Lessons From an Ohio State Ethical Crisis
Ohio State University disclosed a 47‑page compliance report after President Ted Carter resigned amid allegations he tried to channel university resources to his romantic partner, Krisanthe Vlachos. The investigation found Carter made at least 14 improper requests, but staff consistently refused to provide material assistance. Employees struggled to identify unethical requests because they were interspersed with legitimate duties and lacked concrete evidence of the affair. The case underscores gaps in policy clarity and the challenges of reporting vague ethical concerns.
Jeffrey Epstein and Third-Party Risk
The upcoming Ethixbase 360 webinar will use the Jeffrey Epstein scandal as a case study for third‑party risk management. It highlights how a single high‑profile individual can expose senior executives across multiple firms to reputational damage. The discussion will focus on...
Banks Get Emaciated Model Risk Guidance
U.S. banking regulators released a 12‑page, principles‑based guidance on model risk management, replacing detailed prior rules. The guidance applies to banks with $30 billion or more in assets and explicitly excludes AI models, promising separate AI guidance later. It is non‑prescriptive,...
From CCO Alone to Proving Value
Chief compliance officers (CCOs) often feel isolated because they report in findings that lack financial context. Tina Tolliver argues the solution is translating every compliance event into dollar exposure and remediation cost, creating a Risk Protection Dashboard with exposure and...
Compliance Jobs Report: Apr. 10
Compliance hiring activity surged this week, with several fintechs and financial institutions adding senior compliance executives. Airwallex named former FanDuel chief Carolyn Renzin as Chief Regulatory and Compliance Officer, while the newly formed PayPal Bank hired Luke Flinders from Santander as...
Launching: The CCO Retaliation Survey
Radical Compliance, together with Case IQ and Compliance Week, has launched the first comprehensive survey targeting chief compliance officers (CCOs) who have faced retaliation for raising concerns. The 20‑question, five‑minute questionnaire seeks to quantify incidents, explore gender differences, and capture...
Solventum Dinged on Export Violations
Solventum, a Minnesota‑based filtration equipment maker, agreed to pay a $1.6 million civil penalty after the U.S. Bureau of Industry and Security found it exported contactors to sanctioned Chinese entities in 2020 and 2023. The 2023 breach involved 87 contactors shipped...
Tips on Finding Sham Transactions
The U.S. Treasury’s Office of Foreign Assets Control (OFAC) released a concise five‑page guidance outlining how companies can detect sham transactions used to conceal sanctioned individuals. The document provides concrete examples—such as jets transferred to trusts, funds moved to children’s...
Yes, the Compliance Officer Stands Alone
Tina Tolliver, a veteran healthcare compliance executive, argues that compliance officers remain isolated because many organizations still place them under legal or finance functions despite 25 years of regulator guidance. Since 1998, the HHS Office of Inspector General and the...
COSO Reboots Governance Framework
COSO has published a streamlined set of twelve corporate governance principles, replacing the earlier draft of twenty‑four that was withdrawn last year. The new guidance removes the detailed “points of focus” that auditors could have used to build a risk‑control...
Anti-Fraud Teams Struggling on AI, Tech
The Association of Certified Fraud Examiners’ 2026 Anti‑Fraud Technology Benchmarking Report surveyed over 700 anti‑fraud executives and found that 92% of teams still do not use AI, with only 8% feeling prepared for AI‑enhanced fraud attacks. Respondents cite data‑quality, governance,...
More on Vendor AI Risks
Companies are grappling with how to treat AI‑enhanced vendor upgrades under existing shadow‑AI bans. The article argues that such upgrades are fundamentally an IT control issue—un‑tested software entering production—rather than a new compliance violation. It highlights recent high‑profile incidents like...
Trader Fined $1.1M on Testing, Software Snafus
TradeStation agreed to pay $1.1 million to OFAC after its sanctions‑screening tools were unintentionally disabled for nearly a year, allowing users in Iran, Syria and Crimea to execute 481 improper trades worth $4.4 million. The firm’s primary geo‑blocking firewall and a mobile‑platform...
Compliance Jobs Report: March 13
The weekly Compliance Jobs Report highlights a surge of senior appointments, including Chipotle’s new chief compliance officer Sunayna Ramdeo and the University of Pennsylvania’s vice president of audit, compliance and privacy Timothy Susanin. KPMG bolstered its ethics and compliance function...
On ‘Upskilling’ Your Compliance Team
Compliance leaders must shift from reacting to employee training requests to proactively upskilling their entire team. The article stresses evaluating each member's development needs and directing budget toward targeted learning, such as conferences, podcasts, and mentorships. It highlights that interpersonal...