Top Stories

Working with AI

Premium

Responsible use cases exist for generative AI in compliance—if you plan carefully

2023-06-06T12:00:00+01:00By

The possibilities for productive use of generative AI are alluring, compliance professionals say. But harnessing the technology in an ethical and compliant manner requires thorough risk assessment.

Cultivating culture panel CW2023

Premium

Culture goals: ‘Get out of the squishiness and into something measurable’

2023-06-02T17:46:00+01:00By

Organizations must move beyond abstract theory and truly measure their compliance culture, a panel of experts discussed during Compliance Week’s 2023 National Conference.

CW Surveys

morgan lewis300x200

Survey: Anti-bribery and corruption benchmarking

Provided by Morgan Lewis

The Anti-Bribery and Corruption Benchmarking report strives to give compliance practitioners insights into bribery and corruption challenges facing them in today’s corporate world.

avetta300x200

Strengthening your supply chain defenses: A cybersecurity survey

Provided by Avetta

By participating in this survey, you’ll help us gain insight into the current state of supply chain cybersecurity and identify best practices for protecting your organization from cyber threats.

2023 Excellence in Compliance Awards

Bill Burtis EIC 2023

Article

Great connector Bill Burtis celebrated by colleagues as CCO of the Year

2023-05-15T16:00:00+01:00By

Bill Burtis, affable chief compliance officer of networking and cybersecurity solutions company Juniper Networks, was named CCO of the Year at the 2023 Excellence in Compliance Awards.

Amex GBT EIC 2023

Article

Amex GBT navigates tricky 2022 to win Compliance Program of the Year

2023-05-15T16:00:00+01:00By

Going public, sanctions, a key merger. For its navigating a series of competing compliance challenges while maintaining trust with clients and travelers, American Express Global Business Travel was honored as Compliance Program of the Year at the 2023 Excellence in Compliance Awards.

Partner Content

onetrust 2022 300x200

Foster a Culture of Ethical Behavior

Provided by

Strengthen your ability to monitor, create, and maintain a culture of trust where your team can thrive.

Data and Research

  • Survey: Compliance tech priorities focused on TPRM in 2023

  • Case study: How Flex helps drive sustainability beyond its walls

  • Survey: Tech key to compliance in changing data privacy landscape

  • Survey: Cybersecurity, regulatory risks lead TPRM priorities in 2023

  • CW case study offers 360-degree view of ransomware attack

  • Survey: Measuring the impact of code of conduct training

  • Inside the Mind of the CCO, Year 4

  • Survey: How businesses are confronting governmental licenses in M&As

More from Compliance Week

DOJ building

News Brief

Tenet-affiliated health systems to pay $30M in DOJ kickback case

2023-06-02T19:18:00+01:00By

Tenet Healthcare, Vanguard Health Systems, and the Detroit Medical Center agreed to pay $29.7 million as part of a settlement with the Department of Justice addressing allegations they provided kickbacks to doctors who made referrals to their health organizations.

LinkedIn

News Brief

Microsoft reserves $425M for LinkedIn GDPR penalty

2023-06-02T15:43:00+01:00By

Microsoft will reserve $425 million to pay a potential fine from the Irish Data Protection Commission regarding alleged violations of the General Data Protection Regulation by its social media subsidiary, LinkedIn.

Amazon Alexa

News Brief

FTC orders Amazon pay $30M for alleged Alexa, Ring privacy violations

2023-06-01T20:34:00+01:00By

Amazon is set to pay more than $30 million comprised of a civil penalty and consumer refunds to resolve two separate cases alleging privacy violations regarding its Alexa voice assistant service and Ring doorbell subsidiary.

Employee compensation

Premium

CCO compensation survey: Big gains for energy, healthcare

2023-06-01T18:29:00+01:00By

Annual total compensation for chief compliance officers rose 10 percent in 2022, according to the latest compensation survey by executive search firm BarkerGilmore.

Risk assessment panel CW2023

Premium

Risk assessment fundamentals: Flexibility, accountability, more

2023-06-01T18:08:00+01:00By

Tailoring your risk assessments to guidance from your relevant regulators is a good idea, a panel of compliance practitioners speaking at Compliance Week’s 2023 National Conference agreed. But it certainly isn’t the place to start.

GDPR gears

Premium

Five years of GDPR: Experts forecast changes to come for landmark privacy law

2023-06-01T14:41:00+01:00By

The fifth anniversary of the European Union’s General Data Protection Regulation coming into force has highlighted the many successes of the legislation but also exposed areas where the law is still untested and unclear.

