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Congress and the Blockchain: The 2018 Joint Economic Report’s Discussion on Cryptocurrency

Corruption, Crime & Compliance Blog -

Matt Stankiewicz, an Associate at The Volkov Law Group, rejoins us as a guest contributor for another posting on cryptocurrencies.  Matt can be reached at

A few days ago, Congress released its 2018 Joint Economic Report.  As many of you know, the Joint Economic Committee prepares this report as a national assessment of the country’s economic status.  The report often assesses the implications of a variety of economic factors and variables relevant to the United States economy.

In this report, Congress noted that the emergence of cryptocurrencies should be listed among the most significant economic events of 2017 – right amongst the “passage of tax reform, regulatory reform, [and] the continued drop in unemployment.”  This makes sense to many that have been following the industry, though it’s odd to see cryptocurrency within the stodgy pages of a major Congressional committee report.

At a high level, the dedicated chapter was very well sourced and presents a lot of general information on cryptocurrency and the blockchain.  For those that don’t have a good grasp on the technology, it also includes a very brief primer on what the blockchain is and provides some basics on the mechanics.  The report introduces such key terms as “proof of work” and “smart contracts.”

What was especially refreshing about the report is the Joint Committee’s realization that the blockchain will have far greater impacts in areas other than “currency.”  While the aim to create a digital, decentralized currency was the catalyst that gave rise to the technology, its potential is so much more.  Here, the report discusses applications in the health care sector including the (relative) ease of attaching medical records to the blockchain in an encrypted manner that would comply with HIPAA and allow them to move with the patient through the use of their smart phone.  Other possible cases include the sharing of power between local microgrids of solar panels or tracking products through the supply chain to verify accuracy.  The use cases are immeasurable, with Congress noting that certain projects “could transform the way the internet and technology works for decades to come.”

The report also notes the benefits of raising capital through Initial Coin Offerings (“ICOs”) while also championing the benefits of compliance by making a stark business case.  The report briefly explored the cost differences between an ICO and an Initial Public Offering (“IPO”).  IPOs can cost between four- to seven-percent of the raised capital and another $4.2 million in accounting costs, not to mention more than $1 million annually to maintain the publicly listed status.  An ICO, meanwhile, can raise a similar amount of capital in a shorter period of time, with an approximate cost of $60,000 with a third of that cost going towards legal costs to ensure regulatory compliance, with the added benefit of continually raising funds through network and transaction fees.  The cost of compliance is a drop in the bucket compared to the potential amount that can be raised, and is a crucial one considering the SEC’s newfound focus on the area.

The regulations themselves, as the Committee concedes, are a tangled mess at the moment and the Committee is encouraging regulators to coordinate to create a coherent framework.  Cryptocurrency has been classified in four different manners across the various regulatory bodies, as a commodity, a security, a currency, and as property.  Properly navigating the current tangle will allow entrepreneurs to quickly and effectively pursue innovation and increase economic growth.

The post Congress and the Blockchain: The 2018 Joint Economic Report’s Discussion on Cryptocurrency appeared first on Corruption, Crime & Compliance.

TRACE Podcast: Offsets: What on Earth?

Corporate Compliance Insights -

TRACE’s Alexandra Wrage interviews Bill Steinman of Steinman & Rodgers. Bill provides a primer on offsets and the compliance challenges they present.   The post TRACE Podcast: Offsets: What on Earth? appeared first on Corporate Compliance Insights.

(This is only a summary. Click on the headline to view the entire article at Corporate Compliance Insights and participate in the discussion.)

Webinar: A Review of FinCEN’s New Beneficial Ownership Regulations

Corruption, Crime & Compliance Blog -

Webinar: A Review of FinCEN’s New Beneficial Ownership Regulations Wednesday, March 28, 2018, 12 Noon EST Sign Up Here

After a lengthy implementation period, FinCEN’s new beneficial ownership regulations are about to become effective. Financial institutions are scrambling to meet a May 11, 2018 deadline.

FinCEN’s new regulations require financial institutions to implement important new beneficial ownership requirements as part of their customer due diligence procedures. The regulations raise important compliance issues that will need to be addressed. Financial institutions were afforded nearly two years to comply with the new regulations.

Join Michael Volkov, CEO of The Volkov Law Group, as he reviews the new regulations and addresses specific compliance issues.

