It is an initially daunting task — identify all of your third-party partners with whom your company conducts business. For large global companies, this is no easy issue. Some companies do not have readily available a list...more
While I have devoted the first two postings to outlining all the downside risks of third-party management and threats to overall organization resiliency and operations, it is important to consider the positive upside of...more
When you get on the mailing lists for legal and compliance products, seminars, conferences and general palabra, I usually become transfixed. Millions of marketing and promotion dollars are being spent in an attempt to...more
Prosecuting white collar crimes is a “mind game” in more ways than one. This is another in my long series of profound grasps of the obvious. -
As a former federal prosecutor, the difference between a crime and compliant...more
In the FCPA and white collar defense community, we have seen buckets and buckets of ink spilled on the coming wave of aggressive enforcement. Justice Department officials have made so many statements about the “new” approach...more
5/9/2022
/ Anti-Corruption ,
Bribery ,
Compliance ,
Corporate Counsel ,
Corporate Misconduct ,
Corruption ,
Department of Justice (DOJ) ,
Enforcement Actions ,
FCPA Guidance ,
Foreign Corrupt Practices Act (FCPA) ,
White Collar Crimes
The Justice Department ended its FCPA enforcement drought by announcing its first corporate settlement in 2022. In a parallel action, the SEC announced its settlement with Stericycle for $28 million for FCPA violations. The...more
Federal prosecutors know that their job – to represent the United States – is the highlight of their legal career. Speaking from experience, federal prosecutors are a privileged lot – they can announce in court they represent...more
The Office of Foreign Asset Control’s designation of an entity as a Specially Designated National (SDN) is the “kiss of death.” Such designation not only has a direct impact on an SDN’s ability to engage in business but has...more
The Antitrust Division’s Assistant Attorney General Jonathan Kanter promised a new era in antitrust enforcement. He won bi-partisan support from both Republicans and Democrats. Across the antitrust field, he promised...more
The Biden Administration’s Department of Justice has promised aggressive white collar enforcement. On the flip side, the DOJ has recognized the importance of effective ethics and compliance programs. In an interesting...more
The SEC announced its first FCPA enforcement action in 2022. South Korean telecommunications company, KT Corporation, agreed to pay $6.3 million to settle FCPA violations. As part of the settlement, KT Corp. agreed to pay...more
2/22/2022
/ Anti-Bribery ,
Anti-Corruption ,
Books & Records ,
Bribery ,
Corporate Misconduct ,
Corruption ,
Enforcement Actions ,
Failure to Comply ,
Foreign Corrupt Practices Act (FCPA) ,
Internal Controls ,
Regulatory Violations ,
Securities and Exchange Commission (SEC) ,
South Korea ,
Telecommunications ,
White Collar Crimes
Even with the absence of any major DOJ FCPA enforcement actions, DOJ issued an interesting FCPA Opinion Letter last week addressing application of the FCPA in circumstances where organizations face imminent serious bodily...more
2/18/2022
/ Anti-Bribery ,
Anti-Corruption ,
Bribery ,
Compliance ,
Corporate Misconduct ,
Corruption ,
Department of Justice (DOJ) ,
Detention ,
FCPA Guidance ,
Foreign Corrupt Practices Act (FCPA) ,
Foreign Governments ,
Legitimate Business Purpose ,
Opinion Letter ,
Regulatory Standards ,
Vessels ,
White Collar Crimes
Federal prosecutors enjoy flipping through the United States Criminal Code, 18 U.S.C. §§ 1 et seq., to pick out tools to charge defendants. Over the last ten years, DOJ’s reliance on criminal charges in FCPA cases has...more
2/18/2022
/ Anti-Corruption ,
Bribery ,
BSA/AML ,
Corruption ,
Criminal Code ,
Criminal Liability ,
Department of Justice (DOJ) ,
Federal Jurisdiction ,
Financial Transactions ,
Foreign Corrupt Practices Act (FCPA) ,
Money Laundering ,
Regulatory Agenda ,
White Collar Crimes
Facing the myriad third-party sanctions risks can be daunting. Many global organizations rely on a network of third-party intermediaries that pose a variety of risks. To mitigate those risks, companies have to implement...more
If there is one issue that is repeated over and over (and over), it is third-party risks. Over the last ten years, we have witnessed an explosion in anti-corruption enforcement around the world. And with this enforcement...more
The Treasury Department’s Office of Foreign Asset Control (“OFAC”) has been a steady performer in this challenging pandemic environment. Since the pandemic, OFAC has maintained a strong profile, while managing a difficult...more
This was a strange year. Not just because of the continuing pandemic and economic disruption. The Biden Administration took over after an unusual and delayed transition. The apparatus of government was slow to transition....more
The new United States Strategy on Countering Corruption includes several important statements of interest to legal and compliance professionals. ...more
12/16/2021
/ Anti-Corruption ,
Bribery ,
BSA/AML ,
Compliance ,
Corruption ,
Digital Assets ,
Enforcement Guidance ,
FinCEN ,
Foreign Corrupt Practices Act (FCPA) ,
Money Laundering ,
Real Estate Transactions ,
Suspicious Activity Reports (SARs) ,
White Collar Crimes
The Biden Administration’s new anti-corruption initiative is a significant commitment to the battle against global corruption. According to the Biden Administration, “[c]orruption is a cancer with the body of societies – a...more
The Biden Administration announced a new, comprehensive anti-corruption program, the United States Strategy on Countering Corruption. The new anti-corruption policy is the follow on to the earlier announcement elevating the...more
FCPA practitioners, In-house counsel and compliance officers, and yes, even the FCPA Paparazzi, have been patient enough. As the saying goes, talk is cheap. It is action that counts....more
Chief compliance officers play a key role in managing a company’s ethical culture. Most companies fail to pay proper attention to its culture because it is difficult to define, measure and monitor. Such an approach is...more
If you follow my blog, you know that I am passionate about the compliance profession. Chief compliance officers have unique talents, expertise and leadership qualities. CCOs are committed ethics warriors. No one else can...more
Third-party risk management is a favorite topic for compliance professionals. And for good reason. Third parties create significant risks. To state the obvious, companies have less control over third parties than...more
The SEC’s FCPA settlement with WPP for over $19.2 million provides a variety of bribery schemes in several high-risk venues. The schemes are instructive because they remind anti-corruption compliance professionals of the...more
9/28/2021
/ Anti-Corruption ,
Brazil ,
Bribery ,
China ,
Compliance ,
Corruption ,
Criminal Prosecution ,
Enforcement Actions ,
Foreign Corrupt Practices Act (FCPA) ,
India ,
Peru ,
Securities and Exchange Commission (SEC) ,
White Collar Crimes