Episodes

  • The Failure to Prevent Fraud Offense: Insights for US General Counsels with Mike DeBernardis

    The Failure to Prevent Fraud Offense: Insights for US General Counsels with Mike DeBernardis
    Aug 22 2025
    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. Kona AI sponsors this podcast. In this episode of Season 2, Tom Fox is joined by Mike DeBernardis, Partner at Hughes Hubbard & Reed. In this episode, Tom and Mike look at the specific offenses listed in the Failure to Prevent Fraud Offense and translate them into US-legalese. They discuss common misunderstandings among US lawyers, the broad jurisdictional scope, and specific fraud types under UK law, such as fraud by false representation, failure to disclose information, and abuse of position. They also emphasize the importance of risk assessments for US companies with UK operations to ensure compliance and avoid legal repercussions, and also touch on the potential geopolitical implications and the necessity of having robust policies and procedures to prevent fraud. Key highlights: Fraud by False Representation Fraud by Failing to Disclose Information Fraud by Abuse of Position and Obtaining Services Dishonestly Corporate Fraud: Participation, Accounting, and Trading Risk Mapping and Compliance Strategies Resources: Hughes, Hubbard & Reed Mike DeBernardis on LinkedIn New Considerations for Companies with U.K. Ties: Home Office Issues Guidance to Organisations on the Offence of Failure to Prevent Fraud konaAI, a Covasant company Click here for konaAI White Paper Rethinking Compliance: Practical Steps for Adapting to the UK’s New Fraud Legislation Connect with Tom Fox on LinkedIn
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    22 mins
  • James Tillen on the Importance of Cross-Functional Collaboration in Complying with the FTPF Offense

    James Tillen on the Importance of Cross-Functional Collaboration in Complying with the FTPF Offense
    Aug 15 2025
    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 James Tillen, a member at Miller & Chevalier. James emphasizes the critical need for cross-functional collaboration within organizations for compliance professionals. It explains that simply focusing on one’s compliance program is insufficient. Instead, engaging with various internal departments and possibly external experts is essential to effectively manage compliance risks, including those associated with the failure to prevent fraud. Key highlights: Why US multinationals need to pay attention Cross-Functional Collaboration Identifying Key Internal Collaborators Engaging Internal and External Experts Jurisdiction Resources: Miller & Chevalier James Tillen on LinkedIn New Considerations for Companies with U.K. Ties: Home Office Issues Guidance to Organisations on the Offence of Failure to Prevent Fraud konaAI, a Covasant company Click here for the konaAI White Paper Rethinking Compliance: Practical Steps for Adapting to the UK’s New Fraud Legislation. Connect with Tom Fox on LinkedIn
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    23 mins
  • Understanding the ECCTA and Its Impact with Jonathan Armstrong

    Understanding the ECCTA and Its Impact with Jonathan Armstrong
    Aug 8 2025
    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 Jonathan Armstrong. Tom and Jonathan explore the historical context of fraud laws in the UK, the specifics and implications of the new legislation, the role of the Serious Fraud Office under the new rules, and its impact on corporations, especially those with international operations. Jonathan also outlines necessary steps corporations need to take to comply with the Act and prevent fraud within their organizations, including the importance of thorough risk assessments, top-level commitment, and effective communication and training programs. Key highlights: Key Legal Points of the New Law Jurisdiction and Global Impact Fraud Risk Assessment and Prevention Technological and ESG Fraud Resources: Jonathan Armstrong on LinkedIn konaAI, a Covasant company Click here for konaAI White Paper Rethinking Compliance: Practical Steps for Adapting to the UK’s New Fraud Legislation Connect with Tom Fox on LinkedIn
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    34 mins
  • Understanding the ECCTA and Its Impact on Fraud Prevention with Vince Walden

    Understanding the ECCTA and Its Impact on Fraud Prevention with Vince Walden
    Aug 1 2025
    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 Resources: Vince Walden on LinkedIn kona AI, a Covasant company Click here for konaAI White Paper Rethinking Compliance: Practical Steps for Adapting to the UK’s New Fraud Legislation Connect with Tom Fox on LinkedIn
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    26 mins
  • Understanding the UK’s New Failure to Prevent Fraud Offense with Sam Tate

    Understanding the UK’s New Failure to Prevent Fraud Offense with Sam Tate
    Jul 25 2025
    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 Kona AI. In this first episode of Season 2, Tom is joined by Sam Tate, Global Head of Regulatory and Investigations at the international law firm Clyde & Co. Tate to discuss the significant changes brought about by the latest UK law on the Failure to Prevent Fraud offense, which was introduced as part of the Economic Crime and Corporate Transparency Act of 2023 and took effect on September 1, 2025. He also highlights the challenges of prosecuting large corporations for fraud. Tom and Sam examine the new compliance requirements under the law, their impact on multinational companies, and the extended jurisdiction that covers actions affecting the UK. Practical steps for companies to take in response to the new law are also discussed, emphasizing the need for a thorough risk assessment and robust compliance programs. ey highlights: Overview of the New Fraud Law Implications for US Companies Market Response and Compliance Challenges Prosecutors’ Perspective and Enforcement Corporate Response and Compliance Strategies Impact on International and Regulated Entities Resources: Clyde & Co Sam Tate at Clyde & Co ECCTA’s Failure to Prevent Fraud Offense—Is your Organisation ready? Check out KonaAI Click here for KonaAI White Paper Rethinking Compliance: Practical Steps for Adapting to the UK’s New Fraud Legislation. Connect with Tom Fox on LinkedIn
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    28 mins
  • The DOJ Mandate on Transforming Compliance Through Data Analytics and AI with Vince Walden

