Monthly Picks The Dark Side of ESG and the Energy Transition The Green Hyena, 15/12/202317/12/2023 As we approach the holiday season and the start of 2024, it is the perfect moment for reflection and forward planning. You might even be thinking of setting goals for the new year. Considering recent events, such as the Climate Summit in Dubai, the implementation of the Corporate Sustainability Reporting… Continue Reading
Regulatory Enforcement What The US Enforcement Action Against Tysers And H.W. Wood Limited Teaches Us About How Bribery And Corruption Works (Part I) The Green Hyena, 11/12/202312/12/2023 On 23 November 2023, the United States Department of Justice unsealed the deferred prosecution agreements (‘DPA’) of the cases from the United States v. Tysers Insurance Brokers Limited and H.W. Wood Limited. Tysers and Wood, two UK reinsurance companies, were accused of bribing Ecuadorian government officials. The DPA’s provide valuable… Continue Reading
White-Collar Crime Fight Corruption, because it is the right thing to do The Green Hyena, 09/12/202309/12/2023 Today, 9 December, marks the international anti-corruption day. As every year on international anti-corruption day, our e-mail boxes, newsletters and LinkedIn feeds are flooded with messages and stories about bribery and corruption. Although such wave of information on this topic creates the very much needed attention, we see it often… Continue Reading
White-Collar Crime Unwrapping Bribery and Corruption: a home renovation in return? The Green Hyena, 03/12/202304/12/2023 Last week we published an article in the “How They Do It” series about bribery and corruption through travel and entertainment. The following day, the United States Attorney’s Office published a press release regarding their latest enforcement action. The case shows a different way in which bribes can be paid… Continue Reading
White-Collar Crime How They Do It: Bribery and Corruption Through Travel and Entertainment The Green Hyena, 29/11/202330/11/2023 Getting involved in a bribery and corruption scandal is a risk for every organisation, regardless geography and industry. Although some industries or geographies are more prone to bribery and corruption risks, it is something that can happen everywhere. Bribery and corruption cause massive harm to societies and economies, undermining the… Continue Reading
Longread The Monaco Memo and the Future of Corporate Compliance: A Comprehensive Overview The Green Hyena, 19/11/202322/11/2023 In the ever-evolving story of corporate crime, a new chapter unfolded with the issuance of a memo by Deputy Attorney General Lisa Monaco. Hereinafter “The Monaco Memo”. The Monaco Memo marks a historical shift in the U.S. Department of Justice’s (“DOJ”) approach to tackling corporate misconduct. Building upon the legacy… Continue Reading
White-Collar Crime Another ICIJ exposure: the Cyprus-Russia Financial Nexus The Green Hyena, 17/11/202322/11/2023 The recent “Cyprus Confidential” report by the International Consortium of Investigative Journalists (ICIJ) and Paper Trail Media has revealed a deep financial connection between Cyprus and Russian billionaires. This investigation used over 3.6 million leaked documents to uncover how Cyprus has become a key location for Russian oligarchs to store… Continue Reading
White-Collar Crime Understanding Fraudsters Goes Beyond Stereotypes: Why Profiling Fraudsters is Useless The Green Hyena, 15/11/202310/01/2024 In the world of fraud detection we often come across the notion of profiling fraudsters to anticipate and prevent fraud. However, the practice of categorising fraudsters into specific profiles, might be misleading and, in many ways, ineffective. We are of opinion that such profiles makes us focus on the wrong… Continue Reading
Effective Compliance The Illusion of Control (Part II): A False Sense of Security The Green Hyena, 15/11/202322/11/2023 Effective internal controls are good for business. At least, this how COSO (Committee of Sponsoring Organizations of the Treadway Commission) introduces the purpose of internal control. According to the COSO website, internal controls have a value beyond compliance and external financial reporting. Effective internal controls can help an organisation articulate… Continue Reading
Effective Compliance The Illusion of Control (Part I) – The Internal Control Paradox The Green Hyena, 14/11/202322/11/2023 The Committee of Sponsoring Organizations of the Treadway Commission (COSO) was established in 1985 in response to a series of high-profile financial scandals that were made possible by weaknesses in internal control systems. The Treadway Commission, named after its chairman, James Treadway, was established to address concerns about fraudulent financial… Continue Reading