Author: Michael Volkov

The Cost of Compliance versus the Cost of Non-Compliance

The Cost of Compliance versus the Cost of Non-Compliance

Global companies face increasing corruption risks — more countries are passing anti-corruption laws and enforcement is on the rise.  With the need for more sophisticated and rigorous anti-corruption compliance programs, corporate leaders face a very difficult question — how much will it cost to comply and how much will it cost if we do not comply? Well, of course, one significant and unknown variable in this calculus is...

The Cost of Compliance versus the Cost of Non-Compliance

The Cost of Compliance versus the Cost of Non-Compliance

Global companies face increasing corruption risks — more countries are passing anti-corruption laws and enforcement is on the rise.  With the need for more sophisticated and rigorous anti-corruption compliance programs, corporate leaders face a very difficult question — how much will it cost to comply and how much will it cost if we do not comply? Well, of course, one significant and unknown variable in this calculus is...

Another Significant Risk — Criminal Antitrust Enforcement

Another Significant Risk — Criminal Antitrust Enforcement

Under the radar screen of FCPA, UK Bribery Act and other aggressive enforcement actions, the Antitrust Division of the U.S. Department of Justice is continuing its steady tradition of aggressive criminal enforcement. Week after week, cartel activity is investigated, prosecuted and often settled. Recent statistics from the Antitrust Division confirm its aggressive approach: since 2007, the Antitrust Division have averaged more than 135 pending grand...

Happy Tax Day: Foreign Bank Accounts and Continuing Enforcement Efforts

Happy Tax Day: Foreign Bank Accounts and Continuing Enforcement Efforts

In honor of our tax day, it is worthwhile to review the government’s continuing efforts against foreign bank account holders.  The Justice Department recently filed a lawsuit seeking the names of Americans believed to be hiding funds in bank accounts at HSBC in India. The lawsuit seeks court authorization  to serve what is known as a “John Doe” summons on HSBC’s main U.S. affiliate, HSBC...

Watch Out Justice Department: Lessons Learned from the Past

Watch Out Justice Department: Lessons Learned from the Past

The Department of Justice is proud of its record on FCPA enforcement. They take credit whenever and wherever they can. They trumpet every settlement. They proudly proclaim that over half of last year’s criminal fines were collected for FCPA violations. They are entitled to claim success. It is hard to argue against prosecutions of private companies and individuals who engage in foreign bribery. Such conduct...

Watch Out Justice Department: Lessons Learned from the Past

Watch Out Justice Department: Lessons Learned from the Past

The Department of Justice is proud of its record on FCPA enforcement. They take credit whenever and wherever they can. They trumpet every settlement. They proudly proclaim that over half of last year’s criminal fines were collected for FCPA violations. They are entitled to claim success. It is hard to argue against prosecutions of private companies and individuals who engage in foreign bribery. Such conduct...

Watch Out Justice Department: Lessons Learned from the Past

Watch Out Justice Department: Lessons Learned from the Past

The Department of Justice is proud of its record on FCPA enforcement. They take credit whenever and wherever they can. They trumpet every settlement. They proudly proclaim that over half of last year’s criminal fines were collected for FCPA violations. They are entitled to claim success. It is hard to argue against prosecutions of private companies and individuals who engage in foreign bribery. Such conduct...

Watch Out Justice Department: Lessons Learned from the Past

Watch Out Justice Department: Lessons Learned from the Past

The Department of Justice is proud of its record on FCPA enforcement. They take credit whenever and wherever they can. They trumpet every settlement. They proudly proclaim that over half of last year’s criminal fines were collected for FCPA violations. They are entitled to claim success. It is hard to argue against prosecutions of private companies and individuals who engage in foreign bribery. Such conduct...

Taking a Risk: Anti-Corruption Compliance in the Merger and Acquisition World

Taking a Risk: Anti-Corruption Compliance in the Merger and Acquisition World

As the economy improves and merger activity increases, it is important to remember the risks of FCPA liability when acquiring a company or entering into a joint venture.  Simply put, you don’t want to acquire an FCPA violation.  Companies will sometimes rush to close a deal without conducting any due diligence — that is a recipe for disaster.  On the other hand, companies alert to...

Taking a Risk: Anti-Corruption Compliance in the Merger and Acquisition World

Taking a Risk: Anti-Corruption Compliance in the Merger and Acquisition World

As the economy improves and merger activity increases, it is important to remember the risks of FCPA liability when acquiring a company or entering into a joint venture.  Simply put, you don’t want to acquire an FCPA violation.  Companies will sometimes rush to close a deal without conducting any due diligence — that is a recipe for disaster.  On the other hand, companies alert to...