Compliance Officers Playbook
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Compliance Officers Playbook is your trusted companion in the evolving world of compliance. Whether you’re new to the field, a junior professional accelerating toward a more senio role, or a seasoned Chief/Compliance Officer sharpening your skills, this podcast delivers practical insights, best practices, and thought-provoking discussions designed to elevate your expertise.
This show uses AI-assisted tools to bring you timely content. Every episode is reviewed and published by a human compliance professional to ensure, to the best of our ability, clarity and accuracy. Tune in to level up!
This show uses AI-assisted tools to bring you timely content. Every episode is reviewed and published by a human compliance professional to ensure, to the best of our ability, clarity and accuracy. Tune in to level up!
281 Episodes
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In this Compliance Officers Playbook episode, we explore the role and responsibilities of the European Union’s Anti-Money Laundering Authority (AMLA) and how it is reshaping financial crime supervision across member states. AMLA’s core mission is to create legal and regulatory consistency throughout the EU by developing binding technical standards, practical guidelines, and supervisory recommendations.We discuss how these tools clarify compliance expectations, strengthen cooperation between national supervisors, and improve the overall effectiveness of anti-money laundering and counter-terrorism financing controls. The episode also highlights how AMLA balances innovation with continuity by incorporating established regulatory frameworks originally developed by the European Banking Authority.By bringing supervision under a more rigorous and harmonised structure, AMLA aims to reduce systemic vulnerabilities and better protect the EU financial system from money laundering and terrorist financing risks. This episode provides essential context for compliance professionals, policymakers, and financial institutions preparing for the next phase of EU AML oversight.
In this episode, we break down the Financial Conduct Authority’s Final Notice against Nationwide Building Society, which resulted in a £44.1 million fine for serious anti-money laundering (AML) failures. Covering the period from October 2016 to July 2021, the FCA found that Nationwide breached regulatory Principle 3 by failing to adequately organise and control its affairs.We explore the key weaknesses identified by the regulator, including poor customer risk assessments, widespread failures to refresh customer due diligence, and an ineffective transaction monitoring system. The episode also examines how these shortcomings created significant financial crime risks—most notably in cases where customers used personal accounts for business activity without proper oversight.One particularly stark example involved the laundering of millions of pounds in fraudulently claimed Coronavirus Job Retention Scheme (JRS) funds, highlighting how systemic control failures can be exploited at scale. We also discuss how Nationwide’s early settlement led to a reduced penalty, bringing the fine down from more than £62 million.Whether you work in financial services, compliance, or risk management—or simply want to understand how AML failures happen and why regulators are taking a tougher stance—this episode offers clear insights into one of the UK’s most significant recent enforcement actions.
In this episode, we break down the Financial Conduct Authority’s (FCA) latest move to simplify and strengthen the way complaints are reported across the UK financial services sector. The FCA—responsible for regulating firms, overseeing markets, and protecting consumers—is rolling out a major change: replacing five separate complaints returns with one streamlined, consolidated report.We explore why the FCA is making this shift, how it aims to improve data quality and comparability, and what it means for firms’ compliance processes. A key highlight of the new framework is a dedicated requirement for reporting complaints involving vulnerable customers—a step designed to help the FCA better monitor risks and enhance protection for individuals who may need additional support.Tune in for a clear, accessible breakdown of how this initiative supports the FCA’s broader ambition to become a smarter, more effective regulator—reducing unnecessary burdens on firms while reinforcing its consumer-protection mission.
In this Compliance Officers Playbook podcast episode, we unpack a gripping cross-border investigation from OCCRP and KRIK that reveals how Balkan organised crime networks allegedly used banana shipments from Noboa Trading Co.—the family business of Ecuadorian President Daniel Noboa—to smuggle massive quantities of cocaine into Europe.Drawing on confidential Croatian prosecution files and decrypted Sky ECC messages, the exposé shows traffickers bragging about their privileged access to the company’s export routes. Journalists matched these chats to three verified Noboa Trading shipments that collectively hid 535 kilograms of cocaine, representing millions in street value. Through meticulous cross-referencing, investigators identified key players, including Nikola Đorđević, who handled container loading in Ecuador, all under the direction of convicted drug lord Darko Šarić.We explore the political and operational fallout: how these revelations clash with President Noboa’s strong public stance against “narco-terrorists,” his insistence that his family business was unaware of the scheme, and what the findings expose about systemic security failures at Ecuador’s principal port. Tune in for a deep dive into how global supply chains, political influence, and organised crime intersect in this extraordinary case.
