For at least ten years, Germany’s financial regulator heard detailed complaints from reliable sources about a $2 billion accounting fraud at Wirecard AG but failed to act.… Continue Reading
In Wolfburg, Germany, at the global headquarters of the world’s largest automaker, there was little concern among VW’s engineers that they were doing anything unethical or illegal when they created “cheating” software for emissions tests.… Continue Reading
During most interviews, I’m asked this question or something like it: More companies than ever have compliance programs. Yet huge scandals keep making headlines. What gives?
To be fair, there’s plenty of evidence that compliance has failed: Volkswagen cheated on diesel emissions tests.… Continue Reading
One of the most common discussions in the ethics and compliance community today revolves around the idea of using corporate values to foster ethics in organizations. Though this conversation has helped practitioners move away from a check-the-box compliance approach, practices based on corporate values have unwittingly created a check-the-box approach to ethics, obscuring the disconnect between external values and what the organization actually values.… Continue Reading
According to the Edelman Trust Barometer, the United States suffered a “Trust Crash” in the past year, reflecting a 37 point loss of trust in four institutions (government, business, media, and NGOs), more than any of the other countries surveyed.… Continue Reading
The DOJ unsealed an indictment Thursday charging the former head of Germany’s biggest company with helping hide emissions cheating software used to deceive U.S. regulators and car buyers.
Martin Winterkorn, 70, Volkswagen’s former chief executive, was charged in a sixteen-count indictment with conspiracy and wire fraud.… Continue Reading
Earlier this month, Oliver Schmidt, 48, a German citizen and the former general manager of Volkswagen AG’s U.S. Environment and Engineering Office, was sentenced to 84 months in prison for helping VW cheat on diesel emissions tests and covering up the scheme.… Continue Reading
Until the SFO announced its charges against Barclays, not a single UK bank or individual had faced criminal prosecution for their role in the financial crisis of 2008.
The financial crisis and the recession that resulted is the root cause of the austerity measures that are causing such deep damage to the UK’s public bodies, including local councils, the National Health Service, fire departments and schools.… Continue Reading
Hardly a week passes without at least one corporate crisis in the news, often with unpredictable and long-term negative consequences, impacting not only the organization’s reputation, but also all its internal and external stakeholders.… Continue Reading
Trust Across America’s focus has always been on finding and highlighting the “best in breed” corporate citizens while leaving the worst for the scrutiny of others. But today is only Wednesday and my inbox is swamped with so many trust busting stories that my head is spinning.… Continue Reading
International investigations are the heart and soul of FCPA inquiries. As denoted by its title, the Foreign Corrupt Practices Act deals with bribes and offers to foreign officials and those of foreign state owned enterprises.… Continue Reading