Compliance Week

The U.S. Department of Justice received more than 200 whistleblower tips since it launched its long-awaited?Corporate Whistleblower Awards Pilot Program?on Aug. 1, according to the program’s Acting Director Patrick Gushue in a Compliance Week exclusive. Gushue will speak on a Compliance Week?webcast?about the pilot program this Thursday at 11 a.m. E.T. The pilot program provides a pathway for corporate insiders to report misconduct in four areas: foreign corruption, crimes involving financial institutions, U.S.-based corruption, and fraud involving private insurers not covered by?qui tam?recovery under the False Claims Act. The 200+ tips received so far span all four types, Gushue said. Register here: https://lnkd.in/g5_SvrJM ?? #DOJ #whistleblowers #webcast #risk #riskmanagement

?? Upcoming Compliance Week Webcast: The DOJ’s Corporate Whistleblower Program: What we’ve learned and how it can change In the future ??? Date & Time: November 21, 2024, at 11 am ET Whistleblowers are essential to law enforcement, and the DOJ’s whistleblower awards program incentivizes individuals to step forward. As the U.S. prepares for a new administration, we'll examine the DOJ’s historical handling of whistleblowers and discuss what might come next. ? Key Takeaways ?? The impact of corporate whistleblowers on law enforcement. ?? An overview of the DOJ’s whistleblower program’s history and objectives. ?? How the government's stance toward whistleblowers could evolve in the coming years. ??? Featuring: Patrick Gushue, Acting Director of the U.S. Department of Justice (DOJ), Corporate Whistleblower Awards (CWA) Pilot Program Register now: https://ow.ly/Zg2Z50U853x

If your business uses leather, rubber, wood,?beef, palm oil, soy, or paper, then you may need to comply with the EU Deforestation Directive, a new rule intended to ensure that no goods traded in the EU contribute to global deforestation. Even if a company does not operate directly in the EU, you may be asked to supply data and provide assurance that your products do not come from deforested areas if you supply EU-based companies. The directive, which was passed in 2023, is intended to reduce the EU’s contribution to global forest degradation. It is part of a broader action plan first?outlined?in the 2019 Commission Communication on Stepping up EU Action to Protect and Restore the World’s Forests. The new directive was supposed to come into force on Dec. 30, but the EU Parliament agreed today to delay it by 12 months to give those in scope more time to prepare. Micro and small enterprises will have until June 30, 2026. The Official Journal of the European Union stated when the directive was passed that “deforestation and forest degradation contribute to the global climate crisis in multiple ways. … Deforestation alone accounts for 11 percent of greenhouse gas emissions.” Read the full story from Ruth Prickett at the link below. #deforestation #Europe #EuropeanUnion #sustainability #ESG #policy

Law enforcement officials stumbled on TD Bank’s role in money laundering while investigating a Mexican drug cartel. They found that the bank’s corporate culture considered compliance, particularly Bank Secrecy Act and anti-money laundering compliance, a low priority. As they dug deeper, authorities discovered that multiple money laundering schemes had infiltrated the bank’s network. When announcing a blistering series of?fines totaling nearly $3.1 billion?against the Toronto-based bank, regulators said the bank’s AML compliance program had failed to grow along with the emerging risks that came with TD Bank’s expanding business. The failure was so widespread that regulators believe the company’s leadership, including its board of directors, had made a purposeful decision to underfund compliance, instead prioritizing growth and higher profits. “TD Bank prioritized growth and convenience over following its legal obligations,” said U.S. Attorney Philip Sellinger for the District of New Jersey. That decision to underfund AML compliance allowed the bank’s AML program to atrophy, causing huge backlogs in transactions monitoring and the compiling of suspicious activity reports. The signs were there, and numerous red flags were popping up across TD Bank’s business—like when money launderers purchased more than $1 million in official bank checks with cash in a single day at one TD Bank branch in 2021. Read the full story from Aaron Nicodemus at the link below. #TDBank #compliance #banking #antimoneylaundering #AML #BankSecrecyAct #BSA #culture

With the presidential election today, one fear has remained on the minds of voters regardless of their political stripe–that artificial intelligence will be misused to change the outcome of the race. A majority of Americans worry about AI influencing the presidential election,?according to a recent Pew Research Center?study. And for good reason. AI is relatively inexpensive and easy to use, and has spread like wildfire among legitimate businesses and bad actors. Once AI content is created, social media and the internet make it quick and easy to disseminate, said Samantha Rothaus, partner in Davis+Gilbert LLP’s advertising and marketing practice. Read Adrianne Appel's full story at the link below. #artificialintelligence #AI #GeneralElection #election #vote #riskmanagement #deepfakes

