Categories
Looking Back on 9/11

Looking Back at 9/11: Eric Feldman – A Wake Up Call

Eric Feldman is Tom Fox’s guest on this episode of Looking Back at 9/11. Eric is the Senior Vice President and Managing Director at Affiliated Monitors, a company that deals with monitoring large and small companies in the government contracting, construction, engineering, manufacturing, and financial services. He also conducts assessments of corporate ethics and compliance programs across many countries. Eric joins Tom to talk about the impact the events of 9/11 had on the role of Inspector General.

The Impact of 9/11 on The IG’s Role
Eric explains to Tom that 9/11 was the most informative time of his career, and the careers of many other Inspector Generals. It was a refocusing moment for everyone. Eric got to work within the oversight function, but as part of the mission he was overseeing. “That focus on mission was it for me,” he tells Tom. Eric expresses that understanding the mission helped make him a better Inspector General. IGs all over the world became more concerned with looking at the broader picture of how funds were being used at their agencies to fight the war on terror, instead of the minutiae of looking at time and attendance reporting.

The Importance of The IG Now
Tom asks Eric to elaborate on how the IG’s role rose in prominence post-9/11. Eric explains that government IGs became “part of the team” in different ways. There is more collaboration now across the agencies that IGs oversee. There is also independence: Eric expresses that there must be a balance between collaboration and independence. IGs are especially important as they ensure that the dollars being spent on the war and mission are being spent properly.

A Wake Up Call of Unity
Eric reflects that 9/11 was a wake-up call for the United States. The country came together, and there was a level of unity and patriotism, as well as a sense of duty that overtook politics. Eric hopes that the people can return to that unity without another catastrophe. 

Resources
Eric Feldman | LinkedIn | Twitter
Affiliated Monitors

Categories
Everything Compliance

Everything Compliance – the 9/11 Edition


Welcome to the only roundtable podcast in compliance. Today, we have the full quintet of Matt Kelly, Jonathan Marks, Mike Volkov, Jonathan Armstrong and Jay Rosen episode dedicated as our collective reflections on the 20thanniversary of 9/11. We end with a veritable mélange of shouts outs and one epic rant.
1. Mike Volkov has a melancholy shout out for the US soldiers killed in the recent bombing in Kabul who were not yet born or very young children on 9/11.
2. Jonathan Marks shouts out to the first responders of 9/11 and the men and women of the US military.
3. Jay Rosen shouts to civility and unity, lost commodities in 2021 America and hopes we can reclaim those qualities that brought us together after 9/11.
4. Matt Kelly has an epic rant on backsliders in politics and society that are running away from what America stands for.
5. Jonathan Armstrong shouts out to all those first responders who run towards the danger and to Dr. Peter Holden and his colleagues who treated bombing victims on 7/7 in London.
6. Tom Fox shouts out to men and women of the US military who went to war some 20 years ago when they were in the late teens and early 20s. He also shouts out to Iraq veteran John Lee Dumas who reminds us all that we are the Land of the Free because of the Brave.
Additional Resources:
For more reflections on 9/11, check out my podcast series, Looking Back on 9/11.  The full schedule is:
Sept. 6-Gabe Hidalgo
Sept. 7-Juan Zarate
Sept. 8-Alex Dill
Sept. 9-Eric Feldman
Sept. 10-Scott Moritz
Sept.11-John Lee Dumas
The podcasts will post at midnight on iTunesYouTube, Megaphone and Spotify. It will post at 6 AM on the Compliance Podcast Network and JDSupra.
The members of the Everything Compliance are:
•       Jay Rosen– Jay is Vice President, Business Development Corporate Monitoring at Affiliated Monitors. Rosen can be reached at JRosen@affiliatedmonitors.com
•       Mike Volkov – One of the top compliance commentators and practitioners around and the Chief Executive Officer of The Volkov Law Group, LLC. Volkov can be reached at mvolkov@volkovlawgroup.com
•       Matt Kelly – Founder and CEO of Radical Compliance. Kelly can be reached at mkelly@radicalcompliance.com
•       Jonathan Armstrong –is our UK colleague, who is an experienced data privacy/data protection lawyer with Cordery in London. Armstrong can be reached at jonathan.armstrong@corderycompliance.com
•       Jonathan Marks is Partner, Firm Practice Leader – Global Forensic, Compliance & Integrity Services at Baker Tilly. Marks can be reached at jonathan.marks@bakertilly.com
The host and producer, ranter (and sometime panelist) of Everything Compliance is Tom Fox the Voice of Compliance. He can be reached at tfox@tfoxlaw.com. Everything Compliance is a part of the Compliance Podcast Network.

