Martin Woods
Martin Woods is a former detective turned compliance officer who has experience with major compliance cases and settlements from a number of perspectives. He now applies his experience to the analysis and subsequent commentary of current compliance investigations and settlements. Previously, he advised bankers, regulators, the United Nations, central bankers, and law enforcement groups from around the world.
ArticleWhy a ‘don’t put that into writing’ request should raise a red flag
The next time someone tells you not to take notes during a meeting, think about why they’re making that request. It’s almost never a good idea to agree to it, writes financial crime expert Martin Woods.
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Analysis: How to handle the heat of boiler room fraud
Financial crime expert Martin Woods explains how compliance professionals can do their part in rooting out boiler room/investment frauds, citing a recent story from a call center in Kiev.
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Analysis: Opportunity knocking for coronavirus criminals
Financial crime expert Martin Woods explores how bad actors use crises like the coronavirus pandemic to exploit fear, perceived weaknesses, and obvious vulnerabilities and further their criminal enterprise.
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Analysis: Fraud in Germany propels new European AML plan
Financial crime expert Martin Woods reviews the “cum-ex” scandal and how a recent action plan from the European Banking Authority aims to help stop such schemes from burgeoning.
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Analysis: Why compliance culture must lead in return from coronavirus
Is managing our return to the workplace a job for the compliance department? The better question may be how can we get all employees to serve the wider compliance effort, writes Martin Woods.
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Analysis: Oil collapse leaves Singapore traders scrambling
Recent fraud complaints at oil traders in Singapore highlight the risks in the international business of commodity finance, where high prices provide high rewards and low prices can leave lenders exposed.
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Analysis: The problem with keeping a secret
You can’t hide behind the numbers, as numerous banks, including Bank Hapoalim, found out recently when rampant tax evasion took hold in Switzerland.
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Cyber-criminals have supply chains, too
All cyber-attacks leave a trail. These trails can be complex, of course, but the criminals cannot avoid them. Thus, they leave a supply chain of intelligence and data.
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Lesson from Westpac: If you can’t do the simple things correctly, watch out
If a bank or a firm cannot execute on the simple things, such as cash transaction reporting, there is little reason to be confident of compliance in other more complex and challenging areas.
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Whistleblowers have never been more important … or more targeted
If there’s anything to be learned from recent examples, it’s that whistleblowers do more than anyone to speak truth to power. That’s why it’s so important they are both listened to and properly protected and rewarded.
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Watch out: Why luxury wristwear could be sign of corruption
Financial crime expert Martin Woods reviews the DOJ’s recent charges against ex-FBI agent Babak Broumand and how a gold Rolex watch led down a path of alleged corruption.
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Analysis: Luckin Coffee saga a case of déjà vu?
Financial crime expert Martin Woods ponders how the SEC can ensure foreign companies, like China-based Luckin Coffee, that publicly trade in the U.S. can apply the proper standards of compliance, financial reporting, and even whistleblower protections.
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Analysis: A case study on why following steps on ABC compliance is so important
If there is an A-Z compliance procedure to follow, don’t stop at X or miss out LMN. Adhere to the procedure and preserve the integrity of your firm and those honest people who work within the rules.
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Analysis: Lessons from a Singapore oil tycoon in the time of coronavirus
When the tide of coronavirus went out on the oil industry, it revealed a mountain of hidden debt for OK Lim’s oil trading company, which reminds financial crime expert Martin Woods of an old saying from Warren Buffet.
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Analysis: EY now faces questions of trust
In the case of Amjad Rihan versus EY, a question of trust has opened a can of worms. Financial crime expert Martin Woods explores.
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Analysis: EY brand takes beating in case vs. whistleblower
What does the Amjad Rihan case do to the brand of EY and, more pointedly, those who spend time with EY as clients? Financial crime expert Martin Woods offers his take.
