Ethicast

Hosted by Ethicast

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100

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Jun 2026

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About the show

Join host Bill Coffin as he interviews the top thought leaders in the world of business integrity as they share the best practices, innovations, and insights that showcase something every truly successful organization knows: strong ethics is good business.

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June 15, 202618 min

How FedEx Builds Integrity Across a Global Compliance Program

For a global organization with more than 500,000 team members, ethics and compliance cannot rely on policies alone. It takes leadership, structure, local connection, practical testing, and a culture of continuous improvement. In this episode of Ethicast, host Bill Coffin speaks with Peter Blumberg, Vice President and Chief Compliance Officer at FedEx, about how FedEx continues to strengthen its corporate integrity and compliance program during a period of major business transformation. Peter discusses the company’s One FedEx transformation, the value of maintaining regional compliance connection within a centralized structure, the importance of cyber incident exercises, and how FedEx is expanding its integrity ambassador program while exploring responsible uses of AI and automation. Key takeaways: How FedEx maintains ethics and compliance excellence during business transformation Why centralized compliance programs still need strong regional connection How cyber incident simulations test decision-making, governance, and disclosure readiness Why integrity ambassadors can extend compliance presence across global operations How AI and automation can improve the way employees engage with compliance teams • Why third-party evaluation helps prove program maturity Why mature programs should aim for progress, benchmarking, and continuous improvement For the latest thought leadership in ethics and compliance, including free videos, articles, research, and more, visit the Ethisphere Resource Center: https://www.ethisphere.com/resources Subscribe to our biweekly newsletter, Ethisphere Insights: https://ethisphere.com/newsletter/ Chapters (00:01:59) - Maintaining compliance excellence during transformation(00:04:38) - Why cyber ransom exercises matter for ethics and compliance programs(00:06:49) - What FedEx is working on next: ambassadors, AI, and automation(00:11:33) - Why third-party compliance verification matters(00:13:56) - Advice for mature programs trying to reach the next level(00:16:42) - Resources and closing

June 8, 202622 min

What Compliance Teams Miss About Third-Party Risk

Someone set fire to a Kimberly-Clark distribution warehouse in California, caused $600 million in damage, and livestreamed the whole thing. The part that got less attention: he didn't work for Kimberly-Clark. He worked for a third-party logistics company they'd hired. Kimberly-Clark had a supplier code of conduct. They had compliance standards. They'd commissioned third-party audits. And it still happened. That's the reality of third-party risk management — you can build a solid program and still get blindsided by something you couldn't have predicted. But that doesn't mean programs aren't worth building. It means they have to be built well, and most aren't. In this episode, host Bill Coffin sits down with Emily Miner, Director on the Data & Services team at Ethisphere, to talk about where ethics and compliance programs fall short on third-party risk — and what strong ones actually look like. Emily draws on her work evaluating E&C programs across industries and her deep involvement in Ethisphere's World's Most Ethical Companies assessment process. They cover: Why third-party risk management tends to be less mature than other E&C program elements — and what that gap looks like in practice How E&C should be involved across the full third-party lifecycle, from due diligence and onboarding through ongoing monitoring and offboarding Why 90% of FCPA enforcement cases over the past 15 years have involved a third-party intermediary What supplier codes of conduct typically miss — including a lack of specificity in key prohibitions, weak enforcement language, and treating the code as a checklist rather than a values statement What companies like JLL and Microsoft are doing right in their third-party codes Emily also discusses her article, "What Makes for a Good Third-Party Code of Conduct?" published in Ethisphere Magazine. Link below. Read Emily's article: https://ethisphere.com/magazine/what-makes-an-effective-third-party-code-of-conduct/ Learn how Ethisphere can help you measure and strengthen your ethics and compliance program: https://ethisphere.com/solutions Subscribe for new episodes every week on YouTube, Spotify, and Apple Podcasts. Follow Ethisphere on LinkedIn for more on ethics, compliance, and what it means to do business with integrity. Chapters (00:02:17) - The Kimberly-Clark warehouse fire and what it reveals about third-party risk(00:08:30) - What E&C teams are most commonly trying to manage through TPRM(00:13:57) - What third-party codes of conduct tend to miss or underemphasize(00:21:42) - Wrap-up and where to find Emily's article