The post Webinar: A Review of FinCEN’s New Beneficial Ownership Regulations appeared first on Corruption, Crime & Compliance.

Breaking News in the Industry: March 21, 2018

Loss Prevention Media -

Utah case could be tied to $500K underwear theft

Three people who investigators believe may be tied to a Chilean theft ring responsible for stealing more than $500,000 worth of merchandise from Victoria’s Secret stores in Las Vegas  have been convicted in Utah.William Orlando Pinzon Galindo, 41, pleaded guilt y on March 6 to theft by receiving stolen property, a third-degree felony. He was placed on probation and ordered to pay restitution.Omaira Reina-Martinez, 24, pleaded guilty the same day to theft by receiving stolen property, a third-degree felony; and having a fake ID, a class A misdemeanor. She was also given a suspended prison sentence, placed on probation and ordered to pay restitution. Francisco Ugarte Garcia, 22, pleaded guilty on Feb. 20 to theft by receiving stolen property, a third-degree felony. He is scheduled to be sentenced on April 3. The investigation into the trio began Jan. 24, when a car was pulled over on I-70 in Utah for doing 95 mph in a 75 mph zone and later 101 mph in an 80 mph zone, according to charging documents.

The car was searched by police because of a strong odor of marijuana coming from it, the charges state. Investigators reported finding “a large amount of new clothing, watches, bras, underwear” that still had their price tags and theft prevention devices on them. An agent from the State Bureau of Investigation was called to assist and served a search warrant on the vehicle the next day. That warrant was unsealed late last week. “It was discovered there had recently been a $500,000 theft ring in Las Vegas from Victoria’s Secret stores,” the warrant states. After contacting the head of security at the store, Utah investigators made a discovery. “These individuals are most likely part of a Chilean ring that has been committing thefts all over Las Vegas,” he warrant states. Reina-Martinez initially told investigators that the trio had purchased the clothing items with cash and thrown away the receipts and “that they planned to go to South America to open a store,” the warrant states.  [Source: KSL News]

Arrests made after mob steals $48K of handbags

San Francisco Police have arrested six suspects in connection with a snatch and grab robbery of over $48,000 worth of handbags from a store at San Francisco’s Union Square. Three suspects are still wanted for the robbery that happened on February 6 at a high-end fashion store located in the 100 block of Geary Street, according to the San Francisco Police Department. Within seconds of entering the store, nine suspects snatched more than 20 handbags and wallets from the display area. An employee attempted to close the door to stop the thieves but was unsuccessful, police say. He was rushed by the group and sustained an injury to his knee, and the assailants fled with over $48,000 worth of merchandise. Utilizing the store’s security surveillance system, police were able to arrest two of the wanted suspects, and arrest warrants were obtained, which led to the arrests of four additional suspects. One other suspect has not been identified. If you have any information on the outstanding suspects’ whereabouts, identities, or additional information related to this incident, please call the SFPD Tip Line at (415) 575-4444 or text a tip to TIP411 with SFPD at the beginning of the message. You may remain anonymous.  [Source: KRON4 News]

Six charged with identity theft scheme using card skimmers

Six Florida residents are accused of using card skimmers at Chicago-area gas stations to commit identity theft to the tune of more than $200,000.

 The group is accused of attaching skimming devices to gas station pumps in Cook, DuPage and Lake counties, according to a statement from the Illinois Attorney General’s Office. They used information stolen from customers’ cards to make fraudulent credit cards, which they used to spend $210,000 on gift cards and retail purchases. The suspects have used similar skimming devices in Michigan and Georgia, the attorney general’s office said.

An American Express fraud investigator noticed suspicious activity on multiple accounts in 2015 and traced all the cards back to a gas station in Glencoe. 

Charges of identity theft, financial institution fraud, theft by deception, conspiracy to commit a financial crime, computer fraud and mail fraud have been filed in Cook County against 45-year-old Caridad Chacon; 23-year-old Jordan Chacon; 24-year-old William Hernandez; 26-year-old Jose Molina; 23-year-old Claudia Chung Prieto; and 25-year-old Katerine Ramirez, prosecutors said. All of the defendants live in Tampa, Florida, except for Ramirez, who lives in Miami.

