Fraud, Fraud and Forensic Inv..., Fraud Risk Management, Risk, Risk Assessment, Risk factors, Risk Management, White Collar Crime Jonathan T. Marks Fraud, Fraud and Forensic Inv..., Fraud Risk Management, Risk, Risk Assessment, Risk factors, Risk Management, White Collar Crime Jonathan T. Marks

Common Pitfalls - Fraud Risk Assessment

Risk assessments are part of the discipline of risk management, where enhanced frameworks and techniques have emerged. Risk management comprises the identification, assessment, and prioritization of risks followed by the coordinated and efficient use of resources to monitor, minimize, and otherwise control the organization's risks.
Risks arise in many forms and range from uncertainty in financial markets, operational failures, natural disasters, and pandemics to legal liabilities and reputational harms.

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ACFE, AICPA, Anti-fraud, Baker Tilly, Bank Secrecy Act, Board of Directors, Books and records, Bribery, Business Intelligence, Compliance, Culture, Disclosure, Dodd-Frank, DOJ, Enforcement, Enterprise Risk Resili..., Ethics, Evidence, False Claims Act, FCPA, Federal Sentencing Gui..., Foreign Corrupt Practi..., Forensic Accounting, Forensically Speaking, Fraud and Forensic, Fraud and Forensic Inv..., Fraud Investigations, Fraud Pentagon, Fraud Risk Management, Fraud Task Force, General Counsel, Governance, GRC, Hotline, IIA, Internal Audit, Internal Control Defic..., Internal Controls, Jonathan T- Marks, Kickbacks, KYC, Leadership, Legal, Management Override, Money Laundering, Monitoring, NACD, Not for Profit, OFAC, Policies and Procedures, Process Improvement, Qui Tam, RegTech, Regulatory, Remediation, Remote Internal Invest..., Remote Investigations, Risk Assessment, Risk factors, Risk Management, Risk-focused, Root Cause, Sarbanes-Oxley, SEC, Third Party, Thought Leadership, Webinar, Whistleblower, White Collar Crime Jonathan T. Marks ACFE, AICPA, Anti-fraud, Baker Tilly, Bank Secrecy Act, Board of Directors, Books and records, Bribery, Business Intelligence, Compliance, Culture, Disclosure, Dodd-Frank, DOJ, Enforcement, Enterprise Risk Resili..., Ethics, Evidence, False Claims Act, FCPA, Federal Sentencing Gui..., Foreign Corrupt Practi..., Forensic Accounting, Forensically Speaking, Fraud and Forensic, Fraud and Forensic Inv..., Fraud Investigations, Fraud Pentagon, Fraud Risk Management, Fraud Task Force, General Counsel, Governance, GRC, Hotline, IIA, Internal Audit, Internal Control Defic..., Internal Controls, Jonathan T- Marks, Kickbacks, KYC, Leadership, Legal, Management Override, Money Laundering, Monitoring, NACD, Not for Profit, OFAC, Policies and Procedures, Process Improvement, Qui Tam, RegTech, Regulatory, Remediation, Remote Internal Invest..., Remote Investigations, Risk Assessment, Risk factors, Risk Management, Risk-focused, Root Cause, Sarbanes-Oxley, SEC, Third Party, Thought Leadership, Webinar, Whistleblower, White Collar Crime Jonathan T. Marks

Still time to join us on February 23-25! Baker Tilly’s 1st Annual Virtual Fraud and Compliance Summit

We are introducing our first annual virtual Baker Tilly Fraud and Compliance Summit, hosted by Jonathan T. Marks, who leads Baker Tilly’s Global Forensic, Compliance, and Integrity Services Practice.