Join us at the Compliance Week Cyber Risk & Data Privacy Summit, February 10-11, 2025, in Alexandria, Virginia! This summit brings together top legal, compliance, and risk professionals to exchange ideas, share experiences, and explore best practices for tackling today’s most pressing cybersecurity and data privacy challenges. In an era where safeguarding sensitive information is paramount, these discussions couldn’t be more timely or essential. Register now: https://ow.ly/L3Jy50TXkbo

Concerns about how robustly European member states may enforce the EU AI Act, which took effect on Aug. 1, are divided between if regulators will take a “light touch” approach or a sledgehammer for noncompliance. One thing’s for sure, the pace of AI innovation will make enforcement very difficult. Europe may be at the forefront of putting rules in place to prevent AI from causing harm to consumers, but it does not necessarily follow that regulators will have much appetite or capacity to enforce these rules or that companies know how to comply with them. Part of the problem is that the act leaves it up to individual countries to decide whether they want to set up their own dedicated AI regulator to oversee use, or whether they want an existing authority–namely, data protection authorities (DPAs)–to add AI monitoring to their remit. Critics have pointed out that many DPAs are already bowing under the pressure of dealing with a growing number of complaints relating to the General Data Protection Regulation. Lengthy investigations, coupled with cumbersome procedures (particularly in cross-border cases), has put a strain on many DPAs’ budgets, leading to wide variances in enforcement approach across the EU bloc. The idea that data regulators will now also need to hold companies to account for AI misuse and abuse makes it difficult to see how they might enforce the AI Act effectively. Read Neil Hodge's full story at the link below. #Europe #EuropeanUnion #artificialintelligence #AI #dataprivacy #GDPR #AIAct #policy

We are thrilled to share the first three events for Compliance Week 2025! Mark your calendars: 1?? Cyber Risk & Data Privacy Summit - February 10-11 at Hotel AKA, Alexandria, VA. Dive deep into the latest updates and strategies for managing cyber risks and data privacy. 2?? Ethics & Compliance Summit - March 19-20 at Boston University, Boston, MA. Explore best practices for fostering a strong compliance culture within your organization. 3?? 2025 Compliance Week National Conference - Celebrating 20 Years! - April 28-30 at the Mayflower Hotel, Washington, DC. Join us for our milestone event as we celebrate two decades of excellence in compliance! We are currently accepting speaker proposals and sponsorship inquiries for these events! If you're passionate about compliance and want to share your expertise, or your organization is interested in partnering with us, we'd love to hear from you! Please reach out to Meredith Anastasio at [email protected]. Let’s make Compliance Week 2025 our best one yet! ??? #ComplianceWeek #ComplianceEvents #SpeakerOpportunities #Sponsorships #Networking

?? As day 2 of Compliance Week Europe draws to a close, we reflect on an incredible event with a broad array of discussions, insights and speakers! Today, we explored key topics, including regulating AI, fraud considerations, fighting money laundering across the EU, avoiding sanctions circumvention, cybersecurity & digital resilience and more. Our expert panellists delved into practical solutions for navigating compliance challenges and enhancing corporate governance. A heartfelt thank you to all our speakers, attendees, and sponsors for making this event a success! Interested in attending in 2025? Fill in our form here to be kept up to date with details for Compliance Week Europe 2025: https://lnkd.in/e8jGQBHB Thank you to all our partners: Collaboration Partner: International Compliance Association Key Partner: Skillsoft Premium Support Partners: Control Risks and Norton Rose Fulbright Exhibition Partners: Kroll, Case IQ, and European Compliance & Ethics Community (ECEC) ? #ComplianceWeekEurope #Compliance #GRC #Risk #Amsterdam?

Increasingly complex environmental, social, and governance rules in the European Union have companies big and small scrambling to comply. So far, while the rules have been spelled out in a series of directives around due diligence and sustainability reporting, what’s not so clear is what businesses should be doing now. And, perhaps even more vexing, it’s unclear?what the evolving role of a compliance officer?in enabling business continuity and growth in the midst of such radical incoming regulatory requirements. These questions around risk and resources are among the many issues likely to be discussed by compliance professionals and experts during?Compliance Week Europe, a two-day conference in Amsterdam starting today. The conference brings together Compliance Week and its sister organization, the International Compliance Association, and more than 200 GRC professionals across tech, banking, media, manufacturing, and healthcare to help discuss how they’re making sense of a constantly changing business environment. Read the full story at the link below. #ESG #reporting #regulation #compliance #ethics #CS3D #CSRD #impact #sustainability #carbonfootprint