Crown_Resorts_Web

News Brief

Crown Resorts agrees to pay $292M over AML/CFT violations

2023-05-31T19:17:00+01:00By

Crown Resorts agreed to pay 450 million Australian dollars (U.S. $292 million) and overhaul its anti-money laundering and combating the financing of terrorism compliance controls for repeatedly violating Australia’s AML/CFT law.

Wells Fargo NY

News Brief

Ex-Wells Fargo exec to pay $5M in SEC settlement over fake accounts

2023-05-31T17:55:00+01:00By

Carrie Tolstedt, the former head of Wells Fargo’s community bank, agreed to pay nearly $5 million to settle charges levied by the Securities and Exchange Commission related to the bank’s fake account scandal.

Crisis panel CW2023

Premium

Avoiding the echo chamber: CCO among ‘crucial’ roles in crisis response

2023-05-31T17:00:00+01:00By

Businesses can be well prepared to manage a crisis by having continuity among stakeholders and avoiding leakage of privileged information to prevent conflict, a panel of legal and compliance experts shared at Compliance Week’s 2023 National Conference.

SEC

News Brief

Former SEC Chair Harvey Pitt dead at 78

2023-05-31T16:57:00+01:00By Compliance Week

Harvey Pitt, the former chairman of the Securities and Exchange Commission and an inaugural Compliance Week columnist, died. He was 78 years old.

Culture panel CW2023

Premium

CW2023 panel: Taking on the corporate culture monster

2023-05-31T13:06:00+01:00By

A trio of panelists offered a framework and strategy for embedding ethical culture into organizations at Compliance Week’s 2023 National Conference.

Eric Choy CW2023

Premium

CW2023: CBP official on early impact of Uyghur forced labor law

2023-05-30T19:28:00+01:00By

Customs agents have flagged thousands of products marked as made in Malaysia, Vietnam, or elsewhere in accordance with the UFLPA, an official from U.S. Customs and Border Protection shared during a panel at Compliance Week’s 2023 National Conference.

Gartner

News Brief

Gartner to pay $2.5M to settle alleged FCPA violations in South Africa

2023-05-30T17:30:00+01:00By

Gartner agreed to pay nearly $2.5 million as part of a settlement with the Securities and Exchange Commission addressing alleged violations of the Foreign Corrupt Practices Act in South Africa.

Compliance and HR CW2023

Premium

‘Elephant in the room’: Combating tension between compliance, HR

2023-05-30T15:10:00+01:00By

Regulators are collaborating—both domestically and internationally—more than ever before. And they expect companies to be doing the same, noted panelists during a session on collaboration between compliance and human resources at Compliance Week’s 2023 National Conference.

DOJ

Premium

Supreme Court once again strikes blow to DOJ’s fraud theories

2023-05-30T13:00:00+01:00By

A pair of unanimous Supreme Court decisions handed down earlier this month are the latest in a string of cases in which it has expressed concerns about government overreach regarding anti-corruption enforcement and wire fraud statutes.

Meta building

Premium

Record Meta fine brings wider GDPR ramifications for EU-U.S. data transfers

2023-05-26T16:21:00+01:00By

Meta’s latest punishment for breaching the European Union’s General Data Protection Regulation will have far-reaching ramifications for companies both in Europe and beyond.

OCC

News Brief

OCC pledges harder stance on banks that allow weaknesses to fester

2023-05-26T14:42:00+01:00By

The Office of the Comptroller of the Currency could require large banks to take substantial actions to address persistent weaknesses, including restricting their growth or forcing them to divest from risky ventures.

ask cco 3x2 may 20236

Premium

Ask a CCO: Importance of data analytics, AI over next 5 years

2023-05-26T13:00:00+01:00By Compliance Week

Six senior compliance practitioners forecast the impact advances in data analytics and artificial intelligence will have in their future compliance efforts.

Amy Schuh CW2023

Premium

‘Be comfortable with being uncomfortable’: Compliance vets share career advice at CW2023

2023-05-26T12:45:00+01:00By

Experienced compliance professionals offered career advice and tips for building trust between compliance and the C-suite during a panel discussion at Compliance Week’s 2023 National Conference.

DOJ

News Brief

Polite: Voluntary self-disclosure rising since DOJ policy changes

2023-05-25T19:28:00+01:00By

The Department of Justice has seen an uptick in self-reported potential misconduct by corporations since it increased incentives for voluntary disclosure, according to Assistant Attorney General Kenneth Polite Jr.

GDPR_gavel

Premium

Five years in, GDPR still a lightning rod for criticism

2023-05-25T18:04:00+01:00By

The General Data Protection Regulation risks losing credibility if enforcement is not harmonized and privacy by design is not at the heart of tech innovation, said EU officials during a summit marking the fifth anniversary of the legislation.