June 1, 202620 min

How a Google Engineer Made $1M on Polymarket (And How the CFTC Caught Him) | Ethicast Reacts

A Google information security engineer with access to the company's internal search trend data allegedly used that data to place 23 Polymarket bets — and won 22 of them, netting nearly $1 million. His handle was AlphaRaccoon. The CFTC and DOJ aren't laughing. In this episode of Ethicast Reacts, host Bill Coffin and Ethisphere Chief Strategy Officer Erica Salmon-Byrne break down the charges — commodities fraud, wire fraud, and money laundering — and what the case reveals about a risk most ethics and compliance teams haven't fully mapped yet. This is the fourth prediction market episode of Ethicast Reacts so far, and if the headlines are any indicator, it won't be the last. Chapters (00:00:00) - Introduction and case overview(00:04:13) - How Polymarket users flagged Alpha Raccoon to the FBI(00:06:08) - What Google did right (and why the CFTC cited it)(00:09:22) - What companies should be monitoring right now(00:12:08) - The fraud triangle applied to prediction markets(00:14:46) - Who should own prediction market risk inside your organization(00:17:37) - How E&C teams can get out in front of this

May 18, 202614 min

Stop Hoarding Data: How AI Data Trading Improves Supply Chain Risk

Supply chain risk management is becoming more complex as companies move from linear supply chains to sprawling supply webs that include third, fourth, and fifth parties. At the same time, ethics and compliance teams are under pressure to perform deeper due diligence with limited resources. In this episode of Ethicast, host Bill Coffin speaks with Craig Moss, Executive Vice President of Measurement at Ethisphere, about how AI data trading can help organizations close critical information gaps, improve supplier risk visibility, and create more value from the data they already have. Craig explains why companies need to move beyond simply protecting or hoarding data, and instead think strategically about what data they can trade, what data they need, and how restricted-use legal frameworks can make those exchanges practical. He also shares a five-step pilot approach for data trading, including how to define the goal, assess data gaps, determine relative data value, prepare for negotiation, and govern the trade. The conversation also explores the human side of AI-enabled risk management, including why problem definition, internal influence, partner negotiation, and governance still depend heavily on human judgment. Key takeaways: What AI data trading means for supply chain risk management Why data trades can help companies fill specific supplier due diligence gaps How restricted-use licensing can support responsible data exchanges What a five-step data trading pilot can look likeWhy not all data has equal value How humans remain essential to making AI useful in ethics and compliance Chapters (00:02:06) - What is data trading?(00:03:27) - What legal framework does a data trade need?(00:05:07) - A five-step pilot program for data trading(00:11:15) - The human role in AI-enabled ethics and compliance(00:12:41) - Closing thoughts

May 11, 202617 min

Called Before Congress? How Companies Can Prepare for Congressional Investigations

What happens when a company becomes the target of a congressional investigation, and how can ethics, compliance, legal, and government affairs teams prepare before scrutiny arrives? In this episode of The Ethicast, host Bill Coffin speaks with Kimberly Hamm and Carlos Felipe Uriarte, partners at Morrison Foerster and co-chairs of the firm’s Congressional Investigations practice. Drawing on deep experience across Congress, the Department of Justice, the Securities and Exchange Commission, and high-stakes corporate investigations, Kim and Carlos explain what organizations should understand about congressional scrutiny, how investigations unfold, and why preparation across internal teams matters. The conversation explores what a congressional investigation really entails, whether companies should expect executive testimony, the emerging issues most likely to attract attention, and how congressional inquiries can intersect with other government investigations or enforcement actions. Kim and Carlos also discuss how ethics and compliance, legal, and government affairs teams can work together before a crisis hits, and whether there is such a thing as “winning” before Congress. Topics include: What a congressional investigation involves Why private sector companies are facing more congressional scrutiny Whether investigations begin with testimony or document requests High-risk areas including AI, supply chain, and data privacy How congressional investigations can overlap with DOJ, SEC, or other agency activity Why cross-functional preparation matters What companies should expect if called before Congress For more insights from Kim Hamm and Carlos Felipe Uriarte, visit their profile pages at mofo.com and Morrison Foerster’s Congressional Investigations page, including their Congressional Investigations Quarterly client alert. For additional free resources on ethics, compliance, and corporate integrity, visit the Ethisphere Resource Center at ethisphere.com/resources. Chapters (00:02:10) - What does a congressional investigation really entail?(00:04:28) - Do investigations start with executive testimony?(00:05:34) - Topics and trends that may trigger congressional scrutiny(00:08:21) - How congressional investigations intersect with other government investigations(00:10:10) - Breaking down silos between Ethics & Compliance, Legal, and Government Affairs(00:12:51) - What outcomes should companies realistically expect?

