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.
2025-10-10T20:28:00Z By Tom Fox
Compliance professionals have long known that systems fail when governance does. An MIT study’s finding that 95 percent of enterprise artificial intelligence (AI) pilots fail underscores how essential compliance-grade discipline is to the success of emerging technologies.
2025-10-09T15:24:00Z By Brett Erickson, CW guest columnist
Banks emphasize risk-based compliance in their AML programs, citing it to regulators and embedding it in policy, yet many institutions still handle risk very differently in practice.
2025-10-07T16:21:00Z By Charles Thomas, CW guest columnist
On a gray Tuesday morning, the audit seemed routine. A stack of binders sat on the table, the compliance officer was confident, and the regulator’s tone was cordial. Then came the question that changed everything.
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