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 Lisa Beth Lentini Walker. We visit about her panel at Converge20 on Bypassing burnout: Maximize your ethical impact, grow your career, and empower your team.
Lisa Beth is the CEO & Founder, Lumen Worldwide Endeavors. In 2020, compliance teams are a significant value driver for their companies—but our impact doesn’t have to stop at the borders of our office; better, more ethical business practices benefit our communities and society at large. But that’s a heavy burden to carry and Lisa Beth has strategies for you. For more registration and information on Converge20, click here.
As the ICIJ releases some 2100 SARs from FinCen detailing over $2 trillion in illegal banking activity, the fires in California, Oregon and Washington finally abate. Tom and Jay are back to look at top compliance articles and stories which caught their eye this week.
- The FinCen Papers. Banks and SARs. (NYT) HSBC allowed Ponzi scheme. (BBC) Cache of FinCen docs made public. (BBC) Aaron Nicodemus says it puts compliance in a bad light in Compliance Week (Sub Req’d). Martin Woods on the breach of trust in Compliance Week (Sub Req’d). Jaclyn Jaeger says look at the banks, In Compliance Week (Sub req’d). Matt Kelly weighs in on Radical Compliance.
- More data analytics tools for compliance. Dylan Tokar in the WSJ Risk and Compliance Journal.
- What makes a ‘Great Woman in Compliance’. Mary Shirley reports on her journey as co-host of #GWIC in CCI.
- What does doing more with less mean for compliance? Matthew McFillin and Amanda Rigby in the FCPA Blog.
- What are the 7 sins of ESG Management? FTI in the Harvard Law School Forum on Corporate Governance.
- The largest AML case in Hong Kong history. Jon Rausch in Dipping Through Geometries.
- Oil trader cops to FCPA violation. Harry Cassin breaks the story on the FCPA Blog
- Why the Board needs a separate Compliance Committee. Mike Volkov in Corruption Crime and Compliance.
- This month on The Compliance Life, I am joined by DeAnna Nwankwo. In this week’s Part 3, DeAnna talks about building trust as a CCO.
- On the Compliance Podcast Network, on 31 Days to a More Effective Compliance Program, this month focuses on internal controls. This week saw the following offerings: Monday– Objective I; Tuesday– Objective II;Wednesday– Objective III; Thursday– Objective IV; and Friday– Objective 5. Note 31 Days to a More Effective Compliance Program now has its own iTunes channel. If you want to binge out and listen to only these episodes, click here.
- Join Jay and Tom at Converge20. Convercent’s top compliance conference is going virtual this year. Check at the agenda and register here.
- Join K2 Intelligence FIN, on September 30 for a webinar with the AIBACP, “Strategies for Surviving an Offsite Regulatory Examination,” featuring Koby Bambilia, K2 FIN Managing Director, and a panel of experts, from banks to regulators. Registration and information here.
Tom Fox is the Compliance Evangelist and can be reached at tfox@tfoxlaw.com. Jay Rosen is Mr. Monitor and can be reached at jrosen@affiliatedmonitors.com.
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.