    The DOJ Mandate on Transforming Compliance Through Data Analytics and AI with Vince Walden
    Sep 27 2024
    Are you struggling to keep up with the ever-changing compliance programs in your business? Look no further than the award-winning Data Driven Compliance podcast, hosted by Tom Fox, is a podcast featuring an in-depth conversation around the uses of data and data analytics in compliance programs. Data Driven Compliance is back with another exciting episode. Today, Vince Walden, founder of KonaAI, the sponsor of this podcast, returns to talk about the recent speech by Nicole Argentieri and the release of the 2024 Update to the Evaluation of Corporate Compliance Programs (ECCP). Walden shares insights from the Nicole Argentieri's keynote and ECCP update, emphasizing the DOJ's focus on data access in compliance. We explore the importance of utilizing both compliance and business data for effective fraud and risk management. Walden underscores the necessity for compliance professionals to collaborate with internal audit and finance departments, advocating for a risk-based approach to data analytics and continuous controls monitoring. The discussion also delves into leveraging AI and machine learning to improve compliance efficacy and overall business operations, arguing for the proportional allocation of resources to match the company's sophistication level. Key Highlights · DOJ's Focus on Data Access · Understanding Compliance Data Analytics · Training Compliance Officers on Data · Implementing Continuous Controls Monitoring · Cost Savings and ROI in Compliance · Proportionate Resource Allocation · Documentation and Transparency Resources Vince Walden on LinkedIn KonaAI Tom Fox Connect with me on the following sites: Instagram Facebook YouTube Twitter LinkedIn
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    29 mins
  • Data Driven Risk Management and Fraud Prevention

    Data Driven Risk Management and Fraud Prevention
    Feb 27 2024
    Are you struggling to keep up with the ever-changing compliance programs in your business? Look no further than Tom Fox’s award-winning podcast, Data-Driven Compliance. This podcast features an in-depth conversation about the uses of data and data analytics in compliance programs. Data-Driven Compliance is back with another exciting episode. Today, I take a solo turn to explore how data-driven compliance has moved from cutting-edge compliance to part of a best practices compliance program to becoming table stakes to do business in a multi-national world. AI and data-driven compliance solutions are revolutionizing risk management and fraud prevention practices, offering advanced analytics, machine learning, and automation to enhance decision-making processes, improve efficiency, and proactively address compliance risks. These tools are essential for companies to navigate the complex regulatory landscape. Understanding the transformative power of data-driven approaches in compliance and risk management is critical for every compliance professional. User adoption is critical, for even the most advanced technology will not be effective if not embraced and utilized by compliance professionals. There is also a need to balance automation and human judgment to ensure the effectiveness of these tools in risk management. Key Highlights: Data-Driven Compliance Tools for Risk Management Optimizing Decision-Making with AI-Driven Compliance Tools Transformative Data-Driven Fraud Detection and Prevention Tom Fox Connect with me on the following sites: Instagram Facebook YouTube Twitter LinkedIn
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    12 mins
  • Data Driven Compliance: From Cutting Edge to Best Practices to Table Stakes

    Data Driven Compliance: From Cutting Edge to Best Practices to Table Stakes
    Feb 20 2024
    Are you struggling to keep up with the ever-changing compliance programs in your business? Look no further than Tom Fox’s award-winning podcast, Data-Driven Compliance. This podcast features an in-depth conversation about the uses of data and data analytics in compliance programs. Data-Driven Compliance is back with another exciting episode. Today, I take a solo turn to explore how data-driven compliance has moved from cutting-edge compliance to part of a best practices compliance program to becoming table stakes to do business in a multi-national world. Data-Driven Compliance Programs are revolutionizing companies’ identification of potential compliance issues, mitigating risks, and maintaining integrity. The Department of Justice has given these programs, which use data analytics and AI, the go-ahead because of their capacity to improve business efficiency and stop improper payments. The bottom line is that these programs have transitioned from being cutting-edge to being considered best practices. Active data monitoring and analysis, inter-departmental collaboration, and formal risk assessments are cornerstones of a robust compliance program. This is because of the power of data analytics and AI in compliance monitoring and the need for compliance professionals to adapt continuously to the evolving landscape of data-driven compliance. Implementing a data-driven compliance program avoids trouble and enhances business efficiency in today’s regulatory environment.  Tom Fox  Connect with me on the following sites: Instagram Facebook YouTube Twitter LinkedIn
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    13 mins