In today’s edition of Daily Compliance News:
In this episode, we talk about the importance of seeing your compliance program through the government’s eyes. The DOJ Fraud Section recently released its latest update to their guidance on evaluation of corporate compliance programs. While it does not represent a major rewrite, it did provide further clarity on the government’s expectations on post-merger integration, continuous program improvement and compliance’s access to relevant data sources needed to drive the program.
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.
CONVERGE is in its 5th year of bringing together the world’s leading companies for 2 days of dynamic speakers, thought-provoking breakout sessions, and opportunities to connect with like-minded professionals. This year the conference has gone virtual. You will leave the conference with new resources and best practices allowing you to continue the hard work of driving ethics to the center of your business. In today’s episode I visit with Mary Shirley. We visit about her panel at Converge20 on Bypassing burnout: Maximize your ethical impact, grow your career, and empower your team.
Mary is Senior Director, Ethics and Compliance , Fresenius Medical Care North America. In this session, you will learn how to be a more powerful force for good within your organizations from a group of growth-oriented compliance pros. For more registration and information on Converge20, click here.
Amanda and Michelle welcome Ronnie Feldman of Learnings and Entertainments to discuss how to make compliance awareness and training interesting…and to make a big announcement for both ComplianceLine and L&E!
Check out more episodes and full episode videos at ComplianceLine.com, and don’t forget to subscribe on your favorite podcast platform!
Episode Notes
Anil Kona is the CEO of Vertical Discovery Corp, a tech company dedicated to the evolution of eDiscovery. He is also the CEO of Spectrum Analytics. He joins Vince Walden to discuss global fraud and what Spectrum is doing to eradicate it.
According to the Association of Certified Fraud Examiners, the projected global loss due to fraud is estimated to be $3.5 trillion by 2020. Organizations worldwide lose 5% of their revenue to fraud, Anil cites. Now more than ever, he points out, the market needs a fully integrated automated forensic data analytics platform that has a low entry barrier and can carry out internal audits to identify fraud.
Spectrum Analytics was built to address various risk areas, including regular financial fraud and online fraud. Spectrum has developed an automation that lowers the barrier to entry by dividing it into four categories.
Resources
Anil Kona on LinkedIn | Twitter
RapidSpectrum.com
Welcome to the only roundtable podcast in compliance. Today, we have the full quintet of Jonathan Armstrong, Jay Rosen, Matt Kelly, Jonathan Marks and Mike Volkov for a deep dive discussion into the recent Herbalife FCPA enforcement action. We end with a veritable mélange of rants and shouts outs.
- Jonathan Armstrong looks at the case from the UK and Bribery Act angle and finds some Scottish cases which might inform a response. Armstrong shouts out to those ‘in transition’ and encourages them to engage.
- Jay Rosen considers the lack of monitor in the Herbalife case and takes a deep dive into some of the possible reasons. Jay rants about AG Bill Barr and his unitary theory that the entire DOJ works for him personally.
- Matt Kelly considers the role in internal audit in this case and then looks at the (non) actions of the Board of Directors. Matt shouts out to Nora Dannehy and her principled stance.
- Mike Volkov considers how he would have approached counseling Herbalife if they had called him when it all hit the fan. He shouts out Ruth Bader Ginsburg.
- Jonathan Marks considers the role of gatekeepers in this case and decrees the lack of skepticism at the Board. He rants about IIA for beginning the discussion to reconfigure its 3 Lines of Defense but says it does not go far enough.
- Tom Fox shouts out to Jose Altuvé for breaking through the Mendoza Line by raising his batting average to .215.
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 FCPA 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 armstrong@corderycompliance.com
- Jonathan Marks is Partner, Firm Practice Leader – Global Forensic, Compliance & Integrity Services at Baker Tilly. Marks can be reached at marks@bakertilly.com
The host and producer (and sometime panelist) of Everything Compliance is Tom Fox the Compliance Evangelist. He can be reached at tfox@tfoxlaw.com. Everything Compliance is a part of the Compliance Podcast Network.
CONVERGE is in its 5th year of bringing together the world’s leading companies for 2 days of dynamic speakers, thought-provoking breakout sessions, and opportunities to connect with like-minded professionals. This year the conference has gone virtual. You will leave the conference with new resources and best practices allowing you to continue the hard work of driving ethics to the center of your business. In today’s episode I visit with Andy Hinton. We visit about his panel at Converge20 on Whistleblower Protection: The Dawn of the Next Era.
Hinton is well known in the compliance community, having recently retired as the CCO at Google. He is now assisting a whistleblower reporting start up NotMe, which has a tool for misconduct reporting solution for ALL. It is the solution to bridge the gap between employers and employees. The goal is to change workplace culture and make workplaces safe for all. For more registration and information on Converge20, click here.
En este episodio de ¡(H)Ola Compliance!, Matt y Alejandra continúan su análisis de la Encuesta Sobre Corrupción en América Latina 2020 enfocándose en los avances y desafíos en la implementación de programas de cumplimiento. Desde políticas y procedimientos, capacitaciones, monitoreo de terceros, y líneas de alertas e investigaciones los programas de cumplimiento en la región están evolucionando. Pero no sin sus retos. ¿Cómo se compara tu programa de cumplimiento? ¡Únete a nuestra discusión para medirlo!
Preguntas? Contáctenos en podcasts@milchev.com.
¡(H)Ola Compliance! no tiene la intención y no se puede considerar como asesoramiento legal; el contenido solo refleja los pensamientos y opiniones de sus anfitriones.
¡(H)Ola Compliance! explora la ola de cumplimiento de anticorrupción que ha surgido por Latinoamérica. Inmerso en su cariño para la región, Matteson Ellis y Alejandra Montenegro Almonte (Socios de Miller & Chevalier), navegan las aguas de regulaciones de cumplimiento corporativo desde sus oficinas en Washington, DC y trazan las normas de anticorrupción que afectan a la región. A la vez destacan los desafíos y oportunidades que enfrentan las empresas comprometidas a la ética. ¿Te sientes que estás nadando contra la corriente? ¡Entonces tome la ola de cumplimiento en ¡(H)Ola Compliance!
In the Episode, 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 are back from a summer hiatus and wrap up what has been happening on the Wirecard front over the past few weeks.
Some of the highlights include:
- BaFin Unapologetic
- Reporters and Short Sellers – Free to Be, You & Me?
- Political Fallout?
- Another German DAX-listed Company Scandal?
- Impact on EU – Rethinking Germany Frankfurt and Bonn for Financial Services Capitols post-Brexit?
- What is happening within Wirecard now – is the company still going?
- Deutsche is Not Buying
- Has the fullness of the scandal been revealed, or is more coming to light?
- What is, or what was, Project Panther?
- Enron had significant impact on then Big-5; is Wirecard going to impact Big-4 in the same way?