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10-80-10, 10-A, 3 Lines, ACFE, AICPA, Analytics, Anti-fraud, Antitrust, Audit, Audit Committee, Automation, Baker Tilly, Blockchain, Board of Directors, Books and records, Bribery, Business Intelligence, Caremark, Cash, Chief Audit Executive, Chief Compliance Officer, Chief Legal Counsel, Colleges and Universities, Collusion, Compliance, Compliance Coordinator, Conflict of Interest, Continuous Auditing, Continuous Monitoring, Control, Control Environment, Coronavirus, Corporate Fraud, Corruption, COSO, Court, COVID -19, Crisis, Crisis Management, Critical Audit Matters, Cross Border Investiga..., Cryptocurrency, Culture, Culture Assessment, Cyber, Damages, Data, Data Analytics, Data Integrity, Directors, Disclosure, Dodd Frank, Dodd-Frank, DOJ, Due Diligence, Dunning Kruger, Enforcement, Enterprise Risk Resili..., Enterprise Risk Resili..., EQS, ERM, Ethics, Evidence, Exit Interview, Fake Invoices, False Claims Act, FCPA, Federal Sentencing Gui..., Financial reporting an..., FinCen, Food Safety, Foreign Corrupt Practi..., Forensic Accounting, Forensically Speaking, Four eyes approval, Fraud, Fraud and Forensic, Fraud and Forensic Inv..., Fraud Investigations, Fraud Pentagon, Fraud Risk Management, Fraud Task Force, Fraud Triangle, GAAP, GDPR, General Counsel, Gifts, Global, Governance, GRC, Guidance, Hidden Assets, Hotline, IDORP, IIA, IIA Philadelphia, IIOT, Impairment, Initial Coin Offering, Insider Trading, Internal Audit, Internal Control Defic..., Internal Controls, Interview, Investigations, Jonathan T- Marks, Judgment and Estimates, Keyword, Kickbacks, Leadership, Legal, Lessons Learned, Management Override, Materiality, MD&A, Money Laundering, Monitor, Monitoring, Monitorship, NACD, Nonprofit, Not for Profit, OFAC, Office of Foreign Asse..., Oversight, Phishing, Podcast, Policies and Procedures, Process Improvement, Proxy, Qui Tam, ransom, Ransomeware, Red Flag, RegTech, Regulatory, Related Party, Remediation, Remote Internal Invest..., Remote Investigations, Reputation, Restatement, Risk, Risk Assessment, Risk factors, Risk Management, Robotic, Root Cause, Sampling, Sarbanes-Oxley, Seaboard, SEC, Shell Company, Skepticism, Slush Fund, Supreme Court, Tax, Tax Fraud, Technology, Theft, Third Party, Thought Leadership, Three Lines, Three Lines of Defense, Tips, tone at the top, Tone from the Top, Training, Treasury, Triage, Uncategorized, Values, Webinar, Whistleblower, White Collar Crime, Yellow Flag Jonathan T. Marks 10-80-10, 10-A, 3 Lines, ACFE, AICPA, Analytics, Anti-fraud, Antitrust, Audit, Audit Committee, Automation, Baker Tilly, Blockchain, Board of Directors, Books and records, Bribery, Business Intelligence, Caremark, Cash, Chief Audit Executive, Chief Compliance Officer, Chief Legal Counsel, Colleges and Universities, Collusion, Compliance, Compliance Coordinator, Conflict of Interest, Continuous Auditing, Continuous Monitoring, Control, Control Environment, Coronavirus, Corporate Fraud, Corruption, COSO, Court, COVID -19, Crisis, Crisis Management, Critical Audit Matters, Cross Border Investiga..., Cryptocurrency, Culture, Culture Assessment, Cyber, Damages, Data, Data Analytics, Data Integrity, Directors, Disclosure, Dodd Frank, Dodd-Frank, DOJ, Due Diligence, Dunning Kruger, Enforcement, Enterprise Risk Resili..., Enterprise Risk Resili..., EQS, ERM, Ethics, Evidence, Exit Interview, Fake Invoices, False Claims Act, FCPA, Federal Sentencing Gui..., Financial reporting an..., FinCen, Food Safety, Foreign Corrupt Practi..., Forensic Accounting, Forensically Speaking, Four eyes approval, Fraud, Fraud and Forensic, Fraud and Forensic Inv..., Fraud Investigations, Fraud Pentagon, Fraud Risk Management, Fraud Task Force, Fraud Triangle, GAAP, GDPR, General Counsel, Gifts, Global, Governance, GRC, Guidance, Hidden Assets, Hotline, IDORP, IIA, IIA Philadelphia, IIOT, Impairment, Initial Coin Offering, Insider Trading, Internal Audit, Internal Control Defic..., Internal Controls, Interview, Investigations, Jonathan T- Marks, Judgment and Estimates, Keyword, Kickbacks, Leadership, Legal, Lessons Learned, Management Override, Materiality, MD&A, Money Laundering, Monitor, Monitoring, Monitorship, NACD, Nonprofit, Not for Profit, OFAC, Office of Foreign Asse..., Oversight, Phishing, Podcast, Policies and Procedures, Process Improvement, Proxy, Qui Tam, ransom, Ransomeware, Red Flag, RegTech, Regulatory, Related Party, Remediation, Remote Internal Invest..., Remote Investigations, Reputation, Restatement, Risk, Risk Assessment, Risk factors, Risk Management, Robotic, Root Cause, Sampling, Sarbanes-Oxley, Seaboard, SEC, Shell Company, Skepticism, Slush Fund, Supreme Court, Tax, Tax Fraud, Technology, Theft, Third Party, Thought Leadership, Three Lines, Three Lines of Defense, Tips, tone at the top, Tone from the Top, Training, Treasury, Triage, Uncategorized, Values, Webinar, Whistleblower, White Collar Crime, Yellow Flag Jonathan T. Marks