OneMain Financial

News Brief

OneMain Financial fined $4.25M in NYDFS cybersecurity case

2023-05-25T17:16:00+01:00By

Mortgage servicer OneMain Financial Group will pay $4.25 million to settle allegations it left customer information vulnerable to cyberattacks by failing to implement required controls under New York’s cybersecurity law.

ask cco 3x2 may 20235

Premium

Ask a CCO: Pressing pain point in working with data for compliance

2023-05-25T13:00:00+01:00By Compliance Week

Six senior compliance practitioners disclose hurdles their respective departments have faced in utilizing data for compliance purposes.

From Training to Learning

Premium

How ‘Star Wars’ references in E&C training can help employees avoid the dark side

2023-05-25T12:00:00+01:00By

Compliance practitioners learned how to become ethical Jedi masters during a panel discussion on integrating pop culture into training at Compliance Week’s 2023 National Conference.

Social media

News Brief

Surgeon general joins call to enhance children’s online privacy

2023-05-24T19:23:00+01:00By

The U.S. surgeon general issued a “call for urgent action” to policymakers about further limiting social media access for youth, along with enhancing online privacy protections for children.

SEC office

News Brief

Gaia fined $2M for subscriber overstatement, whistleblower retaliation

2023-05-24T18:17:00+01:00By

Digital video subscription service Gaia will pay a $2 million fine to the Securities and Exchange Commission for allegedly overstating its paid subscribers and retaliating against an internal whistleblower.

ask cco 3x2 may 20234

Premium

Ask a CCO: Biggest priority for upgrading compliance tech

2023-05-24T13:00:00+01:00By Compliance Week

Six senior compliance practitioners share their biggest priority areas for making technological upgrades to their respective compliance programs during 2023.

Mary Inman CW2023

Premium

Whistleblower attorney: Companies that don’t welcome complaints may pay price

2023-05-24T12:00:00+01:00By

Businesses found ignoring tips from employees about possible internal wrongdoing could face stiffer penalties, warned Mary Inman, partner at law firm Constantine Cannon, at Compliance Week’s 2023 National Conference.

AILaw

Article

Expert: It’s time to embrace artificial intelligence

2023-05-23T17:10:00+01:00By Judith Hawkins, International Compliance Association

The rapid rate at which technology is developing is staggering, particularly in relation to artificial intelligence. Can we, as compliance practitioners, keep up?

JPMorgan Chase

News Brief

FINRA fines JPMorgan unit $750K over inaccurate, duplicative orders

2023-05-23T15:44:00+01:00By

JPMorgan Securities agreed to pay $750,000 to settle allegations levied by the Financial Industry Regulatory Authority that its inadequate financial risk management controls and supervisory procedures allowed erroneous orders to be placed with exchanges or alternative trading systems.

ask cco 3x2 may 20233

Premium

Ask a CCO: Where has tech made biggest difference in TPRM efforts?

2023-05-23T13:00:00+01:00By Compliance Week

Six senior compliance practitioners explain the impact technological advances have had in streamlining third-party risk management efforts.

DXC Technology

News Brief

DXC Technology self-reports possible Russian sanctions violations

2023-05-23T12:57:00+01:00By

DXC Technology Company disclosed it might have violated U.S. sanctions and export controls against Russia in its sale of a Russian subsidiary.

Treasury Department

News Brief

U.S. reinvigorates anti-Russia push with new sanctions, guidance

2023-05-22T19:40:00+01:00By

The United States once again ratcheted up sanctions against Russia in an attempt to further choke off the funds and military supplies the country is using in its war against Ukraine.

Facebook Ireland

News Brief

Meta fined record $1.3B in GDPR data transfer ruling

2023-05-22T16:43:00+01:00By

The Irish Data Protection Commission announced a record penalty of €1.2 billion (U.S. $1.3 billion) against Meta regarding its transfers of user data from the European Union to the United States in violation of the General Data Protection Regulation.

ask cco 3x2 may 20232

Premium

Ask a CCO: Compliance team role in TPRM

2023-05-22T13:00:00+01:00By Compliance Week

Six senior compliance practitioners describe how their team contributes to third-party risk management at their respective companies.

Altman_Web

News Brief

OpenAI CEO to Senate: AI could harm world without regs

2023-05-19T20:27:00+01:00By

It is a good idea to regulate artificial intelligence programs like ChatGPT, the chief executive officer of the popular chatbot’s developer told lawmakers.

Gregory Becker SVB hearing

Premium

Four takeaways from Senate hearings on SVB, Signature Bank failures

2023-05-19T17:33:00+01:00By

Leaders at Silicon Valley Bank, Signature Bank, and the regulators who seized their banks testified before Congress across separate hearings.

