Posts by Matt Kelly
Capital One Whacked on AML Failures
Talk about mistakes that come back to haunt you: Capital One just agreed to pay a $390 million penalty for anti-money laundering compliance failures in a check-cashing unit the bank hasn’t even owned for seven years. The settlement was announced by FinCEN last Friday. The 22-page statement of facts is a tale of poor risk…
Read MoreCompliance Jobs Report: Jan. 15
Another big and brisk Compliance Jobs Report. We have new hires at Sephora, BitGo, Torc Robotics, Facebook and several others; plus a bundle of promotions and a chief compliance officer joining a corporate board. (More of that, please.) Job openings in entertainment, industrial equipment, and underwear; and our Meme of the Week goes out to…
Read MoreRadical Compliance Turns 5
We interrupt our usual stream of news and analysis about corporate compliance to note a milestone: Radical Compliance turned five years old the other day, and this post is our 1,000th piece of content for the community we love so much. Our very first post was published on Jan. 1, 2016, announcing Radical Compliance to…
Read More2021 Edelman Report: Businesses Have Trust
The Edelman Trust Barometer for 2021 just dropped today, and it continues to be a thought-provoking document for ethics and compliance professionals. The bottom line: people around the world distrust just about every institution except their own employer. So corporate compliance officers should turn that point to your advantage. The Edelman report arrives every January,…
Read MoreDeutsche Bank Control Failures Cost $130M
You may have missed this while watching the coup attempt, but Deutsche Bank settled FCPA charges last week with $130 million in penalties and disgorgement, a three-year deferred-prosecution deal, and lessons a-plenty about the perils of leaving internal control duties with operations executives in the First Line of Defense. The settlement was announced Friday afternoon.…
Read MoreCompliance Jobs Report: Jan. 8
Our first Compliance Jobs Report of 2021! We have news from Eli Lilly and GSK, Tennant Co. and IKEA, Getinge and Halliburton, and many more. Job leads this week up and down the East Coast, and our Meme of the Week goes out to the vice president. As always, thank you to all the compliance…
Read MoreTrump, the Coup, and Corporate Ethics
Corporate America might be hoping that the difficult issues raised by President Trump’s attempted coup this week and the remaining days of his term will somehow pass them by. Too bad. What Trump has unleashed isn’t something businesses will be able to avoid. In several practical ways, dealing with Trump and his minions — both…
Read MoreOFAC Dings Bank $8.5M on Sanctions
We have our first enforcement action of 2021 to review: an $8.5 million fine that the Office of Foreign Assets Control slapped against a French bank for sanctions violations related to Syria, with a detailed list of compliance reforms the bank implemented to avoid harsher penalties. OFAC announced the enforcement action on Monday against Union…
Read MoreFive Compliance Events to Watch in 2021
That’s it, folks: the hellish 365 days otherwise known as 2020 is now over. It was a brutal, bitter year; and the consequences of pandemic, recession, and political rancor will echo for years to come. Those consequences, however, will start to come immediately. So before we return to the grind of emails to answer and…
Read MoreCompliance Jobs Report: Dec. 31
Welcome to the final Compliance Jobs Report of 2020! We have new hires this week at BMW, Sobi, Zai Labs, the AICPA, and others; plus internal promotions at Timken, MUFG, the City of Chicago, and Autodesk. Job openings to note in Washington, Texas, and Georgia; and our Meme of the Week is just a happy…
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