Compliance Officers Playbook
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Compliance Officers Playbook is your trusted companion in the world of compliance. Whether you’re a new to Compliance or a Junior Professional aiming to fast-track your journey to becoming a successful Chief/Compliance Officer, or you are a new or a seasoned Chief/Compliance Officer looking to sharpen your skills and broaden your expertise, this podcast delivers actionable insights, industry best practices, and thought-provoking discussions to elevate your career. Join us as we uncover the strategies and tools that empower compliance professionals to lead with confidence and integrity.
Compliance Officers Playbook is your trusted companion in the world of compliance. Whether you’re a new to Compliance or a Junior Professional aiming to fast-track your journey to becoming a successful Chief/Compliance Officer, or you are a new or a seasoned Chief/Compliance Officer looking to sharpen your skills and broaden your expertise, this podcast delivers actionable insights, industry best practices, and thought-provoking discussions to elevate your career. Join us as we uncover the strategies and tools that empower compliance professionals to lead with confidence and integrity.
302 Episodes
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In this episode, we explore how Artificial Intelligence (AI) is reshaping the internal audit profession. While there’s widespread agreement that AI won’t replace human auditors, it’s clear that it will transform their roles. We look at real-world perspectives from auditors who are already using AI to automate repetitive tasks like risk assessments and report drafting, freeing up time for more complex, value-added work. At the same time, we discuss AI’s current limitations, especially in areas that demand human judgement, critical thinking, and direct client engagement. Drawing on insights from leading industry voices, we highlight why embracing AI is essential for the future of internal audit—despite challenges such as data privacy, skill gaps, and access to quality data. Ultimately, the episode paints a picture of a collaborative future, where auditors harness AI to enhance their impact, focus on strategic advisory roles, and continuously upskill to stay ahead in an evolving technological landscape.
The FATF (Financial Action Task Force) Toolkit provides a comprehensive framework for conducting National Risk Assessments (NRAs) on money laundering (ML), terrorist financing (TF), and proliferation financing (PF). It includes practical quick guides for evaluating complex areas such as corruption, virtual assets (VAs) and virtual asset service providers (VASPs), legal persons and arrangements, and the informal economy. The toolkit also features cross-country comparisons of ML threats, classifications of vulnerabilities, and access to NRA tools and global data sources from organisations like the World Bank, IMF, and Council of Europe. A key theme is the need to tailor risk assessments to each country’s unique context, ensuring a nuanced understanding of threats. Importantly, the guidance emphasises not only mitigating financial crime risks but also considering the wider social and environmental impacts of these crimes, promoting a more holistic approach to financial integrity.
In this episode, we explore the evolving role of Internal Audit under the Global Internal Audit Standards (GIAS 2024). Once seen primarily as a compliance checkpoint, internal audit is now transforming into a strategic, forward-looking partner within organisations. We discuss key shifts, including moving from static annual plans to agile, rolling models and transitioning from simply reporting problems to delivering actionable insights and foresight. The future of internal audit is deeply connected to organisational culture, leveraging analytics and AI to address real-time risks such as cybersecurity, ESG, and emerging technologies. Ultimately, the episode highlights how great auditors will go beyond identifying issues—they’ll uncover root causes and actively help shape strategies for long-term success.
In this episode, we explore the complex and often uncomfortable world of risk management, especially for those with a perfectionist mindset. Unlike compliance, which operates with clear rules and definitive answers, risk management lives in the grey areas of uncertainty. We discuss why business growth actually depends on embracing this uncertainty rather than trying to eliminate it. The episode highlights how effective risk management is about building resilience—making informed decisions with incomplete information while staying open to opportunities that emerge from the unknown.
In this episode, we dive into Switzerland’s heated debate over proposed anti-money laundering (AML) reforms driven by FATF recommendations. Lawmakers are pushing back against stricter rules for lawyers, advisers, and trusts, arguing that excessive regulation could weaken Switzerland’s financial competitiveness and autonomy. This resistance comes despite warnings from the Federal Department of Finance that failing to act could harm the country’s international credibility. We explore how these political tensions have led to key exemptions, including non-profit organisations and certain trust structures being left out of a new transparency register. The debate is unfolding at a critical time, as global competition intensifies—particularly with Hong Kong expected to overtake Switzerland as the world’s leading cross-border wealth management hub by 2025.
