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CCI's Weekly Round-Up of GRC News, Views, Jobs & Events
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June 10, 2021
by Sandra Erez

...A scandal can serve as a good scare tactic in that it sends fear shivering through boards of directors, reminding them that AML noncompliance can be a risky business in a shifting sea of regulatory enforcement. Every time huge fines rain down from thunderous regulatory skies on an errant firm, compliance officers in organizations in the same sector suddenly remember to huddle under their colorful “tick the box” compliance umbrellas so they can hire more compliance staff and scribble new AML policies. Too often these will be forgotten when the media storm passes and the ice water in management’s veins begins to thaw...
Read Sandra's column
TOP NEWS THIS WEEK

DOJ Is Getting More Imaginative with False Claims Act Enforcement and Hitting a Growing Range of Organizations

The DOJ began casting a wider net for False Claims Act enforcement years before the pandemic broke out. Now with large-scale suspected EIDL and PPP fraud, companies need to double- and triple-check the accuracy of their applications or face the inevitable consequences.

Financial Crime Compliance Costs Spiked 33% in 2020. Will They Correct in 2021?

Between COVID-19 disruptions, KYC challenges, paused account onboarding and altered due diligence practices, 2020 saw financial crime compliance costs increase by roughly one-third. It remains unclear to what extent those trends will continue this year.

Compliance Career Connection Announces Full Line-Up of Virtual Networking Events for Remainder of 2021

If you're in the job market -- or want to help those who are -- take note: registration is now open for virtual networking opportunities, including "speedy meets," resume feedback and mock interviews. These events are for job seekers AND those who want to "give back" by helping others. Get the scoop on CCC here. If you've attended a CCC event, you know they're relaxed, laid-back and fun. Learn more and sign up here. The next event is June 21.

THE ETHICAL LEADER

Yan Tougas, Global Ethics & Compliance Officer at Raytheon Technologies, writes:

"I don’t really know how to talk about business ethics to my team."

This is a phrase that many ethics and compliance professionals have heard from front-line supervisors. They are afraid of sounding preachy. Or of not knowing the answers. Or looking soft.
If you are one of these supervisors, here’s an easy way to start. Read More...


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This survival kit includes THREE indispensable resources:

  1. eBook: Guide to Avoiding a Failed GRC Implementation Project
  2. On-Demand Webinar: When GRC Implementation Goes Horribly Wrong
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