”This scheme is nearly impossible to detect by a customer, so it is critically important that people regularly monitor their bank and credit card accounts and report any unauthorized charges,” Attorney General Lisa Madigan said in the statement.   [Source: ABC7 Eyewitness News]

Employee accused of stealing $18K from store

A Glen Rock, New Jersey, woman, who was an employee at Kilroy’s Wonder Market, is accused of stealing nearly $18,000 from the store, police said.Police began an investigation March 9 into the theft of cash from the  store. Detective Lucas Doney arrested an employee Wednesday who police identified using the store’s surveillance system, said Chief Dean Ackermann. Store managers reported that the 26-year-old employee, Erin Marciniak, may have stolen the money by conducting fraudulent transactions at her register, Ackermann said. Detectives determined that slightly more than $12,000 was stolen, the chief said. Marciniak was charged with third-degree theft and released from police custody pending an appearance in Central Judicial Processing Court in Hackensack March 30.  [Source: Ridgewood Patch]

Police looking for 3 suspects who stole over 100 lottery tickets

Police in Menomonee Falls, Wisconsin, are looking for three people who stole more than 100 lottery tickets from a gas station. The theft happened just before 5 a.m. Saturday at the Speedway gas station, located at  N87W17245 Main Street. According to police, a woman entered the gas station and started talking to the clerk at the back of the store. She created a distraction by dropping and breaking a glass bottle. Meanwhile, two men entered the store. One of them went behind the counter and removed 18 “Crossword Craving” Wisconsin Lottery scratch-off tickets, then they both fled the store. A short time later, the woman exited the store without making any purchases.  If you have had similar incidents or can identify the suspects, please contact PO Eric Hansen with the Menomonee Falls Police Department at 262-532-8700 and refer to MFPD case 18-007274.  [Source: WTMJ4 News]

Two Ex-Florida Gators reach plea deal in credit card fraud scandal

Former Florida Gator linemen Jordan Smith and Kadeem Telfort both accepted plea deals Friday from the credit card scandal that ensnared nine football players last season. Both Telfort and Smith pled no contest to one third-degree felony charge of scheming to defraud, according to Alachua County court records. They each received two years of probation and must pay $521 in court costs. Telfort initially faced 30 felony complaints. The former four-star recruit and Miami native was accused of using stolen credit card information from at least 10 individuals to add $1,450 to his school bookstore account and purchase $89.48 in food from 352 Delivery. “Mr. Telfort is  very remorseful for the pain that his actions have caused,” his attorney, Peter Schoenthal said in a statement. “However, he is also grateful for the learning experience and for being given the opportunity to make those affected by his actions whole. Mr. Telfort looks forward to continuing his studies and his football career. Mr. Telfort will use this experience as a teaching point and be a positive influence going forward.”

Police accused Smith of being a possible “ringleader in the fraud case.” Smith faced nine formal felony complaints, according to court records. Police alleged that he used stolen credit card information to add $3,570 to his bookstore account and settle debts of $1,450 (UF transportation / parking) and $1,008 (apartment lease). Smith was a four-star prospect from Georgia who redshirted in 2016. Both left the program without playing a down. Telfort plans to continue his playing career at Garden City (Kan.) Community College. Smith and Telfort were the only two players accused of wrongdoing who did not receive pre-trial intervention in the case. Five of the nine players — running back Jordan Scarlett, linebacker James Houston, defensive lineman Keivonnis Davis, receiver Rick Wells and linebacker Ventrell Miller — have rejoined the team. The other two have either left for the NFL draft (receiver Antonio Callaway) or to pursue a transfer (lineman Richerd Desir-Jones). [Source: Sports]

The post Breaking News in the Industry: March 21, 2018 appeared first on LPM.

Best Practices to Reduce the Risk of Employee Fraud

Corporate Compliance Insights -

5 Steps to Prevent Loss Employee theft costs U.S. businesses an estimated $50 billion a year. For companies today, safeguarding against employee fraud should be a top priority. In this article we’ll explore a few ways that businesses can take steps to help protect themselves from fraud. Looking to keep your company safe? For any The post Best Practices to Reduce the Risk of Employee Fraud appeared first on Corporate Compliance Insights.

(This is only a summary. Click on the headline to view the entire article at Corporate Compliance Insights and participate in the discussion.)

Leadership Lessons from the Race to the South Pole

FCPA Compliance & Ethics -

The golden age of polar exploration lasted from about 1895 to 1912 during which time explorers raced to reach both the North Pole and South Pole. Even today those explorations and expeditions raise admiration and awe. Today, I want to discuss the race to the South Pole and what leadership lessons may be drawn from [...]