Freemium Episode: In this Compliance Officers Playbook podcast episode, we take a critical look at one of the most widely used—but deeply flawed—tools in corporate governance: the risk heat map. While these colorful grids may offer visual comfort, the source argues they create a dangerous illusion of control. Behind the neat presentation lie subjective scores, oversimplified assumptions, and an inability to capture real-world complexity—such as volatility, tail events, and interconnected risks.We explore how internal politics, optimism bias, and the desire for clean reporting often amplify these weaknesses, masking serious financial exposure. You’ll hear why, if heat maps appear in board packs or audit reports, they should serve only as conversation starters, not as the foundation for risk measurement or decision-making.The episode also highlights practical steps organizations can take: being transparent about scoring limitations and pairing any visual map with concrete financial impact ranges. Ultimately, we underscore the core message of the critique—relying on colored squares to define a risk profile isn’t risk management at all. It’s the absence of it.
In this episode, we break down the European Union’s sweeping overhaul of its anti–money laundering and counter-terrorist financing framework under Directive (EU) 2024/1640 (AMLD6). The new rules usher in a much more unified and transparent system for tracking beneficial ownership and cross-border financial structures across the EU.We explore how AMLD6 standardises and interconnects national beneficial ownership registers—tightening registration rules, improving data quality, and ensuring seamless information flow between member states. At the center of this transformation is the newly established Authority for Anti-Money Laundering (AMLA), which will coordinate national Financial Intelligence Units (FIUs) and provide shared infrastructure for advanced analytics.You’ll learn how FIUs will gain direct, unfiltered access to ownership registers, enabling faster, more accurate AML/CFT investigations and stronger enforcement across borders. With significant operational changes expected by 2026, this episode breaks down what compliance teams, financial institutions, and investigators need to know about the EU’s shift toward centralised data, powerful analytical tools, and an integrated enforcement ecosystem.
In this episode, we unpack the Serious Fraud Office’s newly detailed guidance on how corporate compliance programmes are evaluated across England, Northern Ireland, and Wales. The SFO relies on this framework in six key scenarios—from deciding whether to prosecute a company to determining whether a Deferred Prosecution Agreement (DPA) is appropriate.We break down what the guidance means for organisations facing allegations of bribery or fraud, including how the SFO assesses statutory defences like “adequate procedures” for bribery and “reasonable procedures” for failure to prevent fraud. The conversation explores why the SFO places heavy emphasis on the effectiveness and proactive nature of compliance systems—both at the time of the offence and during charging decisions.You’ll also learn why the SFO warns companies against treating compliance as a superficial “paper exercise.” Instead, programmes must be risk-based, proportionate, and continuously reviewed, regardless of a company’s size or sector. Tune in to understand how these standards are reshaping corporate accountability in the UK.
The European Commission announced in December 2025 that it has officially designated Russia as a high-risk jurisdiction due to serious strategic weaknesses identified within its anti-money laundering and counter-terrorist financing frameworks (AML/CFT). This action was taken pursuant to Delegated Regulation (EU) 2025/1393, which committed the Commission to reviewing nations whose membership in the Financial Action Task Force (FATF) had been suspended. Following a detailed technical assessment, the Commission concluded that Russia satisfied the established criteria to be labelled a high-risk third country under the 4th Anti-money Laundering Directive. Consequently, all EU financial entities covered by the AML framework are now required to apply enhanced vigilance when processing transactions involving Russia to preserve the integrity of the EU financial system. The delegated regulation is scheduled to take effect following a period of scrutiny and non-objection from both the European Parliament and the Council.
In this episode, we unpack the major enforcement action taken against Morgan Stanley after Dutch authorities uncovered its role in coordinated tax evasion schemes. Following extensive audits and criminal investigations, regulators issued a €101 million fine—the maximum possible—after determining that the firm used complex trading and derivative strategies to exploit dividend withholding tax rules.We break down how a Dutch subsidiary was positioned as the apparent dividend recipient while the real economic benefits were funneled to foreign institutions that weren’t eligible for Dutch tax credits. The case reveals the intricate architecture behind these cross-border dividend schemes and highlights why prosecutors viewed the conduct as a deliberate misuse of the tax system.Finally, we examine the broader implications for international dividend trading models and what this landmark sanction means for financial institutions operating across jurisdictions. Tune in for a clear, in-depth look at a case reshaping global tax-compliance expectations.
