Tag: Wirecard

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10 For 10

10 For 10: Top Compliance Stories For The Week Ending April 13, 2024

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 compliance professionals, 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.

1. EY is still under fire for Wirecard imbroglio.  (FT)

2. The former Cognizant executives trial moved yet again. (Law360)

3. US to crack down on UFLPA loophole. (WSJ)

4. Yet another Boeing whistleblower allegation. (NYT)

5. The US agrees to the Menendez trial postponement. (Reuters)

6. The imprisoned Binance Director denies the AML charge. (BBC)

7. Was Wirecard a Russian spy operation?  (FT)

8. A Vietnamese property tycoon was sentenced to death for fraud.  (FT)

9. Zuma is back on the ballot in South Africa. (Bloomberg)

10. More trouble for Boeing executives. (WSJ)

For more information on the Ethico ROI Calculator and a free White Paper on the ROI of Compliance, click here.

You can check out the Daily Compliance News for four curated compliance and ethics related stories each day, here.

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Daily Compliance News

Daily Compliance News: April 9, 2024 – The 3 Body Problem Edition

Welcome to the Daily Compliance News. Each day, Tom Fox, the Voice of Compliance, brings 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.

In today’s edition of Daily Compliance News:

  • Chinese object to the Netflix version of 3 Bodies. (NYT)
  • South Africa risks staying on the dirty money list. (Bloomberg)
  • There is more corruption in Kenya. (VoA)
  • Was Wirecard a Russian spy operation?  (FT)

For more information on the Ethico ROI Calculator and a free White Paper on the ROI of Compliance, click here.

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Daily Compliance News

Daily Compliance News: April 8, 2024 – The Eclipse Edition

Welcome to the Daily Compliance News. Each day, Tom Fox, the Voice of Compliance, brings you compliance-related stories to start your day. Sit back, enjoy 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.

  • EY is still under fire for Wirecard imbroglio.  (FT)
  • The former Cognizant executive’s trial moved yet again. (Law360)
  • Huawei’s trial moved yet again. (WSJ)
  • US to crack down on the UFLPA loophole. (WSJ)

Click here: https://pages.ethico.com/cpn for more information on the Ethico ROI Calculator and a free White Paper on the ROI of Compliance.

Connect with the Compliance Podcast Network at:

LinkedIn: https://www.linkedin.com/company/compliance-podcast-network/
Facebook: https://www.facebook.com/compliancepodcastnetwork/
YouTube: https://www.youtube.com/@CompliancePodcastNetwork
Twitter: https://twitter.com/tfoxlaw
Instagram: https://www.instagram.com/voiceofcompliance/
Website: https://compliancepodcastnetwork.net/

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10 For 10

10 For 10: Top Compliance Stories For The Week Ending December 16, 2023

Welcome to 10 For 10, the podcast that 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.

  • Former Wirecard CFO criminally charged. (FT)
  • Ex-Bank of China mgr jailed for life. (Bloomberg)
  • Freepoint settles charges over years-long bribery scheme. (Reuters)
  • Former BP CEO docked $40M for ‘serious misconduct’. (WSJ)
  • Top DOJ says it’s not soft on corporate crime. (WSJ)
  • The State Department aids in the fight against corruption. (DoS Press Release)
  • The Pope says to be merciful on Vatican corruption. (The Pillar)
  • The US has a new anti-extortion bill. (Transparency International)
  • Musk was compelled to testify in the SEC probe. (Reuters)

You can check out the Daily Compliance News for four curated compliance and ethics-related stories each day, here.

Connect with Tom 

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Daily Compliance News

Daily Compliance News: December 15, 2023 – The Wirecard Redux Edition

Welcome to the Daily Compliance News. Each day, Tom Fox, the Voice of Compliance, brings 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.

Stories we are following in today’s edition:

  • Was the former Wirecard COO a Russian spy? (WSJ)
  • A former Wirecard CFO was criminally charged. (FT)
  • An ex-Bank of China manager was jailed for life. (Bloomberg)
  • Freepoint settles charges over a years-long bribery scheme. (Reuters)
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Daily Compliance News

Daily Compliance News: June 10, 2023 – The Don’t Want No Stinking Compliance Edition

Welcome to the Daily Compliance News. Each day, Tom Fox, the Voice of Compliance, brings 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.

Stories we are following in today’s edition:

  • The corruption in belts and suspenders. (WSJ)
  • Alleged Texas AG bribe payor arrested. (Bloomberg)
  • Short seller as due diligence guru. (FCPA Blog)
  • You don’t need any stinking compliance. (FT)
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The Wirecard Saga

The Wirecard Saga – Episode 40 – Phoning It In

Welcome to Season 3 of Lies, Spies & Corporate Crimes: The Wirecard Saga. The Wirecard Saga has become the world’s leading source of all things Wirecard. In The Wirecard Saga, Lies, Spies & Corporate Crimes, host Mikhail Reider-Gordon, Managing Director of Institutional Ethics & Integrity at Affiliated Monitors, looks at the biggest financial scandal in post-war Germany from a variety of angles.

