Day: December 9, 2020

Categories
The Wirecard Saga

The Wirecard Saga – Dirty Deeds Down Under


Welcome to the latest edition to the Compliance Podcast Network, The Wirecard Saga. In this series, I am joined by Mikhail Reider-Gordon, Managing Director of Institutional Ethics & Integrity at Affiliated Monitors.  In this episode, we take a deep dive into the many and varied discrepancies in all aspects of the Wirecard fraud and investigation.
Some of the highlights include:

  • Current events
  • Recriminations fly – APAS and EY at fisticuffs
  • UK jumps on the Audit Sector Reform Bandwagon
  • Marsalek tainted Wirecard Bank too
  • Six Is the Loneliest Number (at BaFin)
  • Wirecard UK Ireland (WUKI) fraud
  • The Sordid History of Wirecard New Zealand
  • FBME teaches dirty tricks to NZ
  • The Kremlin’s bank
  • The West’s hijacked financial system
Categories
Fraud Eats Strategy

Is Corruption a Part of the UN’s DNA?

In this episode, we look inside the United Nations and its various agencies. We assess the harsh reality of endemic corruption in how governments intersect with UN agencies. Given its unique mission, the nature of how it is funded and disbursed funds largely for things such as large-scale infrastructure building, healthcare, education, and peace-keeping, and the fact that its employees and officers are foreign officials under the law, the UN represents a perfect storm of corruption risk. Scott Moritz speaks to Murphy & McGonigle law partner Robert “Bob” Appleton. Bob was Chief of the first-ever UN Anti-Corruption Unit, the Procurement Fraud Task Force, which existed between 2006-2010, and was responsible in part for the focus of the FCPA by the Fraud Section at DOJ.

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, warlords, 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.
 

Categories
Compliance and Coronavirus

James Green with an Update on Risk Management 9 months into COVID-19


Welcome to the one of the newest additions to the Compliance Podcast Network, Compliance and Coronavirus. In this episode, I am joined by James Green, Director of Risk Advisory Services at SAI Global. James returns to discuss risk management nine months into the Coronavirus health crisis, new risks that have emerged and how companies need to think about business continuity going into 2021 and beyond.
Resources
SAI Global Risk Management Services
James Green on LinkedIn

Categories
Great Women in Compliance

Episode 86- Angela Main, Monitor Certified


Welcome to the Great Women in Compliance Podcast, co-hosted by Lisa Fine and Mary Shirley.
Last year we spoke with Olga Pontes who was in the middle of multiple monitorships at Odebrecht at the time.  This week Mary speaks with Angela Main, Chief Compliance Officer at Zimmer Biomet who recently led the company to a monitor certification – big congratulations to Zimmer Biomet for the momentous achievement!
Mary was especially thrilled to speak with Angela as they share similarities in having New Zealand heritage and being international citizens.  They open the episode by discussing what being an expat really means today.  Is the term now outdated?
Angela shares her experiences with us about what going through the monitorship was like for a global Compliance department and some of the things she learned along the way, including thoughts on how to best work with the monitor and get the most out of the experience.
The natural question for Angela at this stage is, so what next?  Angela shares her priorities for maintaining her Compliance program into 2021 and speaks about how she would approach Compliance fatigue if it were to come up as an issue moving forward.
Mary was curious about how Angela kept her team motivated and focused given monitorships involve a great deal of work for staff to manage and Angela supplied her initiatives for keeping the team going through a busy period.
We wrap up this episode by asking Angela to gaze into her crystal ball and speak about what the future holds for Compliance – listen in to hear her astute views on several different areas, including the future of monitorships.
Have you heard that the Great Women in Compliance Book, Sending the Elevator down is now available in an electronic version?  Head to Amazon to get your copy today!
If you’ve already read the booked and liked it, will you help out other women to make the decision to leverage off the tips and advice given by rating the book and giving it a glowing review on Amazon?
As always we’re so grateful for all of your support and if you have any feedback or suggestions for our 2021 line up, or would just like to reach out and say hello, we always welcome hearing from our listeners.
Join the Great Women in Compliance community on LinkedIn here.

Categories
Everything Compliance

NDAA Creates New Whistleblower Law

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, our 200th episode Matt and Tom go into the weeds to look at the new anti-money launder whistleblower law (AMLA) which is part for the updated Bank Secrecy Act legislation, included in the National Defense Authorization Act authorization of 2012 (get all that). It significantly expands whistleblower protections for those who come forward with AML or other similar allegations. Some of the issues we consider are:

·      Why has this been created for the Department of the Treasury?

·      Who will administer the whistleblower program?

·      What lessons has Congress learned about protecting whistleblowers?

·      Can a CCO be a whistleblower under this new law? How about a GC?

Resources

For more information see Mengqi Sun’s article in the WSJ Risk & Compliance:

Defense Bill Proposes Anti-Money-Laundering Whistleblower Program 

For an excellent breakdown of the legislation, see the Zuckerman Law Firm’s Whistleblower Protection Law and SEC Whistleblower Awards Blog:

Anti-Money Laundering Act Establishes Whistleblower Reward Program and Protects Whistleblowers from Retaliation

Categories
Daily Compliance News

December 9, 2020-the Supply Chain Woes edition


In today’s edition of Daily Compliance News:

  • Who is in your supply chain? (WaPo)
  • McKinsey apologizes. (NYT)
  • Employee security concerns increase in WFH era. (WSJ)
  • Nationstar fined $91MM over fraudulent foreclosures. (WSJ)