The U.S. Justice Department has formally launched its whistleblower awards program to encourage tips about corporate crime, complete with a dedicated website where whistleblowers can submit their tips and new policies that might let companies reap the benefit of self-disclosure even if whistleblowers report the misconduct first. Deputy attorney general Lisa Monaco unveiled the awards…
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Boeing reported second-quarter earnings today, which were predictably awful given the company’s safety and compliance lapses. So now seems like a good time to ponder the company’s recent promise to the Justice Department to increase spending on compliance efforts by $455 million over the next three years. What’s that all about? As you may recall,…
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The Securities and Exchange Commission issued a $37 million whistleblower award last week, and before the case fades from memory compliance officers should give it a close look; the details offer a useful glimpse into the importance of getting internal reporting systems right. The award was handed out on July 26, and as usual we…
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Pull up a chair, compliance officers! We finally have a text of the Justice Department’s plea agreement with Boeing for the company’s violation of its 2021 deferred-prosecution agreement. Let’s see what the compliance team and senior management have promised to do to improve the company’s misbegotten corporate culture. The basic terms of the plea agreement,…
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We have an abbreviated Compliance Jobs Report this week since I’m on vacation, but still lots of news from Barclays, Comcast, Marqeta, USAA, Hertz, and more. Our job leads are in healthcare, higher ed, and special investigations; and Meme of the Week goes out to sustainability officers! Always remember that we need your help to…
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There are decades when nothing happens, and weeks when decades happen. Last week was definitely one of those latter periods for CISOs, internal auditors, compliance officers, and anyone else charged with worrying about cybersecurity. Just consider what happened last week: On Tuesday, UnitedHealth reported spending nearly $1 billion on recovery costs from a ransomware attack…
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The Compliance Jobs Report this week has news from Facebook, Nissan, Truist, PIMCO, Salesforce, a bunch of insurance and fintech firms, and lots more! Our job leads are in software, higher education, and pharmaceutical services; and Meme of the Week goes out to AI governance! Always remember that we need your help to make the…
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A federal judge has dismissed a high-profile lawsuit that the Securities and Exchange Commission filed last year against software firm SolarWinds and its chief information security officer, finding that SEC rules requiring companies to have strong internal accounting controls cannot be interpreted to include cybersecurity measures. The SEC filed its lawsuit against SolarWinds and the…
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The Institute of Internal Auditors is holding its annual global conference this week in Washington, D.C., which of course means publication of a long, ponderous study about the current and future state of the profession. This study’s findings, however, point to some deeper truths about the internal audit profession that merit attention. Let’s take a…
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UnitedHealth filed its latest quarterly earnings report today, complete with an update on the staggering costs of a ransomware attack the healthcare giant suffered earlier this year — and if anyone needs a fresh example of how cyber attacks can tie your company into compliance knots, pull up a chair. The attack itself happened in…
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