HMRC has lost £47m following a phishing attack targeting thousands of PAYE tax accounts. The incident came to light during a House of Commons Treasury select committee hearing this week on HMRC’s performance. Senior civil servants said around 100,000 individuals are now being contacted about the breach.

In the late 2000s, when marketing departments were beginning to get to grips with social media, I remember hearing lots of pitches for consultancy business that were heavy on ‘fear of missing out’, warning firms that if they didn’t get social media-savvy fast, they would be left behind.

The UK government has introduced a new corporate criminal offence under the Economic Crime and Corporate Transparency Act, set to take effect this year. This legislation holds large organisations accountable if they fail to prevent fraud committed by employees, agents or subsidiaries acting on their behalf. The offence applies to businesses that meet specific size criteria based on number of employees, turnover and assets. If fraud occurs within an organisation and benefits the company, it can be prosecuted unless it can demonstrate reasonable fraud prevention measures were in place.

Governance professionals are concerned about the accuracy of AI-generated content in corporate reporting, according to new research from the Chartered Governance Institute UK and Ireland.

China’s booming electric vehicle market has spurred significant developments in the country’s regulatory landscape. For businesses and legal practitioners, understanding China’s automotive product recall system is key to navigating potential risks, and ensuring compliance.

FM has announced a strategic research partnership with the Luxembourg Institute of Science and Technology designed to help businesses better anticipate climate and cyber risks. Leveraging LIST’s research in cyber security, digital twins, Earth observation and artificial intelligence, the collaboration seeks to better understand the chain reactions behind business interruptions.