In this episode, we explore the ideas behind “Compliance: Quiet Failure, Safe Guardrails,” a compelling look at how organisational breakdowns rarely result from one dramatic event. Instead, they stem from small, repeated oversights—missed documentation, ignored red flags, and routine shortcuts—that quietly stack up until they explode into full-blown regulatory failures or reputational crises.We discuss why strong compliance isn’t built on emergency responses but on consistent daily behaviours: clear processes, leadership that prioritises risk mitigation, and a culture that understands compliance as a strategic safety mechanism. Rather than a brake on growth, the text argues, compliance is an essential guardrail that enables companies to scale safely and sustainably.Tune in to learn why the quietest failures are often the most dangerous—and how organisations can prevent them.
In this episode, we break down the landmark €21.5 million fine issued to Coinbase Europe Ltd by the Central Bank of Ireland—a ruling widely seen as a preview of what’s to come under the EU’s new Anti-Money Laundering Authority (AMLA).We explore how systematic coding errors left Coinbase’s transaction-monitoring system ineffective for nearly four years, allowing more than 30 million transactions to go improperly screened. Regulators made it clear: technical failures aren’t treated as mere glitches—they’re serious compliance breaches, even if companies later conduct back-reviews to catch missed red flags.The message to the crypto industry is unmistakable. Virtual Asset Service Providers must now operate with the same real-time governance and bank-grade controls expected of traditional financial institutions. As AMLA prepares to centralise and tighten anti-money laundering enforcement across the EU, this case sets a powerful new benchmark. Tune in to understand how this ruling could redefine compliance expectations for crypto players across Europe.
In this episode, we unpack the increasingly complex landscape of the EU’s digital regulatory regime—one that continues to evolve around the foundations set by the General Data Protection Regulation (GDPR). Drawing on recent analyses, we explore how regulators are sharpening their enforcement approach, applying strict criteria that can lead to fines of up to four percent of a company’s global turnover.We look at real-world trends, including record penalties from Spain’s data protection authority, which signal a shift toward targeting systemic weaknesses in data security, governance, and risk management. From there, we examine how the EU’s new AI Act is creating fresh tension within the regulatory ecosystem—particularly where obligations for risk assessments, oversight bodies, and documentation overlap with long-standing GDPR requirements.Finally, we break down the practical guidance organizations must follow for international data transfers, including the need for robust safeguards and thorough transfer risk assessments to stay compliant. If you want a clear picture of where EU digital regulation is heading—and what it means for businesses navigating it—this episode offers a concise, informed briefing.
In this episode, we dive into Wise’s major move into the African market, starting with its newly launched operations in South Africa. After securing conditional approval from the South African Reserve Bank to operate as a regulated foreign-exchange dealer, the London-based fintech is taking a significant step toward transforming one of the world’s most important remittance corridors.We break down how Wise plans to deliver low-cost, real-time international payments to personal customers in its initial rollout—advancing the G20’s goal of faster, cheaper global transfers by 2027. You’ll also hear why Wise executives are calling this a milestone in reducing FX costs, and how UK Prime Minister Keir Starmer has publicly welcomed the move as a boost to UK–South Africa ties.If you want to understand what this expansion means for cross-border finance in Africa and the future of global remittances, this episode has you covered.
In this episode, we break down the Australian Institute of Criminology’s latest statistical report on the true economic toll of serious and organised crime in Australia during the 2023–24 financial year. The headline figure is staggering: an estimated upper cost of $82.3 billion, a sum that accounts for a significant slice of the nation’s GDP.We explore how this massive total is calculated—combining direct criminal losses with the indirect costs of prevention, enforcement, and response across both public and private sectors. From illicit drug markets and sophisticated financial crime to environmental offences, cybercrime, and the rapidly growing illicit tobacco trade, the report reveals just how widespread and costly organised crime has become.Finally, we unpack why the authors believe even these enormous figures are conservative, and what this means for policymakers, industry, and communities trying to curb the influence of organised criminal networks. Tune in for a clear, compelling look at the hidden economic drain shaping Australia’s security and economy.