In this episode, we examine the corruption and money laundering case involving Georgia’s former Defense Minister, Juansher Burchuladze. According to investigators, Burchuladze abused his authority in 2023 by orchestrating a non-competitive procurement of medical equipment, inflating prices for personal and family gain, and causing more than 1.3 million GEL in losses to the Ministry of Defense. To conceal these illicit funds, he and his wife allegedly purchased property in Spain in 2025 using unsubstantiated income, later creating a fake real estate agreement in Tskneti to disguise the money’s origin. Investigators also discovered that Burchuladze failed to disclose the Spanish property in his asset declaration, effectively laundering 1.5 million GEL. Facing charges that carry a potential 12-year prison sentence, the Prosecutor’s Office is seeking his pre-trial detention as the investigation continues.
In this episode, we explore a recent advisory from the Financial Crimes Enforcement Network (FinCEN) on the growing threat of Chinese Money Laundering Networks (CMLNs). These networks play a key role in moving illicit funds, including those connected to cartels involved in fentanyl production. We break down FinCEN’s guidance for U.S. financial institutions, including how to detect and report suspicious activity linked to these operations. The episode also discusses the potential for increased sanctions against foreign banks that facilitate these activities and the importance of thorough international banking reviews. Finally, we highlight why strong third-party due diligence is essential to protect businesses from the serious risks of money laundering and cartel-related financial crime.
In this episode, we cover the recent case of Dutch neobank Bunq, which has been fined €2.6 million by the Dutch central bank for repeated failures in its anti-money laundering (AML) controls. Despite prior warnings and interventions, Bunq reportedly fell short in investigating suspicious transactions and applying adequate scrutiny to certain customers across multiple cases. This enforcement action reflects a broader wave of heightened regulatory scrutiny affecting both traditional banks and fintechs in the Netherlands. While Bunq is challenging the fine and cites ongoing technological improvements, the case highlights the difficult balance digital-first banks must strike between rapid innovation and strict compliance standards. With the outcome of Bunq’s objection still pending, this serves as a strong reminder to the fintech industry: robust AML systems are not optional—they’re essential.
In this episode, we examine the ongoing criminal investigation into Roman Abramovich, former owner of Chelsea FC, led by Jersey authorities. The probe focuses on allegations of corruption and money laundering tied to the origins of Abramovich’s wealth, particularly his multibillion-dollar sale of oil and gas giant Sibneft in 2005. Swiss courts have ordered the release of key banking documents to assist investigators, shedding light on the complex movement of funds across offshore entities and accounts with limited economic transparency. The investigation also looks into potential sanctions breaches related to asset transfers around the time Abramovich was sanctioned following Russia’s invasion of Ukraine. While Abramovich denies any wrongdoing, Swiss judges have determined there is sufficient evidence to continue the inquiry, marking a significant development in the international fight against financial crime.
In this episode, we introduce the Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA), the European Union’s new decentralised agency designed to harmonise and strengthen AML/CFT supervision across member states. We explore AMLA’s core functions, including direct oversight of high-risk financial entities, coordination of national financial intelligence units (FIUs), and the development of common regulatory standards. The discussion highlights how AMLA seeks to close gaps and inconsistencies in national supervision, ultimately boosting the EU’s effectiveness in fighting financial crime. We also cover its establishment timeline and share an important warning: AMLA will never contact individuals directly for financial information or issue personal fines, helping citizens avoid scams while the agency takes shape.
In this episode, we unpack the multifaceted world of dormant accounts—what they are, the risks they pose, and how they’re managed across different contexts. We explore best practices for identifying and securing inactive accounts, from fraud prevention to working with executors, while addressing potential risks like identity theft, unexpected fees, and credit score impacts. We highlight the UK’s Dormant Assets Scheme, a voluntary initiative aimed at reuniting people with their forgotten financial assets or redirecting them to social and environmental causes. The episode also examines the role of dormant accounts in fraud detection, with sudden reactivation or large transactions serving as potential red flags, and stresses the need for long-term monitoring strategies. Finally, we discuss the critical importance of identity verification in safeguarding dormant accounts, protecting savings, and ensuring access to compensation schemes.
In this episode, we cover a recent enforcement case from the UK’s Financial Conduct Authority (FCA) involving the conviction of Daniel Pugh, who ran the £1.3 million Imperial Investment Fund—a Ponzi scheme that defrauded 238 investors. Largely promoted through Facebook, the scheme lured victims with promises of unrealistic daily, weekly, and annual returns. We discuss the charges brought against Pugh, including conspiracy to defraud and breaches of the Financial Services and Markets Act 2000 for unauthorised regulated activity and unlawful promotions. The FCA has reaffirmed its commitment to tackling financial crime and will now pursue confiscation proceedings to recover the illicit profits from this case.
