In financial institutions across the United States, there’s a reflex that’s become almost ritual.
When a regulator walks in, or a board member asks whether the AML program is working, the answer is the same: “We just passed audit.” It’s delivered with confidence, sometimes even pride, as if the risk has been neutralized. But passing audit doesn’t mean your program is safe.
It doesn’t mean it’s effective. And in today’s threat landscape, it doesn’t mean much of anything at all.
Companies face rising pressure to detect misconduct early. Strong internal investigations identify compliance issues, uphold regulations, and protect credibility.
Former Head of Compliance/Chief Compliance Officer Laurie Waddy believes compliance professionals are well-positioned to support artificial intelligence (AI) adoption in their organizations. Drawing on 25 years’ experience in legal and compliance roles across multiple industries, Waddy shares insights into top compliance trends confronting the profession, including the emerging compliance risks related to AI implementation.
In today’s complex and rapidly evolving regulatory compliance environment, organizations should have a thorough and effective internal investigations program in place to address any allegations of misconduct.
Does sci-fi predict the future of compliance or simply provide commentary on the current state of compliance? What is the role of corporate compliance around AI governance?
Many small organizations within the Defense Industrial Base are struggling to meet the rigorous requirements validated through the Cybersecurity Maturity Model Certification, writes Thomas Graham, CISO at Redspin. If you haven’t been tracking it closely, CMMC was finalized in October, with an effective date of December 16, 2024.
While executives and boards will never conclude that bribery is a legitimate way of doing business, understandably many have questions about how to direct their FCPA compliance program efforts and resources, write Iris Bennett and Claire Rajan, partners at law firm Steptoe.
The era of artificial intelligence adoption is testing the old ways of doing compliance, underscoring the need for continuous monitoring. Compliance isn’t a one-and-done activity, but sometimes organizational incentives and goals fail to prioritize the importance of this.
Enforcement actions in the first half of of 2024 by the Treasury Department’s Financial Crimes Enforcement Network highlight the importance of proactive measures in Bank Secrecy Act compliance rather than just being compliant.
Margaret Holmes Tibbets, chief compliance officer at financial technology company Pipe, explains how firms are facing an existential compliance crisis, and to survive they’ll need to overcome not one but two hurdles.
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