Avaya Holdings disclosed its assessment of internal control over financial reporting in its fiscal year 2021 annual report can’t be relied upon, along with acknowledging weaknesses in its ethics and compliance program.
Adam Rogas, the former CEO of cyber-fraud prevention company NS8 who was sentenced to five years in prison for fraud, now faces charges of impeding and retaliating against a whistleblower following an amended complaint from the Securities and Exchange Commission.
The Department of Justice requested Rennova Health repay Covid-19 relief funds it received in 2020 as part of a whistleblower lawsuit against the healthcare services provider alleging ineligible use of the money.
A U.K. employment tribunal’s ruling that a former BP employee was not entitled to whistleblower protection has shone a spotlight on the legal issues workers must consider ahead of speaking up.
The Securities and Exchange Commission collected more than $6.4 billion in enforcement penalties, fees, and interest in fiscal year 2022—the largest amount in the agency’s history and a massive increase over a transition year in 2021.
The experience of Xavier Andre Justo—the former Swiss banker turned whistleblower in the 1MDB scandal—shows those who speak up about bribery and corruption are often the only victims of the supposed “victimless crimes” they report.
Modernizing Medicine paid $45 million to settle false claims allegations levied by the Department of Justice it received kickbacks and made improper payments to providers to increase its business.
Shaquala Williams, a compliance executive who sued JPMorgan Chase after she said she was fired for blowing the whistle on deficiencies in the bank’s anti-money laundering compliance program, agreed to settle her case.
Experts discuss the ramifications of Biogen’s $900 million settlement for False Claims Act violations, including the $266.4 million whistleblower bounty in the case believed to be the largest single award under any government program.
Oil and gas giant ExxonMobil must reinstate two previously fired employees and pay them more than $800,000 in back wages, interest, and compensatory damages after the Occupational Safety and Health Administration determined the terminations to be illegal.
Dominik Waszczynski, head of global compliance at Hellmann Worldwide Logistics, shares with Compliance Week the decision-making process that led to the company’s selection of a new and improved whistleblower hotline tool.
Biogen finalized a $900 million settlement concerning alleged kickbacks it paid to doctors to induce them to prescribe the company’s drugs and not those of its competitors.
A Florida-based investment fund will pay approximately $22,000 as part of a settlement resolving the first False Claims Act whistleblower case involving a Paycheck Protection Program loan in which the United States intervened.
Maintaining a speak-up culture requires increased attention from businesses with many employees still working remote, putting more of an onus on the reporting function, according to the latest NAVEX study.
Brent Brewbaker, a former executive for civil engineering firm Contech Engineered Solutions, was sentenced to 18 months in federal prison for his role in a long-running bid-rigging scheme in North Carolina.
Bayer agreed to pay $40 million to settle allegations its sales team paid kickbacks to hospitals and doctors for prescribing its drugs and that the pharmaceuticals company downplayed risks regarding certain of its offerings.
Wells Fargo must pay more than $22 million to a former senior banking executive who alleged to the Occupational Safety and Health Administration they were retaliated against for blowing the whistle on financial misconduct.
The Securities and Exchange Commission amended its rules to provide further incentives to whistleblowers, particularly in cases involving large payouts or multiple federal agencies.
Monique Thacker, a current HSBC Bank USA executive, claimed in a federal lawsuit she was discriminated and retaliated against for raising regulatory violations involving unauthorized communications by bank employees that were downplayed or ignored by management.
Essilor, a manufacturer and distributor of optical lenses and equipment, will pay $22 million to settle allegations it paid kickbacks to spur sales in violation of the False Claims Act.
Peiter Zatko, a former cybersecurity executive at Twitter, has blown the whistle on his observations of systemic data security lapses at the company, undercounting of fake accounts, and how the social media platform could be manipulated by foreign intelligence services.
Gold Coast Health Plan and three California county healthcare service providers will pay a total of $70.7 million to settle allegations they violated the False Claims Act regarding California’s Medicaid program, Medi-Cal.
How can a company prove its compliance bona fides to a regulator, should one ever come knocking on its door? The Home Depot has prepared for such a scenario with detailed guidance pegged to the DOJ’s “Evaluation of Corporate Compliance Programs.”
A jury could conclude allegations made by a former JPMorgan Chase compliance executive who said she was fired for blowing the whistle have merit, a federal judge ruled.
A federal appeals court has denied the whistleblower claims of a former Royal Bank of Scotland employee seeking compensation for a tip he said generated more than $10 billion worth of settlements.
Massachusetts-based biotechnology firm Biogen reached a $900 million agreement in principle to resolve a False Claims Act lawsuit brought by a whistleblower alleging the payment of unlawful kickbacks to physicians.