May 4, 2026Episode 26928 min

When Every Secret Becomes a Wager: Insider Risk in Prediction Markets

Prediction markets promise a sharper read on the future. But recent stories raise a darker question: what happens when traders are not predicting events, but exploiting confidential information or manipulating the inputs that settle the bet? In this episode, Erica and Bill examine alleged classified-information betting tied to a Venezuela military operation, suspected weather-sensor tampering in Paris, and a college football gambling scandal to unpack the ethics and compliance risks now surrounding prediction markets, from insider information and fraud to oversight, trust, and institutional integrity. For those who are not aware, prediction markets work like a hybrid between investment markets and prop betting. "Investors" buy shares in the yes-or-no or A-or-B outcome of a projected uncertainty: Will Finland or Greece win the 2026 Eurovision contest? Will the Fed change interest rates in June? Will traffic in the Strait of Hormuz return to normal by May 15? Will Tottenham Hotspur be relegated at the end of the 2025-2026 English Premier League? And so on. Prediction markets have been around for a while, but they have exploded in betting volume in recent years. And on a more troubling note, they increasingly appear to provide an avenue for the improper use of inside information as well as a vector for fraud, cheating, and other undesireable outcomes. NEWS LINKS - MADURO RAID U.S. soldier accused of betting on Maduro operation pleads not guilty https://www.nbcnews.com/news/us-news/us-soldier-accused-betting-maduro-operation-pleads-not-guilty-rcna342586 Special forces soldier who won $400,000 betting on Maduro's capture pleads not guilty https://abcnews.com/US/special-forces-soldier-won-400000-betting-maduros-capture/story?id=132442898 US soldier pleads not guilty to charges of gambling on Maduro ouster https://www.reuters.com/legal/government/us-soldier-accused-gambling-maduro-removal-due-court-2026-04-28/ U.S. Senators Now Prohibited From Trading on Prediction Markets https://www.wsj.com/politics/policy/senators-vote-to-ban-themselves-from-trading-on-prediction-markets-ae4535dd NEWS LINKS - CHARLES DE GAULLE AIRPORT Polymarket just paid out $21,398 on a $119 weather bet — after a Paris airport sensor spiked 6°C in seconds https://finance.yahoo.com/markets/options/articles/polymarket-just-paid-21-398-153000011.html France investigates suspected tampering with weather sensors after Polymarket bets https://www.cnn.com/2026/04/23/europe/france-weather-sensor-polymarket-bet-intl-latam French police probe suspected weather device tampering after odd Polymarket bet https://www.npr.org/2026/04/23/nx-s1-5797876/polymarket-paris-weather-bet The prediction-market gold rush is here — and the shenanigans are getting messy https://www.businessinsider.com/prediction-market-event-analysis-outlook-polymarket-insider-trading-market-manipulation-2026-4 Polymarket reportedly seeking CFTC approval to reopen ma... Chapters (00:04:30) - How the Maduro Raid shows that every organization has insider information risk(00:11:00) - How insider trading can become a fraud risk...and worse(00:18:20) - How the temptation of insider trading creates a sports integrity issue

May 1, 20268 min

BELA Asks: What Are Good Champion Program ROI Data Points?

