Capital One Whacked on AML Failures

By Matt Kelly | January 17, 2021 |

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…

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compliance jobs

Compliance Jobs Report: Jan. 15

By Matt Kelly | January 15, 2021 |

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…

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Radical Compliance

Radical Compliance Turns 5

By Matt Kelly | January 14, 2021 |

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…

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Trust

2021 Edelman Report: Businesses Have Trust

By Matt Kelly | January 13, 2021 |

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,…

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Deutsche Bank

Deutsche Bank Control Failures Cost $130M

By Matt Kelly | January 10, 2021 |

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.…

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compliance jobs

Compliance Jobs Report: Jan. 8

By Matt Kelly | January 8, 2021 |

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…

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trump

Trump, the Coup, and Corporate Ethics

By Matt Kelly | January 7, 2021 |

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…

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ethics

On Ethics, Ethics Czars, and Success

By Lisa Schor Babin | January 6, 2021 |

I recently watched The Oprah Conversation with Barack Obama about the writing of his new memoir, The Promised Land. Oprah Winfrey asked the former president about his eight-year scandal-free administration (tan suit excepted), and Obama reflected: “I am very proud of the fact that we didn’t have a whiff of scandal while we were in…

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UBAF

OFAC Dings Bank $8.5M on Sanctions

By Matt Kelly | January 5, 2021 |

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…

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2021

Five Compliance Events to Watch in 2021

By Matt Kelly | January 3, 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…

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About Us

Technically, Radical Compliance is the personal blog of Matt Kelly, long-time writer and observer of the corporate compliance and GRC scene. I was a writer, editor, and publisher at Compliance Week, 2003 through 2015; some of you may know me from my career there. I also speak frequently at compliance conferences and other events, and will pretty much shoot the breeze on any compliance topic with anyone who asks.

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