- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
The key to building a truly forward-facing compliance function is to make it proactive and predictive, visionary, and strategic. And none of that is particularly easy.
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Leading compliance programs more often use technology tools than do their peers, according to the results of PwC’s annual State of Compliance study. These include data analysis tools, dashboards, continuous monitoring, data warehousing, data extraction tools, and a GRC solution.
Bank of America avoided a monetary penalty in agreeing to settle charges with the Treasury Department’s Office of the Comptroller of the Currency but was ordered to shore up previously disclosed deficiencies in its Bank Secrecy Act/anti-money laundering (BSA/AML) and sanctions compliance programs.
McKinsey & Co. will pay $650 million in penalties to the U.S. Department of Justice (DOJ) to settle charges that it advised Purdue Pharma on how to “turbocharge” the sale of Oxycontin in the middle of the U.S. opioid crisis.
