DOJ Updates Evaluation of Corporate Compliance Programs

Corruption Crime & Compliance

How prepared is your company to handle the evolving risks of artificial intelligence and other emerging technologies in its compliance program? In this episode of Corruption, Crime and Compliance, Michael Volkov delves into the Department of Justice's 2024 updates to its evaluation of corporate compliance programs. As the DOJ continues to set global standards, Michael discusses key updates related to risk management, especially around AI and other technologies. He also covers important shifts in training, whistleblower protections, third-party management, and data analytics, offering a comprehensive overview of what businesses need to consider for effective compliance.

You’ll hear him discuss:

• The DOJ raises the bar for corporate compliance, including technology risk management through their updated Compliance Guidance (2024).
• Companies must evaluate AI in both business and compliance contexts, ensuring controls for trustworthiness and legal alignment.
• Firms need to incorporate lessons from other companies and adapt policies and procedures to reflect emerging tech.
• Employee training must now be interactive, tailored, and measured for effectiveness.
• With their focus on whistleblower protection, the DOJ emphasizes tracking employee comfort in reporting issues and ensuring protection from retaliation.
• Companies are encouraged to continuously monitor third-party relationships beyond the onboarding phase.
• Stronger processes are needed for compliance audits and integration after mergers.
• DOJ pushes for the use of data analytics tools in compliance and better coordination between HR and compliance teams.

Resources:

Michael Volkov on LinkedIn | Twitter

The Volkov Law Group

DOJ Evaluation of Corporate Compliance Programs