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  • Understanding the UK’s New Failure to Prevent Fraud Offense with Sam Tate

    Understanding the UK’s New Failure to Prevent Fraud Offense with Sam Tate
    2025/07/25
    Welcome to Season 2 of the award-winning Data Driven Compliance. In this new season, we will look at the new Failure to Prevent Fraud offense. Join host Tom Fox as we explore this new law and how to comply with it through the lens of data driven compliance. This podcast is sponsored by Kona AI. In this first episode of Season 2, Tom is joined by Sam Tate, Global Head of Regulatory and Investigations at the international law firm Clyde & Co. Tate to discuss the significant changes brought about by the latest UK law on the Failure to Prevent Fraud offense, which was introduced as part of the Economic Crime and Corporate Transparency Act of 2023 and took effect on September 1, 2025. He also highlights the challenges of prosecuting large corporations for fraud. Tom and Sam examine the new compliance requirements under the law, their impact on multinational companies, and the extended jurisdiction that covers actions affecting the UK. Practical steps for companies to take in response to the new law are also discussed, emphasizing the need for a thorough risk assessment and robust compliance programs. ey highlights: Overview of the New Fraud Law Implications for US Companies Market Response and Compliance Challenges Prosecutors’ Perspective and Enforcement Corporate Response and Compliance Strategies Impact on International and Regulated Entities Resources: Clyde & Co Sam Tate at Clyde & Co ECCTA’s Failure to Prevent Fraud Offense—Is your Organisation ready? Check out KonaAI Click here for KonaAI White Paper Rethinking Compliance: Practical Steps for Adapting to the UK’s New Fraud Legislation. Connect with Tom Fox on LinkedIn
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    28 分
  • The DOJ Mandate on Transforming Compliance Through Data Analytics and AI with Vince Walden

    The DOJ Mandate on Transforming Compliance Through Data Analytics and AI with Vince Walden
    2024/09/27
    Are you struggling to keep up with the ever-changing compliance programs in your business? Look no further than the award-winning Data Driven Compliance podcast, hosted by Tom Fox, is a podcast featuring an in-depth conversation around the uses of data and data analytics in compliance programs. Data Driven Compliance is back with another exciting episode. Today, Vince Walden, founder of KonaAI, the sponsor of this podcast, returns to talk about the recent speech by Nicole Argentieri and the release of the 2024 Update to the Evaluation of Corporate Compliance Programs (ECCP). Walden shares insights from the Nicole Argentieri's keynote and ECCP update, emphasizing the DOJ's focus on data access in compliance. We explore the importance of utilizing both compliance and business data for effective fraud and risk management. Walden underscores the necessity for compliance professionals to collaborate with internal audit and finance departments, advocating for a risk-based approach to data analytics and continuous controls monitoring. The discussion also delves into leveraging AI and machine learning to improve compliance efficacy and overall business operations, arguing for the proportional allocation of resources to match the company's sophistication level. Key Highlights · DOJ's Focus on Data Access · Understanding Compliance Data Analytics · Training Compliance Officers on Data · Implementing Continuous Controls Monitoring · Cost Savings and ROI in Compliance · Proportionate Resource Allocation · Documentation and Transparency Resources Vince Walden on LinkedIn KonaAI Tom Fox Connect with me on the following sites: Instagram Facebook YouTube Twitter LinkedIn
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    29 分
  • Data Driven Risk Management and Fraud Prevention

    Data Driven Risk Management and Fraud Prevention
    2024/02/27
    Are you struggling to keep up with the ever-changing compliance programs in your business? Look no further than Tom Fox’s award-winning podcast, Data-Driven Compliance. This podcast features an in-depth conversation about the uses of data and data analytics in compliance programs. Data-Driven Compliance is back with another exciting episode. Today, I take a solo turn to explore how data-driven compliance has moved from cutting-edge compliance to part of a best practices compliance program to becoming table stakes to do business in a multi-national world. AI and data-driven compliance solutions are revolutionizing risk management and fraud prevention practices, offering advanced analytics, machine learning, and automation to enhance decision-making processes, improve efficiency, and proactively address compliance risks. These tools are essential for companies to navigate the complex regulatory landscape. Understanding the transformative power of data-driven approaches in compliance and risk management is critical for every compliance professional. User adoption is critical, for even the most advanced technology will not be effective if not embraced and utilized by compliance professionals. There is also a need to balance automation and human judgment to ensure the effectiveness of these tools in risk management. Key Highlights: Data-Driven Compliance Tools for Risk Management Optimizing Decision-Making with AI-Driven Compliance Tools Transformative Data-Driven Fraud Detection and Prevention Tom Fox Connect with me on the following sites: Instagram Facebook YouTube Twitter LinkedIn
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    12 分
  • Data Driven Compliance: From Cutting Edge to Best Practices to Table Stakes

