- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Martin Woods2020-07-21T13:42:00
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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Martin Woods writes how a recent case in the United Kingdom should remind us of the importance of our own communications and recordkeeping—especially during a time where it has perhaps never been more important.
The more internal audit plays a key role in the strategic management of fraud, the more effective and robust organizations’ fraud risk management processes seem to be, according to the results of a recent Kroll/IIA survey.
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.
Top-of-mind issues addressed at Compliance Week’s Third-Party Risk Management & Oversight Summit, held June 3-4 in Atlanta, included safe deployment of artificial intelligence, assessing vendor viability and sustainability, understanding the role of procurement in risk ranking, the intersection (or lack thereof) between data privacy and cybersecurity, and many others.
Anne Morriss, co-author of “Move Fast and Fix Things,” advises compliance officers to tap into curiosity, communicativeness, and comfort with discomfort to build organizational trust, fast.
Regulators and government agencies often speak to the value of empowered corporate compliance programs to advancing their mission. Why not practice what they preach by empowering compliance among their own ranks?