In this episode, we shine a spotlight on major financial crimes—money laundering, fraud, bribery, corruption, and market abuse—unpacking their definitions, common perpetrators, and methods, including the three-stage laundering process of placement, layering, and integration. We examine why certain financial products and corporate structures are especially vulnerable, and how strong measures like customer due diligence (CDD), enhanced checks for Politically Exposed Persons (PEPs), and robust internal controls can help prevent abuse. The episode also explores the rising importance of ESG factors, the role of conduct risk management in fostering a customer-first culture, and the need for prudential compliance to maintain market stability. Throughout, we highlight how effective GRC frameworks—supported by continuous staff training—form the backbone of prevention and resilience in the fight against financial crime.
In this episode, we focus on the real-world application of Governance, Risk, and Compliance (GRC) within organisations. We break down what effective GRC looks like in practice, exploring the standards that guide firms in building strong controls and demonstrating the value of well-implemented frameworks. The episode highlights the vital roles and responsibilities of compliance functions and professionals, including the key skills and attributes needed to succeed in this field. We also examine how GRC connects with organisational culture and ethical practices, making the case for a proactive, forward-looking approach to regulatory change rather than a reactive one.
This episode provides an overview of the Travel Rule's implementation across various global jurisdictions. The Travel Rule requires Virtual Asset Service Providers (VASPs) to share customer data during virtual asset transfers to combat money laundering and terrorist financing. Different countries have established varying thresholds, some having zero-threshold rules where all transactions are subject to the regulation, and others setting a minimum transfer amount. Compliance dates and specific requirements, such as those for self-hosted wallets, also differ widely. Some jurisdictions are actively enforcing the Travel Rule, whereas others are in a grandfathering period or have not yet set a date for implementation. VASPs must navigate these differing regulatory landscapes to ensure they comply with the relevant laws.
The European Commission published guidelines in 2025 outlining prohibited artificial intelligence (AI) practices as defined by Regulation (EU) 2024/1689 (AI Act). These guidelines clarify the Commission's interpretation of Article 5 of the AI Act, ensuring consistent application across member states from February 2025. The document details specific AI practices considered harmful and in violation of fundamental rights, such as manipulative AI, social scoring, biometric categorisation, and untargeted scraping of facial images. It further addresses exceptions, enforcement, and the interplay with other Union laws, like data protection and non-discrimination regulations. The guidelines are non-binding practical guidance for competent authorities and AI providers to ensure compliance, aiming to protect fundamental rights while promoting innovation. The commission will provide additional support and will review and update the guidelines as needed.
The Financial Conduct Authority (FCA) examined ongoing financial advice services to ensure consumers receive the services they pay for. The review analysed data from 22 firms regarding suitability reviews, finding they were mostly delivered. However, some clients declined reviews, and a small percentage of firms failed to offer them, raising concerns. The FCA expects firms to rectify any shortcomings and proactively contact affected consumers, potentially offering redress where services were not provided. The FCA also provided guidance on good and poor practices observed during the review. Further, they plan to review existing rules for ongoing advice considering market developments and the Consumer Duty. Consumers are advised to complain to firms directly if concerned, utilising resources like MoneyHelper and the Financial Ombudsman Service if needed.
Covering an article from Merkle Science reports on a $1.5 billion hack of the Bybit cryptocurrency exchange, highlighting vulnerabilities in multi-signature cold storage. The attackers manipulated the user interface of transaction verification tools, causing operators to unwittingly authorise a malicious transfer, and the stolen funds were then laundered through complex methods including DEXs, address layering and non-KYC exchanges. This incident is similar to breaches at WazirX and Radiant Capital, indicating a broader systemic issue. Bybit responded swiftly, freezing assets and processing withdrawals efficiently, while Safe Wallet implemented enhanced security measures, and the incident is used to discuss recommended countermeasures including MPC wallets and improved training, The article also links the Bybit hack to other exchange breaches and stresses the need for stronger security and blockchain forensics to protect digital assets.
The European Union has enacted significant sanctions against Russia in response to human rights abuses, its aggression against Ukraine, and hybrid threats. These measures specifically target individuals and entities responsible for severe human rights violations, the repression of civil society and democratic opposition, and those undermining the rule of law. Sanctions include travel bans, asset freezes, and prohibitions on providing funds to listed individuals and entities, including penal colonies, judicial figures involved in politically motivated cases, and high-level officials. Furthermore, the EU has imposed trade restrictions on equipment that could be used for internal repression or for monitoring telecommunications. These actions demonstrate the EU's condemnation of Russia's actions and its support for human rights and democracy.
This Episode covers the the European AI Office's repository of AI literacy practices, which is intended to help companies comply with EU regulations. It highlights limitations of the repository, such as the vague descriptions and KPIs, the broad size and sector categorisations, and its non-recommendatory nature.
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