In the latest episode of “The Wirecard Saga,” hosted by Mikhail Reider-Gordon, the discussion heats up as they delve into the recent developments surrounding the scandal. They highlight the minimal penalty imposed on EY, which failed to take adequate action, leading to the multi-billion-dollar corporate collapse of Wirecard, affecting stakeholders at various levels. She also discusses ongoing legal proceedings, including the upcoming proceedings and the role of KPMG’s forensic audit team during the scandal. The lack of importance given to compliance at Wirecard is also spotlighted, despite the formation of a formal compliance department. The podcast raises questions about how many missed opportunities there were to identify the fraud and why Wirecard employees didn’t take action to prevent it.

Mikhail will explore more unethical and illegal behavior, new entities highlighted through the lawsuit, and criminal charges filed against in Austria in next week’s episode. Take advantage of this exciting and informative podcast! Listen now and join the discussion.

Key Highlights:

  • Request for Courch Change from Apas
  • KaMuG Test Case
  • IAASA Assesses Penalties for Bad WUKI Audits
  • Professional Scepticism and Balance Confirmations
  • FRC Enforcement
  • KPMG Kept in the Dark
  • Two Out of 5000
  • Compliance Department of One
  • Lack of Interest in Compliance and Law
  • Sending Millions By Phone
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Daily Compliance News

April 4, 2023 – The Is FL Anti-Business Edition

Welcome to the Daily Compliance News. Each day, Tom Fox, the Voice of Compliance, brings 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.

Stories we are following in today’s edition of Daily Compliance News:

·       Disney President says Florida under DeSantis is ‘anti-business.’ (WSJ)

·       Venezuela detains 44 more in a corruption probe. (Al Jazeera)

·       EY banned in Germany over Wirecard. (FT)

·       Italians wave good-bye to ChatGPT. (ComplianceWeek)

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Daily Compliance News

March 20, 2023 – The Alfred E. Newman Edition

Welcome to the Daily Compliance News. Each day, Tom Fox, the Voice of Compliance, brings 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.

Stories we are following in today’s edition of Daily Compliance News:

  • UBS to buy Credit Suisse. (FT)
  • Crisis, what crisis? (FT)
  • O’Sullivan linked to Wirecard. (FT)
  • Does mattering matter? (FT)
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Wirecard

Season 3, Episode 39 – Coming off the Rails

Welcome to Season 3 of Lies, Spies & Corporate Crimes: The Wirecard Saga. The Wirecard Saga has become the world’s leading source of all things Wirecard. In The Wirecard Saga, Lies, Spies & Corporate Crimes, host Mikhail Reider-Gordon, Managing Director of Institutional Ethics & Integrity at Affiliated Monitors, looks at the biggest financial scandal in post-war Germany from a variety of angles. In this episode, our host analyses the series of events connected to the company’s downfall and follows the trial dates and the Singaporean Police Force’s investigation. In addition, the podcast examines other entities connected to the Wirecard scandal, including the German Ministry of Defense. Tune in to The Wirecard Saga for all the latest updates!

Key Highlights

  • Trial dates set in Singapore
  • Why won’t Germany take up Singapore’s offer?
  • Braun as Captain of the Titanic
  • He’s not a joiner
  • Second-guessing CEO’s decisions
  • Judge Frodisch just can’t understand
  • TPA’s were firewalls
  • CEO of only some departments
  • Another loan to an off-shore entity
  • EY gets pulled back in
  • Wirecard Card Solutions’ legacy
  • PayRNet and RailsR ‘historic’ problem
  • Lietuvos Bankas says PayRNet engaged in gross TF
  • From Bad to Worse
  • Procurement Corruption
  • 4Strat and the Austrian-Russian connection

Notable Quotes

1.     “I have never been a gang member or even their leader. I had no personal relationship with any of these people.”

2.     “I didn’t believe for a single second that the business wasn’t there.” “We said very clearly, we regard the third-party partners as an intermediate step. The TPA is reviewed as a form of firewall, essentially, intercessors who create a distance between Wirecard and dealers, a layer that appears to reduce risk.”

3.     “I am convinced that the business existed, but significant parts did not flow into the escrow account.”

4.     “You couldn’t run everything, the Wirecard Bank. And remember, all those illicit card charges needed to be recorded to get past Visa, Mastercard, Wirecard, and Amex. And the intermediary banks, don’t forget them. There were a lot of moving parts.”