    Data Driven Compliance: From Cutting Edge to Best Practices to Table Stakes
    2024/02/20
    Are you struggling to keep up with the ever-changing compliance programs in your business? Look no further than Tom Fox’s award-winning podcast, Data-Driven Compliance. This podcast features an in-depth conversation about the uses of data and data analytics in compliance programs. Data-Driven Compliance is back with another exciting episode. Today, I take a solo turn to explore how data-driven compliance has moved from cutting-edge compliance to part of a best practices compliance program to becoming table stakes to do business in a multi-national world. Data-Driven Compliance Programs are revolutionizing companies’ identification of potential compliance issues, mitigating risks, and maintaining integrity. The Department of Justice has given these programs, which use data analytics and AI, the go-ahead because of their capacity to improve business efficiency and stop improper payments. The bottom line is that these programs have transitioned from being cutting-edge to being considered best practices. Active data monitoring and analysis, inter-departmental collaboration, and formal risk assessments are cornerstones of a robust compliance program. This is because of the power of data analytics and AI in compliance monitoring and the need for compliance professionals to adapt continuously to the evolving landscape of data-driven compliance. Implementing a data-driven compliance program avoids trouble and enhances business efficiency in today’s regulatory environment.  Tom Fox  Connect with me on the following sites: Instagram Facebook YouTube Twitter LinkedIn
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    13 分
  • Sherlock Holmes on Pattern Recognition in Data-Driven Compliance

    Sherlock Holmes on Pattern Recognition in Data-Driven Compliance
    2024/02/13
    Are you struggling to keep up with the ever-changing compliance programs in your business? Look no further than the award-winning Data-Driven Compliance podcast, hosted by Tom Fox. This podcast features an in-depth conversation around the uses of data and data analytics in compliance programs. Data-Driven Compliance is back with another exciting episode. Today, I take a solo turn to talk about data analytics and pattern recognition for the compliance professional in the context of the Sherlock Holmes short story, The Adventures of the Dancing Men. For a deep dive into the story, check out the episode on my Sherlock Holmes pod, Adventures in Compliance. In this story, Holmes decodes stick figures to solve the mystery. One of the tools he uses is pattern recognition, which plays a pivotal role in data-driven compliance programs, serving as a tool to identify anomalies and potential compliance issues. It involves the systematic observation of data to identify recurring elements or trends, even in seemingly random data, and interpreting these patterns within the appropriate context to provide meaningful insights. The importance of this process for the compliance professional cannot be overstated. Pattern recognition requires both creativity and flexibility, and it can help predict future outcomes, optimize processes, and inform decision-making in compliance programs. I also discuss the significance of an iterative approach, which involves continuous improvement based on new information and collaboration with others to enhance analytic capabilities and gain deeper insights. Check out this most unique and interesting episode of the Data-Driven Compliance podcast, where Sherlock Holmes instructs the modern compliance professional on Data-Driven Compliance.  Resources: The New Annotated Sherlock Holmes Sherlock Holmes FAQ  Tom Fox  Connect with me on the following sites: Instagram Facebook YouTube Twitter LinkedIn
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    20 分
  • The Journeys of Albemarle and ABB to Data-Driven Compliance, Part 2