The post Leadership Lessons from the Race to the South Pole appeared first on Compliance Report.

Will U.S. Tax Reform Lure U.S. Companies Away from China?

BRINK News -

The changes to the U.S. tax system have created heated debate in China. Many fear that the reduction in the U.S. corporate tax rate may cause Chinese firms, or at least U.S. companies operating in China, to shift their operations to the U.S. to enjoy the new tax benefits.

However, this is highly unlikely for a number of reasons.

Firstly, the Chinese government still controls the behavior of Chinese corporates, especially as far as their offshore actions are concerned, as is clearly indicated by the increasingly draconian capital controls on corporates. This is not only true for state-owned Chinese companies but also for private ones, which has become clear with the massive crackdown on some iconic private conglomerates’ asset purchases offshore.

Even for foreign corporations, when faced with a choice between repatriating their profits or continuing to operate in China, the U.S. tax reform is unlikely to offer a strong enough reason to change.

China Has Lower Corporate Taxes …

The main reason for this is that their actual tax burden in China remains lower in China than it would be in the U.S., even after the tax reform.

In fact, China’s official corporate tax rate of 25 percent is really a maximum. For a small-sized or nonresident investor, the applied corporate tax is only 20 percent. Furthermore, if the company’s main business activities fit into the government’s priorities, such as high-tech, the applied corporate taxes may be further reduced to 15 percent with two years of exemption. More generally, China has a very flexible tax rate that can be easily adapted to fulfill its industrial policy or fight international tax competition. A good example is China’s recent announcement of a temporary tax exemption for foreign companies’ reinvested profits.

China’s major tax source is indirect taxes, including value-added taxes, consumption taxes and operation taxes. Corporate taxes only contribute to about 20 percent of China’s total tax revenue. However, even adding all types of taxes together, the tax burden for corporates in China is still lower than that of the U.S.

NATIXIS research’s own calculation of China’s effective corporate tax, using financial statements from 3,000 listed companies, was only 17 percent in 2016, which is clearly lower even than the U.S. new corporate tax ratio alone, which is 20 percent.

… And Lots of Subsidies

Taxes are only a small part of companies’ total expenses. In China, wages account for more than 35 percent of companies’ expenses, and given that wages in China are still much lower than in the U.S., there is even less incentive to move production from China to the U.S.

The game-changer for China is not likely to be President Donald Trump’s tax reform, but its own deteriorating fiscal situation.

Last but not the least, most Chinese local governments still offer subsidies to foreign corporates, especially the larger ones, which further eases their net tax burden. This has long been the way for local governments to compete among themselves to attract companies and create jobs in their regions. If companies were to consider leaving for the U.S., Chinese local government can easily increase their subsidies to buffer the negative effect.

China’s Big Problem Is Its Deficit

The fact that the U.S. tax reform does not constitute an immediate risk for China’s ability to keep corporates, even foreign companies, onshore contrasts with a much more important and worrying reality: namely China’s rapidly deteriorating fiscal position.  

The official fiscal deficit reached 3.7 percent in 2016 and is likely to worsen further. The situation is even more troubling considering local governments’ growing deficits. According to the IMF, China’s overall fiscal deficit is larger than 12 percent of GDP.

Taxes Likely To Rise

In such a weak fiscal situation, China has no room to further lower its effective corporate tax rate and, if anything, should increase it down the road—especially considering the authorities’ plans to enlarge the welfare system and the social security fund. China’s aging population will clearly push up pension and health expenditures, even without any increase in coverage.

Down the road, China’s deteriorating fiscal position may be much more detrimental than any threat from U.S. fiscal reform, as it can drag down investors’ confidence in the Chinese economy.

Reform Is Essential

Fiscal reform is badly needed to increase the tax base and leave room for welfare expenditure. As well as tax increases, certain other expenditures may need to be reduced, including corporate subsidies and other instruments of China’s industrial policy. The rapid increase in the cost of the Chinese government’s funding onshore shows that investors have already realized that China’s fiscal position is no longer strong.

Reform is becoming increasingly urgent. The game-changer for China is not likely to be President Donald Trump’s tax reform, but its own deteriorating fiscal situation.

This is the first in a three part series on the impact of the US tax reform.

