All articles by Martin Woods – Page 3
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ArticleWhile compliance is in vogue, let masks be a symbol of safety in all situations
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.
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ArticleSARs 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.
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ArticleU.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.
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ArticleUsing 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.
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ArticleWant 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.
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ArticleNothing 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.
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ArticleAnalysis: 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.
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ArticleAnalysis: 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.
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ArticleIn 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.
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ArticleWhat 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.
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ArticleLessons from Wirecard: Ignore unchallenged allegations at your peril
When a company does not rebut serious allegations of wrongdoing with litigation, the only response is to demand answers from the firm or take your business elsewhere, writes financial crime expert Martin Woods.
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ArticleAnalysis: Learning to learn from our mistakes with AML
Scientists and doctors cannot succeed or make medical breakthroughs without being prepared to fail. The same approach should be taken to combating anti-money laundering, writes financial crime expert Martin Woods.
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ArticleAnalysis: Path to effective AML is doing less with more
The answer to being more effective at stopping money launderers is to challenge the value of processes that are clearly failing. Financial crime expert Martin Woods explains.
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ArticleAnalysis: Let Westpac’s missteps be a cautionary tale
By balking at original allegations, Westpac opened itself to infinitely more harm, writes financial crime expert Martin Woods.
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ArticleAnalysis: Don’t ignore financial misconduct in ‘plane’ view
Compliance officers must let go of the fear that often accompanies respect for big money (or luxurious aircrafts) and hold the difficult conversations when ferreting out bad actors, writes financial crime expert Martin Woods.
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ArticleCompliance has a role in eliminating corporate bullies
Anti-bullying should be at the top of your compliance agenda and should be supported by increased gender balance, writes financial crime expert Martin Woods.
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ArticleAnalysis: When a bonus becomes less incentive, and more compromise
Financial crime expert Martin Woods explores what happens when the annual bonus causes employees to disregard their values for want of a dollar.
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ArticleAnalysis: VW ‘deliberately immoral’ ruling pushes governance lessons
A look at a recent court case against car manufacturer Volkswagen once again places the company in the spotlight but, perhaps more importantly, offers some lessons in how to live up to shareholder expectations of good governance that protects their investment.
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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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ArticleAnalysis: 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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