Risk Management


News Brief

FTC, Latin American countries partner on fighting cross-border fraud


The Federal Trade Commission is partnering with Chile, Colombia, Mexico, and Peru to fight cross-border fraud, with other consumer protection authorities invited to join in the future.

Shinhan Bank

News Brief

Shinhan Bank America fined $25M for repeat AML compliance failures


The American branch of South Korea-based Shinhan Bank agreed to pay $25 million across settlements with three separate regulators for admitted violations of the Bank Secrecy Act and anti-money laundering requirements.


News Brief

Broker-dealers, IAs, credit raters caught in SEC off-channel comms sweep


A dozen financial services firms were penalized by the Securities and Exchange Commission as the agency continues its enforcement sweep of recordkeeping violations regarding employee use of off-channel communications for business purposes.


News Brief

Albemarle to pay $218M in FCPA settlements with DOJ, SEC


Chemical company Albemarle was assessed penalties totaling more than $218 million as part of settlements with the Department of Justice and Securities and Exchange Commission addressing alleged violations of the Foreign Corrupt Practices Act across a handful of foreign countries.


News Brief

DHS designates three Chinese companies for Uyghur forced labor


The Department of Homeland Security designated three companies to a growing list accused by the Biden administration of forced labor practices in the Xinjiang region of China.

Wise Payments


Naming and shaming? Fair approach? Expert views mixed on OFSI’s Wise Payments case


The recent decision by the U.K. Office of Financial Sanctions Implementation to disclose details of how Wise Payments failed to stop an individual from obtaining cash while subject to Russian sanctions has ignited debate about whether the agency is taking the right enforcement approach.

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CPE Webcast: Interagency guidance on third parties: How the expanded scope affects everyone

2023-09-28T14:00:00+01:00Provided by Venminder

This webcast will provide an overview of new interagency guidance on third-party relationships, as well as share practical advice to ensure your organization is fully prepared for the expanded scope and what this means for your organization’s TPRM program.

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Annual survey: Help us get ‘Inside the Mind of the CCO’

2023-09-26T20:51:00+01:00By Compliance Week

Compliance Week’s fifth annual “Inside the Mind” survey seeks to discover what makes CCOs and other risk and compliance practitioners tick. Take 10 minutes to share your experiences and be part of our special report.


News Brief

Lawsuit: Ex-Payqwick CCO fired, retaliated against for raising alarm


The ex-chief compliance officer at Payqwick, a California-based money transmitter that serviced the cannabis industry, is suing her former employer alleging wrongful termination and whistleblower retaliation over lax disclosures related to an acquisition.


News Brief

JPMorgan to pay $75M in latest Epstein-related settlement


JPMorgan Chase agreed to pay $75 million as part of a settlement with the government of the U.S. Virgin Islands regarding the bank’s ties to convicted sex offender Jeffrey Epstein.



Assessing the value of COSO sustainability reporting guidance


Companies that haven’t yet set up verifiable reporting in their sustainability programs have a ready reference available in the framework put out by the Committee of Sponsoring Organizations of the Treadway Commission, experts discussed at CW’s virtual ESG Summit.

Deutsche Bank

News Brief

Deutsche Bank unit fined $25M in ESG, AML settlements


DWS Investment Management Americas agreed to pay $25 million in penalties across separate settlements with the Securities and Exchange Commission addressing alleged misstatements in environmental, social, and governance investments and anti-money laundering violations.



Startup or established: Common denominators of corporate ESG strategy


A pair of experts from vastly different companies swapped notes on how to scaffold and structure an environmental, social, and governance program at CW’s virtual ESG Summit.



Experts: How ESG materiality assessments impact compliance


Transparency in environmental, social, and governance reporting has become an important goal, with materiality assessments impacting compliance outcomes, experts said during CW’s virtual ESG Summit.

Board table


DOJ official: Compliance must have ‘prominent seat’ at M&A decision table


The Department of Justice is gearing up to provide more guidance on voluntary self-disclosures in the mergers and acquisitions space and the role compliance should play.

Safe bank


Bank privacy processes questioned after U.K. ‘debanking’ scandal


The furor over NatWest Group’s decision to monitor and close the account of right-wing Brexit campaigner Nigel Farage—and then disclose the details to a journalist—has raised questions regarding whether other banks employ the same means to get rid of undesirable customers.

