Podcast
Corruption Crime & Compliance
Hosted by Michael Volkov · EN
Michael Volkov tackles the current and hot topics in the legal realms of corruption, crime, and compliance.
29episodes
Episodes
Newest firstAll episodes
Foreign Bribery Has No Borders
2d ago00:01:10Tap to summarizeWhen it comes to foreign bribery, borders provide no protection.The European Union just approved one of the most significant anti-corruption initiatives in decades, and multinational companies have to pay attention.The EU's Anti-Corruption Directive is designed to harmonize anti-corruption enforcement across the member states.It expands corruption offenses, strengthens enforcement tools, and increases accountability for both individuals and organizations.Companies operating in Europe can expect greater scrutiny of gifts, hospitality, conflicts of interest, influence peddling, and bribery schemes.The overall message is clear.Europe is moving toward a more aggressive and coordinated anti-corruption enforcement system.The Ethics and Compliance Q and A show is produced by One Stone Creative.
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How Many Red Flags Are You Missing?
4d ago00:01:00Tap to summarizeHow many red flags is your company missing?We've seen this pattern repeatedly.A third-party red flag appears.No one knows who owns the escalation process.Business pressure overrides compliance concerns.Documentation is incomplete. Monitoring never occurs.When the regulators arrive, the company can't demonstrate effective oversight.The problem is not simply the underlying misconduct.The problem is the inability to prove that the company exercised reasonable oversight.Enforcement agencies punish misconduct, but they often punish weak governance even more.The Ethics and Compliance Q and A show is produced by One Stone Creative.
Transcribe →Episode 433 -- The Corruption Reckoning: How Government Corruption Destroys Economies, Democracies, and Societies
6d ago00:07:29Tap to summarizeGovernment corruption is often viewed as a political problem, but its consequences extend far beyond government institutions. Corruption distorts economies, undermines democratic legitimacy, destroys public trust, and weakens the social fabric upon which civil society depends. In this episode, Michael Volkov explores the full impact of corruption across economic, political, and social dimensions and explains why anti-corruption compliance efforts represent far more than regulatory risk management. They are essential tools in defending the institutions and values that support free markets, democracy, and the rule of law.
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Regulators Want Proof It Works
1w ago00:01:20Tap to summarizeIf your third-party risk management program uses annual questionnaires and spreadsheets, your program is already obsolete.The third-party risk environment has fundamentally changed.It used to focus on financial stability, insurance, and basic due diligence.Today, your vendors create exposures to AI risks, cybersecurity threats, sanctions violations, privacy failures, supply chain disruptions, and regulatory enforcement.Regulators are no longer asking whether you have a third-party risk program.They're asking whether your program actually works.Annual reviews are no longer enough.Risks change daily.Vendors deploy new AI tools. Ownership changes. Sanctions risks emerge overnight.The future belongs to those companies that embrace continuous monitoring, automated screening, and dynamic risk management.The Ethics and Compliance Q and A show is produced by One Stone Creative.
Transcribe →Episode 432 -- OFAC and OFSI Send a Clear Message: Global Sanctions Compliance Has Entered a New Era
1w ago00:06:10Tap to summarizeThe U.S. Treasury Department's Office of Foreign Assets Control (OFAC) and the UK's Office of Financial Sanctions Implementation (OFSI) recently issued joint guidance comparing their respective sanctions regimes. While the document provides a useful overview of similarities and differences, it also sends a much broader message: international sanctions enforcement is becoming increasingly coordinated. In this episode, Michael Volkov examines why multinational companies should move beyond country-by-country compliance programs and build integrated, enterprise-wide sanctions compliance frameworks. He discusses key differences involving ownership and control, reporting obligations, voluntary disclosures, and strict liability standards, while offering practical recommendations for strengthening global sanctions compliance. As always, the discussion emphasizes practical solutions, ethical leadership, and building compliance programs that work in the real world—because effective compliance is more than following rules; it's earning trust and protecting enterprise value.
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Your Vendors Have Vendors
2w ago00:01:06Tap to summarizeMany companies carefully review each and every vendor.Almost none review their vendor's vendor.This creates one of the biggest blind spots in modern risk management.Your payroll vendor may use a third-party AI provider.Your software company may rely on multiple subcontractors.Your logistics provider may depend on dozens of suppliers across the globe.Every one of these relationships creates additional risk.Cybercriminals are exploiting fourth-party relationships to gain access to enterprise systems.Regulators are paying attention as well.You need to turn your attention to your vendors' vendors.The Ethics and Compliance Q and A show is produced by One Stone Creative.
Transcribe →Episode 431 -- Bosch Pays $43 Million for Illegal Huawei Exports
2w ago00:07:36Tap to summarizeBosch agreed to pay more than $43 million in penalties and disgorgement for illegally exporting products and software to Huawei in violation of U.S. export control laws, while simultaneously receiving the first declination issued under DOJ's revised National Security Division Corporate Enforcement Policy. In this episode, Michael Volkov examines the enforcement action, the compliance failures that led Bosch to misunderstand and misapply the Foreign Direct Product Rule, the warning signs the company failed to recognize, and the lessons organizations can learn about export controls compliance, compliance staffing, escalation procedures, and risk management. The episode also highlights the significant benefits of voluntary self-disclosure, cooperation, and remediation in reducing criminal enforcement risk in today's increasingly aggressive national security enforcement environment.
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Who Owns Third-Party AI Risk?
2w ago00:01:05Tap to summarizeWhen it comes to third-party vendors, what you don't know is hurting you.Third parties rely on AI for customer service, recruiting, compliance screening, marketing, and decision making.But when a third party uses AI, your organization is on the hook for legal, regulatory, contractual, and reputational risks.Organizations need to understand which third parties use AI, what tools they use, what data is being shared, what controls exist, and who is responsible when something inevitably goes wrong.Third-party AI governance is a critical component of vendor management.The Ethics and Compliance Q and A show is produced by One Stone Creative.
Transcribe →Episode 430 -- OFAC's Iran General License X: A Temporary License or a Fundamental Shift?
3w ago00:08:17Tap to summarizeThis episode examines OFAC’s new Iran General License X and why it may represent one of the most significant Iran sanctions developments in years. Michael Volkov explains what the license authorizes, why it matters amid ongoing diplomatic negotiations, and why companies should not mistake temporary sanctions relief for a permanent policy shift. The episode highlights practical compliance steps, including careful transaction analysis, documentation, due diligence, screening updates, and close monitoring before the license expires. As always, the focus is on practical, risk-based compliance: helping companies identify legitimate business opportunities while protecting ethics, integrity, and trust.
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5 Keys to Effective Trade Compliance (Part 2)
3w ago00:01:14Tap to summarizeNot all sanctions violations are willful.Some companies just don't know any better.An effective trade compliance program needs three critical elements.First, in addition to the two we spoke about in the last episode, organizations and companies have to monitor transactions, shipping documents, vessels, payment flows, and escalation of red flags.Employee training is critical.OFAC's compliance framework specifically identifies training as a core compliance expectation.And finally, organizations need to monitor, audit, and test whether their controls are actually working.A compliance program that is never tested is simply operating on assumptions.The best trade compliance programs don't just detect violations, they prevent them.The Ethics and Compliance Q and A show is produced by One Stone Creative.
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