Donna Boehme, the “Lion of Compliance,” comments on Novartis as a new “rock star” on the corporate compliance landscape, observing that the company has elevated its approach to compliance, culture and trust to best practice “Compliance 2.0” status – first, with its 2014 appointment of an independent and empowered CECO with true compliance SME (earned in the field) and now, with the elevation of the role to include all management risk functions and with a seat on the executive management team. She also notes as best practice the company’s establishment of a new bonus system that links bonuses to ethical leadership behavior, a feature many leading companies have yet to achieve. Continue Reading Pharma Giant Graduates to Compliance 2.0
A report released by Bloomberg today states that criminal investigators from the U.S. Department of Justice have contacted Deutsche Bank AG and Bank of America Corp. about transactions they handled for the small Danske Bank branch in Estonia that’s at the center of one of the biggest money-laundering investigations in history. The investigators are also questioning JPMorgan Chase & Co.’s work with the branch. Continue Reading Justice Department Questioning Deutsche Bank, BofA & JPM Involvement Danske Money-Laundering Scandal
November 12, 2018. Washington, D.C. The leading whistleblower and qui tam attorney in the United States, Stephen M. Kohn is referred to as the “Dirty Harry” of Financial Fraud by the Danish press. Kohn represents Danske Bank whistleblower Howard Wilkinson, who uncovered what some are calling the largest money-laundering scandal in world banking history. Continue Reading American Whistleblower Attorney “Dirty Harry” of Denmark’s Financial Fraud
Washington, D.C. September 27, 2018. On September 26, 2018, an Estonian newspaper identified Howard Wilkinson as the Danske Bank whistleblower. Mr. Wilkinson is a former Danske Bank employee who confidentially raised concerns over an illegal money laundering scheme in 2013. Last week news reports on the $234 billion scandal revealed the existence of a whistleblower but not the identity. Continue Reading Attorneys for Danske Bank Whistleblower Demand Protection After Identity Leaked
WASHINGTON, D.C. | July 12, 2018—The Commodity Futures Trading Commission (CFTC) today announced its largest whistleblower award to-date in a commodity fraud case. According to the Commission, it issued “an award of approximately $30 million to a whistleblower who voluntarily provided key original information that led to a successful enforcement action” Continue Reading Largest Award Issued in Commodity Fraud Case
Regulators and law enforcement must treat the illegal wildlife trade as a financial crime, argues Standard Chartered Bank in a recent bulletin.
“Approaches to tackling this trade have been limited by too-narrow a conception of it as a conservation issue,” it states. “Efforts to date have concentrated on the supply-side response. This is changing.”
The Pennsylvania Supreme Court issued a big decision for whistleblowers in Bailets v. Pennsylvania Turnpike Commission, 2018 WL 1516785 (Pa. 2018). The Court ruled that noneconomic damages are compensable under Pennsylvania’s whistleblower law.
Ralph Bailets was a former Manager of Financial Systems and Reporting with the Pennsylvania Turnpike Commission. During his tenure, he became concerned about the government contractor Ciber Inc., which was politically-connected to leaders of the Commission. When competing for one infrastructure project, Ciber offered the most expensive bid, yet still was chosen for the contract. As Ciber struggled to perform the contract, Bailets took the issue to his supervisor. Bailet’s supervisor initially warned him that Ciber had friends in high places, and later advised colleagues that Bailet “should be kept on a short lease.” He was fired shortly thereafter.
In his testimony before Congress last week, Facebook CEO Mark Zuckerberg received tough questions from members of Congress about wildlife trafficking and the illegal ivory trade on his two-billion user social media site.
At the Joint Senate Committee Hearing, Senator Chris Coons (D-DE) referenced a recent Time article examining illicit wildlife crime on Facebook, stating, “wildlife traffickers are continuing to use Facebook tools to advertise illegal sales of protected animal parts.” Zuckerberg responded, “we’re going to have more than 20,000 people at the company working on security and content review.”
Will Kramer knows what it means to be a whistleblower. As a former investigative staffer in the Senate, Kramer has ample experience working with whistleblowers. Later while serving as a health safety consultant, Kramer became one himself when he uncovered deeply disturbing conditions and improper handling of hazardous waste at several Greif Inc. plants. Kramer reported potential health, safety, environmental and securities violations to government regulators, members of Congress and the news media after the plants failed to address these issues. Now, as a law student, Kramer has written an important piece on the whistleblower mindset.
In Digital Realty Trust v. Somers the Supreme Court issued a destructive decision that will have far-reaching consequences for whistleblowers. Seemingly unaware of the practical consequences of its decision, the Supreme Court unanimously ruled to leave whistleblowers who report internally without critical protections under the Dodd-Frank Act.
Writing for Law 360, NWC Executive Director Stephen M. Kohn explains that employees now take grave risks in using internal compliance programs. In light of the Supreme Court’s decision, whistleblowers should hire an attorney and take their complaints directly to the Securities and Exchange Commission (SEC).