Category: General

NAVEX’s 2023 State of Risk & Compliance Report: Compliance Steps Up

NAVEX’s 2023 State of Risk & Compliance Report: Compliance Steps Up

NAVEX’s annual report on the state of risk and compliance is a must read.  Each year NAVEX supplies helpful insights that compliance professionals, corporate managers and board members can use to benchmark their respective risk management and compliance strategies. This year’s survey reflects submissions from over 1300 respondents around the globe. A significant finding was an increase in respondents who characterized their respective programs as “mature,”...

Telehealth: A New Opportunity for Fraudsters

Telehealth: A New Opportunity for Fraudsters

Whenever new technologies emerge or new pots of government funds for assistance are available, you can count on one thing (as the sun rises and sets) – fraudsters will figure out a way to steal money from innocent persons and taxpayers.  While everyone has been chasing the cryptocurrency boom, fraudsters have embraced crypto technology to rip off unsuspecting investors with promises of wealth.  For every...

Happy 4th of July

Happy 4th of July

From everyone at The Volkov Law Group, we wish a Happy 4th of July holiday to our clients, colleagues, friends and family. We hope that everyone has a restful holiday and enjoys some time with family and friends. Our blog will resume on Wednesday, July 5, 2023, and our Podcast Corruption Crime and Compliance will return on Monday, July 10, 2023.

DOJ Arrests 78 Defendants in Nationwide Crackdown on Healthcare Fraud

DOJ Arrests 78 Defendants in Nationwide Crackdown on Healthcare Fraud

Healthcare fraud continues to plague the industry – each year Medicare and Medicaid suffer over $100 billion in losses from fraudsters. Prosecuting fraud cases in the healthcare industry is like shooting fish in a barrel – there are an infinite number of targets. To publicize its efforts, each year, DOJ executes multiple nationwide takedowns, rounding up healthcare fraudsters across the nation.  In its most recent...

The Unique Elements of Healthcare Compliance Programs (Part II of II)

The Unique Elements of Healthcare Compliance Programs (Part II of II)

Corporate compliance programs in the healthcare industry include many of the same elements that we are all familiar with – risk assessments, code of ethics, written policies and procedures, comprehensive training requirements, confidential reporting and investigation systems to address employee concerns, gifts, meals, grants, and medical education programs, and audit and review processes to maintain a continuous improvement program. Aside from this standard list of...

The Challenge of Healthcare Compliance Programs (Part I of II)

The Challenge of Healthcare Compliance Programs (Part I of II)

If you are a compliance officer for a healthcare provider (e.g. hospital, HMO, skilled nursing facility, hospice center), you must sometimes feel that no one understands or feels your pain.  When you consider the number and extent of risks, it can be mind-boggling.  I am sure there are times that compliance officers in the healthcare industry look wistfully or even with envy at a compliance...

The Inextricable Link Between Ethical Culture and Profitability

The Inextricable Link Between Ethical Culture and Profitability

Corporate governance frameworks seek to maximize management efficiency, risk mitigation, and business success.  The most important tool for accomplishing these objectives is straightforward – a Culture of Ethics and Compliance.  Business leaders have found religion and started to embrace a culture of ethics as an engine for success. Compliance professionals have been singing this song for years.  Suddenly, corporate leaders are starting to ask questions...

Jessica Sanderson Presenting at Compliance Week’s Third-Party Risk Management Oversight Summit

Jessica Sanderson Presenting at Compliance Week’s Third-Party Risk Management Oversight Summit

Volkov Law partner Jessica Sanderson will be speaking at next week’s “Third-Party Risk Management Oversight Summit,” hosted by Compliance Week in Atlanta. There is still time to register! Jessica will be moderating a panel on Tuesday, June 27, 3:20-4:10pm discussing, “Best Practices to Ensure Sanctions Compliance,” and will be a panelist on Wednesday, June 28, 11:20am-12:20pm discussing “The Ins and Outs of Third-Party Compliance Audits.”...

Swedbank Latvia Settles with OFAC for $3.43 Million for Crimea Sanctions Violations

Swedbank Latvia Settles with OFAC for $3.43 Million for Crimea Sanctions Violations

OFAC continues its enforcement push.  At the same time, OFAC is managing a complex, global set of sanctions against Russia.  DOJ has promised to increase prosecution of global banks for sanctions violations. Meanwhile, OFAC reached another settlement with Swedbank Latvia AS (“Swedbank Latvia”), which is a subsidiary of “Swedbank AB”, a global bank headquartered in Stockholm, Sweden. Swedbank Latvia agreed to pay $3.43 million to...

Artificial Intelligence: The New Exponential Threat

Artificial Intelligence: The New Exponential Threat

With the recent release of ChatGPT, we are witnessing the exponential adoption of a new technology, new “large language models” (LLMs) that without question will transform society.  It reminds me of the famous computer character, “Hal,” from 2001 Space Odyssey.  We all recall the introduction of computers, the first use of browsers, and the famous dial-access to AOL.  Within years, the “dot.com” explosion occurred. We...