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Fraud Eats Strategy

Using Artificial Intelligence to Root Out Fraud and Insider Trading

In this episode, we discuss the rapidly expanding use of artificial intelligence, machine learning and robotic process automation to undertake trade surveillance and mitigate fraud. In this episode, we discuss the rapidly expanding use of artificial intelligence, machine learning and robotic process automation to undertake trade surveillance and mitigate fraud. Joining me today are two experts on the subject of Artificial intelligence from both the technical and legal and compliance perspectives.

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.
 

Categories
Compliance and Coronavirus

John Castner on Sustainability During the Era of Covid-19


Welcome to the newest addition to the Compliance Podcast Network, Compliance and Coronavirus. As the Voice of Compliance, I wanted to start a podcast which will help to bring both clarity and sanity to the compliance practitioner and compliance profession during this worldwide health and healthcare crisis. In this episode, I am joined by John Castner, President and CEO of IsoMetrix Americas who has over a decade’s experience in EH&S, having been responsible for setting up and growing the USA office of CMO, a leading product in this space. We visit about issues around sustainability in the era of Covid-19 and moving forward into 2021 and beyond.
IsoMetrix is a leading supplier of integrated software for governance, risk, and compliance. You can check out their website, here.

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Great Women in Compliance

Matt Kelly-the Compliance Observer


Welcome to the Great Women in Compliance Podcast, co-hosted by Lisa Fine and Mary Shirley.
In today’s episode, Lisa talks with Matt Kelly, who is the CEO and Editor of Radical Compliance. Matt is a journalist who is a long-time reporter and writer about compliance and GRC. He is also a supporter and advocate of women in compliance and of the Great Women in Compliance podcast, as he was the unofficial tech support, advisor and one of the first podcast subscribers.
Matt and Lisa discuss the continuing influence of #MeToo, and how this has impacted organizations and how it relates to the social justice movements and Black Lives Matter. They also talk about how the influence of social media and how it is used as a tool to raise and publicize concerns, and how this impacts corporate culture, investigations and compliance functions.
Matt also writes about retaliation – both for reporters, and as an issue for compliance professionals. He also gives his view of things of what someone should do in their 20s in their careers, and we won’t spoil that for you!
Join the Great Women in Compliance community on LinkedIn here.

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Compliance Into the Weeds

The J&F FCPA Enforcement Action


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 episode Matt and Tom go into the weeds to look at the recent FCPA enforcement action involving the Brazilian megalith, J&F Investments. Some of the issues we consider are:

  • It was one of the most bold, audacious bribery schemes ever.
  • Follow on from Brazil’s largest anti-corruption enforcement action, JBS.
  • What happens when an acquirer of a US listed company is the corrupt entity?
  • Is a target required to perform due diligence on the source of the money used in a M&A deal?
  • Did Pilgrim’s Pride have any responsibility?
  • Are there any US individuals involved?
  • Is Pilgrim’s Pride a victim, entitled to compensation?

 Resources
See Matt’s blog posts on Radical Compliance–JBS, Internal Controls and the FPCA
See Tom’s exploration the FCPA Compliance and Ethics Blog
Part 1-Introduction
Part 2-The Bribery Schemes
Part 3-The SEC Order
Part 4-The Plea Agreement

Categories
Daily Compliance News

October 21, 2020-the Extortion edition


In today’s edition of Daily Compliance News:

  • Exxon says it did not pay bribes to President Trump. (NYT)
  • Goldman to settle for $2.8bn. (WSJ)
  • US sues Google for antitrust violations. (WSJ)
  • Berkshire Hathaway to pay fines for Iran sanctions violations. (YaHooFinance)
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The Affiliated Monitors Expert Podcast

Don Stern on Defense Counsel Working with Monitors


In this episode, I am joined by AMI Managing Director Don Stern. We introduce the concept of defense counsel working with independent monitors. Stern began by noting that traditionally defense lawyers were very wary about getting compliance professionals engaged and involved in assessing a company’s compliance plan in the midst of an investigation. They tended to focus on such criteria when an investigation is active, the overall investigation. Moreover, initially the government wanted companies to wait until an investigation was over before a company would begin to fix things. However, those days have long since passed. Stern said, “at this point, the worst thing that a defense lawyer can do is to sit back, wait for the investigation to complete either their own internal investigation or the government’s investigation and then say to the government, well now we’re going to fix things. I think it’s important to get in there as quickly as possible.”
There are then multiple reasons for defense counsel, whose primary role is to defend an individual or organization. Stern ended by concluding, “the government has become much more sophisticated in assessing compliance programs. It used to be that you can simply present the policies, procedures and some metrics and the prosecutors or the regulators would nod their head and say you’ve got a very good program. But that is not anymore. They want an on the ground assessment as to whether it’s really working and whether people take it seriously.” The bottom line is that the “best way to do that in my view is having a third-party independent come in and do that work.”
Join us in next week where we dive into the weeds by looking at the nuts and bolts of working with a third-party independent monitor.
Find out more about Affiliated Monitors Inc. by checking out their website here.