2020 Top 10 Articles on Fraud, Compliance, and Risk Management

Happy New Year, and thank you to the more than 100,000 people that visited Board and Fraud in 2020!
With everything that happened last year, fraud, compliance, and risk management have arguably become more important than ever.

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Anti-fraud, Baker Tilly, Chief Audit Executive, Chief Compliance Officer, Chief Legal Counsel, Ethics, Exit Interview, Fraud, Fraud and Forensic Inv..., Internal Audit, Internal Controls, Interview, Lessons Learned, Red Flag, Risk Management Jonathan T. Marks Anti-fraud, Baker Tilly, Chief Audit Executive, Chief Compliance Officer, Chief Legal Counsel, Ethics, Exit Interview, Fraud, Fraud and Forensic Inv..., Internal Audit, Internal Controls, Interview, Lessons Learned, Red Flag, Risk Management Jonathan T. Marks

The Properly Designed Exit Interview a Necessary Step in Uncovering Ethical Violations

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Business Intelligence, Compliance, Data Analytics, Enterprise Risk Resili..., Ethics, Fraud, Fraud and Forensic Inv..., Internal Audit, Internal Control Defic..., Internal Controls, Regulatory, Risk, Risk Assessment, Risk Management, White Collar Crime Jonathan T. Marks Business Intelligence, Compliance, Data Analytics, Enterprise Risk Resili..., Ethics, Fraud, Fraud and Forensic Inv..., Internal Audit, Internal Control Defic..., Internal Controls, Regulatory, Risk, Risk Assessment, Risk Management, White Collar Crime Jonathan T. Marks

SEC and its New Silent Whistleblower: Risk Based Data Analytics

The SEC just announced its first actions arising from investigations generated by the Enforcement Division's EPS (Earnings Per Share) Initiative, which utilizes risk-based data analytics to uncover potential accounting and disclosure violations caused by, among other things, earnings management practices.

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Anti-fraud, Audit Committee, Bribery, Chief Audit Executive, Chief Compliance Officer, Chief Legal Counsel, Compliance, EQS, Ethics, Fraud, Fraud and Forensic Inv..., Governance, Hotline, Internal Audit, Internal Controls, Investigations, Monitor, NAVEX, Red Flag, Regulatory, Risk Assessment, Risk factors, Risk Management, Technology, Tips, Triage, Values, Whistleblower, White Collar Crime Jonathan T. Marks Anti-fraud, Audit Committee, Bribery, Chief Audit Executive, Chief Compliance Officer, Chief Legal Counsel, Compliance, EQS, Ethics, Fraud, Fraud and Forensic Inv..., Governance, Hotline, Internal Audit, Internal Controls, Investigations, Monitor, NAVEX, Red Flag, Regulatory, Risk Assessment, Risk factors, Risk Management, Technology, Tips, Triage, Values, Whistleblower, White Collar Crime Jonathan T. Marks

Are you ready? New EU Whistleblower Protection Law!

Soon all public and private organizations in the EU with more than fifty (50) employees will soon be required to comply with a new EU Whistleblower Protection law. The new law highlights the importance of responsive, transparent, and timely whistleblowing case management. So just implementing a hotline is not enough. Organizations must consider confidentiality, acknowledgment of the tip or compliant, response times, the competence of persons receiving the reports, communication with the whistleblower, and feedback on how the case is being processed. The new law also includes the right to report concerns externally while remaining legally protected. That's a risk organizations must avoid. With the December 2021 deadline fast approaching, there is no better time for management and boards to act. Read more!