Categories
Daily Compliance News

September 9, 2021 the Holmes on Trial edition


In today’s edition of Daily Compliance News:

  • MarshMac gets dedicated CCO. (WSJ)
  • Texas anti-abortion law to cost state millions. (Bloomberg)
  • Opening statements in Elizabeth Holmes trial. (WSJ)
  • Silicon Valley culture on trial. (FT)
Categories
Blog

Looking Back on 9/11: Eric Feldman – How 9/11 Changed the Role of the IG

This coming Saturday is the 20th anniversary of the attacks upon America on September 11, 2001. Like most Americans, this was the seminal event in the history of our country. I have been thinking a lot about that date and the anniversary; even more so with the fall of Afghanistan and the evacuation from Kabul. I wanted to do something to commemorate this anniversary, so I decided to do a podcast series featuring the personal stories of persons in the compliance field with their thoughts about what the date of 9/11 means to them, how it changed our profession and their thoughts looking back some 20 years later. The lineup for this week is:

  • 6 – Gabe Hidalgo
  • 7 – Juan Zarate
  • 8 – Alex Dill
  • 9 – Eric Feldman
  • 10 – Scott Moritz
  • 11 – John Lee Dumas

For this episode of Looking Back at 9/11, I visited with Eric Feldman, Senior Vice President and Managing Director at Affiliated Monitors, Inc. (AMI), a company that deals with monitoring large and small companies in government contracting, construction, engineering, manufacturing, and financial services. AMI is also the sponsor of the Looking Back on 9/11 podcast series. Feldman also conducts assessments of corporate ethics and compliance programs across many countries. Eric talked about the impact the events of 9/11 had on the role of Inspector General (IG) at the CIA.
On the morning of September 11, 2001, at 7:30 AM, Eric was in the morning staff meeting at the CIA. Then Director George Tenet was en route to the Headquarters. An assistant of Director Tenet came into the conference room and announced that a plane had just hit the World Trade Center. Feldman related that although it “was unclear what was going on at that point before the second plane hit, everyone in that room was quite certain what was going on because of reporting that had gone on before that.” From that point it was “battle stations and you had never seen people snap to attention and leave as quickly as that.”
Feldman went back downstairs back to his office where he watched the second plane hit the World Trade Center. At that point, Feldman was scheduled to be heading to the White House for a meeting of agency IGs to meet on the President’s Council on Integrity and Efficiency. As he could not get in touch with anyone at the White House, he got into a car and drove down. As he was driving down George Washington Parkway, he could see the smoke coming out of the Pentagon. Feldman said, “it was clear we needed to go back, and we made a U-turn on the cross, the median on the GW Parkway, which is a quite a feat, and headed back toward CIA headquarters. As we’re coming into the compound, people are rushing out of the compound on foot, which was somewhat disconcerting. At that point, of course, there were all kinds of rumors, about the next plane, which ultimately crashed in Pennsylvania, but they thought would, could potentially be hitting the agency. It was chaos.”
9/11 greatly changed the role of IGs. Feldman noted, “it was the most informative time of my career, and the careers of many other Inspector Generals. It was a refocusing moment for everyone.” Feldman got to work within the oversight function, but as part of the mission he was overseeing. “That focus on mission was it for me”. Feldman went to work for John Brennan in an operational role which Feldman said helped make him a better IG, “as part of the mission that we were overseeing, and it gave me a renewed sensitivity to why we’re there in the first place, IGS, auditor’s, compliance officers need to understand the mission and the organization that they are overseeing.” Feldman believes that IGs all over the world became more concerned with looking at the broader picture of how funds were being used at their agencies to fight the war on terror, instead of the minutiae of looking at time and attendance reporting.
We then turned to the how the IG role changed post-9/11. Government IGs became “part of the team” in different ways. This new focus fostered more collaboration across the agencies that IGs oversee. There is also independence: Eric expressed that there must be a balance between collaboration and independence. IGs are especially important as they ensure that the dollars being spent on the war and mission are being spent properly. Feldman believes there can be both collaboration and independence by IGs, that these “are not mutually exclusive terms. I think that IGs across the government became more collaborative and, therefore, I think much more effective in doing what they’re doing.” He also said that the other thing that happened, particularly in places like the CIA and Defense Department and even within the greater defense community, is that the IGs became very important in ensuring that all of the dollars that were needed to be spent on the war and related mission expenditures were spent properly.
We concluded by Feldman reflecting back on 20 years after the initial attacks on 9/11. He reflected that 9/11 was a wake-up call for the United States. The country came together, and there was a level of unity and patriotism, as well as a sense of duty that overtook politics. It was so good to see. He said, “I think we’ve lost that. And I wish that we could get refocused without another catastrophe on what’s important in this country and the tribalism, as we all know, is just way out of hand. And I yearn for that feeling, that we were one country, solidly behind a single mission to defend ourselves.” He hopes that the people can return to that unity without another catastrophe.
Please check out each of the podcasts this week. They will post at 6 AM CT on the Compliance Podcast Network and JDSupra and midnight on Innovation in Compliance, YouTube, iTunes and Spotify. Tomorrow Scott Moritz will join me to discuss how the mission of the FBI changed, literally overnight.

