Welcome to Season 2 of the award-winning Data Driven Compliance. In this new season, we will look at the new Failure to Prevent Fraud offense. Join host Tom Fox as we explore this new law and how to comply with it through the lens of data driven compliance. This podcast is sponsored by konaAI. In this episode of Season 2, Tom Fox is joined by Vince Walden, CEO of konaAI.
In this episode, they take a deep dive into the details of the UK Economic Corporate Crime Transparency Act, specifically the ‘Failure See more +
Welcome to Season 2 of the award-winning Data Driven Compliance. In this new season, we will look at the new Failure to Prevent Fraud offense. Join host Tom Fox as we explore this new law and how to comply with it through the lens of data driven compliance. This podcast is sponsored by konaAI. In this episode of Season 2, Tom Fox is joined by Vince Walden, CEO of konaAI.
In this episode, they take a deep dive into the details of the UK Economic Corporate Crime Transparency Act, specifically the ‘Failure to Prevent Fraud’ offense. Walden, bringing the perspective of a fraud examiner and CPA, discusses the types of fraud covered under the new law and its broad scope, affecting not just UK companies but also US subsidiaries of UK companies. Walden emphasizes the importance of fraud prevention compliance programs and outlines how effective data analytics and risk assessments can help companies prevent fraud. He also explores the integration of advanced technologies like AI in building robust fraud detection mechanisms. The conversation highlights that effective compliance leads to better business processes and profitability.
Key highlights:
• Understanding Fraud Offenses Under the Act
• The Broad Scope of the Act
• Importance of Compliance Programs
• Data Analytics in Fraud Risk Management
• Future of Fraud Detection with AI See less -