Ethics and compliance champions programs can extend the reach of a centralized E&C team, but how do you prove they are working? In this BELA Asks episode of Ethicast, Ethisphere’s Erica Salmon Byrne explains how organizations can evaluate both the overall ROI of an ambassador or champions program and the performance of individual ambassadors. Erica discusses practical data points to track, including employee questions, policy confusion, participation in ambassador conversations, use of program materials, and employee awareness of local champions. She also explains why a strong champions program creates a valuable feedback loop between employees and the ethics and compliance team, helping organizations respond faster, improve communications, and strengthen risk mitigation.Learn more about BELA: www.ethisphere.com/bela

April 27, 202617 min

How E&C Leaders Can Turn AI From Hype Into Practice

Artificial intelligence is no longer a future-state issue for ethics and compliance teams. It is already reshaping how programs manage training, reporting, risk assessment, monitoring, measurement, and operational decision-making. In this episode of The Ethicast, host Bill Coffin speaks with Roxanne Petraeus, Co-Founder and CEO of Ethena, and Dianne Ramos, Head of Ethics at Guardian Life Insurance, about how ethics and compliance leaders can move AI from experimentation into practical, responsible use. Roxanne and Dianne recently led the “Prompt to Practice: A Hands-On Workshop for the AI-Curious CCO” breakout session at the 2026 Global Ethics Summit, and they bring a practical, field-tested perspective to one of the most urgent questions facing today’s chief ethics and compliance officers: how can E&C teams adopt AI quickly, responsibly, and in ways that actually improve program performance? This conversation covers how to build AI fluency, create safe space for experimentation, engage leadership and key stakeholders, measure ROI, and lead teams through the cultural change that AI adoption requires. In this episode, you’ll learn: Why ethics and compliance teams should begin experimenting with AI now, even if they are still early in their journey How to distinguish between AI tools that are ready for operational use and those better suited for learning and experimentation Why leadership support, legal, risk, privacy, security, and compliance alignment matter when introducing AI How to measure the impact of AI on cycle time, error rates, rework, costs, and program maturity Why AI ROI should include both time savings and new capabilities that were not previously possible How E&C leaders can bring teams along through change without creating fatigue, disengagement, or quiet resistance To learn more about Ethena’s AI-driven compliance tools, visit goethena.com. To learn more about Guardian Life, visit guardianlife.com. To learn more about Ethisphere’s research on AI in ethics and compliance, visit ethisphere.com and download AI in Ethics & Compliance: Risk to Manage, Tool to Leverage. Subscribe to The Ethicast on YouTube, Apple Podcasts, and Spotify for more conversations on ethics, compliance, corporate integrity, and the future of business leadership. Chapters (00:02:13) - How E&C teams can catch up on AI adoption(00:04:33) - What is ready for prime time versus what is still experimental(00:07:01) - How to operationalize AI in regulated or resistant organizations(00:09:18) - Why measurement matters for AI in ethics and compliance(00:12:23) - Lessons learned from real AI implementation(00:15:51) - Resources and closing

April 24, 20269 min

BELA Asks: How Do I Make the Case for Dedicated E&C Communications?

At Ethisphere, we believe there is no competition in compliance. That’s why we’re using this show as a platform to answer high-level questions about business integrity that have been posed to us by the members of the Business Ethics Leadership Alliance, or BELA. BELA is a global ethics & compliance community that provides exclusive access to helpful data, benchmarking, events, and other resources to advance your E&C program. It also provides a concierge service by which members can submit questions around best practices, and our internal experts will provide an answer, plus helpful resources with more information. Many of these questions are particular to a specific company’s needs. But many more of them speak to challenges or opportunities facing E&C professionals everywhere. So in this episode, we’re going to answer one such question as part of our ongoing mission to make the world a better place by advancing business integrity. Joining us once again to answer your questions is BELA Chair Erica Salmon Byrne. In this episode, Erica answers the following question: How can I build the business case for an embedded and dedicated communications specialist within our E&C department? To learn more about BELA, visit https://www.ethisphere.com/bela to request guest access to the Member Resource Hub and to speak with a BELA Engagement Director.

April 17, 2026Episode 2658 min

BELA Asks: When Should I Date My Case Volume Data?

Erica Salmon Byrne, Executive Chair of the Business Ethics Leadership Alliance, answers another question from the BELA Membership around how to date investigations case volume data. In particular, should case volume be dates when investigations are opened or closed? To learn more about joining the Business Ethics Leadership Alliance, visit https://www.ethisphere.com/bela to request guest access to the Member Resource Hub and to speak with a BELA Engagement Director.