- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Neil Hodge2024-03-11T12:47:00
When the new director of the Serious Fraud Office (SFO) said in his maiden speech he favored paying whistleblowers in exchange for information, he might not have been fully aware of the implications.
Nick Ephgrave said financially incentivizing whistleblowers had “many benefits,” adding the United Kingdom has “fantastic legislation” allowing the SFO and other agencies to encourage assisting offenders to help progress large investigations quicker.
The problem, he said, is the country seems reluctant culturally to use the tools at its disposal.
THIS IS MEMBERS-ONLY CONTENT. To continue reading, choose one of the options below.
News and analysis for the well-informed compliance or audit exec. Select an option and click continue.
Annual Membership $499 Value offer
Full price one year membership with auto-renewal.
Membership $599
One-year only, no auto-renewal.
Staffing shortages that have plagued the U.K. Serious Fraud Office are trending in the right direction since its new director took charge, with the anti-bribery agency forging ahead with initiatives to ensure its future sustainability.
The U.K. Serious Fraud Office last month published its five-year strategic plan outlining how it intends to improve information gathering and international cooperation, as well as its enforcement record.
Compliance Week Advisory Board members Eric Young and Ellen Hunt participate in a debate-style discussion regarding whistleblower-related topics including culture of compliance, monetary incentives, retaliation, and more.
The Consumer Financial Protection Bureau has issued a proposed rule aimed at protecting the privacy of the public when using novel digital payment systems, such as those offered by large technology platforms and video gaming companies.
Banks and other lenders will be prohibited from using medical debt information in credit reports, under a new rule finalized by the Consumer Financial Protection Bureau, the agency said.
New rules on cyber risk management across the EU put execs firmly in the crosshairs for noncompliance and are likely to apply to a wider range of organizations than many business leaders may initially think. However, there are also concerns that the rules may become muddled across the wide bloc. ...