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AICPA, Audit Committee, COVID -19, Crisis, DOJ, Forensic Accounting, Fraud, Fraud and Forensic, Fraud and Forensic Inv..., Fraud Investigations, Fraud Task Force, Risk Management, SEC, White Collar Crime Jonathan T. Marks AICPA, Audit Committee, COVID -19, Crisis, DOJ, Forensic Accounting, Fraud, Fraud and Forensic, Fraud and Forensic Inv..., Fraud Investigations, Fraud Task Force, Risk Management, SEC, White Collar Crime Jonathan T. Marks

The Next Level of Investigations

Many investigations are currently being performed remotely, in concert with the general counsel, the chief compliance officer, the chief audit executive, and depending on the how the allegation was triaged, with outside counsel, a forensic accounting firm, and the board.  Even government prosecutors are interviewing witnesses remotely.The primary goal of the interview is to elicit information in a non-coercive manner. My personal preference is always to conduct interviews face to face because I can control the subject and the environment, and evaluate the nonverbal behavior of the interviewee.  But, if performing a face-to-face interview is not possible, I suggest using video over the telephone.This writing provides some suggestions for techniques to consider when conducting internal investigations remotely.

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ACFE, Audit Committee, Board of Directors, Chief Audit Executive, Chief Compliance Officer, Compliance, Compliance Coordinator, Corporate Fraud, Crisis, Crisis Management, Directors, Dodd Frank, Dodd-Frank, DOJ, Ethics, Fraud, Fraud and Forensic, Fraud and Forensic Inv..., Fraud Risk Management, Governance, Internal Audit, Internal Controls, Investigations, Money Laundering, Risk, Risk Management, Root Cause, SEC, Tone from the Top, Triage, Whistleblower, White Collar Crime Jonathan T. Marks ACFE, Audit Committee, Board of Directors, Chief Audit Executive, Chief Compliance Officer, Compliance, Compliance Coordinator, Corporate Fraud, Crisis, Crisis Management, Directors, Dodd Frank, Dodd-Frank, DOJ, Ethics, Fraud, Fraud and Forensic, Fraud and Forensic Inv..., Fraud Risk Management, Governance, Internal Audit, Internal Controls, Investigations, Money Laundering, Risk, Risk Management, Root Cause, SEC, Tone from the Top, Triage, Whistleblower, White Collar Crime Jonathan T. Marks

Whistleblowers: Tipsters not trusting the system?

Whistleblowers: Tipsters not trusting the system? Here's how to win them back.Anonymous hotlines and tip-reporting structures are useless, of course, if informants don’t trust them. Employees won’t blow the whistle if they fear reprisals. So, their concerns often don’t enter case-management systems and frauds continue. Here’s how to earn back their trust, take them seriously and transform raw tips into valuable fraud examinations.Ovem lupo commitere!

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ACFE, Audit Committee, Board of Directors, Chief Audit Executive, Chief Compliance Officer, Compliance, Crisis, Crisis Management, Dodd Frank, Dodd-Frank, Ethics, Fraud, Fraud and Forensic, Fraud and Forensic Inv..., Fraud Risk Management, General Counsel, Governance, Hotline, IIA, Internal Audit, Internal Controls, Investigations, NAVEX, Regulatory, Risk, Risk Assessment, Risk Management, SEC, Training, Triage, Whistleblower, White Collar Crime Jonathan T. Marks ACFE, Audit Committee, Board of Directors, Chief Audit Executive, Chief Compliance Officer, Compliance, Crisis, Crisis Management, Dodd Frank, Dodd-Frank, Ethics, Fraud, Fraud and Forensic, Fraud and Forensic Inv..., Fraud Risk Management, General Counsel, Governance, Hotline, IIA, Internal Audit, Internal Controls, Investigations, NAVEX, Regulatory, Risk, Risk Assessment, Risk Management, SEC, Training, Triage, Whistleblower, White Collar Crime Jonathan T. Marks

Whistleblowers: A Fraud Triage System to Manage Burgeoning Caseloads

As the use of whistleblower programs continues to grow, many organizations find themselves struggling to manage burgeoning caseloads. As a result, serious fraud investigations can be delayed (with mounting losses) while less consequential complaints are being investigated. The lack of a timely, systematic, and repeatable process for evaluating and prioritizing whistleblower tips that contain allegations of ethical breaches can also expose an organization to increased regulatory risk. While there is no single “right” method for following up on whistleblower complaints, the most effective approaches often resemble the medical triage programs that hospitals and first responders use to allocate limited resources during emergencies or a crisis situations. Here are some useful guidelines for designing and implementing a fraud triage system.

