In this episode of Integrity Insights, we speak with Casey Michel, investigative journalist and Head of the Kleptocracy Program at the Human Rights Foundation in New York City. Casey is the author of American Kleptocracy and Foreign Agents, two seminal books on the mechanisms of global illicit finance and foreign influence operations.

Our discussion focuses on the United States’ recent retreat from its longstanding leadership in global anti-corruption efforts. Casey explains how key legislative tools, such as the Corporate Transparency Act (CTA) and the Foreign Corrupt Practices Act (FCPA), are no longer being meaningfully enforced—despite being landmark steps in combating financial secrecy and foreign bribery just a few years ago.

We explore:

• Why the U.S. became the world’s biggest hub for illicit finance.
• How lobbying efforts and state-level interests undermined the CTA.
• The implications of the Department of Justice’s recent decision to narrow FCPA enforcement to matters of "U.S. strategic interest".
• Concerns that enforcement tools are being politicised, potentially weaponised against foreign or domestic political opponents.
• How these rollbacks have severely damaged U.S. credibility and leadership in global anti-corruption efforts.

Casey also places this regression in historical context, suggesting we may be in a modern “Gilded Age” but offers hope by pointing to past cycles of reform following periods of entrenched corruption.

Finally, we ask: can anyone step into the void left by the U.S.? While no single actor currently matches the scope of American enforcement powers, Casey sees signs of renewed leadership from Europe—particularly in the UK, France, and Switzerland—and stresses the need for greater transnational coordination going forward.

Listen to this episode for a deep dive into the shifting landscape of anti-corruption enforcement and what it means for democracies around the world.

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In this episode, host Filip Brokes is joined by Pav Gill, former Head of Legal for the Asia Pacific region at Wirecard and current Founder & CEO of Confide Platform. Pav shares his extraordinary journey from a career at prominent international law firms to becoming a whistleblower who helped expose one of Europe’s biggest corporate scandals.

Pav discusses his entry into Wirecard, explaining the context in which he was headhunted for the role, unaware of the fraudulent activities occurring at the highest levels of the company. He provides insights into the internal workings of Wirecard’s Singapore office, his initial positive experiences, and the unexpected discoveries that led to his whistleblowing.

Listeners will hear the rationale behind Pav’s decision to remain anonymous during the initial stages of whistleblowing, his collaboration with investigative journalists at the Financial Times, and the strategic considerations behind the disclosure of his identity in the media and the acclaimed Sky documentary.

Pav reflects on his post-Wirecard career trajectory, highlighting the challenges he faced in returning to the workforce and how his whistleblower status later became a unique asset. He provides thoughtful analysis on the role of short-sellers in uncovering corporate misconduct, offering balanced perspectives on the ethical dimensions of their activities.

The conversation shifts to Pav’s entrepreneurial journey with the launch of Confide Platform—a compliance-tech startup focused on whistleblowing and compliance reporting. Pav explains his motivation for creating a secure, trusted solution designed to empower organizations to identify and manage internal issues proactively, thereby preventing scandals similar to Wirecard.

The episode also delves into broader regulatory discussions, with Pav offering a comparative analysis of global whistleblowing frameworks. He evaluates the strengths and weaknesses of the EU Whistleblower Directive and explores regulatory trends in Asia, Europe, and the US, including recent political influences on regulatory enforcement.

To conclude, Pav stresses the importance of compliance professionals staying apolitical and diligently focused on applying existing regulatory standards, irrespective of broader political dynamics.

Recommended Resources by Pav Gill:

• Sky Documentary: Wirecard: A Billion Euro Lie
• Book by Dan McCrum (FT Reporter): Money Men
• Financial Times Article: The long-form FT exposé detailing Pav’s whistleblower journey (September 2021).

About Pav Gill:
Pav Gill is a lawyer and compliance expert based in Singapore. Following his critical whistleblower role in exposing Wirecard, he founded Confide Platform, an end-to-end whistleblowing and compliance management tool designed to strengthen corporate integrity globally.

Integrity Insights is produced by Berlin Risk Advisors GmbH

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In this episode, host Filip Brokes sits down with Carsten Giersch, Senior Partner at Berlin Risk Advisors and Managing Partner at ALL AML, for a wide-ranging discussion on how geopolitical events affect global financial markets. Recorded live at the FIBE conference in Berlin, this conversation dives into topics such as current trade tensions, the psychological dimensions of policy decisions, and how both businesses and governments can respond to shifting geopolitical landscapes.

Key Topics & Takeaways

1. Carsten’s Background
   • Academic history in Political Science, with a focus on international relations and conflicts.
   • Move to consultancy 15 years ago, co-founding Berlin Risk Advisors and ALL AML.
   • Specialization in due diligence investigations, integrity checks, and external money-laundering compliance.
2. The Trump Era and Geopolitical Shifts
   • How President Trump’s approach changed the global risk climate.
   • The interplay of “hard” geopolitical risks with “soft” psychological factors in policy-making.
   • The concept of an “imperial presidency” and how it erodes traditional checks and balances.
3. Impact of Tariffs and Trade Policies
   • The legal loophole behind imposing tariffs through a declared “national emergency.”
   • Potential consequences of escalating trade wars on global markets.
   • Why perceptions of fairness and status matter more than purely rational economic logic.
4. European Responses and Strategies
   • The possibility of EU retaliation via tariffs and/or regulatory measures on services.
   • Alternative strategies for Europe: new free trade agreements, investment in AI, green tech, and collaborative defense.
   • The need for regulatory balance: building resilience (e.g., through AML regulations) without stifling innovation.
5. Cultural Factors in Entrepreneurship
   • Comparing U.S. risk culture to Europe’s more conservative regulatory environment.
   • Potential reforms in education and policy to foster entrepreneurial spirit within the EU.
6. Outlook for Globalization
   • Why the rise of nationalist sentiments doesn’t necessarily mean an end to globalization.
   • The importance of free trade partnerships, from Latin America to Asia, for Europe’s future.
   • Opportunities for the EU to play a leading role in an era of uncertainty.

Quotes

• “It’s both about hard facts on one hand and about psychology on the other.”
  Carsten on why Trump’s policies have sparked greater volatility than previous administrations.
• “Loss aversion and status-based motivations can drive political decisions more than raw economic logic.”
  Carsten highlighting the psychological underpinnings of trade wars.
• “This crisis is also an opportunity for the EU to define a more progressive, open-minded agenda.”
  Carsten discussing how Europe can capitalize on U.S. isolationism to strengthen its own competitiveness.

References & Further Reading

• Berlin Risk Advisors – https://berlinrisk.com/
• ALL AML – https://allaml.eu/
• International Emergency Economic Powers Act (1977) – The U.S. legislation Trump invoked to impose tariffs - https://www.congress.gov/crs-product/R45618

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