DOJ Settles Follow-On FCPA Case: Transport Logistics Pays $2 Million Penalty

Corruption, Crime & Compliance Blog -

Last week, the Justice Department announced its first FCPA enforcement action in 2018 – a follow-on settlement from prior FCPA enforcement actions centering on a bribery scheme involving a Russian government official from a subsidiary of Russia’s State Atomic Energy Corporation.  Three individuals have been charged in connection with the bribery scheme.

Transport Logistics International, a Maryland company, entered into a deferred prosecution agreement and agreed to pay a $2 million penalty.  TLI is a logistics company involved in the transport of nuclear materials.  TLI’s penalty was reduced from $21 million to $2 million because of its inability to pay a fine.

TLI did not voluntarily disclose the conduct to the government but earned credit for its full cooperation and remediation of its compliance program.  Under the Justice Departments FCPA Corporate Enforcement Policy, TLI earned a 25 percent reduction from the bottom of the applicable sentencing guideline range.

TLI and others paid approximately $1.7 million to offshore bank accounts owned by shell companies to pay Vadim Mikerin, a Russian government official.  To disguise the payments, TLI used false invoices that described services that were never provided.  TLI wired payments to the shell company accounts in Latvia, Cyprus and Switzerland.

In 2015, TLI’s Co-President Daren Condrey plead guilty to FCPA conspiracy, while Mikerin plead guilty to money laundering.  Mikerin was sentenced to 48 months imprisonment.

In early 2018, TLI Co-President Mark Lambert was charged in an eleven-count indictment, including charges of FCPA conspiracy and wire fraud, seven counts of FCPA violations, two counts of wire fraud and one count of money laundering.

Mikerin was a director of TENEX, a Russian state-owned company, which supplied uranium and uranium enrichment services to nuclear power companies on behalf of Russia, and was the President of TENAM, a subsidiary of TENEX, and the US representative company.

TENEX routinely contracted with TLI to transport uranium to and from the United States.  Mikerin directed TLI executives to make payments to various offshore accounts in exchange for contracts.  Each payment was set at a percentage amount of an individual contract awarded to TLI.  Fake documents were prepared to record the payments as commissions.

In email messages amongst themselves, the defendants referred to the bribe payments as “cake,” “lucky figure,” “LF,” “remuneration,” or “commission.”  Most of the relevant email communications amongst the conspirators were conducted on personal email accounts.

TLI enhanced its compliance program and specifically focused on its invoice to payment controls.  Specifically, TLI adopted policies prohibiting: (i) payment to bank accounts that are not in the name of the company/vendor who is owed the payment; (ii) payments to a country other than where the individual/company resides or where the services are rendered; and (iii) payments for rebates, discounts, commission or remuneration that are not specified in bids or contracts.  In addition, TLI adopted payment controls requiring multiple reviews for payment requests and two signatures on check registers.

TLI was able to reduce its penalty from $21.4 under the sentencing guidelines to $2 million based on its inability to pay.  TLI retained a forensic accountant who was able to demonstrate that a $21.4 million payment would create a substantial risk that the company would discontinue operations.

The post DOJ Settles Follow-On FCPA Case: Transport Logistics Pays $2 Million Penalty appeared first on Corruption, Crime & Compliance.

What to Expect for the Rest of 2018 in Retail Technology Trends

Loss Prevention Media -

In January, I wrote an article titled 2018 Emerging Trends in Cyber Risk for Retail. Many of my former colleagues reached out and asked if I would be writing something related to general retail technology trends as well. Your wish is my command: Here are some of my 2018 retail predictions.

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1. We haven’t found the floor yet. Sales will continue to decrease for some time. No, retail is not dead; we are in an extreme evolution stage. I believe you will continue to see store closures, restructures, rebranding, and reduced footprint in brick-and-mortar retail. To deal with this, the traditional retailers need continue to focus on customer experience.

2. Online retailers will partner with brick-and-mortar stores. As true e-commerce retailers grow, you will continue to see sometimes strange partnerships emerging. Recently, you probably read about the Kohl’s-Amazon partnership, as well as the Kohl’s-Aldi pairing. Both partnerships are somewhat nontraditional and show the need for e-commerce, brick-and-mortar, and other stores to combine forces to manage customer demand, enhance customer experience and reduce loss.

3. The Internet of Things is here. We will see a much higher level of technology interaction in the stores. The key question here is will that lead to increased sales and a better customer experience?