In this episode, we unpack Transparency International UK’s 2025 assessment of how the UK’s Overseas Territories are progressing—or failing to progress—on creating accessible registers of beneficial ownership. These registers are meant to shine a light on who really owns companies, a crucial step in fighting global illicit finance. But as the report reveals, the reality is far more complicated.We explore how opaque corporate structures in jurisdictions like the British Virgin Islands have enabled massive corruption and money-laundering schemes, and why the Overseas Territories’ shift from fully public registers to more restrictive “Legitimate Interest Access Registers” (LIARBOs) represents a major setback for transparency. You’ll hear which territories scored poorly due to slow implementation, limited access, and processes that could even tip off criminals—and why Montserrat stands out as the lone success story with a completely public, free-to-use register.Finally, we look at the report’s call for the UK government to step in, apply real pressure, and even consider constitutional measures to ensure these territories live up to their commitments. If you want to understand the global stakes of beneficial ownership transparency, this episode gives you the full picture.
In this episode, we break down the major political agreement just reached by EU lawmakers on two transformative pieces of legislation: the Payment Services Directive 3 (PSD3) and the new Payment Services Regulation (PSR). Together, these measures set the stage for a modernized, fairer, and more transparent financial ecosystem across Europe.We explore how the deal aims to crack down on fraud, introduce full reimbursement for victims of impersonation scams, and hold payment providers accountable for transfers sent to mismatched account details. You’ll also hear how the regulations strengthen consumer access to cash, protect open-banking innovators from discriminatory bank practices, and require crystal-clear transparency on fees and exchange-rate margins before any payment is made.If you want to understand how these upcoming changes will shape the way Europeans pay, bank, and protect their money, this episode breaks it all down in plain language. Tune in!
In this episode, we explore the UK Financial Conduct Authority’s evolving approach to crypto regulation, drawing on key excerpts from the FCA’s mandate and a keynote speech by Executive Director David Geale.We break down the FCA’s vision for building a trusted, competitive, and innovative market for cryptoassets and stablecoins—one that doesn’t simply copy traditional finance rules but instead reflects the unique challenges of decentralised technology. You’ll hear how the regulator is shaping a bespoke, proportionate framework, supported by active industry consultations and a new stablecoin-focused cohort within the FCA’s Regulatory Sandbox.We also discuss what’s coming for crypto firms: mandatory authorisation, high standards, and rigorous expectations designed to ensure strong consumer protections once the new regime goes live. And finally, we look at the UK’s commitment to working alongside international partners to influence and align global standards for digital asset oversight.If you want clarity on where UK crypto regulation is headed and what it means for the industry, this episode is your guide.
In this episode, we examine the story behind a major regulatory enforcement action in Luxembourg’s financial sector: the €283,000 administrative fine imposed on Allianz Global Investors’ Luxembourg branch for persistent anti-money laundering (AML) and counter-terrorist financing (CFT) failures.We unpack the findings of a 2018 CSSF inspection that uncovered serious gaps—including the omission of more than 1,000 investors from the branch’s AML/CFT risk analysis and weak due-diligence documentation for politically exposed persons (PEPs). Although AllianzGI maintains that the issues were procedural and have since been fully corrected, the case highlights a broader industry trend in which firms delay critical compliance work to focus on short-term business priorities.We also discuss the timeline: the penalty issued in 2022 and upheld in court in 2025—evidence of the regulator’s determination to confront systemic weaknesses in financial controls.Tune in for a clear look at what this case means for compliance culture, supervisory expectations, and the financial industry’s ongoing struggle to balance growth with robust risk management.Full Episode on Apple Podcast
In this episode, we break down a sweeping Statutes Amendment Bill—an omnibus legislative package crafted to update and refine large sections of the existing legal framework. Spanning 42 separate parts, the Bill reaches across a wide array of principal Acts, making it one of the most comprehensive housekeeping efforts in recent legislative cycles.We walk through the key areas of reform, from environmental and conservation laws to updates in anti-money laundering and counter-terrorism financing rules. You’ll also hear about notable changes to the Defence Act 1990, important adjustments to personal data protections under the Privacy Act 2020, and targeted revisions to land and criminal justice legislation.This episode serves as your guided tour through the Bill’s catalogue of amendments—what’s being inserted, updated, or replaced—and why these technical but essential changes matter for maintaining a coherent, modern, and effective statute book.
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.
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