Internal Investigations


VWcrop

Volkswagen secures $21.7M in executive clawbacks for Dieselgate roles

2021-06-10T20:19:00+01:00By

Volkswagen’s supervisory board announced agreements to recover €17.8 million (U.S. $21.7 million) in compensation from former executives and board members for their respective roles in the Dieselgate emissions scandal.

Avianca

SEC drops FCPA probe into Avianca

2021-06-04T17:39:00+01:00By

Avianca Holdings disclosed in a regulatory filing that the SEC has dropped its FCPA investigation into the company and will not recommend an enforcement action.

opentext 300x200

CPE Webcast: Managing true challenges in a compliance investigation

2021-06-03T14:00:00+01:00Provided by

Compliance investigations are fraught with challenges from start to finish—from the pre-planning stage through the presentation of the final report detailing the factual findings.

complianceline300x200

CPE Webcast: Data-driven compliance: Speak-up culture and faster investigations

2021-05-18T14:00:00+01:00Provided by

Get the covid-adjusted data on how peers around the world have experienced report volume, anonymous reporting, and investigation performance throughout 2020.

Bombardier sign

DOJ joins SFO in corruption probe of Bombardier

2021-05-10T17:51:00+01:00By

The U.S. Department of Justice has joined the U.K. Serious Fraud Office in an ongoing investigation into plane maker Bombardier over suspected bribery and corruption relating to contracts and orders from airline carrier Garuda Indonesia.

Pactiv Evergreen

DOJ closes FCPA investigation into Pactiv Evergreen

2021-05-10T15:57:00+01:00By

Pactiv Evergreen said it will not face an enforcement action by the Department of Justice, following an internal investigation launched last year into potential violations of the Foreign Corrupt Practices Act.

Bob Mazur

Members only podcast: Robert Mazur shares first-person AML lessons

2021-04-27T12:21:00+01:00By Compliance Week

Robert Mazur, the famous undercover agent portrayed in the 2016 film “The Infiltrator,” delivered an hour-long keynote at CW’s Financial Crimes virtual event in March.

Coronavirus domino effect

Study: How compliance managed COVID’s effects on incident reports

2021-04-20T19:21:00+01:00By

The coronavirus pandemic dramatically altered incident reports and investigations in 2020. Despite facing unprecedented challenges, as analyzed in NAVEX Global’s latest benchmark study, compliance officers met the moment.

Bob Mazur

Robert Mazur: Old tricks still work for launderers; new policies could help

2021-04-01T16:02:00+01:00By

Former federal agent Robert Mazur revealed secrets of the money-laundering trade to attendees of CW’s Financial Crimes virtual event and proposed two solutions for financial institutions in the fight against bad actors.

Volkswagen

Volkswagen to seek damages from former CEOs over Dieselgate

2021-03-29T20:40:00+01:00By

Volkswagen’s supervisory board has accused former CEOs Martin Winterkorn (Volkswagen) and Rupert Stadler (Audi) of negligent breaches of duty during the diesel scandal.

Bribe

TRACE: U.S. bribery enforcement declined in 2020

2021-03-11T19:44:00+00:00By

Despite a banner year for resolutions under the Foreign Corrupt Practices Act in 2020, U.S. enforcement of the anti-bribery law dropped 29 percent when compared to 2019, according to the latest Global Enforcement Report by TRACE International.

SEC

Biden influence apparent in SEC 2021 examination priorities

2021-03-03T21:12:00+00:00By

The long-awaited 2021 examination priorities of the Securities and Exchange Commission were released Wednesday, with climate- and ESG-related risks unsurprisingly among areas that will receive enhanced focus.

SEC

SEC expands number of staffers authorized to launch investigations

2021-02-09T22:19:00+00:00By

The acting head of the Securities and Exchange Commission has expanded the number of staff authorized to issue a formal order of investigation, perhaps a sign the agency intends to launch more cases under President Joe Biden.

SEC

Defense bill empowers SEC in seeking return of profits from fraud

2021-01-05T21:22:00+00:00By

The ability of the SEC to pursue the return of profits earned in fraudulent schemes has been strengthened as part of Congress’ passage of the National Defense Authorization Act for Fiscal Year 2021.

Investigate

The growing demand for investigation skills in compliance

2020-12-16T16:48:00+00:00By Tristan Jenkinson, International Compliance Association

As the compliance world evolves, the skill sets needed by practitioners are changing. The ability to run investigations effectively is now highly prized, and key skills, such as understanding the use of technology, will be among the most fundamental in the years ahead.

woods

U.S. beneficial ownership efforts a welcome sight for global AML community

2020-12-14T20:14:00+00:00By

U.S. Congress’ defense spending bill requiring corporations to identify who owns and controls them is a significant milestone in the global effort to put an end to anonymous shell companies, writes Martin Woods.

WhistleblowerEmployee

Companies should create ‘Ombuds’ function to meet EU whistleblower rules

2020-12-08T17:55:00+00:00By Cédric Dubar, CW guest columnist

The creation of an independent, competent “Ombuds” function could be used by companies to respond to certain key requirements in the EU’s Whistleblower Protection Directive.

Swedbank

Swedbank being investigated for suspected market abuse

2020-09-21T16:24:00+01:00By

Swedbank announced the Swedish Financial Supervisory Authority has opened an investigation into the bank for potential violations of the regulation on market abuse in connection to the disclosure of suspected money laundering.

EY

EY chairman: Auditors should work harder to find fraud

2020-09-15T20:31:00+01:00By

The chairman and chief executive of Big Four auditing firm EY says auditors should do more to uncover fraud while conducting external audits, a topic the industry has historically been reluctant to tackle.

FCPA-July

Pactiv Evergreen discloses FCPA probe ahead of IPO

2020-09-10T14:17:00+01:00By

In its IPO filing, foodservice packaging company Pactiv Evergreen (currently Reynolds Group Holdings Limited) announced it might have potentially violated the Foreign Corrupt Practices Act regarding gift cards given in China.

Robinhood

Robinhood adds two CCOs amid reported SEC probe

2020-09-01T20:20:00+01:00By

Online stock trading platform Robinhood last week announced the appointment of two chief compliance officers as it reportedly faces scrutiny from the SEC and FINRA regarding its March system outages.

woods

‘I don’t know’ is among a compliance officer’s strongest statements

2020-08-20T15:49:00+01:00By

Martin Woods explains how saying “I don’t know” helped him to learn and elicit the truth during his time as a financial crime compliance officer.

Accounting fraud

SEC investigating iQIYI over accounting scandal

2020-08-14T18:03:00+01:00By

iQIYI announced it’s under investigation by the Securities and Exchange Commission over allegations the China-based video-streaming company overstated its revenues and subscriber numbers.

AuditResources

New survey highlights internal audit’s vital role in fraud risk management

2020-08-13T17:48:00+01:00By

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.

Accounting fraud

FRC closes accounting investigation into Mitie Group

2020-07-15T17:07:00+01:00By

The U.K. Financial Reporting Council announced the closure of its nearly three-year-long investigation into the financial statements of facility management firm Mitie Group for the year ended March 31, 2016.

FCPA-July

SEC, DOJ close FCPA probes into USANA

2020-07-01T15:36:00+01:00By

Usana Health Sciences disclosed in a regulatory filing that the DOJ and SEC have closed their respective FCPA investigations into the company and will not be filing any charges.

Accounting fraud

FRC to probe EY, PwC audits of London Capital & Finance

2020-06-24T18:33:00+01:00By

The U.K. Financial Reporting Council has commenced three investigations into the audits of collapsed investment firm London Capital & Finance, including audits carried out by Big Four firms EY and PwC.