ESG assurance


Path to ESG assurance a crawl-walk-run exercise


It’s important companies exercise patience when determining when to begin an assurance engagement, experts explained during a session at CW’s virtual ESG Summit.



CPE Webcast: TPRM Program and Technology Modernization

2023-09-21T14:00:00+01:00Provided by

As organizations increasingly rely on third and fourth parties to support critical business services many are assessing their existing capabilities and modernizing their Third Party Risk Management (TPRM) programs and enabling technologies.

Emissions measurement


Scope 3 emissions best practices: Be transparent, thorough


There is much companies can do—and must do, given upcoming regulatory requirements—to rein in Scope 3 emissions, sustainability expert Susan McNichols discussed at CW’s virtual ESG Summit.

Credit reports

News Brief

CFPB warns lenders on use of AI in credit denial process


The Consumer Financial Protection Bureau warned lenders using artificial intelligence in credit denials that consumers must receive accurate and specific reasoning—and not checklists—for why a credit request was denied.

Business meeting


Survey: Tech gaps, third parties pose biggest ABAC threats


A recent survey conducted by Compliance Week and Morgan Lewis determined areas of insufficient resource support to combat bribery and corruption, along with trends in third-party due diligence.

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Survey Report: Tech gaps, third parties pose biggest ABAC threats

2023-09-19T20:46:00+01:00Provided by Morgan Lewis

Compliance professionals asked to assess their anti-bribery and corruption efforts indicated resource support deficiencies in areas including staffing and technology, according to a survey conducted by Compliance Week and Morgan Lewis.

GHG emissions


Experts: SEC or not, Scope 3 GHG disclosure requirements coming


The actions of companies like Amazon and new legislation passed in California prove it’s no longer a question of if companies will be required to disclose their greenhouse gas emissions—it’s a question of when, experts told attendees at CW’s virtual ESG Summit.

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Webcast: How to build a responsible, compliant, and ethical AI program

2023-09-19T14:00:00+01:00Provided by

Artificial intelligence is rapidly transforming the way businesses operate. As AI becomes more pervasive, it is essential for organizations to have a strong AI governance program in place to mitigate risks while capitalizing on value.



CPPA eyeing broad scope in early discussions around data risk assessments


Draft risk assessment regulations under the California Consumer Privacy Act are designed to prohibit businesses from handling consumer data if uncontrolled risks—to the security and privacy of the consumer, the public, or the business—outweigh the benefits.

Russia sanctions

News Brief

New OFAC sanctions expand clamps on Russia tech supply chain


The Office of Foreign Assets Control widened its area of focus to disrupt Russia’s technology supply chain with new sanctions announced against entities in Finland and Turkey.

Richard Blumenthal


Big Tech wants AI ‘referee,’ but lawmakers differ on approach to regs


Federal lawmakers shined a spotlight on artificial intelligence this week, raising the possibility that Congress will—eventually—legislate some controls on the burgeoning technology should middle ground be found.

U.K. money laundering


Lessons learned from FCA case against CFP Management MLRO

2023-09-14T17:00:00+01:00By Ariane Baldwin-Webb, International Compliance Association

The U.K. Financial Conduct Authority’s decision notice against the money laundering reporting officer of CFP Management sends a strong message to the financial industry, particularly those who work in senior management functions or hold oversight responsibilities.



On-Demand: Say it. Do it. Prove it: Navigating the compliance trifecta in the age of AI

2023-09-14T14:00:00+01:00Provided by

Delve into the crucial aspects of the compliance trifecta—say it, do it, prove it—and how organizations can navigate them through the art of data discovery.

Carolina Ceballos


Q&A: Paxos CCO on defying stereotype of lax controls in digital asset industry


Carolina Ceballos, the first full-time chief compliance officer at Paxos, shares with Compliance Week what the blockchain infrastructure platform does, its culture, and how it uses compliance as a competitive advantage.

SEC office

News Brief

SEC fines former Marcum partner for causing control failures


An ex-partner at Marcum agreed to pay $75,000 to settle charges by the Securities and Exchange Commission he failed to remediate numerous quality control deficiencies magnified by the audit firm’s special purpose acquisition company client boom.



Fallout from ‘debanking’ scandal suggests more U.K. bank reforms coming


The former CEO of NatWest’s decision to leak client details to the press regarding Nigel Farage is likely to cost the financial industry millions in new compliance checks as U.K. regulators prepare reviews into how banks treat people with extreme political views.

