Tom Fox takes a closer look at the continuing saga of the 1 MDB scandal involving the Malaysian sovereign wealth fund and the need to have robust corporate compliance around all parties.
Tom Fox
Thomas Fox has practiced law for over 40 years. Tom writes the daily award-winning blog, the FCPA Compliance and Ethics blog and founded the Compliance Podcast Network. Tom leads the discussion on AI in compliance through his best-selling book Upping Your Game. He has 38 other books on the use of AI in compliance and business ethics, leadership including the seminal work, The Compliance Handbook, with its 7th edition coming out in 2025. He is the founder of the award-winning Compliance Podcast Network.
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Posted inRegulatory Enforcement
A new chapter in anti-corruption enforcement?
Jorge Luis Arzuaga, a former managing director at the Swiss bank Julius Baer, pled guilty to having arranged the transfers of more than $25 million in bribes for corrupt FIFA officials. This is the first guilty plea in the plethora of service provides who facilitated the massive corruption scandal engaged in by FIFA officials.
Posted inRegulatory Enforcement
British Airways learns a lesson on controls
The recent power failure at British Airways that stranded more than 75,000 holiday passengers is a reminder to companies of the importance of internal controls.
Posted inAnti-Bribery
Tip of the (compliance) hat to Hui Chen
A look at Hui Chen’s career at the Department of Justice, serving as the compliance counsel and, most importantly, putting the compliance function front and center in the fight against FCPA violations.
Posted inRegulatory Enforcement
Compliance and risk management as a competitive advantage
The Man From FCPA explores Amazon’s recent foray into banking that effectively demonstrates how the risk management aspect of compliance can be used as a competitive advantage.
Posted inInternal Controls
Should compliance training be humanities- or business-based?
The Man From FCPA explores the question of whether a compliance professional benefits more from a humanities-based education or a business school-based education.
Posted inRegulatory Enforcement
The Haider FinCEN enforcement action and CCO liability
Does the recent FinCEN enforcement action against Thomas Haider, Moneygram’s CCO, portend a shift in Justice Department enforcement strategies?
Posted inAnti-Bribery
When corruption is endemic and structural
The recent scandals involving JBS, Odebrecht, and Petrobras seem to imply that once Brazilian politicians go on the take, they stay on the take. Time for Brazil to update its anti-corruption regulations.
Posted inRegulatory Enforcement
Under FCPA investigation? Reconsider travel to the U.S.
The arrest of VW’s former top emissions compliance manager, Oliver Schmidt, who was departing the United States after a Christmas holiday and was thrown in jail and denied bail, will make it less likely for foreign countries to send their citizens to face U.S. justice.
Posted inInternal Controls
How Rome and Athens inform today’s company
The differences in roles between a corporate legal department and a corporate compliance function are akin to the differences between Rome and Athens.
