You can probably guarantee that each week you’ll come across a news article about corporate corruption, compliance violations or other corporate legal woes. This week was no different. Here’s a roundup of various fraud, compliance and other news from the past week:
Author: Dave Clarke, Reuters
This week the Securities and Exchange Commission released a statement that the number of whistleblower tips received since the introduction of the Dodd-Frank Act have increased sharply. Before you go assuming that majority of these tips are hokey, the SEC sometimes receives 1-2 high quality tips each day. This information impressed me actually. The whistleblowers in these cases don’t just come from within an organization, but include competitors and as the article mentioned, “jilted spouses”.
Author: Samuel Rubenfeld, Corruption Currents (A Wall Street Journal Blog)
Each day the Wall Street Journal’s Corruption Currents blog pulls together a roundup of articles from the day that relate to corruption, bribery, whistleblowers and other related news. These posts are a great way to find breaking news fast – and in this particular post, Samuel Rubenfeld was kind enough to mention one of out posts about the cost of ethics and compliance.
Author: Lucas Gilmore, In Audit
This article discusses the findings from Deloitte’s “Look Before You Leap” survey. In a time where regulations over the financial industry are probably stricter than they have ever been, Deloitte sends a message to these companies to do their homework before jumping into a business relationship. The report found that 63% of respondents claim that anti-corruption and FCPA issues have strained business relationships over the past 3 years. Integrity and reputation are becoming important decision making factors when it comes to mergers and other business activities. We also covered this survey in out blog post “It Doesn’t Pay to be a Corrupt Corporation“.