A beginner’s guide to cryptocurrency

Are you considering investing in cryptocurrency but feeling overwhelmed by all the information and terms out there? You’re not alone. As digital currencies are gaining


A Guide to BSA/AML Internal Audit

Banking institutions are under increased pressure to prevent and detect money laundering and terrorist financing. In response, many banks have implemented or strengthened their anti-money

Sanctions Guide: What is a SDN ?

For professional clients in the financial services industry, understanding and complying with international sanctions is critically important. Sanctions can not only expose a company to


AML Compliance for Money Service Business

Financial institutions are required to create, implement, and maintain an efficient anti-money laundering (AML) compliance program by the Bank Secrecy Act (BSA) and its associated

Lessons to Learn from AML Failures

Money laundering is a serious issue that has caught the attention of businesses, financial services, and governments throughout the world. Despite continued efforts to monitor

How to Carry Out Effective AML Investigations ?

As the financial sector faces increasing compliance pressure it is becoming increasingly important to carry out effective Anti-Money Laundering (AML) investigations. Effective AML investigations help

CFPB Readiness Assessments for Small-Dollar Lenders

Small-dollar lenders are required to comply with the Consumer Financial Protection Bureau (CFPB) to avoid enforcement actions and fines. Payday, installment, and car title lenders must devise effective compliance management systems and risk-mitigation initiatives to ensure applicable regulations are a part of operational processes. Riddle Compliance routinely assists small-dollar lenders with internal audit procedures, corporate trainings, privacy matters, and a host of other consulting and advisory solutions.

Compliance Considerations for Small-Dollar Lenders

Short-term, small-dollar financial services organizations, such as payday lenders, installment loan lenders, and car title lenders are in the wake of burgeoning oversight from the Consumer Financial Protection Bureau (CFPB). Lenders in these industries must shift their attention to potential risks involving all operational aspects of a loan cycle. Lenders are required to be proactive in mitigating misrepresentations and other misconduct by developing comprehensive governance, risk, and compliance controls.

Fintechs: Navigating the Uncertainty of Regulatory Compliance

Fintechs struggle with a highly complex regulatory landscape. This industry has no “fintech-specific” compliance framework, but all organizations’ operations will almost certainly fall within the preview of various regulatory bodies. What’s more, companies are required to register and comply with requirements defined by one or several of these regulatory entities. The situation is also worsened by the fact that organizations in this sector must comply with regulations at the state and federal levels.

In the Wake of Antitrust Compliance Requirements

Antitrust compliance programs must follow a similar structure to other compliance programs. And the Department of Justice (DOJ) 2020 guidance emphasizes that an antitrust compliance policy must be well designed to detect and prevent any antitrust violations. Companies that have implemented such programs can quickly identify and address unlawful anticompetitive practices. As a result, they gain the trust of antitrust authorities should a violation arise.

How to Prevent the Risk of a Corporate Integrity Agreement

Fraudulent claims in the health sector range from falsely billing for several thousand dollars to million-dollar kickback schemes for medical equipment. Although it’s unclear whether the pandemic has fueled these claims, they are at a peak high, with a recent government report indicating the discovery of fraudulent claims worth hundreds of billions of dollars, submitted by over 300 licensed medical professionals.

Healthcare Compliance Program: Building for Future Success

It might feel tasking to comply with the numerous federal laws that dictate how healthcare services should run. However, having a robust compliance program in place will work in your favor. Most compliance programs exist to ensure that providers follow government regulations without reducing the quality of care given to patients. It prevents any criminal practices from thriving in your organization and creates an overall risk-free environment.

Strengthening Your CMS and OIG/HHS Compliance Programs

Complying with the various federal and state laws and regulations governing healthcare practices in the U.S. can seem daunting and overwhelming – and in some cases, it is. However, establishing effective compliance programs at your practice or organization is beneficial. They aim to protect patients, prevent criminal conduct, and enforce government regulations without impeding quality service to patients.

Strategies for Building an Effective Compliance Program 

The DOJ released new compliance guidelines in 2019 focusing on the issues regulators and prosecutors will look for when evaluating the effectiveness of an organization’s compliance programs. The updated guidance adds 61 new factors that firms should consider when assessing the effectiveness of their compliance programs. The DOJ expects organizations to not only implement compliance programs but also ensure that the programs are effective.

Auditing Ethics & Compliance Programs

Compliance program audits should be prioritized by CCOs, CFOs, GCs and CEOs alike. Communication and support from top management during the entire audit process plays a crucial role in extracting the maximum benefits from the initiative. Compliance programs should be qualitative and risk-centric to ensure comprehensiveness.

GDPR and International Data Transfers

The GDPR contains principles governing data security for transfers of data outside of the EU.  The GDPR requires that any international data transfer may be undertaken only if the third countries (those outside of the EU) implement efficient data protection mechanisms.

GDPR and the role of a Data Protection Officer

How can businesses ensure that all their legal obligations emanating out of GDPR are complied with in spirit and substance?  Well, the GDPR itself has an answer to this question – appoint a Data Protection Officer (“DPO”).

Keep on Exercising Your Compliance Program

In order to get all segments of a business involved, compliance departments must focus on practical initiatives that feel less like mundane laps around a track and more like a high-intensity Zumba class—full of enjoyment, movement, creativity and old-fashioned fun.  

GDPR and Third Parties: What Companies need to know

The GDPR clearly states that all businesses and their partners are responsible for protecting user data. Third parties are legally obligated to comply with all aspects of the regulation to ensure consistency and true protection for consumers.

GDPR: What Companies Need to Make Available to Consumers

Everyone has been inundated with notices from companies explaining changes to their policies and seeking consent from users over the past few weeks. These changes relate to various provisions of the GDPR, and as companies adopt compliance controls to manage user data, the effects of the GDPR will continue to surface.

Focus On Human Nature and Ethics, Not Compliance

Compliance is a complex mosaic. Now, government bodies and judiciaries at the local, state, and federal levels constantly pry into industries for wrongdoing. Learn why and how your compliance policies should go beyond simply maintaining the status quo.

We are dedicated to delivering top-notch compliance consulting services, ensuring your success and peace of mind. This principle is the cornerstone of our approach in every project we undertake. Contact us today for a free consultation and see how we can support your compliance needs.