks and major financial institutions mitigate the risk of financial crime and the increasing sophistication of money launderers, especially when criminals thrive in such chaotic and uncertain times?

History Predicts the Future

When we look back, the common denominator tying together the 21^st century financial crime timeline is exploitation of a crisis. Possibly one of the most significant occurrences this side of the millennium took place on September 11, 2001 in New York City. The 9/11 tragedy prompted some of the biggest overhauls in anti-money laundering law and financial crime legislation in history, as the U.S. government sought to cut off terrorism funding at the source in the war against terror.[1]

The 2008 financial crisis provided another catalyst for…

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NEW YORK, July 06, 2020 (GLOBE NEWSWIRE) — MarketAxess Holdings Inc. (Nasdaq: MKTX), the operator of a leading electronic trading platform for fixed-income securities, and the provider of market data and post-trade services for the global fixed-income markets, today announced monthly trading volume for June 2020 of $578.5 billion consisting of $266.5 billion in credit volume and $312.0 billion in rates volume.

Records for trading volume and fully electronic estimated market share were achieved in June 2020 for the following categories:

• U.S. high-grade total monthly trading volume of $143.6 billion
• U.S. high-yield average daily trading volume of $1.8 billion and total monthly trading volume of $39.8 billion
• U.S high-yield trading volume of $4.1 billion on June 30, 2020
• Fully electronic estimated U.S. high-grade market share of FINRA TRACE trading volume of 22.8%, compared to an estimated 19.2% in June 2019
• Fully electronic estimated U.S. high-yield market share of FINRA TRACE trading volume of 16.1%, compared to an estimated 11.4% in June 2019

The Company also reported preliminary variable transaction fees per million (“FPM”) for the quarter ended June 30, 2020 of $181 for…

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