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The hidden costs of shadow IT: How unsanctioned tech impacts your budget

Online Computers

In 2013, thieves stole two laptops from Horizon Blue Cross Blue Shield of New Jersey (Horizon BCBSNJ), the state’s largest healthcare provider. Using unauthorized laptops illustrates the hazards of shadow IT within a company. Compliance issues Industries such as healthcare or finance have strict regulations regarding data handling.

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Racial Disparities and COVID-19

National Center for Disaster Prepardness

Communities of color and undocumented workers are comprised of a significant number of service workers including grocery clerks , home healthcare workers , restaurant workers, and subway operators. Compounding this, African Americans and Latinos on average have lower insurance coverage rates. CUNY SPH COVID-19 Tracking Survey.

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5 Steps to Implement Enterprise Risk Management (ERM)

Reciprocity

Passing or sharing the risk via insurance, joint venture, or another arrangement. But if that same organization decides to increase profitability by entering the healthcare industry, it must also review its HIPAA regulatory compliance. Identified risks are analyzed to assess both their likelihood and hazard potential.

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5 Steps to Implement Enterprise Risk Management (ERM)

Reciprocity

The reactions to risk include: Acceptance or toleration of a risk; Prevention or termination of a risk; Passing or sharing the risk via insurance, joint venture, or another arrangement; Mitigating or reducing the risk by internal control procedures or other risk-prevention measures. As your organization grows, its risks will change.

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Risk Assessment vs Risk Analysis

Reciprocity

Various types of hazards must be considered. After identifying hazards and risks, consider how they are harmful and the possible outcomes. This means that risks presenting a higher threat must receive more comprehensive control measures than lower-risk hazards. Economic risk. Operational risk. Third-party risk. Quality risk.

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5 Steps To Developing A Corporate Compliance Program

Reciprocity

Or if you’re a healthcare provider offering tele-medicine and accepting credit card payments, you need to implement controls protecting both electronic personal health information (ePHI) and cardholder information. You must assess the efficacy of your company’s compliance program and identify potential hazards.

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Strategies for Digital Risk Protection

Reciprocity

Any hazards associated with cloud architectural changes, the use of new platforms such as IoT devices, or new IT systems can lead to digital risk. This refers to all risks introduced by service providers and third parties working with your enterprise. This could include data breaches, intellectual property theft, and financial data theft.