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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aly McDevitt2020-09-14T13:00:00
While managing the coronavirus outbreak on Diamond Princess in Asia, Carnival received more bad news: The virus had infected Grand Princess off the West Coast of the United States.
Grand Princess set sail on a round-trip itinerary to Mexico on Feb. 11 and to Hawaii on Feb. 21, with many of the same crew and 68 of the same passengers aboard both voyages. On March 4, California health officials reported the COVID-19-related death of a passenger from the former voyage. Princess confirmed an outbreak aboard the subsequent trip 48 hours later. The ship remained about 50 miles off the coast of San Francisco for three days, and disembarkation began in the port of Oakland on March 9.
In the span of two weeks from Compliance Week’s visit to Carnival headquarters, the number of COVID-19 cases outside of China had increased 13-fold. The number of infected countries had tripled.
On March 11, the World Health Organization (WHO) declared a pandemic.
The cruise industry changed quickly after that.
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2024-07-02T13:50:00Z By Aaron Nicodemus
Crypto-friendly Silvergate Bank will pay a total of $63 million penalties to California and the Federal Reserve Board to settle charges that its anti-money laundering program failed to properly monitor more than $1 trillion worth of customer transactions.
2024-07-01T15:58:00Z By Aaron Nicodemus
Jamaica and Türkiye made “significant progress” addressing deficiencies in their anti-money laundering/countering the financing of terrorism (AML/CFT) programs, warranting their removal from the Financial Action Task Force’s grey list.
2024-07-01T15:45:00Z By Margaret Holmes Tibbets, CW guest columnist
Margaret Holmes Tibbets, chief compliance officer at financial technology company Pipe, explains how firms are facing an existential compliance crisis, and to survive they’ll need to overcome not one but two hurdles.
2024-03-21T16:00:00Z By Aly McDevitt
Both JPMorgan Chase and Deutsche Bank retained their respective Jeffrey Epstein relationships for too long. Yet, there is a case to be made for why exiting a high-risk relationship too soon can become an inverse form of recklessness.
2024-03-20T16:00:00Z By Aly McDevitt
Why did JPMorgan Chase retain Jeffrey Epstein for more than a dozen years? How did the relationship persist despite glaring red flags? The “why” is straightforward; the “how” is more complicated.
2024-03-19T16:00:00Z By Aly McDevitt
Jeffrey Epstein’s designation as a high-risk client should have subjected him to enhanced due diligence that never appeared to occur, most notably at Deutsche Bank. Instead, Epstein was allowed to continue his misconduct despite numerous red flags.
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