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¡(H)Ola Compliance!

¡(H)Ola Compliance! Episodio 4: ¿El fin de la corrupción en Brasil…?

Bolsonaro anunció el cierre de lava jato y el fin de corrupción en Brasil. En este episodio de ¡(H)Ola Compliance! Matteson Ellis y Alejandra Montenegro Almonte comparten sus reacciones a los pronunciamientos de Bolsonaro y reflexionan sobre el impacto de lava jato en le región.

Apple Podcasts * Spotify * Amazon Music * Google Podcasts * Stitcher
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!

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Innovation in Compliance

Empowering Adversary Intelligence with Luke Wilson


 
Tom Fox welcomes Luke Wilson to the Innovation In Compliance show. Luke is the Vice President of Intelligence at 4iQ. He has extensive experience in cyber threat analysis and counter-terrorism, having worked with the federal government for many years.  Luke and Tom chat about trending cybersecurity issues in this week’s show.
 

The Adversary Intelligence Company
Tom asks Luke why 4iQ calls itself The Adversary Intelligence Company. Luke responds that their mission at 4iQ is to help their clients defend themselves against bad actors. “We’re here to help you defend yourself from adversaries,” he says. “…We want to help you gather intelligence on those individuals so you can understand their TTPs [tactics, techniques, and procedures], what they’re after, and how to prevent that from happening in the future as well.” He points out that good cybersecurity involves understanding your third-party service providers, including who is supplying data and infrastructure to them.
COVID’s Impact on Cybersecurity
“The impact of the coronavirus health crisis has been that it has accelerated, sometimes exponentially, trends that were already in play,” Tom comments. Luke explains how the pandemic has impacted the cybersecurity space. “It’s the perfect scenario for cybercrime and for cybercriminals to ramp up their attacks,” he remarks. Employees used protected networks at the office, but now that they’re working from home, that basic protection is not available. As a result, there has been an uptick in cybercrime, including ransomware phishing. Luke expects these trends to continue in 2021 and beyond: “I see a continuation of the threats that are out there now. A lot of what’s going on is just a repackaging of what’s been happening for a while now in the cyber threat landscape… I think we’re going to see this going for a very long time until COVID-19 is not the main topic around the world.” 
Luke and Tom discuss the measures the government may take to deal with financial crime. “Whenever you have a massive event like this [COVID-19 federal loans], you can expect that there will be some fraud going on,” Luke says. “But I probably would assess that they’ll put a little bit more stringent criteria on there after what they’ve seen happening now with some of these loans.”
Resources
4iQ.com
4iQ on LinkedIn
COVID-19 Threat Report

Categories
Daily Compliance News

October 20, 2020-the Child Labor edition


In today’s edition of Daily Compliance News:

  • Oil turns to M&A to survive. (NYT)
  • Former Iranian CEO Sentenced for Sanctions Violations. (WSJ)
  • Chocolate and child labor? (WSJ)
  • D&I would add $$$ to US economy. (Houston Chronicle)
Categories
Jamming with Jason

Go From Being One of the Team to Leading the Team with Bruce Turner


I’m talking with my friend Bruce Turner again about his recent book “Team Leader’s Guide to Internal Audit Leadership” in this #jammingwithjason #internalauditpodcast.
The role of #internalaudit team leaders is being reshaped to accommodate the recognition of Chief Audit Executives (CAEs) as trusted advisors within the C-suite. This requires team leaders to transition to a higher level by providing practical, meaningful ideas to optimize internal audit’s value proposition through attuned, balanced, and credible day-to-day audit engagement activities.
His book provides fresh, timely, and higher-level insights on the expanding role of team leaders, and the need for them to deliver internal auditing services on a day-to-day basis that optimize the value proposition for the benefit of internal audit’s stakeholders.
Listen in at: http://www.jasonmefford.com/jammingwithjason/
Bruce Turner, has more than 40 years of practitioner and leadership experience in internal auditing, including being the Chief Audit Executive at several organizations. He has recruited dozens of new auditors into internal audit roles throughout his career and watched proudly as their careers blossomed.
You can find his book on Amazon: https://www.amazon.com/dp/B088YTMHD6/