- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Kyle Brasseur2023-07-12T12:36:00
The United States is one of few leaders in the anti-corruption enforcement space but still must reckon with its role as a top facilitator of financial crime, according to the executive director at the U.S. office of anti-corruption organization Transparency International.
Gary Kalman said during his keynote address at Compliance Week’s Third-Party Risk Management Summit in Atlanta that the United States “must have some ownership of our role in facilitating global corruption.” He cited Treasury Secretary Janet Yellen, who has acknowledged in public speeches “there’s a good argument that, right now, the best place to hide and launder ill-gotten gains is actually the United States.”
“She didn’t mean that we’re doing a bad job, but that there are gaps in our regulatory system that make it very hard for those of us trying to fight illicit finance to actually do our jobs,” said Kalman.
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2023-12-19T19:14:00Z By Kyle Brasseur
A package of seven legislative proposals put forward by the Biden administration would enhance the capabilities of the Department of Justice to bring money laundering and racketeering charges related to corruption, according to a senior agency official.
2023-09-27T20:13:00Z By Kyle Brasseur
The Financial Crimes Enforcement Network announced a notice of proposed rulemaking to extend the deadline for companies created or registered in 2024 to file their initial beneficial ownership information reports.
2023-09-18T18:49:00Z By Kyle Brasseur
Nearly three months from the effective date of its beneficial ownership reporting rule, the Financial Crimes Enforcement Network released guidance for small businesses to determine whether they must comply and what information they might be required to provide.
2025-01-28T15:35:00Z By Aaron Nicodemus
Maria Aristidou Demetriou, chief compliance officer at Cyprus-based Hellenic Bank, spoke to Compliance Week about derisking in the Cypriot banking sector since Russian’s invasion of Ukraine and efforts to combat corruption, money laundering, and sanctions evasion.
2024-06-03T18:48:00Z By Aaron Nicodemus
Swedish telecommunications giant Ericsson announced the conclusion of the independent compliance monitorship imposed on the company following its 2019 settlement for violations of the Foreign Corrupt Practices Act.
2024-04-04T00:41:00Z By Aaron Nicodemus
Former Albemarle CCO Andrew McBride explained at Compliance Week’s 2024 National Conference how he led the company’s compliance department to remediate the issues that led to apparent FCPA violations and how the team used data analytics to assess risks and implement compliance solutions.
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