Category: Podcasts

22 Apr, 2018

Episode 35 –Update on AML Compliance from Recent AML Enforcement Actions

In the early part of 2018, the Justice Department brought two significant AML criminal enforcement actions against US Bancorp and Rabobank, respectively. These two cases, coupled with the new beneficial ownership regulations effective May 11, 2018, raise significant changes in the AML compliance and enforcement landscape. In addition, the SEC and FINRA brought AML enforcement actions against Aegis Corporation and three individuals, two of whom were...

Podcasts

14 Apr, 2018

Episode 34 — The Cohen Criminal Investigation and Search Warrants

On August 9, 2018, FBI agents executed search warrants at Michael Cohen’s office, hotel, residence, safety deposit box and electronic devices. Since then, we learned that the US Attorney’s Office in New York City have an ongoing criminal investigation against Michael Cohen. The full scope of this investigation has yet to be disclosed but it is clear that Cohen will face significant and serious charges....

Podcasts

8 Apr, 2018

Episode 33 — Bitcoin, Cryptocurrencies and Compliance — Interview of Matt Stankiewicz

Cryptocurrencies, including Bitcoin, are exploding on the marketplace. Cryptocurrencies are promising huge technological advances in our economy by relying on the new blockchain technology. Initial coin offerings raised $7 billion in capital last year, and this year ICOs are expected to raise over $20 billion in capital. Bitcoin and other established cryptocurrencies have increased in value. Bitcoin reached a high of nearly $20,000 and is now trading just...

General / Podcasts

1 Apr, 2018

Episode 32 — Ten Steps to Prepare Your Company for Execution of a Search Warrant

As part of the aggressive enforcement of white collar crime cases, federal law enforcement officers are executing more search warrants at company offices. Companies should plan in advance for such an event. A company can learn valuable information about an ongoing investigation. Just as important, company officials have to preserve and assert objections when federal agents conduct a search. In this episode, Michael Volkov outlines...

Podcasts

25 Mar, 2018

Episode 31 — Doing Business in Haiti: Interview of Angelo Viard

Haiti continues to suffer from significant corruption. In Transparency International’s recent Corruption Perception Index, Haiti ranked 157 out of 180 countries on the corruption perception index. Angelo Viard, a longtime expert in business development in Haiti sees a different picture — business opportunities in Haiti are present but corruption risks have to be acknowledged and addressed. Angelo Virad provides practical insights on how to navigate...

Podcasts

18 Mar, 2018

Episode 30 — Common Due Diligence Problems (Part III of III)

Companies continue to face significant risks from their third parties. In response, companies are implementing sophisticated due diligence and third party risk management systems. FCPA enforcement risks are only one of several risks created by a company’s third parties. Companies have to screen and review their third parties for corruption, sanctions, money laundering, antitrust, human trafficking, child labor and reputational risks. In this three-part series,...

Podcasts

11 Mar, 2018

Episode 29 — Building Blocks for an Effective Due Diligence Program (Part II of III)

Podcasts

4 Mar, 2018

Episode 28 — Due Diligence and Third Party Risk Management (Part I of III)

Podcasts

25 Feb, 2018

Episode 27 — Internal Controls and Enforcement Risks

The FCPA includes a specific requirement that a public company maintain an adequate set of internal controls. A company’s compliance program is one component of a company’s internal controls. Sarbanes-Oxley expended and reinforced this important requirement. The Department of Justice and the SEC have aggressively enforced the internal controls requirement. The SEC, in particular, has expansively enforced the internal controls requirement even where a failure...

Podcasts

18 Feb, 2018

Episode 26 — Federal Reserve Blocks Wells Fargo Growth In Response to Governance and Risk Management Disaster

In an unprecedented action, on February 2, 2018, the Federal Reserve restricted Wells Fargo’s ability to grow its business until it implements comprehensive improvements to its board governance and risk and compliance systems. Citing Wells Fargo’s poor record of governance and risk management resulting in the community banking sales incentive scandal and continuing problems at the bank, the Federal Reserve imposed detailed governance and risk...