Money laundering is an expanding and increasingly international phenomenon, according to a new report by Moneyval, Europe’s money-laundering watchdog. Current estimates of the amount of money laundered world-wide range from $500 billion to a staggering $1 trillion, with disastrous effects on the global economy, especially on vulnerable, developing economies. The Read More
A chief compliance officer can only succeed with the support of other important compliance partners. A vital partner for compliance is the internal auditor. Indeed, both functions must take measures to ensure that the internal audit and compliance partnership works well. A CCO has to meet often and work closely Read More
It didn’t take long for the lawsuits to start flying over allegations of non-compliance with the European Union’s new set of data governance rules. Austrian data privacy advocacy group None of Your Business (NOYB) filed suits against Facebook, Google, and Facebook subsidiaries WhatsApp and Instagram alleging that the tech firms Read More
The U.S. House has approved a sweeping overhaul of bank regulations, sending to President Donald Trump a bill that will give him a chance to make good on his vow to “do a big number” on the Dodd-Frank Act. The new legislation will repeal several provisions of Dodd-Frank, adopted in Read More
It might be time for a data governance and compliance audit. A new survey by ISACA finds that more than two out of three companies aren’t fully prepared to comply with the European Union’s new General Data Protection Regulation (GDPR), which creates new rules for how companies manage and protect Read More
Companies will need to be more transparent about the management of employee data or risk getting caught on the wrong side of the European Union’s General Data Protection Regulation. GDPR takes effect May 25 and builds upon existing European data-privacy rules to protect personal identifiable information and to empower the Read More
Following a series of embezzlement cases involving accounting and internal audit staff at state entities, the Financial Comptroller General Office of Nepal is considering putting in place a legal requirement to make internal auditors of government entities get licenses. The agency says it could help internal auditors avoid conflict of Read More
Don’t be surprised if the U.S. Customs and Immigration Enforcement agency comes knocking on your company’s door to conduct an inspection. ICE has ramped workplace inspections way up, increasing audits and arrests as part of an effort to find illegal workers and discourage businesses from hiring them, data released by Read More
With the global crackdown on bribery and corruption over the last decade, organizations are realizing the need to fully implement structured anti-bribery programs that are continuously monitored. A new report from the Internal Audit Foundation highlights the important role internal audit plays in assuring these programs are set up for Read More
China is drafting new rules to rein in businesses offering multiple financial services after runaway growth in recent years has left regulators without a firm handle on their risks to the economy. Officials at China’s central bank are preparing to roll out new rules to bring risk management and capital Read More