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CPE Webcast: A practitioner’s approach to living with data risk

2023-09-12T14:00:00+01:00Provided by

This session is focused on the practical steps to balancing data risks, looking at the people, practices, and technologies behind the effort.

California skyline


California cybersecurity audit rule scope begins taking shape at CPPA meeting


A final version of California’s cybersecurity audit rules likely won’t be released until later next year at the earliest, according to a rough timeline discussed by the California Privacy Protection Agency.

Russia sanctions

News Brief

FinCEN analysis: Trends in Russia export control evasion attempts


Analysis of suspicious activity reports by the Financial Crimes Enforcement Network indicates nearly $1 billion in suspicious activity in cases of suspected evasion of Russia-related export controls.


News Brief

FDIC acknowledges supervisory lapses in First Republic Bank postmortem


Loss of confidence following the March collapses of Silicon Valley Bank and Signature Bank was the primary reason First Republic Bank failed in May, according to an internal review conducted by the Federal Deposit Insurance Corporation.

Digital currency


CFTC commissioner floats pilot program for digital asset markets


Commissioner Caroline Pham of the Commodity Futures Trading Commission proposed the agency develop a regulatory pilot program for digital asset markets where new initiatives could be introduced and refined.



Five ways to build a top ethics and compliance team

2023-09-08T16:00:00+01:00By Luciane Mallmann, for International Compliance Association

Luciane Mallmann, head of ethics and compliance for U.K. and Ireland at real estate services company JLL, shares how embedding ethics and compliance into culture, strategy, and operations can add value to a business and its people.



Q&A: Lexmark sustainability chief on defying ESG criticism to ‘stay the course’


John Gagel, chief sustainability officer for Lexmark International, shares with Compliance Week why the private company tracks its greenhouse gas emissions and plans to comply with the climate-related disclosure rule proposed by the Securities and Exchange Commission.

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CPE Webcast: Seven practical tips for ongoing third-party risk monitoring

2023-09-07T14:00:00+01:00Provided by

Are you staying vigilant when it comes to third-party risk? With more businesses relying on external third parties, it’s critical to monitor third-party risk on an ongoing basis.


News Brief

SEC risk alert warns investment advisers over exam determinations


How the Securities and Exchange Commission determines which investment advisers to inspect and what areas those examinations typically cover were among subjects addressed in a new risk alert released by agency staff.



Paying ransom to avoid GDPR fine an unwise gambit


Companies that think paying reduced ransomware demands would be a better move than informing regulators of a data breach and facing enforcement are playing with fire, according to experts.

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White paper: Raising the bar on risk management

2023-09-06T16:24:00+01:00Provided by

The technologies and approaches that enterprises use to manage risk and compliance have evolved—and this evolution is creating a moment of opportunity.

US privacy


From 5 to 11: Keeping up with new state data privacy laws


If multi-state businesses thought at the start of 2023 complying with a patchwork of U.S. state privacy laws was going to be a lot of work, now they must be overwhelmed. Experts assess the fast-evolving U.S. privacy landscape.


News Brief

Discover sued by investors over lax compliance procedures


Discover Financial Services faces a class-action lawsuit from investors alleging materially false and misleading statements regarding its business, operations, and compliance policies.


News Brief

Switzerland floats AML reforms for beneficial ownership, legal advice


The Swiss government launched consultation proceedings on a series of reforms designed to combat money laundering and terrorist financing occurring within the country’s financial system.



Q&A: Zeta CCO on leading innovation with compliance


Karla Booe, chief compliance officer for Zeta Services, discusses with Compliance Week how the card processor bakes compliance into its decision-making process for new technologies and product offerings.

NatWest Bank

News Brief

FCA to review treatment of U.K.-based PEPs


The Financial Conduct Authority announced the scope of its review into the treatment of U.K.-based politically exposed persons, the latest development in response to the Nigel Farage “debanking” scandal.


News Brief

FCPA opinion shines light on reasonable expenses for foreign officials


A Foreign Corrupt Practices Act review published by the Department of Justice offers further clarity around when the agency would determine expenses paid on behalf of a foreign official to be deemed “reasonable and bona fide.”



Large companies in crosshairs early under German Supply Chain Act


Amazon, IKEA, and Volkswagen were among the companies targeted in the first round of complaints under the German Supply Chain Due Diligence Act—an early indication nongovernmental organizations will seek to hold big businesses accountable for alleged human rights violations.