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Board of Directors, Dunning Kruger, Fraud and Forensic Inv..., Risk, Risk Management Jonathan T. Marks Board of Directors, Dunning Kruger, Fraud and Forensic Inv..., Risk, Risk Management Jonathan T. Marks

Board Overconfidence: An Often Unrecognized Risk

Directors on corporate boards are – almost by definition – men and women who are accomplished and successful. So it is only natural that most board members also are highly self-assured and confident in their judgment and abilities.When that self-confidence is misplaced or overstated, however, the consequences can be costly. This is particularly true when overconfidence causes board members to underestimate or overlook the risks associated with fraud or management incompetence. Moreover, when board overconfidence is compounded by management overconfidence, the risks can multiply quickly.Once the dangers of overconfidence are understood and appreciated, board and management teams alike can begin taking proactive steps to mitigate the risks. Knowing the warning signs of board overconfidence is an essential first step.

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Anti-fraud, Audit, Audit Committee, Board of Directors, Books and records, Conflict of Interest, Corporate Fraud, Culture, Damages, Directors, Evidence, Forensic Accounting, Fraud, Fraud Investigations, Fraud Risk Management, General Counsel, Governance, GRC, Investigations, Monitor, Nonprofit, Not for Profit, Process Improvement, Red Flag, Related Party, Risk, Risk Assessment, Risk Management, Sarbanes-Oxley, Skepticism, Theft, Tips, Whistleblower, White Collar Crime Jonathan T. Marks Anti-fraud, Audit, Audit Committee, Board of Directors, Books and records, Conflict of Interest, Corporate Fraud, Culture, Damages, Directors, Evidence, Forensic Accounting, Fraud, Fraud Investigations, Fraud Risk Management, General Counsel, Governance, GRC, Investigations, Monitor, Nonprofit, Not for Profit, Process Improvement, Red Flag, Related Party, Risk, Risk Assessment, Risk Management, Sarbanes-Oxley, Skepticism, Theft, Tips, Whistleblower, White Collar Crime Jonathan T. Marks

A Violation of Trust: Fraud Risk in Nonprofit or Not-for Profit Organizations

The risk of fraud is a serious concern for all types of enterprises, but fraud can be particularly damaging to a nonprofit or not-for-profit organization, for which a damaged reputation can have devastating consequences.

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Anti-fraud, Audit Committee, Baker Tilly, Bribery, Chief Audit Executive, Chief Compliance Officer, Coronavirus, Corporate Fraud, COVID -19, Crisis Management, Directors, Ethics, FCPA, Foreign Corrupt Practi..., Fraud, Fraud and Forensic Inv..., Fraud Investigations, Fraud Pentagon, Fraud Risk Management, General Counsel, Governance, Hotline, IIA, Internal Audit, Investigations, Management Override, Phishing, Risk factors, Risk Management, White Collar Crime Jonathan T. Marks Anti-fraud, Audit Committee, Baker Tilly, Bribery, Chief Audit Executive, Chief Compliance Officer, Coronavirus, Corporate Fraud, COVID -19, Crisis Management, Directors, Ethics, FCPA, Foreign Corrupt Practi..., Fraud, Fraud and Forensic Inv..., Fraud Investigations, Fraud Pentagon, Fraud Risk Management, General Counsel, Governance, Hotline, IIA, Internal Audit, Investigations, Management Override, Phishing, Risk factors, Risk Management, White Collar Crime Jonathan T. Marks

Fraud, Compliance & Integrity Risk During a Crisis and a Downturn

As a crisis unfolds, like Coronavirus, and markets decline globally, fraudsters will be adapting and new risks will emerge and some risks will increase. Remember, white collar criminals adapt by profiling us, so they can exploit our weaknesses. That being said, companies need to develop a strategy that enables the deployment of appropriate tactics to manage these new or increasing risks.This writing explores some fraud, compliance, and integrity risks and is intended to provoke discussion.

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Anti-fraud, Audit, Audit Committee, Baker Tilly, Chief Audit Executive, Chief Compliance Officer, Compliance, Compliance Coordinator, Corporate Fraud, Corruption, Culture, Culture Assessment, Data Analytics, Directors, DOJ, Ethics, FCPA, Forensic Accounting, Fraud and Forensic, Fraud Investigations, Fraud Pentagon, Fraud Risk Management, General Counsel, Global, Governance, IIA, IIA Philadelphia, Internal Audit, Internal Control Defic..., Internal Controls, Investigations, Jonathan T- Marks, Management Override, Money Laundering, Policies and Procedures, Process Improvement, Red Flag, Regulatory, Risk, Risk Assessment, Risk Management, Root Cause, Sarbanes-Oxley, SEC, Technology, Theft, Third Party, Tone from the Top, Training, Triage, Values, White Collar Crime Jonathan T. Marks Anti-fraud, Audit, Audit Committee, Baker Tilly, Chief Audit Executive, Chief Compliance Officer, Compliance, Compliance Coordinator, Corporate Fraud, Corruption, Culture, Culture Assessment, Data Analytics, Directors, DOJ, Ethics, FCPA, Forensic Accounting, Fraud and Forensic, Fraud Investigations, Fraud Pentagon, Fraud Risk Management, General Counsel, Global, Governance, IIA, IIA Philadelphia, Internal Audit, Internal Control Defic..., Internal Controls, Investigations, Jonathan T- Marks, Management Override, Money Laundering, Policies and Procedures, Process Improvement, Red Flag, Regulatory, Risk, Risk Assessment, Risk Management, Root Cause, Sarbanes-Oxley, SEC, Technology, Theft, Third Party, Tone from the Top, Training, Triage, Values, White Collar Crime Jonathan T. Marks

