The drive toward upskilling in the field of investigations is not exclusive to the law enforcement and intelligence communities. Investigations knowledge and expertise among those working within industry will also become an increasingly valued commodity.
Surveys & Benchmarking
Posted inInternal Controls
Common sanctions compliance trip points from 2023 enforcement cases
Penalties against companies including British American Tobacco, Wells Fargo, and Microsoft demonstrate the multiple ways in which businesses can run afoul of U.S. sanctions—an area receiving increased scrutiny by regulators.
Posted inRisk Management
Survey: Financial institutions doing more with less by outsourcing compliance
Respondents to a recent survey conducted by Compliance Week and Guidehouse largely indicated outsourcing improved the effectiveness of their compliance program in fighting financial crime, though limits remain on how much can be outsourced.
Posted inRisk Management
IBM report: Data breach costs at all-time high; AI helping detection
The global average cost of a data breach reached a new all-time high of $4.45 million in 2023, according to IBM’s annual report.
Posted inAccounting & Auditing
PCAOB chair: Rising audit deficiency rates ‘completely unacceptable’
A steady increase in the rate of deficiencies observed by the Public Company Accounting Oversight Board during audit inspections the past three years has the head of the agency calling on firms to “make changes to turn things around.”
Posted inEurope
The importance of quality SARs
Good suspicious activity reports make it easier for financial intelligence units to prioritize and process investigations, enabling better results in the global fight against financial crime.
Posted inAccounting & Auditing
Tech capabilities key to finance support of ESG reporting
Finance and accounting is increasingly relied on to provide support regarding companies’ ESG disclosures without being granted additional resources. Technology that enables automation serves as a solution to reduce this burden.
Posted inEthics & Culture
Tech giants, White House agree to AI risk management guidelines
Technology companies including Google, Meta, and OpenAI agreed to a series of voluntary commitments they’ll make regarding their management of risks when developing artificial intelligence systems.
Posted inRisk Management
Survey: U.S. bank failures prompt reassessment of third-party risks
Nearly half the respondents to a Compliance Week and Riskonnect survey regarding the recent U.S. banking crisis said they changed or considered changing their third-party risk management procedures as a result of the turmoil.
Posted inEthics & Culture
Corporate implications of SCOTUS affirmative action reversal
The trickle-down effects of the Supreme Court’s decision overturning affirmative action in college admissions have already come to light. With legal attacks on diversity, equity, and inclusion efforts on the horizon, private employers should risk assess their programs.