Regulatory body FinCEN (Financial Crimes Enforcement Network) recently published guidelines on how companies can better develop a culture of compliance, which is a common theme of director Jennifer Shasky Calvery. She has made a number of public comments regarding company compliance culture, specifically regarding BSA/AML (Bank Secrecy Act/Anti-Money Laundering) compliance. Shasky Calvery says that most of the issues she’s seen regarding compliance difficulties could have been fixed by promoting a better understanding of compliance within the company. Culture, after all, trumps everything.
Shasky Calvery spoke at length on this theme in an August 12 talk.