Welcome to the Daily Compliance News. Each day, Tom Fox, the Voice of Compliance brings to you compliance-related stories to start your day. Sit back, enjoy a cup of morning coffee, and listen in to the Daily Compliance News. All, from the Compliance Podcast Network. Each day we consider four stories from the business world, compliance, ethics, risk management, leadership, or general interest for the compliance professional.
Tag: corruption
Welcome to the Daily Compliance News. Each day, Tom Fox, the Voice of Compliance brings to you compliance-related stories to start your day. Sit back, enjoy a cup of morning coffee, and listen in to the Daily Compliance News. All, from the Compliance Podcast Network. Each day we consider four stories from the business world, compliance, ethics, risk management, leadership, or general interest for the compliance professional.
- Grupo Aval settles FCPA enforcement action. (WSJ)
- What does SCt grant of cert mean? (NYT)
- Health care corruption sweep in China. (South China Morning Post)
- SBF headed to jail for witness tampering. Who is next? (Reuters)
Welcome to the Daily Compliance News. Each day, Tom Fox, the Voice of Compliance brings to you compliance-related stories to start your day. Sit back, enjoy a cup of morning coffee, and listen in to the Daily Compliance News. All, from the Compliance Podcast Network. Each day we consider four stories from the business world, compliance, ethics, risk management, leadership, or general interest for the compliance professional.
Welcome to 10 For 10, the podcast which brings you the week’s Top 10 compliance stories in one podcast each week. Tom Fox, the Voice of Compliance brings to you, the compliance professional, the compliance stories you need to be aware of to end your busy week. Sit back, and in 10 minutes hear about the stories every compliance professional should be aware of from the prior week. Every Saturday, 10 For 10 highlights the most important news, insights, and analysis for the compliance professional, all curated by the Voice of Compliance, Tom Fox. Get your weekly filling of compliance stories with 10 for 10, a podcast produced by the Compliance Podcast Network.
- Zelensky warns about corruption. (FT)
- Ukraine tackles corruption. (EuroNews)
- New cyber disclosure rules go into effect. (AP)
- Najib deposed in 1MDB case. (Bloomberg)
- Cognizant investigation not outsourced. (WSJ)
- DWS closes in on settling greenwashing charges. (FT)
- Prosecutors want SBF jailed pre-trial. (WSJ)
- DOJ revamps Crypto enforcement team. (WSJ)
- Altice co-founder denies corruption. (Reuters)
- US consultancies struggle in China after raids. (FT)
You can check out the Daily Compliance News for four curated compliance and ethics related stories each day, here.
Connect with Tom
Welcome to the Daily Compliance News. Each day, Tom Fox, the Voice of Compliance brings to you compliance-related stories to start your day. Sit back, enjoy a cup of morning coffee, and listen in to the Daily Compliance News. All, from the Compliance Podcast Network. Each day we consider four stories from the business world, compliance, ethics, risk management, leadership, or general interest for the compliance professional.
- Panama ex-President sentenced for corruption. (Reuters)
- Sri Lanka passes ABC bill. (AL Jazeera)
- How do you determine if someone will be a good CEO. (FT)
- Deutsche Bank fined yet again for AML failures. (NYT)
Welcome to the Daily Compliance News. Each day, Tom Fox, the Voice of Compliance brings to you compliance-related stories to start your day. Sit back, enjoy a cup of morning coffee, and listen to the Daily Compliance News. All, from the Compliance Podcast Network. Each day we consider four stories from the business world, compliance, ethics, risk management, leadership, or general interest for the compliance professional.
