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Each week, we break down international news into our four quadrants of risk and present ways to mitigate those risks. 

Technology and Information Risks

Hyatt Hotels Corporation announced last week that customers' credit card information might have been stolen in a breach. Information stolen included card numbers, expiration dates, and verification codes. Last week, Google announced that it will be introducing a new cyber-security product, the Advanced Protection Program, that would assist in data-protection for “high-risk users.” Researchers have announced the existence of a new exploit, KRACK, which targets Wi-Fi networks and access points. Researchers working at the IT security company, ESET have announced that they discovered a new ransomware attack dubbed DoubleLocker which affects Android devices.

Operational and Physical Risks

In the United States, the Center for Auto Safety urged Ford Motor Company to issue a recall for 1.3 million 2011-2017 Ford Explorer SUVs due to concerns regarding carbon monoxide poisoning. Per a report published last week by the UK’s Public Accounts Committee, online retailers like Amazon and eBay are benefiting from activities of overseas tax evaders engaging in value-added tax fraud. On Thursday, Sweden officially announced that it would reassess its engagement with Cambodia amid the latter’s proposal to dissolve the opposition the Cambodia National Rescue Party. The Superintendent of Ports and Transportation of Colombia has announced its decision to make effective the June 20, 2017, fine imposed on Easy Taxi Colombia S.A.S.

Market and Economic Risks

Per a report last week, minority shareholders in India are playing a more active role in corporate governance, even as the government has implemented legal changes to make the corporate system more transparent and accountable. In the United Kingdom, per reports last week, sales numbers in September 2017 fell by almost 1%, registering the lowest growth rate for the country in the past four years. On Thursday, the president of the Federation of Argentine Regional Refrigeration Industries, demanded that the government create an official registry of butcher shops and slaughterhouses by way of the Federal Administration of Public Revenues to end tax evasion in the meat sector.

Hazard and Event Risks

In the Philippines, President Rodrigo Duterte declared that the city of Marawi was "liberated" from militants, even as the army said it was fighting at least 30 militants holding about 20 hostages.

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