Categories
Content Karate

Content Karate Episode 008: Never Underestimate the Cool Factor


 

Tom Fox is literally the guy who wrote the book on compliance with his seminal one volume book “The Compliance Handbook” published in May 2018 which was the No. 1 new bestseller on Amazon.com through its initial run. Additionally, Tom has authored 16 books on business leadership, compliance and ethics and corporate governance, including the international best-sellers “Lessons Learned on Compliance and Ethics” and “Best Practices Under the FCPA and Bribery Act” as well as his award-winning series Fox on Compliance.

Tom leads the social media discussion on compliance with his award-winning blog, The FCPA Compliance and Ethics Blog and is the Voice of Compliance, having founded the 40 show Compliance Podcast Network. He is also a member of the C-Suite Radio Network. He can be reached at tfox@tfoxlaw.com. Get more great episodes over on Repurpose House, or watch the interview on YouTube!

What You’ll Learn

  • [01:29] Tom Fox, the compliance evangelist, shares his mission and how the term “evangelist” reflects his goals as the voice of compliance.
  • [02:36] With most of his time occupied with managing 40 podcast shows, Tom shares what his processes are and the basic overview of the wide array of content he does.
  • [06:25] Tom shares how he strategizes promoting all of his shows on social media.
  • [08:58] “The only thing I swear by is doing more.”
  • [10:37] The importance of consistency in scheduling and creating content to garner a loyal audience and reaching more people
  • [11:59] Tom shares two of his best podcasts he recommends for business owners and marketers to check out for tips and strategies.
  • [14:30] Tom swears by repurposing the coolest parts of his podcasts and sharing them on social media, and no matter how old the content is, you can always breathe new life to it.
  • [16:52] What’s his best performing piece of content? Tom shares the most unique and successful podcast episode he’s ever done.
  • [18:10] Number one: go niche and go big. Number two: do a daily topic that you are passionate about.

Connect with Tom

Resources Mentioned

Categories
Fraud Eats Strategy

Bringing Order to the Chaos-Navigating the Steps of a FCPA Investigation

In part 1 of this Fraud Eats Strategy series, we discuss how to bring order to the chaos of the early days of an FCPA investigation and avoid mortgaging the company’s future in the process.

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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.
 

Categories
Compliance Kitchen

Sudan Sanctions Violations


In this episode, we look at Bank of China (UK) Limited’s (“BOC UK”) agreement to pay over $2.3M to settle its potential civil liability for violations of the (now repealed) Sudan Sanctions Regulations.