- Lisa Osofsky issues her final SFO report. (WSJ)
- Teens take on corruption in Nigeria. (Teen Vogue)
- The US gives new anti-trust guidance. (FT)
- The US blacklists two spyware firms. (NYT)
What happens when two top compliance commentators get together? They talk compliance of course. Join Tom Fox and Kristy Grant-Hart in 2 Gurus Talk Compliance as they discuss the latest compliance issues in this week’s episode! This week on the podcast, we discussed a variety of financial fraud and corruption cases that have recently come to light. From Bank of America’s creation of millions of fake accounts to KPMG getting caught cheating in the Netherlands, these cases serve as a reminder to the importance of strong compliance programs and the need for companies to be proactive in preventing fraud. Additionally, the DOJ is utilizing data analytics to enhance their ability to prosecute FCPA cases, while Women in Compliance work to empower and support female professionals in the industry. Finally, the Florida Man Scam highlights the need to be aware of the potential for scams and to exercise caution when giving out personal information.
Highlights Include
· Bank of America Scandal
· Navex Survey
· Corruption in Singapore
· KPMG Cheating Scandal
· Kenneth Polite Reflects
· Lisa Osofsky Reflects
· Women in Compliance
· Florida Man Should Stay in FL
· Contracts and Emojis
Resources
- WSJ Risk and Compliance Journal
- FCPA Blog
- Radical Compliance
- Dutch News
- WSJ Risk and Compliance Journal
- DOJ Press Release
- 2023 Navex Survey
- Reuters
- Compliance Week
- BBC
Connect with Kristy Grant-Hart on LinkedIn
Tom
The award-winning, Compliance into the Weeds is the only weekly podcast that takes a deep dive into a compliance-related topic, literally going into the weeds to explore a subject and looking for some hard-hitting insights on sanctions compliance. Look no further than Compliance into the Weeds! In this episode, Tom and Matt take up the recent CFTC enforcement action involving Bank of America.
In yet another reminder of the importance of ethical practices within the banking industry, Bank of America recently faced civil charges for misconduct, including a junk fees scheme and opening credit cards for customers without their authorization. This follows in the footsteps of similar misconduct from Wells Fargo in the mid-2010s, which resulted in a hefty $185 million fine. To address the issue, Bank of America has agreed to discontinue its flawed incentive program and develop a compliance plan within 90 days. Banks must remain vigilant in their compliance efforts, capture customer consent and documentation, and have data analytics capabilities, or risk similar fines. Furthermore, this penalty emphasizes the need for banks to keep their practices updated with regulations.
Key Highlights
· Facts of enforcement action
· BOA penalty
· BOA remediation
· Comparisons to Wells Fargo
· Banks behaving badly
Resources:
Matt Kelly
Blog Post in Radical Compliance
Tom Fox
Welcome to the Daily Compliance News. Each day, Tom Fox, the Voice of Compliance brings to you compliance-related stories to start your day. Sit back, enjoy a cup of morning coffee, and listen in to the Daily Compliance News. All, from the Compliance Podcast Network. Each day we consider four stories from the business world, compliance, ethics, risk management, leadership, or general interest for the compliance professional.
Welcome to 10 For 10, the podcast which brings you the week’s Top 10 compliance stories in one podcast each week. Tom Fox, the Voice of Compliance brings to you, the compliance professional, the compliance stories you need to be aware of to end your busy week. Sit back, and in 10 minutes hear about the stories every compliance professional should be aware of from the prior week. Every Saturday, 10 For 10 highlights the most important news, insights, and analysis for the compliance professional, all curated by the Voice of Compliance, Tom Fox. Get your weekly filling of compliance stories with 10 for 10, a podcast produced by the Compliance Podcast Network.
· EU-US agree on data sharing pact. (NYT)
· Max Schrems slams back, vows legal challenge. (Reuters)
· Labor Party to back global ABC court. (The Guardian)
· Chinese ABC probe moves to advanced stage. (FT)
· Did a sheriff’s corruption lead to a mass shooting? (Houston Chronicle)
· Is your company investing in China? (NYT)
· Alleged fraudster said customers devised the fraud. (FT)
· UK AML regime ‘not fit for purpose’. (FT)
· BOA has its own fake accounts scandal. (Radical Compliance)
· Merrill Lynch to pay $12MM fine for failure to report. (WSJ)
You can check out the Daily Compliance News for four curated compliance and ethics related stories each day, here.
Connect with Tom