IIA Philadelphia and Baker Tilly’s Fraud & Ethics Symposium is Postponed! Stay tuned for the new date.

This one-day fraud symposium, sponsored by Baker Tilly's Global Forensic, Compliance and Integrity Services, and Solutions Practice Group and hosted by the Institute of Internal Auditors, Philadelphia Chapter, will include topics such as:•Culture•Current trends in white-collar crime•Tone is the middle•Policy management•Case study on a local fraudDiscover who will be speaking and register for the event!

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Anti-fraud, Audit Committee, Board of Directors, Books and records, Bribery, Chief Audit Executive, Chief Compliance Officer, Collusion, Compliance Coordinator, Corporate Fraud, Ethics, FCPA, Foreign Corrupt Practi..., Forensic Accounting, Fraud and Forensic Inv..., Fraud Investigations, Fraud Pentagon, Fraud Risk Management, GDPR, General Counsel, Internal Audit, Internal Control Defic..., Internal Controls, Investigations, Jonathan T- Marks, Red Flag, Risk, Risk Assessment, Risk Management, SEC, Skepticism, White Collar Crime Jonathan T. Marks Anti-fraud, Audit Committee, Board of Directors, Books and records, Bribery, Chief Audit Executive, Chief Compliance Officer, Collusion, Compliance Coordinator, Corporate Fraud, Ethics, FCPA, Foreign Corrupt Practi..., Forensic Accounting, Fraud and Forensic Inv..., Fraud Investigations, Fraud Pentagon, Fraud Risk Management, GDPR, General Counsel, Internal Audit, Internal Control Defic..., Internal Controls, Investigations, Jonathan T- Marks, Red Flag, Risk, Risk Assessment, Risk Management, SEC, Skepticism, White Collar Crime Jonathan T. Marks

Bribery Schemes and Their Compliance Responses

This writing will highlight some of the more unusual bribery schemes described in 2019 Foreign Corrupt Practices Act (FCPA) enforcement actions and also consider their impact on compliance programs, what they mean for the compliance professional and how the government could potentially use these cases to require more effective compliance programs going forward.Fraudsters are always looking for loopholes and weak spots to exploit. The same is true for those engaged in bribery and corruption. The role of every compliance professional is to prevent, detect and remediate. By following some of the approaches I have outlined, you can move towards more robust detection.

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Anti-fraud, Audit Committee, Baker Tilly, Board of Directors, Books and records, Bribery, Chief Audit Executive, Chief Compliance Officer, Compliance, Control Environment, Corporate Fraud, Corruption, Culture, Directors, DOJ, Ethics, FCPA, Foreign Corrupt Practi..., Forensic Accounting, Fraud and Forensic Inv..., Fraud Investigations, Fraud Risk Management, General Counsel, Global, Governance, Internal Audit, Internal Control Defic..., Internal Controls, Investigations, Management Override, Policies and Procedures, Process Improvement, Red Flag, Risk, Risk Assessment, Risk Management, SEC, Tone from the Top, Training, White Collar Crime Jonathan T. Marks Anti-fraud, Audit Committee, Baker Tilly, Board of Directors, Books and records, Bribery, Chief Audit Executive, Chief Compliance Officer, Compliance, Control Environment, Corporate Fraud, Corruption, Culture, Directors, DOJ, Ethics, FCPA, Foreign Corrupt Practi..., Forensic Accounting, Fraud and Forensic Inv..., Fraud Investigations, Fraud Risk Management, General Counsel, Global, Governance, Internal Audit, Internal Control Defic..., Internal Controls, Investigations, Management Override, Policies and Procedures, Process Improvement, Red Flag, Risk, Risk Assessment, Risk Management, SEC, Tone from the Top, Training, White Collar Crime Jonathan T. Marks

