Author: FTI Consulting

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Fraud Eats Strategy

Keeping Criminality Out of the Casino

Las Vegas has come to symbolize the commercialization of gambling. Casino gaming has become an extension of the global hospitality and tourism business While the mob may not be the factor it once was, criminals are still attracted to casinos and as a result, illicit money still finds its way into casinos banks despite their devotion of considerable compliance and anti-money laundering resources designed at keeping it out. Financial crisis aside, casinos are the most profitable and desirable centerpieces of global hotel and casino gaming empires.

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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.
 

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Fraud Eats Strategy

Destigmatizing Whistle-Blowers: The SEC’s Office of the Whistleblower 10 Years In – Best Practices for Companies in a Brave New World

The passage of Dodd-Frank represented a major overhaul of U.S. financial regulations. Among the Act’s most notable achievements were the creation of the U.S. Securities and Exchange Commission (“SEC”) Office of the Whistleblower and the SEC Whistleblower Program. In its short, 10-year history, the SEC Whistleblower Reward Program has been extraordinarily successful in enabling the SEC to root out securities fraud and protect investors. Since the inception of the SEC Whistleblower Program, the SEC has paid more than $900 million in awards to whistleblowers resulting in more than $3.5 billion in financial remedies. According to the SEC Whistleblower Program’s 2020 Annual Report, the SEC is tracking over 1,100 matters in which a whistleblower’s tip has caused a Matter Under Inquiry or investigation to open.

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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.
 

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Fraud Eats Strategy

The Return of the Road Warrior: What to Expect from the Resumption of Business Travel

In this week’s episode of Fraud Eats Strategy, host Scott Moritz discusses what individuals can expect as they resume travel and other “know before you go” resources for travel safety with Michael Savicki, VP of Global Business Travel at American Express.

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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.
 

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Fraud Eats Strategy

Brazil is not for Beginners: Operation Lava Jato Part 2

Part 2 of this episode series continues the deep dive into Lava Jato or Operation Car Wash, the largest and most complex corruption investigation in the history of Brazil.

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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.
 

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Fraud Eats Strategy

Fixing Brazil: Operation Lava Jato and How it Has Forever Changed Latin America

In this episode, we’re going to discuss Lava Jato or Operation Car Wash – the largest and most complex corruption investigation in the history of Brazil which to date has spread to 11 countries, mostly in Latin America. When the Organisation of Economic Cooperation and Development – the OECD – published the Foreign Bribery Report in 2014 examining corruption enforcement across the world, Brazil was credited with zero corruption prosecutions.

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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.
 

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Fraud Eats Strategy

Part 2 – A Recap of The First 30 Episodes

When we launched the “Fraud Eats Strategy” podcast, we promised to explore organized crime, boiler rooms, money launderers, warlords, kleptocrats and fallen CEOs, and the companies that have been damaged or destroyed through their criminality. Throughout the first 30 episodes, we hope that you have seen these efforts and enjoyed the content!

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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.
 

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Fraud Eats Strategy

Fraud Eats Strategy – First 30 Episodes Recap – Part 1

When we first launched the “Fraud Eats Strategy” podcast series, we promised to explore organized crime, boiler rooms, money launderers, war lords, kleptocrats and fallen CEOs, and the companies that have been damaged or destroyed through their criminality. In the first 30 episodes, I like to think we’ve delivered on that promise.

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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.
 

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Fraud Eats Strategy

Raising the Boards Compliance IQ: Meeting Increased Compliance Expectations

Beginning in November 2012 with the publication of A Resource Guide to the U.S. Foreign Corrupt Practices Act (commonly referred to as the FCPA Resource Guide), the U.S. Department of Justice and the Securities Exchange Commission have regularly been publishing useful and informative guidance on the elements of effective compliance programs and the Department and the Commission’s expectations. Following the publication of the FCPA Resource Guide, the DOJ Fraud Section published another important document in February 2017 entitled “Evaluation of Corporate Compliance Programs”. It has been updated twice since then in 2019 and again in 2020. The FCPA Resource Guide was also updated in 2020. These two documents are the primary desk references used by federal prosecutors to examine whether a company they are investigating has an “effective compliance program”. Because of that, it is incumbent upon board members and C-suite executives to be familiar with these documents, understand what is expected of them and to hold themselves and others accountable ensuring that the company has properly considered the risks of their unique business operations and has tailored a robust compliance program based upon a nuanced understanding of that risk.

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.
 

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Fraud Eats Strategy

The Achilles Heel of FCPA Compliance: Bribe-Paying Third Parties

Rarely do we hear or read about the names of third-party bribe payers or the names of their companies. Global companies, particularly those who ship products internationally or rely on third-parties in other ways to bring their products and services to market, are heavily reliant on virtual armies of third-party intermediaries to operate internationally. They are a necessary evil who can act on an organization’s behalf, represent them in the marketplace and potentially trigger significant liability under the FCPA, sanctions or anti-money laundering laws.

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.
 

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Fraud Eats Strategy

Chasing Bernie’s Billions: Part 2

Part 2 of the special edition episode we continue the discussion of the most comprehensive and successful financial investigation and asset search in history; The Madoff Ponzi Scheme.

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.