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Chapter 1: Compliance v. complicity: The ‘underbelly’ of bank culture
2024-03-18T16:00:00+00:00By Aly McDevitt
Why were decisions made the way they were at the banks that serviced Jeffrey Epstein? Evidence points to a cultural tension: a tug-of-war between the allure of profit and the drag of compliance, with the former having all the pulling power.
Case study: ‘The Banks Behind the Epstein Enterprise’
2024-03-18T15:50:00+00:00By Aly McDevitt
This Compliance Week case study offers a deep dive into the anti-money laundering compliance failures—and alleged complicity—of JPMorgan Chase and Deutsche Bank, the two banks that enabled the Jeffrey Epstein enterprise to flourish for decades.
EU due diligence directive back on track, despite concession concerns
2024-03-18T14:57:00+00:00By Ruth Prickett
The future of the EU’s Corporate Sustainability Due Diligence Directive was thrown into doubt when the European Council failed to endorse proposals. The directive is back on track after being agreed upon, albeit in weaker form.
Policy changes underscore need for enhanced child labor due diligence
2024-03-18T13:20:00+00:00By Aaron Nicodemus and Adrianne Appel
Rooting out potential child or forced labor violations in your company’s supply chain can have benefits beyond protecting reputation and being ethically sound. The process can also help your firm comply with pending child labor laws in other jurisdictions.
Privacy by design a silver bullet for stemming AI risks?
2024-03-15T17:41:00+00:00By Neil Hodge
The proliferation of artificial intelligence technologies—and their reliance on publicly available data—has reinforced the need for tech developers and the companies using their solutions to ensure privacy by design and by default is at the crux of any offering.
The auditor’s role in supply chain due diligence
2024-03-14T17:54:00+00:00By Maria L. Murphy
Although compliance should be the company’s primary responsibility, auditors have become the last line of defense and are getting pressured and blamed for supply chain issues, including instances of child labor. Is this expected to become the normal for the profession?
Study: Climate transition impact reporting still lacking
2024-03-14T14:15:00+00:00By Ruth Prickett
Large polluters are failing to account for climate change impact and adaptation, but policymakers need to harmonize disclosure requirements to drive coherent action.
U.S. banking regs mulling enhanced operational resiliency frameworks
2024-03-13T19:47:00+00:00By Aaron Nicodemus
Acting Comptroller of the Currency Michael Hsu said federal banking agencies are considering enhancements to their operational resiliency requirements for member banks.