Author: Michael Volkov

Welcome to New Sponsor Trulioo: A Leading Global Identity and Business Verification Provider

Welcome to New Sponsor Trulioo: A Leading Global Identity and Business Verification Provider I am proud to announce a new sponsor, Trulioo, a cutting-edge identity and business verification solutions provider.  Trulioo’s products assist global companies with identity verification for Know Your Customer (KYC) requirements and business verification for Know Your Business (KYB) due diligence around the world. Trulioo offers cutting edge solutions that take a new...

Cybersecurity and Third-Party Risks

Global companies are getting compliance overload, especially when it comes to third party risks.  As we have seen over the years, third-party risk management involves significant risks on anti-corruption, AML, fraud, sanctions, human trafficking and a host of other threats to a company’s reputational standing. But that is not all – you have to add cybersecurity to the list of third-party risk management issues.  Why?...

The Convergence of Cybersecurity, Compliance, and Enterprise Risk Management

When you survey business leaders on significant risks, they invariably cite cybersecurity as number one and anti-corruption as number two.  For global businesses, this makes total sense.  Cyber-crime damage is estimated to hit $6 trillion annually by 2021, according to a study by Cybersecurity Ventures (here).  Information security and prevention are now required to protect a company from serious financial and operational harm. We are...

Cybersecurity Threats and Risks

Companies are correctly focused on cybersecurity risks.  Notwithstanding this focus, companies are struggling with how to respond to threats and risks.  Cybersecurity threats are quickly evolving – akin to the time when countries engaged in military arms races.  As they evolve, companies have to embrace proactive strategies and cannot rely on a compliance strategy that reacts to events and threats. Cyber criminals are quickly embracing...

Renewing Corporate Vows to the Chief Compliance Officer

Our goals can only be reached through a vehicle of a plan, in which we must fervently believe, and upon which we must vigorously act. There is no other route to success — Pablo Picasso The chief compliance officer is at an important professional juncture – 2018 is an important year for the profession.  In this era of growth, and after corporate tax relief, companies...

Episode 22 — Testing and Evaluation of Your Compliance Program

As more companies implement ethics and compliance programs, chief compliance officers are increasingly focusing on the need to test and evaluate their compliance program.  An effective testing program provides important information that compliance officers can use to improve their respective compliance programs. In this episode, Michael Volkov and Jacqui Merrill, Senior Counsel at the Volkov Law Group, discuss how to test and evaluate your compliance...

The Need for Anti-Money Laundering Regulatory Reform

It is rare these days for Republicans and Democrats to agree on political priorities – another profound grasp of the obvious.  Recently, on Capitol Hill there appears to be some common ground on the issue of reforming AML laws and regulations. The motivation is to make financial AML regulations “smarter” and increase focus on beneficial ownership, terrorist financing and proactive detection of money laundering.  Some...

Financial Institutions Are Playing Catch-Up in AML and Sanctions Compliance

Compliance officers are a much more collaborative group of professionals than lawyers.  Compliance officers share information with colleagues about compliance experiences, best practices and strategies.  The compliance industry benefits from this sharing of information. On occasion, however, this sharing of a company’s performance in one area can lead to unfair judgments by a recipient of the information.  For example, one company may conduct an in-depth...

Webinar: How to Implement an Effective Internal Investigation Program

Webinar: How to Implement an Effective Internal Investigation Program Tuesday, February 6, 2018, 12 noon EST SIGN UP HERE An effective ethics and compliance program depends on an efficient internal investigation function. Corporations have to design and implement an internal investigation system that is fair, timely and reliable. To do so, companies need to identify risks, assign resources, monitor investigations and mete out disciplinary actions....