Strategies for Protecting Against Vendor Payment Fraud

balance sheet

Cybercrime is an ever-increasing threat from which manufacturers are not immune. Although reliable statistics are not available, one particular type of scheme that seems to be on the rise is vendor payment fraud.  In cases of vendor payment fraud, the fraudster poses as an existing supplier and provides the manufacturer with seemingly legitimate instructions changing the account payment information.  The exact means by which vendor payment fraud schemes are perpetrated can take many forms.  However, the most sophisticated and hardest to detect schemes often involve “hacking” into the vendor’s systems and sending a seemingly legitimate email or other instruction directing the change.

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Why Detroit and Silicon Valley Should Combine Their Autonomous Vehicle Pursuits

Detroit

From Blade Runner to the Jetsons, autonomous vehicles have been a mainstay in movies set in the future.  With Detroit and Silicon Valley leading the charge, these depictions will soon be reality in the not too distant future.  While the Big Three in Detroit and the tech giants on the West Coast started out as rivals, that relationship has changed in recent years into more of a partnership as the geographic divide has started to blur.  In 2016, General Motors acquired Cruise Automation, a San Francisco-based developer of autonomous vehicle technology for over $1 billion.  In September 2018, the Renault-Nissan-Mitsubishi alliance announced that it would be incorporating Google’s Android operating system into future models.  This is the first such partnership between an automobile OEM and Silicon Valley on infotainment/OS systems and represents the shift from competitors to collaborators.

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Meet the New NAFTA, Same as the Old NAFTA?

manufacturing

After all the gloom and doom and worry, the United States, Canada and Mexico tweaked the North American Free Trade Agreement.  Most importantly (apparently), they changed the name.  Banished is NAFTA.  In its place is the United States-Mexico-Canada Agreement (USMCA).  USMCA might be a bit more cumbersome to say, but that might be the largest difference.  Canada was convinced to join in after issues associated with the dairy market were worked out.

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EU Votes to Slash Emissions, Setting up a Final Vote by Member States Next Week

emissions

As we previously discussed in May, the European Commission has been considering proposals to significantly reduce CO2 emissions from vehicles.  The draft law for vehicles proposed CO2 reduction targets of 15 percent by 2025 and 30 percent by 2030, with 2021 as a baseline.  Last month, the Commission’s environment committee voted to increase the reduction percentages to 45% in 2030.  The parliament’s vote on emissions targets was set for October 3, 2018. Continue reading this entry

Uber Enters Into $148M Nationwide Settlement for Concealing 2016 Data Breach

rideshare

On September 26, 2018, a record settlement was reached between Uber and the attorneys general of all 50 states and the District of Columbia over the company’s 2016 data breach. While this case presents an extreme example of corporate misconduct on behalf of its former management, this settlement is unique in the imposition of stringent privacy protection requirements that Uber must incorporate into its business practices. Continue reading this entry