Aerojet Rocketdyne has agreed to pay $9 million to resolve allegations raised by a whistleblower that the aerospace and defense manufacturer misled the federal government regarding its compliance with cybersecurity requirements in certain contracts.
It is impossible to ignore the SEC’s $100 million fine against EY for employee exam cheating is double the amount the regulator penalized KPMG for its separate cheating scandal. Especially since the latter resolution appears to have served as a starting point for the SEC’s ruling on the former.
Ernst & Young will pay $100 million after admitting to SEC charges addressing systematic cheating among its accounting professionals on CPA license exams over four years. The fine is the largest the agency has ever imposed against an audit firm.
Final action by the Securities and Exchange Commission on its climate-related disclosure rule, whistleblower amendments, unimplemented elements of Dodd-Frank, and more could all take place by the end of the year, according to the agency’s spring agenda.
The Brink’s Company, a provider of security-related services, has agreed to pay $400,000 and add wording in U.S. confidentiality agreements to comply with an SEC rule regarding corporate whistleblowers.
Jaclyn Jaeger reflects on feedback received from former and current USAA employees following her three-part series detailing alleged violations of law and mismanaged compliance culture at the financial services giant.
Two years into its diversity, equity, and inclusion action plan, Best Buy leaders attended Compliance Week’s National Conference to discuss—in a refreshingly blunt manner—the retailer’s learnings.
Editor In Chief Kyle Brasseur recaps the moments that stood out to him most from Compliance Week’s first in-person event since 2019.
John Carreyrou, whose reporting exposed blood-testing company Theranos as a fraud, discussed the vital role lab director Adam Rosendorff and his other colleagues that came forward played as sources during a fireside chat at Compliance Week’s National Conference.
USAA Bank engaged in an estimated 400,000 violations of the Military Lending Act, a former director of compliance within the bank reported to the Office of the Comptroller of the Currency in documents seen by Compliance Week.
In exclusive interviews with Compliance Week, former USAA insiders describe a risk and compliance culture in which numerous individuals either were given the axe or quit because the problems were so endemic.
Senior executives at USAA ignored warnings from compliance staff and consultants for years regarding violations of U.S. federal banking laws and hid from regulators the scope of the company’s illegal practices, a former USAA director of compliance turned whistleblower told Compliance Week.
NAVEX’s 2022 “Hotline & Incident Management Benchmark Report” provides chief compliance officers with valuable insight into how their hotline and incident management program stacks up against their peers.
David Hansen, co-founder of Las Vegas-based software company NS8, agreed to pay $97,523 to settle charges from the Securities and Exchange Commission that he impeded a whistleblower’s attempt to communicate with the agency about a securities law violation.
Mia Reini, senior manager, corporate compliance and enterprise risk management at The Home Depot, previews her panel titled, “Proactive Response to DOJ Guidance—What to Expect from Regulators and The Home Depot Compliance Response” at CW’s National Conference in Washington, D.C. from May 16-18.
The “SEC Whistleblower Reform Act of 2022” proposes to shorten the wait time for a whistleblower to receive a payout by requiring the Securities and Exchange Commission to issue an initial ruling on a claim within one year of the deadline to file the claim.
Regulation and guidance from U.S. agencies and the White House, plus compliance challenges stemming from a two-year global pandemic and Russia’s ongoing invasion of Ukraine, made the first quarter of 2022 a novel risk environment for regulated businesses.
A bill that proposes to create a whistleblower program for the Public Company Accounting Oversight Board has been reintroduced to the House after failing to be acted upon by the Senate in 2019.
Pharmaceutical company Mallinckrodt agreed to pay approximately $260 million as part of a settlement announced by the Department of Justice for underpaying Medicaid rebates and violating kickback laws regarding its drug Acthar.
Andrew Russo, one of five whistleblowers to share their stories in CW’s “Witness to Wrongdoing” series, has finally received an award from the Securities and Exchange Commission, nearly six years after he filed his claim.
The Securities and Exchange Commission will seek to undo several changes to the agency’s whistleblower program enacted during the Trump administration to potentially limit large awards.
False Claims Act settlements totaled more than $5.6 billion in the past federal fiscal year, the second-largest amount ever collected by the government in FCA actions in one year, according to the Department of Justice.
The Supreme Court has declined to settle conflict between two federal court decisions on whether former employees are covered by whistleblower anti-retaliation protections contained in the False Claims Act.
Diversity, equity, and inclusion; prioritizing ESG; business continuity; and more highlight the latest edition of NAVEX’s annual list of risk and compliance trends worth monitoring.