Fraud Tip Friday: Lessons From Recent FCPA Enforcement Actions

The United States government’s fiscal year ended on September 30, 2019. Just as in the business world, where many companies try and clear out any unexecuted deals or open contracts, the Securities and Exchange Commission (SEC) cleared out three outstanding Foreign Corrupt Practices Act (FCPA) enforcement actions. The three enforcement actions involved Quad/Graphics Inc., a Wisconsin-based digital and print marketing provider, and its Peruvian subsidiary, Quad/Graphics Peru S.A.; Barclays PLC; and a Canadian clean fuel company Westport Fuels Systems, Inc. and its former Chief Executive Officer (CEO), Nancy Gougarty of Leesville, South Carolina. The terms of each settlement agreement provide a different lesson for compliance practitioners.

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Compliance, Corporate Fraud, DOJ, Enforcement, Foreign Corrupt Practi..., Fraud and Forensic Inv..., Fraud Investigations, GRC, Investigations, Red Flag, Risk Assessment, Risk Management, Root Cause, SEC, Third Party, Whistleblower, White Collar Crime Jonathan T. Marks Compliance, Corporate Fraud, DOJ, Enforcement, Foreign Corrupt Practi..., Fraud and Forensic Inv..., Fraud Investigations, GRC, Investigations, Red Flag, Risk Assessment, Risk Management, Root Cause, SEC, Third Party, Whistleblower, White Collar Crime Jonathan T. Marks

DOJ Updates FCPA Corporate Enforcement Policy

On November 20th, 2019, The Department of Justice ("DOJ") announced updates to its Foreign Corrupt Practices Act ("FCPA") Corporate Enforcement Policy. While the changes were relatively minor, the modifications underscored important principles surrounding the FCPA Corporate Enforcement Policy.  This latest update follows extensive revisions made in March of this year and the announcement that the FCPA Policy will apply as non-binding guidance for all criminal cases; all reflect DOJ’s continued efforts to promote self-disclosures and provide clarity on DOJ’s approach for companies deciding whether to self-disclose. There is little doubt the DOJ has landed on a Corporate Enforcement Policy that took years to develop. The FCPA Corporate Enforcement Policy now applies to all corporate criminal prosecutions except Antirust Division criminal prosecutions that are guided by the Leniency Program. The DOJ is consistently applying the principles and appears to be very comfortable with the results.

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ACFE, Analytics, Anti-fraud, Audit, Audit Committee, Automation, Baker Tilly, Board of Directors, Books and records, Bribery, Caremark, Cash, Chief Audit Executive, Chief Compliance Officer, Colleges and Universities, Collusion, Compliance, Compliance Coordinator, Conflict of Interest, Continuous Monitoring, Control Environment, Corporate Fraud, Corruption, COSO, Court, Crisis Management, Critical Audit Matters, Cross Border Investiga..., Culture, Culture Assessment, Cyber, Damages, Data, Data Analytics, Data Integrity, Directors, Dodd Frank, Dodd-Frank, DOJ, Due Diligence, ERM, Ethics, Evidence, False Claims Act, FCPA, Foreign Corrupt Practi..., Forensic Accounting, Four eyes approval, Fraud, Fraud and Forensic, Fraud Investigations, Fraud Pentagon, Fraud Risk Management, Fraud Triangle, GDPR, General Counsel, Global, Governance, GRC, Hidden Assets, Hotline, IIA, IIA Philadelphia, IIOT, Internal Audit, Internal Control Defic..., Internal Controls, Interview, Investigations, Jonathan T- Marks, Management Override, Materiality, Money Laundering, Monitor, Monitoring, Monitorship, NACD, Nonprofit, Not for Profit, Phishing, Podcast, Policies and Procedures, Process Improvement, Proxy, Qui Tam, Red Flag, RegTech, Regulatory, Related Party, Remediation, Reputation, Restatement, Risk, Risk Assessment, Risk Management, Robotic, Root Cause, Sampling, Sarbanes-Oxley, Seaboard, SEC, Shell Company, Skepticism, Slush Fund, Supreme Court, Tax, Tax Fraud, Technology, Theft, Third Party, Thought Leadership, Tips, Tone from the Top, Training, Treasury, Triage, Uncategorized, Values, Whistleblower, White Collar Crime, Yellow Flag Jonathan T. Marks ACFE, Analytics, Anti-fraud, Audit, Audit Committee, Automation, Baker Tilly, Board of Directors, Books and records, Bribery, Caremark, Cash, Chief Audit Executive, Chief Compliance Officer, Colleges and Universities, Collusion, Compliance, Compliance Coordinator, Conflict of Interest, Continuous Monitoring, Control Environment, Corporate Fraud, Corruption, COSO, Court, Crisis Management, Critical Audit Matters, Cross Border Investiga..., Culture, Culture Assessment, Cyber, Damages, Data, Data Analytics, Data Integrity, Directors, Dodd Frank, Dodd-Frank, DOJ, Due Diligence, ERM, Ethics, Evidence, False Claims Act, FCPA, Foreign Corrupt Practi..., Forensic Accounting, Four eyes approval, Fraud, Fraud and Forensic, Fraud Investigations, Fraud Pentagon, Fraud Risk Management, Fraud Triangle, GDPR, General Counsel, Global, Governance, GRC, Hidden Assets, Hotline, IIA, IIA Philadelphia, IIOT, Internal Audit, Internal Control Defic..., Internal Controls, Interview, Investigations, Jonathan T- Marks, Management Override, Materiality, Money Laundering, Monitor, Monitoring, Monitorship, NACD, Nonprofit, Not for Profit, Phishing, Podcast, Policies and Procedures, Process Improvement, Proxy, Qui Tam, Red Flag, RegTech, Regulatory, Related Party, Remediation, Reputation, Restatement, Risk, Risk Assessment, Risk Management, Robotic, Root Cause, Sampling, Sarbanes-Oxley, Seaboard, SEC, Shell Company, Skepticism, Slush Fund, Supreme Court, Tax, Tax Fraud, Technology, Theft, Third Party, Thought Leadership, Tips, Tone from the Top, Training, Treasury, Triage, Uncategorized, Values, Whistleblower, White Collar Crime, Yellow Flag Jonathan T. Marks

