Day: October 14, 2020

Wirecard Part 9, Running to Fraud with Hermes

Post author By admin
Post date October 14, 2020
No Comments on Wirecard Part 9, Running to Fraud with Hermes

In our continuing series, I am joined by Mikhail Reider-Gordon, Managing Director of Institutional Ethics & Integrity at Affiliated Monitors. Mikhail’s areas of expertise include technology, privacy, cybersecurity, IP and accountability in artificial intelligence; the global anti-corruption and anti-money laundering regimes; media & entertainment; biotech and the life sciences; the public sector and international law. She is accustomed to working on extremely sensitive and high-profile matters, both nationally and internationally. In this episode, we explore the money laundering Wirecard engaged in via the project dubbed ‘Hermes’.
Some of the highlights include:

Weekly news wrap-up on Wirecard.
What has this done to the German political scene?
Any talk about BaFin reforms?
How do losses reach €20bn?
How was the investigation “unrelated to the mandate”?
Money laundering through Hermes.

Tags Wirecard

Fraud Eats Strategy

Fraud Eats Strategy Episode 8: Critiquing Leadership and Living to Tell About It

Post author By FTI Consulting
Post date October 14, 2020
No Comments on Fraud Eats Strategy Episode 8: Critiquing Leadership and Living to Tell About It

In this episode, we talk about the uncomfortable and sometimes terrifying situation when a compliance officer must critique a member of leadership team and living to tell about it. In recent years, the expression “tone at the top” has been displaced by “conduct at the top” ushering in a new era of leadership accountability and transparency by the DOJ and other enforcement agencies in the U.S. and overseas. As a practical matter, compliance officers must on occasion investigate or critique members of the leadership team when conducting an internal investigation or assessing the ethics and compliance program. Joining me today is Matt Tanzer. For 13 years, Matt held various positions at Tyco including Chief Compliance & Ethics Officer. A position he also held after Tyco was merged into Johnson Controls.

Join us each week as we take a deep dive into the various forms of fraud across the world and discuss crime families, penny stock boiler rooms, international money launderers, narco-traffickers, oligarchs, dictators, war lords, kleptocrats and more.

Scott Moritz is a leading authority on white-collar crime, anti-corruption, and in the evaluation, design, remediation, implementation, and administration of corporate compliance programs, codes of conduct. He is also considered an authority in the establishment, training, and oversight of the investigative protocols carried out by financial intelligence, corporate security, and internal audit units.

Tags Matt Tanzer

Great Women in Compliance

Danielle Cannata on Women’s Rights, Corporate Integrity and the B20 Summit

Post author By admin
Post date October 14, 2020
No Comments on Danielle Cannata on Women’s Rights, Corporate Integrity and the B20 Summit

Welcome to the Great Women in Compliance Podcast, co-hosted by Lisa Fine and Mary Shirley.
In this episode of Great Women in Compliance, Lisa speaks with Danielle Cannata, who is senior counsel at SABIC, which is the Saudi Basic Industries Corporation. In her role, she is responsible for the company-wide Compliance Program and monitoring and promoting compliance at SABIC.
Danielle is also an advocate for women around the world. In particular, she is one of the co-chairs of the of the Integrity and Compliance Taskforce for the B20, which convenes before the G20, and where the B20 taskforce will present a report to the G20 Presidency.
Danielle will talk about her work on the task force, and specifically about the recommendations for women and recommendations and tools for women to address and report wrongdoing. She also provides her perspective on working in a global role and working with Saudi and the Middle East over her 12 years at SABIC.
Join the Great Women in Compliance community on LinkedIn here.

Tags Danielle Cannata

Compliance Into the Weeds

Citibank Failures in Risk Management

Post author By admin
Post date October 14, 2020
No Comments on Citibank Failures in Risk Management

Compliance into the Weeds is the only weekly podcast which takes a deep dive into a compliance related topic, literally going into the weeds to more fully explore a subject. In this episode Matt and Tom go into the weeds to look at the recent fine of $400 million against Citibank for its poor risk management process. Some of the issues we consider are:

· Four areas of concern(1) Poor ERM; (2) Poor compliance; (3) Poor internal controls; and (4) Data governance.

· How the OCC Order is an audit road map.

· What does that mean for compliance on the Board?

· Did the OCC push out Michael Corbat?

· Focus on the ERM Blueprint.

Resources

See Matt’s blog posts on Radical Compliance-Citigroup’s Governance Issues, Part 1 and Citigroup, Part 2-Better ERM Program