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The Compliance-Industrial Complex

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Compliance-Industrial Complex

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Abstract

We transition from the world of anti-policies into the realm of the compliance-industrial complex. We explore its relation to the security-industrial complex and military-industrial complex, and we flesh out the core argument of this book. Namely, that we are currently witness to the emergence of criminalized and securitized data-driven and intelligence-led compliance as a new hybrid mode of governance that instrumentalizes hollow notions of ethics and ethical compliance ‘cultures’—all legitimized by the global fight against corruption and transnational organized crime. We begin to delve into the world of RegTech (regulatory technologies) and take on the ways in which compliance enhances corporate sovereignty rather than setting limits to it and we ponder the transformation of social control under neoliberalism.

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Notes

  1. 1.

    https://www.prnewswire.com/news-releases/enterprise-governance-risk--compliance-market-size-worth-96-98-billion-by-2028--cagr-14-1--polaris-market-research-301432800.html (last accessed April 20, 2022).

  2. 2.

    https://www.grandviewresearch.com/press-release/global-enterprise-governance-risk-compliance-egrc-market (last accessed April 20, 2022).

  3. 3.

    https://www.imarcgroup.com/governance-risk-compliance-platform-market (last accessed April 20, 2022).

  4. 4.

    https://www.prnewswire.com/news-releases/regtech-market-size-worth--87-17-billion-globally-by-2028-at-23-92-cagr-verified-market-research-301497770.html (last accessed April 20, 2022).

  5. 5.

    https://www.diligent.com/ (last accessed July 29, 2022).

  6. 6.

    https://blog.volkovlaw.com/2022/07/episode-240-the-ccos-role-in-an-effective-compliance-program/ (last accessed July 29, 2022).

  7. 7.

    https://www.justice.gov/criminal-fraud/page/file/937501/download (last accessed May 4, 2022).

  8. 8.

    https://guidelines.ussc.gov/gl/%C2%A78B2.1 (last accessed March 15, 2022).

  9. 9.

    https://www.sec.gov/news/press/2008/2008-294.htm (last accessed August 10, 2022).

  10. 10.

    https://www.justice.gov/sites/default/files/criminal-fraud/legacy/2013/05/02/12-12-08siemensakt-info.pdf (last accessed August 10, 2022).

  11. 11.

    https://guidelines.ussc.gov/gl/%C2%A78B2.1 (last accessed March 15, 2022; emphasis mine).

  12. 12.

    https://www.justice.gov/criminal-fraud/page/file/937501/download (last accessed April 29, 2022).

  13. 13.

    https://member.regtechanalyst.com/corporate-governance-might-be-going-through-its-biggest-ever-revolution/ (last accessed March 1, 2022).

  14. 14.

    https://pinkerton.com/our-insights/blog/holistic-security-the-risk-wheel (last accessed August 2, 2022).

  15. 15.

    https://www.justice.gov/criminal-fraud/file/838416/download (last accessed August 7, 2022).

  16. 16.

    https://www.refinitiv.com/en/products/world-check-kyc-screening (last accessed May 5, 2022).

  17. 17.

    https://legal.thomsonreuters.com/en/products/clear-investigation-software (last accessed May 5, 2022).

  18. 18.

    https://static1.squarespace.com/static/5c1bfc7eee175995a4ceb638/t/611ab5b000e2ae1d9bea3544/1629142044750/2021-0816+%28%2353%29+cand+ORDER+by+Judge+Edward+M.+Chen+Granting+in+Part+and+Denying+in+Part+28+Defendants+Motion+to+Dismis.pdf (last accessed April 4, 2022).

  19. 19.

    https://legal.thomsonreuters.com/en/products/clear-investigation-software (last accessed April 4, 2022).

  20. 20.

    https://www.refinitiv.com/en/risk-and-compliance# (last accessed April 4, 2022).

  21. 21.

    https://www.palantir.com/assets/xrfr7uokpv1b/30qJLVSKsB5ZmfsvOydob6/a8e340705b1e71ef325d1839fb97ce6f/Foundry_AMLpdf.pdf (last accessed August 10, 2022).

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  1. Work Research Institute, Oslo Metropolitan University, Oslo, Norway

    Tereza Østbø Kuldova

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  1. Tereza Østbø Kuldova
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Kuldova, T.Ø. (2022). The Compliance-Industrial Complex. In: Compliance-Industrial Complex. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-031-19224-1_3

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  • DOI: https://doi.org/10.1007/978-3-031-19224-1_3

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