FacialRecognition

News Brief

FTC warns businesses to risk assess uses of biometric technologies

2023-05-19T17:02:00+01:00By

Businesses that make false or unsubstantiated claims regarding facial recognition and other biometric technologies could face enforcement from the Federal Trade Commission, the agency warned in a policy statement.

Unilever

News Brief

Murad to pay $3.3M for ‘egregious’ Iran sanctions lapses

2023-05-19T15:16:00+01:00By

California-based cosmetics company Murad, a subsidiary of Unilever, agreed to pay $3.3 million as part of a settlement with the Office of Foreign Assets Control addressing apparent Iran sanctions violations over an eight-year period.

Chess piece

Premium

Survey: Compliance tech priorities focused on TPRM in 2023

2023-05-19T11:34:00+01:00By

Respondents to a survey conducted by Compliance Week and FTI Consulting largely indicated third parties to be the most heightened area of risk to their businesses this year, with reporting and dashboarding and enhancing analytics capabilities among top priorities.

Deutsche

News Brief

Deutsche Bank to pay $75M to settle Jeffrey Epstein sex trafficking suit

2023-05-18T21:00:00+01:00By

Deutsche Bank agreed to pay $75 million to settle a class-action lawsuit filed by sexual assault victims of Jeffrey Epstein.

Ted Siedle CW2023

Premium

JPMorgan whistleblower candidly shares experiences at CW2023

2023-05-18T20:17:00+01:00By

If compliance officers are good at their jobs, they can expect to eventually catch their employers breaking the law, whistleblower Edward Siedle told attendees during a fireside chat at Compliance Week’s 2023 National Conference.

DOJ building

News Brief

Precision Lens, owner ordered to pay $487M in false claims judgment

2023-05-18T18:57:00+01:00By

A judge affirmed more than $487 million in penalties and damages against Precision Lens and its owner after a jury found they filed tens of thousands of false claims to Medicare and violated the Anti-Kickback Statute.

Wells Fargo bank

News Brief

Wells Fargo to pay $1B to settle suit over consent order noncompliance

2023-05-18T18:17:00+01:00By

Wells Fargo agreed to pay $1 billion to settle a class-action lawsuit filed by shareholders who claimed the bank overstated its progress in complying with regulatory orders related to its 2016 fake accounts scandal.

SEC

News Brief

SEC proposal seeks risk stability for clearing agencies

2023-05-18T15:47:00+01:00By

The Securities and Exchange Commission proposed a package of rule changes designed to enhance the risk management responsibilities and resilience of covered clearing agencies.

DSC09920

Article

Photo gallery: Compliance Week National 2023

2023-05-17T21:10:00+01:00By Compliance Week

Nearly 500 attendees gathered at the JW Marriott in Washington, D.C. for Compliance Week’s 18th annual National Conference from May 15-17. Check out some of the sights from the event in our photo gallery.

Lauren Kootman CW2023

Premium

DOJ official: Compliance team access, visibility into data a sign of effectiveness

2023-05-17T19:30:00+01:00By

One of the ways the Department of Justice will assess a firm’s compliance program is by judging how accessible and visible a company’s data is to its compliance function, an agency official told attendees at Compliance Week’s 2023 National Conference.

CW2023 Leadership Panel

Premium

CW2023 leadership panel assesses new DOJ priorities, training impact

2023-05-17T13:01:00+01:00By

Recent policy changes at the Department of Justice provided plenty of fodder for a leadership panel of senior legal and compliance practitioners to discuss during Compliance Week’s 2023 National Conference.

Apple store

News Brief

Ex-Apple engineer charged with theft of trade secrets in DOJ sweep

2023-05-17T03:20:00+01:00By

A new strike force co-led by the Department of Justice and Commerce Department made an impact when charges against a former Apple engineer for theft and attempted theft of trade secrets were included as part of its first enforcement actions.

Glenn Leon

Premium

Glenn Leon at CW2023: CCO experience driving DOJ’s compliance program evaluations

2023-05-16T19:58:00+01:00By

Glenn Leon, head of the Department of Justice’s Fraud Section, said “compliance is a very big area of focus” for the agency, during a fireside chat at Compliance Week’s 2023 National Conference.

Interested in writing for Compliance Week?

Compliance Week accepts outside contributions from corporate chief compliance officers and other senior-level GRC practitioners. To learn more, contact Editor in Chief Kyle Brasseur.

LinkedIn Group

    Looking for a forum to interact with corporate compliance officers, internal auditors, risk officers, financial reporting executives, and other corporate governance enthusiasts? Join the Compliance Week LinkedIn group, where members network and discuss GRC news and issues. Open to compliance practitioners.