Categories
Great Women in Compliance

Lisa Looks Back on 9/11


Welcome to the Great Women in Compliance Podcast, co-hosted by Lisa Fine and Mary Shirley.
Today is a special GWIC episode in remembrance of the 20th anniversary of 9/11. Lisa was in Washington, D.C., and she shares some of her personal recollections of that day, including the chaos as the day unfolded, the contrast of the beautiful sky that day and the fear, and the sense of community while at the same time knowing things would never be the same.
It has also been on her mind over the past year, especially after living through the insurrection on January 6, and the similarities and differences between the events in 2001 and in 2021.
Lisa also reflects on how these two events have shaped her path and particularly about how she thinks about ethical decision-making and compliance. In particular, how global issues can be local, and how can we improve our local community – whether that is inside or outside our organizations.
The Great Women in Compliance Podcast is on the Compliance Podcast Network with a selection of other Compliance related offerings to listen in to. If you are enjoying this episode, please rate it on your preferred podcast player to help other likeminded Ethics and Compliance professionals find it. You can also find the GWIC podcast on Corporate Compliance Insights where Lisa and Mary have a landing page with additional information about them and the story of the podcast.
Corporate Compliance Insights is a much appreciated sponsor and supporter of GWIC, including affiliate organization CCI Press publishing the related book; “Sending the Elevator Back Down, What We’ve Learned from Great Women in Compliance” (CCI Press, 2020). Thank you to all those who have taken the time to rate the GWIC podcast and book, it’s much appreciated.
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 are 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.
You can subscribe to the Great Women in Compliance podcast on any podcast player by searching for it and we welcome new subscribers to our podcast.
Join the Great Women in Compliance community on LinkedIn here.

Categories
Looking Back on 9/11

Looking back at 9/11: Alex Dill – Patriot Act: The AML Response to Terrorist Threats


Alex Dill is Tom Fox’s guest on this episode of the Looking Back at 9/11 Series. Alex is a scholar and professor specializing in financial regulation, risk management and compliance. He also has corporate experience in ​​the ethics of business practices in finance, bankruptcy, bond covenants, and debt markets. He joins Tom to talk about The Patriot Act’s impact on responding to terrorist threats.
Listen to the Episode Now:

How 9/11 Changed AML
Before 9/11, AML regulations were very lax and backward looking. The focus was on prosecuting crimes that were already committed, and prosecuting money laundering, more so than the financing of terrorism. Banks weren’t engaging in meaningful customer due diligence as they felt the process invasive. After 9/11, this all changed. Law enforcement agencies and financial institutions revamped their policies and procedures to take a more preventive approach to AML and financing of terrorism. This led to The Patriot Act.
The Financial Response
Tom asks Alex if he saw a similar regulatory response with non-financial institutions with respect to Patriot Act AML procedures post-9/11. “There was a huge amount of rulemaking that had to be done,” Alex responds. He adds that public companies adopted customer due diligence, and that it was applied more broadly to different sectors, but with a risk-based approach. Companies now had to file suspicious activity reports, not just banks. Customer identification was also introduced. “The Patriot Act sought to encourage cooperation among law enforcement agencies, and among the financial institutions themselves to share information and obtain information from foreign law enforcement authorities,” Alex tells Tom.
The Challenge With The Patriot Act 
Alex explains to Tom that there are challenges with the Patriot Act. A major challenge is detecting the financing that goes into these attacks. Funds that finance these actions are sourced from both legal and illegal means, and that is a major issue. The transaction amount can be small, and this might pose a risk to some compliance officers. 
Technology in Anti-Terrorism
Alex remarks that technology is very important moving forward in the fight against terrorism, as it has changed the way we function in our world. The downside of technology is that it has also helped create some of the compliance issues we have today. Social media platforms have helped to create polarization in the society, and programs like cryptocurrency have been used by criminals for money laundering, and financing terrorism. However, Alex ends with a positive note stating that the AML act of 2020 has been doing the work to help curb these issues.
Resources
Alex Dill | LinkedIn | Twitter

Categories
Career Can D0

The Importance of Connection with Tricia Benn


 
In this episode of Career Can Do, Mary Ann Faremouth chats with Trica Benn, Chief Community Officer and Executive Vice President of The C-Suite Network. Tricia supports c-level executives and other entrepreneurs to achieve professional success.

The C-Suite Network is a platform for executives, business owners, investors, and influencers. They are committed to creating access across all their networks, and they offer professional services such as media, TV, radio, digital content, and their very own marketplace to accelerate the success of the audience they serve. Tricia’s role in all of this is to lead that success. She shares the four principles that C-Suite is run by, which are: relevancy, reach, reciprocity, and respect.
 
Rather than the journey or the destination, what’s most important in life is the people you meet along the way, Mary Ann comments. She praises Tricia for her dedication to celebrating people and helping them grow and expand. Tricia credits this to her “understanding that we’re all people striving to do something great.” 
 
Resources
 
Tricia Benn | LinkedIn
 
Faremouth.com