Speaking and Training on Fraud, Compliance, Ethics, and More...

Welcome to my site. I have spoken and been the keynote speaker for many conferences, including the ABA, ACC, ACFE, IIA, and IMA to name a few. I have designed customized training for the board, senior leadership, legal, compliance, internal audit, and others for some of the world's largest organizations.

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Anti-fraud, Audit, Audit Committee, Baker Tilly, Bribery, Chief Audit Executive, Chief Compliance Officer, Corporate Fraud, Corruption, Data, Data Analytics, Data Integrity, Directors, DOJ, Due Diligence, ERM, Ethics, FCPA, Foreign Corrupt Practi..., Forensic Accounting, Fraud, Fraud and Forensic, Fraud Investigations, Fraud Pentagon, Fraud Risk Management, General Counsel, Governance, Internal Audit, Internal Control Defic..., Internal Controls, Management Override, Policies and Procedures, Risk, Risk Assessment, Risk Management, Whistleblower, White Collar Crime Jonathan T. Marks Anti-fraud, Audit, Audit Committee, Baker Tilly, Bribery, Chief Audit Executive, Chief Compliance Officer, Corporate Fraud, Corruption, Data, Data Analytics, Data Integrity, Directors, DOJ, Due Diligence, ERM, Ethics, FCPA, Foreign Corrupt Practi..., Forensic Accounting, Fraud, Fraud and Forensic, Fraud Investigations, Fraud Pentagon, Fraud Risk Management, General Counsel, Governance, Internal Audit, Internal Control Defic..., Internal Controls, Management Override, Policies and Procedures, Risk, Risk Assessment, Risk Management, Whistleblower, White Collar Crime Jonathan T. Marks

Fraud: Department of Justice (DOJ) Announces Procurement Collusion Strike Force

On November 5th, the Department of Justice announced the formation of the new Procurement Collusion Strike Force (PCSF) “focusing on deterring, detecting, investigating and prosecuting antitrust crimes, such as bid-rigging conspiracies and related fraudulent schemes, which undermine competition in government procurement, grant and program funding”.The Strike Force is an inter-agency partnership comprised of prosecutors from the Antitrust Division, and prosecutors from thirteen (13) U.S. Attorneys’ Offices.  Aiding in the prosecutors’ efforts are investigation partners such as the Offices of Inspector Generals from the Department of Justice, Department of Defense, U.S. Postal Service, and General Services Administration Office. The Department of Justice’s announcement proclaimed that investigating and prosecuting those who “cheat, collude and seek to undermine the integrity of government procurement” will have more to concern themselves with when executing their crimes. Prosecutors and investigators alike expressed enthusiasm to be working as a part of this new team.

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