    The Journeys of Albemarle and ABB to Data-Driven Compliance, Part 2
    2024/01/23
    Are you struggling to keep up with the ever-changing compliance programs in your business? Look no further than the award-winning Data Driven Compliance podcast, hosted by Tom Fox, is a podcast featuring an in-depth conversation around the uses of data and data analytics in compliance programs. Data Driven Compliance is back with another exciting episode. In this special second part of a two-part podcast, I co-host with Vince Walden, CEO of KonaAI, to visit with our guests Andrew McBride, Chief Risk Officer at Albemarle and Tapan Debnath, Head of Integrity, Regulatory Affairs & Data Privacy - Process Automation at ABB on their respective company’s journey to data-driven compliance.  Debnath's perspective on the challenges and strategies in compliance data analytics is centered on the need for clear goals, defined processes, and the importance of early planning and resource allocation. He sees compliance data analytics as a journey rather than a project, encouraging organizations to start with imperfect data and refine their processes over time. On the other hand, McBride's perspective is focused on prioritization, resource allocation, and audience-driven decision-making. He emphasizes the iterative nature of data analytics projects and believes that a successful ethics and compliance program does not necessarily require a large data analytics team, but rather the right roles and support from the IT function. Join Tom Fox and Vince Walden as they delve deeper into these insights with Tapan Debnath and Andrew McBride on this episode of the Data Driven Compliance. Key Highlights ·      Navigating Data Privacy Laws Across Jurisdictions ·      Strategic Steps in Ethics and Compliance Analytics ·      Unlocking AI's Potential in Compliance Analytics ·      Actionable Insights from Data Analytics ·      Leveraging Documentation for Enhanced Compliance and Risk Mitigation Resources: Vince Walden on LinkedIn KonaAI Tom Fox  Connect with me on the following sites: Instagram Facebook YouTube Twitter
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    30 分
  • The Journeys of Albemarle and ABB to Data - Driven Compliance

    The Journeys of Albemarle and ABB to Data - Driven Compliance
    2024/01/16
    Are you struggling to keep up with the ever-changing compliance programs in your business? Look no further than the award-winning Data-Driven Compliance podcast, hosted by Tom Fox. This podcast features an in-depth conversation around the uses of data and data analytics in compliance programs. Data-Driven Compliance is back with another exciting episode. Today, I co-hosted with Vince Walden, CEO of KonaAI, to visit with our guests Andrew McBride, Chief Risk Officer at Albemarle, and Tapan Debnath, Head of Integrity, Regulatory Affairs, & Data Privacy—Process Automation at ABB, on their respective companies' journeys to data-driven compliance. We consider the importance of integrating due diligence systems with business conduct and anticipate 2024 to be a breakthrough year for data-driven compliance. McBride, recognized by the Department of Justice for his work in data-driven compliance, believes in the critical role of data in identifying and responding to risks, testing the effectiveness of compliance programs, and reporting to internal stakeholders. Debnath stressed the need for visibility and alignment with senior business stakeholders during investigations and the use of data analytics platforms to measure integrity and key performance indicators. Join Tom Fox, Vince Walden, Andrew McBride, and Tapan Debnath on this episode of the Data Driven Compliance podcast as they delve deeper into the challenges and importance of data-driven ethics and compliance programs. Key Highlights: Using data analytics to assess program effectiveness Proactive risk management through continuous monitoring Leveraging due diligence for proactive risk management Data transparency and collaboration for compliance success Transitioning from external dependencies to internal capabilities Resources: Vince Walden on LinkedIn KonaAI Tom Fox  Connect with me on the following sites: Instagram Facebook YouTube Twitter LinkedIn
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    28 分
  • Jag Lamba on Revolutionizing Procurement and Compliance Processes

    Jag Lamba on Revolutionizing Procurement and Compliance Processes
    2023/12/28
    Are you struggling to keep up with the ever-changing compliance programs in your business? Look no further than the award-winning Data Driven Compliance podcast, hosted by Tom Fox, This podcast features an in-depth conversation around the uses of data and data analytics in compliance programs. Data Driven Compliance is back with another exciting episode. Today, I visited Jag Lamba, founder and CEO of Certa, on Certa tools, which facilitate data-driven compliance. Jag emphasizes the importance of solving real-existing problems with AI. Certa's AI tools are designed to address tangible challenges faced by clients rather than being mere marketing buzzwords. Lamba highlights the increasing dynamism in procurement and the prevalence of supply chain disruptions, especially in the wake of the pandemic and geopolitical issues. The agility provided by Certa's AI tools becomes crucial in such scenarios, enabling organizations to navigate these challenges effectively. The impact of Certa's AI tools goes beyond streamlining processes. Lamba emphasizes that digitization and automation not only enhance efficiency but also enable organizations to be more agile and responsive to changing requirements. By digitizing processes related to compliance, procurement, or environmental, social, and governance (ESG) initiatives, organizations can identify opportunities for improvement and drive better business processes and controls. This not only benefits the organization as a whole but also enhances the standing of the individuals responsible for managing these processes within the firm. Resources: Jag Lamba on LinkedIn Certa  Tom Fox  Connect with me on the following sites: Instagram Facebook YouTube Twitter LinkedIn
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    26 分