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Compliance Tip of the Day

Compliance Tip of the Day – COSO Objective 2 – Risk Assessment

Welcome to “Compliance Tip of the Day,” the podcast that brings you daily insights and practical advice on navigating the ever-evolving landscape of compliance and regulatory requirements. Whether you’re a seasoned compliance professional or just starting your journey, our goal is to provide you with bite-sized, actionable tips to help you stay ahead in your compliance efforts. Join us as we explore the latest industry trends, share best practices, and demystify complex compliance issues to keep your organization on the right side of the law. Tune in daily for your dose of compliance wisdom, and let’s make compliance a little less daunting, one tip at a time.

Today, we continue our look at the 5 COSO Objectives. Today, Number II—Risk Assessments.

For more information on this topic, refer to The Compliance Handbook: A Guide to Operationalizing Your Compliance Program, 6th edition, recently released by LexisNexis. It is available here.

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#RiskNYC Speaker Series

#Risk New York Speaker Series – Supercharging Compliance with AI with Vince Walden

Join Tom Fox and hundreds of other GRC professionals in the city that never sleeps, New York City, on July 9 & 10 for one of the top conferences around, #Risk New York. The current US landscape, shaped by evolving policies, rapid advancements in AI, and shifting global dynamics, demands adaptive strategies and cross-functional collaboration.

At #RISK New York, you will master the New Regulatory Reality by getting ahead of US regulatory shifts and their impact. Conquer AI and Tech Risk by Safeguarding Your Organization in an AI-Driven World and Understanding the Implications of Major Tech Investments. Navigate Financial and Crypto Volatility by Protecting Your Assets and Exploring Solutions in a Dynamic Market. Strengthen Your GRC Framework by Leveraging Governance, Risk, and Compliance for Strategic Advantage. Protect Digital Trust by addressing challenges in cybersecurity and data privacy, and combating misinformation. All while meeting with the country’s top #Risk management professionals.

In this episode of the Risk GRC speaker series, Tom Fox talks with Vince Walden, CEO of Kona AI, about his career in compliance, fraud, and risk management. Vince discusses his passion for data analytics and details the development of a new Compliance and Transaction Monitoring platform. They explore the use of AI, particularly predictive modeling and compliance language models, to enhance risk management. Vince also shares his excitement about the recent acquisition of his company by Covasant and the future of AI-driven compliance technology. The discussion ends with anticipation for the upcoming Risk NYC conference, where Vince looks forward to networking and exchanging insights on current risk challenges.

Resources:

#Risk Conference Series

#RiskNYC—Tickets and Information

Vince Walden on LinkedIn

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Upping Your Game

Upping Your Game: Crowd-Sourcing Risk Management Intelligence with AI

In February, the Trump Administration suspended investigations under and enforcement of the FCPA. Many compliance professionals have since wondered what this will mean for corporate compliance programs going forward. Hui Chen challenged compliance professionals with the statement, “It’s time to up your game.”

This podcast series, sponsored by Ethico and co-hosted with Ethico co-CEO Nick Gallo, hopes to meet Hui Chen’s challenge. We will discuss how compliance professionals can ‘Up Their Game’ by utilizing currently existing Generative AI (GenAI) tools to significantly enhance their compliance programs. As compliance professionals, it is critical to recognize that this moment is not merely about incremental improvements but about elevating our profession to an entirely new level of effectiveness, efficiency, and organizational value.

In this episode, hosts Tom Fox and Nick Gallo explore the revolutionary potential of AI for Speak Up Cultures by introducing risk intelligence directly into business operations. They discuss the intricacies of whistleblowing, speak-up culture, and the integral role of AI and machine learning in enhancing compliance programs. They highlight deficiencies in current systems and propose how AI can crowdsource risk intelligence at scale, improve case triage, and facilitate a collaborative environment. Key points include the importance of anonymity, efficient triage, and how AI facilitates communication with employees in their preferred settings. The discussion also explores transforming the culture of compliance into proactive risk management, ultimately driving efficiency, effectiveness, and a better corporate culture.

Key highlights:

  • Deficiencies in Whistleblowing Processes
  • Crowdsourcing Risk Intelligence
  • The Importance of Anonymity and AI in Reporting
  • Engagement and Communication Strategies
  • AI in Triage and Investigation

Resources:

Upping Your Game-How Compliance and Risk Management Move to 2030 and Beyond on Amazon.com

Nick Gallo on LinkedIn

Ethico

Tom Fox

Instagram

Facebook

YouTube

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LinkedIn

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Everything Compliance - Shout Outs and Rants

Shout Outs and Rants: Episode 156, To Document or Not

Welcome to this edition of Everything Compliance, Shout-Outs, and Rants. In this episode, we have the quintet of Matt Kelly, Jonathan Marks, Jonathan Armstrong, Karen Woody, and Karen Moore. It’s all hosted by Tom Fox.

