By Jeff Dale2023-08-22T16:23:00
The impact of “see something, say something” was on display as part of Construction Specialties’ (CS) settlement with the Treasury Department’s Office of Foreign Assets Control (OFAC) announced Wednesday for apparent Iran sanctions violations.
A whistleblower employee who came forward in the case overheard senior managers at CS Middle East talking about a “big job” with U.S.-origin goods, according to OFAC’s enforcement release. The managers dismissed the whistleblower for asking too many questions, but the latter refused to go quietly.
The whistleblower did not simply call a tip line or email someone at corporate—they flew to the United States from the United Arab Emirates and went to CS’s headquarters in New Jersey to raise the alarm. Talk about integrity.
2023-09-08T20:14:00Z By Jeff Dale
Monolith Resources, a privately held energy and tech company, agreed to pay $225,000 to settle charges by the Securities and Exchange Commission it used employee separation agreements that violated whistleblower protection rules.
2023-08-17T20:11:00Z By Jeff Dale
Construction Specialties agreed to pay more than $660,000 in a settlement with the Office of Foreign Assets Control regarding three apparent sanctions violations in Iran carried out by “rogue employees” of its Middle Eastern affiliate.
2023-08-08T17:41:00Z By Kyle Brasseur
The SEC announced a $104 million award split among seven whistleblowers, but the fact nearly a dozen claimants contacted the agency seeking to provide information related to one action should be notable to companies regarding the stakes of the current whistleblower landscape.
2025-09-09T16:37:00Z By Aly McDevitt
The Epstein case remains a defining moment for financial institutions. As new investigations bring renewed attention to his enablers, Compliance Week’s 2024 case study offers not only a timeline of failures but a path forward. Here’s what banks, regulators, and compliance teams must learn from it.
2025-09-03T11:37:00Z By Tom Fox
At their core, compliance officers are problem-solvers. They wrestle with thorny questions every day: How do we implement a global gifts-and-entertainment policy across jurisdictions with vastly different cultural norms? How do we balance business pressures with anti-corruption obligations? How do we address new risks like AI itself?
2025-09-02T14:19:00Z By Hemanth Kumar, Guest Contributor
Financial ecosystems are no longer confined within national boundaries. Money, technology, and risks flow seamlessly across jurisdictions, creating unprecedented challenges for compliance officers. From sanctions and anti-money laundering (AML) obligations to the rise of virtual assets, the compliance function must now navigate a complex, cross-border landscape where regulators, institutions, and ...
Site powered by Webvision Cloud