Categories
The Ethics Experts

Episode 013–Shannon Walker


On this episode of The Ethics Experts, we speak with Shannon Walker about whistleblowing, culture, and why speaking up should be more than a talking point…it should be an action.

 Check out more episodes, and don’t forget to subscribe on your favorite podcast platform!

Categories
Daily Compliance News

May 18, 2020-the Woe is Softbank edition


In today’s edition of Daily Compliance News:
·       Double bad news for Softbank. (NYT)
·       How resilient is your business? (WSJ)
·       A true sports pioneer passes away. (ESPN)
·       Still delusional after all these months. (WaPo)

Categories
Innovation in Compliance

Defining and Building Effective Compliance Programs -The Biggest Issues in Compliance Today

In this five-part podcast series, sponsored by K2 Intelligence FIN, we consider defining and building effective compliance programs. I am joined in this series by Michelle Goodsir, a Managing Director at K2 Intelligence, and Gail Fuller, Financial Integrity Network (FIN) Vice President. Michelle has 25 years of financial crime compliance experience which includes fraud risk management, anti-bribery and corruption, corporate security and investigations, sanctions, and Anti-Money Laundering (AML) program experience working within the financial services industry and the US government. Gail focuses on developing, refining, and implementing FIN’s quantitative and qualitative risk rating tools. She leads engagements focused on helping FIN’s jurisdictional and private sector clients understand their exposure to financial crime risk and develop and implement strategies to mitigate their risks.

Over this series we will consider key challenges in compliance, why compliance needs a seat at the table, how to do compliance on a budget; training and culture and what is on the horizon. In Part 2, Michelle and I discuss why compliance needs to be an integral part of your business strategy going forward.

  • What has evolved recently in the landscape that has made the role of compliance more challenging? There has been a plethora of  guidance from different regulators to address emergency situations; managing costs; reviewing alerts in a timely manner.
  • You mention that Compliance is often seen as an overhead cost – why should entities think of it differently? There are a variety of costs around the following, enforcement action costs vs. cost of compliance; operationalizing compliance; building compliance in from the beginning vs. retrofitting a program to maintain compliance; outsourcing compliance.
  • How can organizations make sure compliance protocols are carried out every day? Through a variety of tactics including regular training, communication, action; culture of compliance; tone from the top; compliance at business meetings.

Resources
K2 Intelligence financial crimes risk & compliance page: https://www.k2intelligence.com/en/services/our-practices/financial-crimes-risk-and-compliance 
K2 Intelligence AML page: https://www.k2intelligence.com/en/services/our-practices/financial-crimes-risk-and-compliance/anti-money-laundering-compliance
K2 Intelligence Anti-corruption page: https://www.k2intelligence.com/en/services/our-practices/financial-crimes-risk-and-compliance/anti-corruption
K2 Intelligence DOLFIN: https://www.finintegrity.com/dolfin.html
 

Categories
FCPA Compliance Report

John Warren on 2020 ACFE Report to the Nations


In the Episode, I am joined by John Warren Vice President and General Counsel at the Association of Certified Fraud Examiners (ACFE). We discuss the 2020 ACFE Report to the Nations, which is the most comprehensive report on the global scourge of fraud. The year’s Report is particularly important with the government bailouts from the fallout of Covid-19. It is a fascinating look of how fraud occurs, where is occurs and the steps you can take to prevent it.
Some of the highlights include: 

  • What is the ACFE Report to the Nations? How often is it released? What are you trying to capture?
  • What are some of the big picture findings of the Report?
  • What is the annual cost of global fraud?
  • Why are hotlines so critical to fraud detection?
  • What is the fraud tree?
  • What are the 5 critical areas of occupational fraud reviewed?
  • What does the Report to the Nations tell us about corruption?
  • What detection/prevention areas are the most effective for corruption?
  • With COVID-19 and the federal government bailout, why is fraud prevention and detection so much more critical now?

You can download a copy of the ACFE 2020 Report to the Nations by clicking here.