  1. Karen Moore shouts out to beleaguered college grads and their difficulties in job searches.
  2. Matt Kelly shouts out to Netflix shareholders to vote off the Board a recalcitrant member.
  3. Jonathan Marks shouts out to graceful leaders and singles out Princess Kate.
  4. Karen Woody shouts out to the Indiana Pacers for defying all the odds.
  5. Jonathan Armstrong shouts out to cricket great Jimmy Anderson.
  6. Tom Fox shouts out the 7 most famous words in American history, “When in the course of human events…” and asks you to think about what they mean in 2025.

The members of Everything Compliance are:

Tom Fox, the Voice of Compliance, is the host, producer, and sometimes panelist of Everything Compliance. He can be reached at tfox@tfoxlaw.com. The award-winning Everything Compliance is part of the Compliance Podcast Network.

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SBR - Authors' Podcast

SBR-Authors Podcast: Unconditional Values in Leadership and Compliance with Andy Crocker

Welcome to the SBR-Authors Podcast! In this podcast series, host Tom Fox visits with authors in the compliance arena and beyond. In this episode, host Tom Fox is joined by aerospace engineer Andy Crocker to discuss his extensive career in aerospace, which encompasses projects ranging from designing launch vehicles to missions focused on sending humans back to the moon.

Crocker examines the impact of these values on teamwork, the limitations of conditional leadership, and the importance of compliance as a natural outcome of a value-driven organization. The discussion also touches on Crocker’s transition phase, his thoughts on instilling these values in broader industry contexts beyond aerospace, and how they can be particularly pivotal for young professionals.

Key highlights:

  • Andy Crocker’s Professional Background
  • The Magic of Rocket Science
  • Transitioning from Tactical to Strategic
  • Values and Leadership in Aerospace
  • The Lunar Landing Competition
  • The Trap of Conditional Leadership
  • Character vs. Compliance
  • Compliance as a Superpower
  • Andy Crocker’s Writing Process

Resources:

Andy Crocker at PR by the Book

Andy Crocker Books on Facebook

Andy Crocker on LinkedIn

Andy Crocker Books Website

PR by the Book Website

Tom Fox

Instagram

Facebook

YouTube

Twitter

LinkedIn

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Daily Compliance News

Daily Compliance News: June 24, 2025, The Questions, Questions and More Questions Edition

Welcome to the Daily Compliance News. Each day, Tom Fox, the Voice of Compliance, brings you compliance-related stories to start your day. Sit back, enjoy a cup of morning coffee, and listen in to the Daily Compliance News. All from the Compliance Podcast Network. Each day, we consider four stories from the business world: compliance, ethics, risk management, leadership, or general interest, all relevant to the compliance professional.

Top compliance stories:

  • Is it safe for Americans to travel abroad? (NYT)
  • What happens when the boss works remotely? (FT)
  • Is bias built into hiring algorithms? (WSJ)
  • Are Canadian companies at risk due to the US’s lack of ABC enforcement? (Globe and Mail)
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Innovation in Compliance

Innovation in Compliance: LeadHERship with Linda Fisk

Innovation is present in many areas, and compliance professionals must not only be prepared for it but also actively embrace it. Join Tom Fox, the Voice of Compliance, as he visits with top innovative minds, thinkers, and creators in the award-winning Innovation in Compliance podcast. In this episode, host Tom Fox visits Linda Fisk, the leader of LeadHERship Global, to discuss the challenges and opportunities faced by female entrepreneurs.

Linda shares her extensive professional journey, from serving as a CMO at notable media companies to founding LeadHERship Global. They discuss the impressive yet under-recognized contributions of women entrepreneurs in the U.S. economy, highlighting stats and trends around new business ventures led by women, especially women of color. Linda emphasizes the ongoing difficulties women face in accessing capital and offers practical steps for success, including addressing stereotypes, learning from each other, and creating supportive networks. The conversation closes with insights on how LeadHERship Global helps women thrive professionally and how men can support this movement. Linda also mentions her recent anthology, “LeadHERship Unveiled,” which features inspiring stories from women leaders.

Key highlights:

  • Current Landscape for Female Entrepreneurs
  • Challenges in Funding for Women Entrepreneurs
  • Practical Steps for Women Entrepreneurs
  • The Vision Behind LeadHERship Global

Resources:

LeadHERship Website

Tom Fox

Instagram

Facebook

YouTube

Twitter

LinkedIn

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Red Flags Rising

Red Flags Rising: S01 E17 – Data-Driven Root-Cause Analysis with Erika Trujillo of SEIA

