Now is the time to market compliance practices to customers who wear masks within our premises but drop the masks—and their guards—when answering calls and emails from the privacy of their own homes, writes Martin Woods.
Martin Woods
Posted inRisk Management
SARs overload slowing efforts to combat financial crime
For the global AML community, there is a need to recognize too much valuable time is spent filing too many low-value suspicious activity reports that will never become the subject of any law enforcement action, writes Martin Woods.
Posted inEurope
U.K.’s Russia report underscores need to question big money
The U.K.’s long-awaited report on Russian interference in the country stresses the importance for big money to be subject to enhanced levels of due diligence, writes financial crime expert Martin Woods.
Posted inInternal Controls
Using data to fight fraud fire with fire
When it comes to ferreting out and thwarting fraud, one must think like the fraudster, advises financial crime expert Martin Woods, who offers tips on using data to make your firm a hostile environment for bad actors.
Posted inEthics & Culture
Want an image of corruption? Look to the victims
Harrowing images of coronavirus-related suffering exacerbated by bad actors plaguing healthcare systems offer a glimpse at the true devastation of corrupt activity, writes financial crime expert Martin Woods.
Posted inInternal Controls
Nothing more important than knowing your risk exposure
In performing due diligence on your supply chain partners, do not be intimidated into accepting no for an answer. Being blind to potential risks is bound to get you into trouble, writes financial crime expert Martin Woods.
Posted inRisk Management
Analysis: When clean money is used for dirty purposes
There are times when it is a necessary to consider where clean money is going to as much as where dirty money may have come from, writes financial crime expert Martin Woods.
Posted inAML
Analysis: Following the telephone trail to detect fraudsters
One way to thwart money launderers is to take a page from the government’s playbook and examine smartphone applications when the contamination of fraud or money laundering is discovered.
Posted inAccounting & Auditing
In time of crisis, Wirecard has turned to its would-be CCO to lead
Reeling from a $2 billion accounting scandal, Wirecard has turned to its would-be chief compliance officer as its interim CEO. It’s the first smart move the company has made in a while, writes Martin Woods.
Posted inEthics & Culture
What are expectations of compliance at a negligent company like PG&E?
Financial crime expert Martin Woods wonders about the compliance priorities of a company found to be as reckless as Pacific Gas and Electric.