All Risk Management articles – Page 86
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ArticleRare OIG Special Fraud Alert cautions the use of speaker programs
In a rare move, the U.S. Department of Health and Human Services’ Office of Inspector General issued a Special Fraud Alert warning of inherent fraud and abuse risks associated with speaker programs.
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ArticleBiden will tread carefully on sanctions, seek international consensus, experts say
Experts believe President-elect Joe Biden will likely take his time before making big moves to unwind the dizzying array of sanctions levied by his predecessor, President Donald Trump.
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ArticleOCIE director’s warning: Insufficient CCO support won’t fly
In a year turned upside down by the coronavirus pandemic, one thing hasn’t changed in the eyes of the SEC: The best compliance programs are supported by senior management and have adequate staffing, technology, and training.
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Article2020 TRACE Bribery Matrix: U.S. falls from top 20; China on the rise
TRACE International’s 2020 Bribery Risk Matrix has the United States trending downward in multiple areas of business-related bribery risk.
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ResourceSurvey Report: The benefits of centralizing and automating entity management
This report from Compliance Week and Diligent explores results from the recent survey, “Automated entity management greatly reduces compliance risk.”
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ArticleCryptocurrency’s future: What compliance needs to know
Cryptocurrency is complicated, but it’s not going away anytime soon. David Povey of the ICA takes a look at what regulators are trying to do and offers tips on where compliance officers can go to study this complex topic further.
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Article
ICA partnership offers AML education in Lithuania
The International Compliance Association announced a partnership with Kazimieras Simonavičius University in Lithuania to offer the ICA’s full suite of professional qualifications.
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ArticleSurvey: Machine learning will (eventually) help win the war against financial crime
While the war against financial crime wages on, machine learning and artificial intelligence may give financial institutions the upper hand, according to a recent survey.
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ArticleU.K. eyes history with climate change disclosure plan package
Financial services firms in the United Kingdom must soon begin reporting what material financial impact they experience from climate change under a new disclosure mandate that is the first of its kind in the world.
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ArticleVolkswagen CCO Kurt Michels: Tips for surviving a monitorship
Fresh off his company’s compliance monitorship, Volkswagen CCO Kurt Michels shares ways to cultivate a trustful relationship with a monitor; finesse a company’s cultural makeover; and reestablish credibility in the wake of criminal behavior.
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ArticleGuidance for safe data transfers post-Privacy Shield
The European Data Protection Board has issued guidance to help companies transfer data to the United States and other third countries safely after Europe’s top court in July ruled key methods used up until then were either invalid or unsafe.
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ArticleU.K. watchdog seeks disclosures on COVID-19, climate change
COVID-19 and its impact on operations and the bottom line tops the Financial Reporting Council’s list of what it wants to see in company reports for 2021.
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ArticleMore data, more problems with FinCEN international transfer proposal?
A recent international wire transfer rule change proposed by U.S. regulators could go a long way toward combatting terrorist financing, but the increased transaction reporting may overwhelm an already taxed system, writes Martin Woods.
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ArticleCOSO report: Elevating compliance leads to more informed decision-making
Many compliance departments are not independent, but instead report to other departments. COSO recommends compliance be separated out into its own division, led by a chief compliance officer with an executive-level position.
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ArticleOCC report: Banks sound, but compliance risks elevated amid pandemic
The U.S. banking industry is stable nearly nine months into the coronavirus pandemic, but the OCC warns of increased risks for banks seeking to comply with the Bank Secrecy Act and consumer protection and fair lending requirements.
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ArticleVW integrity chief: Culture has changed … and we have stress test to prove it
In a Q&A with Compliance Week, Volkswagen integrity chief Hiltrud Werner said that while compliance efforts “never have a finish line,” the company has made great strides since Dieselgate.
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ArticleAudit committee best practices for understanding and acting on cyber-threats
Cyber-security risk oversight is the area with the greatest increase in audit committee disclosures in proxy statements, so you better make sure you’ve got a handle on understanding your responsibilities.
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ArticleCitigroup chief risk officer to depart amid risk management overhaul
The chief risk officer at Citigroup is set to depart from his role in the wake of a $400 million enforcement action that ordered the firm to overhaul its risk management and compliance programs.
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ArticleEmerging state board diversity laws encourage proactive approach
As more states enact statutes that directly address diversity in the boardroom, corporate boards that have not already done so would be wise to begin strategizing their diversity efforts now.
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ArticleWorking together to stop money laundering: A conversation with Marcus Pleyer
Dr. Marcus Pleyer, president of the Financial Action Task Force, emphasized his commitment to stopping money laundering in a wide-ranging and forward-looking discussion at the ICA’s BIG Compliance Festival.