Mike & Brent welcome Erika Trujillo, Managing Director of SEIA (“say-a”), who, with her company, brings advanced data analytics solutions to solving trade compliance problems. Mike and Brent discuss Erika’s background and the services SEIA provides (00:14); how advanced data analytics can help with export controls risk assessments by, among other things, bringing to bear data from across multiple departments (which is particularly important under U.S. law’s collective knowledge doctrine and the “high probability” standard) (02:10); the importance of differentiating between your company’s “internal data” and the “external data” and of identifying and leveraging what internal data might be sitting within reach (05:03); the importance of contextualization, i.e., taking a holistic perspective at potentially interesting data points that only become informative in the context of other data points, for example data suggesting that EAR99 items that otherwise would not require an export license might be exported for prohibited end-uses or to prohibited end-users (06:53); the need for companies to have the courage to engage with their own data, especially since they are making statements to various governments in any case about their trade flows (09:21); how small- and medium-sized companies can start, step-by-step, to get a handle on their internal data (10:53); how to respond to reports or allegations (i.e., “red flags”) of potential export control violations (12:18); common data pitfalls to avoid (13:51); the importance of prioritization not just in terms of data cleanup projects (14:28); why praying to the accounting platform gods and hoping everything is OK is not sufficient (16:00); the full definition of knowledge (including an awareness of a high probability) and what opportunities that presents for risk-based approaches to trade compliance (16:35); how a data-driven approach to trade compliance can help improve relationships with colleagues in sales and operational functions (18:39); how to overcome the fear of what you might find by taking a deeper dive into your company’s data (19:28); and how a data-driven approach can help with c-suites and boards of directors (20:13). We conclude with a surprise twist in the ever-popular segment, Brent Carlson’s “Managing Up,” in exploring Erika’s mission and purpose in co-founding SEIA.

Resources:

More about SEIA

Contact or Book a Demo with SEIA

Contact Erika

Brent LinkedIn

Mike LinkedIn

Mike & Brent’s “Fresh Looks” Series

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Corruption, Crime and Compliance

DOJ Resumes FCPA Enforcement

Has the pendulum swung back on FCPA enforcement – and will companies be ready when it hits? Is the DOJ’s renewed push on FCPA enforcement a strategic shift – or just old wine in a new bottle?

In this episode, Michael discusses the return of the Justice Department to the FCPA enforcement arena. In a significant development, DOJ announced the resumption of FCPA enforcement, accompanied by a new set of enforcement guidance principles. This guidance is more than policy – it’s a statement of priorities and strategy that will shape how FCPA investigations and prosecutions unfold. While the number of attorneys in DOJ’s FCPA Unit has declined, U.S. Attorneys’ Offices across 94 districts now have increased authority to investigate and prosecute FCPA cases with less oversight. The result? Potentially broader, faster, and more decentralized enforcement. As always, the devil is in the details – and the June 9 DOJ FCPA Guidance Memo delivers plenty.

You’ll hear him discuss:

  • DOJ’s renewed emphasis on prosecuting individuals over corporations, especially when misconduct can’t be directly linked to senior leadership
  • How companies may now have stronger arguments to avoid liability if the wrongdoing is isolated to a small group
  • Expanded autonomy for U.S. Attorneys’ Offices and what this means for enforcement volume and consistency
  • The DOJ’s prioritization of cases that directly impact U.S. national interests and corporate competitiveness
  • Increased scrutiny of links to cartels and transnational criminal organizations, including risks hidden in supply chains and third-party relationships
  • The push for faster, more efficient investigations to avoid the years-long white-collar case backlog
  • Guidance on when facilitating payments, gifts, or travel fall under FCPA exceptions – and why these rarely matter in major prosecutions
  • Why cooperation, early disclosure, and individual accountability may now be companies’ best bet for avoiding charges altogether
  • The DOJ’s sharpened focus on national security sectors like defense, critical infrastructure, and technology

Resources

Michael Volkov on LinkedIn | Twitter

The Volkov Law Group

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FCPA Compliance Report

FCPA Compliance Report – Fraud Risk Management: Insights and Experiences with Peter Schablik

Welcome to the award-winning FCPA Compliance Report, the longest-running podcast in compliance. Today, Tom Fox welcomes Peter Schablik, a seasoned professional in risk consulting and fraud detection. Peter shares his extensive background, including his transitions from consulting to audit and his experiences across various industries. The discussion explores the significance of fraud detection, critical thinking, and strategic fraud mitigation. Key topics include the role of management in fraud prevention, common misconceptions about fraud controls, technological and management overrides, and industry-specific fraud patterns. Peter also emphasizes the importance of basic controls, such as the segregation of duties, the need for a clear tone at the top, the effective use of hotlines, and thorough third-party risk assessments. Peter emphasizes the value of instinctual and behavioral analysis in fraud investigations, providing actionable advice for strengthening an organization’s fraud prevention program.

Key highlights:

  • The Importance of Fraud Detection and Mitigation
  • Common Misconceptions About Fraud
  • Patterns of Fraud Across Industries
  • Segregation of Duties and Basic Controls
  • Investigative Strategies and Behavioral Cues
  • Strengthening Fraud Prevention Programs

Resources:

Peter Schablik on LinkedIn

Want to Catch a Fraudster? Think Like a Cop

Tom Fox

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Facebook

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For more information on the use of AI in Compliance programs, see my new book, Upping Your Game. You can purchase a copy of the book on Amazon.com