4. Biometrics in retail will become more prevalent. We should see an increased use of biometrics both on the backend and customer-facing sides. Apple’s iPhone X usage of facial recognition will help the consumer population become more comfortable with the technology, thus allowing retailers to use similar technology more openly. Additionally, facial recognition, fingerprint scanners, gait analytics and advanced video analytics will become more widely used.

5. Wider adoption of RFID. This year we should see some larger penetrations of RFID usage and adoption. The technology has been proven and the costs have come down. In the omni-channel environment the need is increasing for inventory accuracy to improve customer experience.

6. The returns problem becomes front of mind. 2018 is the year were retailers will tackle the ever-rising returns problem. As data analytics and artificial intelligence become more readily available, more retailers will turn to advanced returns management to help control the loss.

7. The gap between entertainment and shopping will narrow. Destination shopping: buy a shirt, grab a bite to eat, hang out in a lounge. We will see more shared or combined spaces where restaurant, coffee shops and lounges will be peppered into traditional retail establishments. As customers look for different experiences this will be the differentiator for some.

8. More targeted marketing using technology. The use of Bluetooth beacons, facial recognition and data analytics will increase to help deliver targeted offerings to loyal shoppers.

9. The rebirth of brands. We will see some retailers come back from the dead. Brands that closed or filed for bankruptcy several years ago will resurface with a focus on smaller footprint stores and customer experience. We may also see the death of some other giants and hope one day they are reborn as well.

10. Self-service shopping. There will be an increase in self-checkout in non-traditional environments. You will see more scan-and-pay options using smartphones. A lot of these self-service shopping initiatives are tests to see how the customer reacts rather than cost-cutting experiments.

As retail continues to evolve we must remind ourselves not to fear the evolution but to embrace it. Technology is not here to eliminate us; it’s here to make our jobs and lives easier. Focus all your programs on the customer experience, and customers will shop. I hope the rest of 2018 is an outstanding year for you.

The post What to Expect for the Rest of 2018 in Retail Technology Trends appeared first on LPM.

Third-Party Due Diligence Requirements for Financial Institutions

Corporate Compliance Insights -

Sylwia Wolos, Head of Proposition, Enhanced Due Diligence at Thomson Reuters speaks with Finextra TV, covering topics including the latest third-party due diligence requirements for financial institutions, key new technological developments in due diligence research and the potential for aligning overlapping aspects of anti-money laundering (AML) and third-party risk compliance processes throughout their customer onboarding and The post Third-Party Due Diligence Requirements for Financial Institutions appeared first on Corporate Compliance Insights.

(This is only a summary. Click on the headline to view the entire article at Corporate Compliance Insights and participate in the discussion.)

Zero-Tolerance on Sexual Harassment Goes Beyond Resolving Individual Incidents

The Network Inc. GRC Blog -

A leader’s work does not end after single cases of sexual harassment are resolved. Remediation has to do more than just resolve an issue for the people involved. It has to send a message to potential perpetrators that this behavior is not tolerated in the workplace, as well as confirm to employees that the organization is committed to creating a working environment of civility and respect. Let’s discuss.

Zero-Tolerance on Sexual Harassment Goes Beyond Resolving Individual Incidents

Ethics & Compliance Matters™ by NAVEX Global -

A leader’s work does not end after single cases of sexual harassment are resolved. Remediation has to do more than just resolve an issue for the people involved. It has to send a message to potential perpetrators that this behavior is not tolerated in the workplace, as well as confirm to employees that the organization is committed to creating a working environment of civility and respect. Let’s discuss.

ECI’s Global Ethics and Compliance Report

Corporate Compliance Insights -

The Ethics and Compliance Initiative has just released a major global report on the state of ethics and compliance in business. The salient highlights from the U.S. data are below and encompass some real gravity and importance as it pertains to the nation’s workplace culture. In short, U.S. rates of reported misconduct have set a national record, The post ECI’s Global Ethics and Compliance Report appeared first on Corporate Compliance Insights.

(This is only a summary. Click on the headline to view the entire article at Corporate Compliance Insights and participate in the discussion.)

Hossam El Shaffei on Compliance in the Middle East [Podcast]

The Compliance & Ethics Blog -

By Adam Turteltaub Hossam El Shaffei from RSM Consulting is an expert on doing business in the Middle East.  An Egyptian by birth, he has worked throughout the region and currently calls Jordan his home (not Lebanon as I mistakenly said on the podcast). We met in Abu Dhabi at the ACFE regional conference […]


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