Corruption, Crime & Compliance

Featured Articles:

General

4 Dec, 2024

OFAC Fines U.S. Person $1 Million for Multiple Violations of Sanctions Regime Against Iran

In one of the more notable enforcement actions of 2024, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) recently imposed a $1,104,408 civil penalty on a U.S. person for 75 separate violations of the Iranian Transactions and Sanctions Regulations (“ITSR”). The underlying violations, which occurred from 2019 to 2022, involved the purchase, renovation, and operation of a hotel on the Caspian...
General

3 Dec, 2024

American Life Insurance Company Settles with OFAC for $178,421 Related to Apparent Violations of Iranian Transactions and Sanctions Regulations

By: Daniela Melendez, Associate at The Volkov Law Group, and Alex Cotoia, Regulatory Compliance Manager. Daniela can be reached at [email protected] and Alex can be reached out at [email protected]. The U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) recently settled with American Life Insurance Company (“ALICO”), a Delaware-based subsidiary of MetLife, Inc., for $178,421, addressing apparent violations of the Iranian Transactions and Sanctions Regulations (“ITSR”)....
General

2 Dec, 2024

Antitrust Division AAG Outlines Need for More Aggressive Antitrust Enforcement in the Healthcare Industry

In an interesting political twist, the difference in approaches to antitrust enforcement between Democrat and Republican Administrations has been narrowing. It used to be that the difference in party control of the Antitrust Division and the Federal Trade Commission would have a significant impact on enforcement priorities. That gap is definitely changing and reflects growing agreement in the public in preventing anti-competitive conduct. Much of...
Podcasts

1 Dec, 2024

Episode 347 — LRN’s Code of Conduct Report

LRN consistently provides high-quality reports and important insights on ethics and compliance trends. Each year, LRN’s Program Effectiveness Report is anticipated as an important source of cutting-edge ethics and compliance initiatives. LRN’s Code of Conduct Report includes a number of important benchmarks for companies to use as a measure of their compliance programs. In its most recent report, LRN cites a number of important findings...
General

27 Nov, 2024

Happy Thanksgiving!

Happy Thanksgiving to our clients, friends, colleagues, and family!! We hope you have a wonderful and restful holiday. With peace and gratitude, The Volkov Law Group PC

4 Dec, 2024

OFAC Fines U.S. Person $1 Million for Multiple Violations of Sanctions Regime Against Iran

In one of the more notable enforcement actions of 2024, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) recently imposed a $1,104,408 civil penalty on a U.S. person for 75 separate violations of the Iranian Transactions and Sanctions Regulations (“ITSR”). The underlying violations, which occurred from 2019 to 2022, involved the purchase, renovation, and operation of a hotel on the Caspian...

General

3 Dec, 2024

American Life Insurance Company Settles with OFAC for $178,421 Related to Apparent Violations of Iranian Transactions and Sanctions Regulations

By: Daniela Melendez, Associate at The Volkov Law Group, and Alex Cotoia, Regulatory Compliance Manager. Daniela can be reached at [email protected] and Alex can be reached out at [email protected]. The U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) recently settled with American Life Insurance Company (“ALICO”), a Delaware-based subsidiary of MetLife, Inc., for $178,421, addressing apparent violations of the Iranian Transactions and Sanctions Regulations (“ITSR”)....

General

2 Dec, 2024

Antitrust Division AAG Outlines Need for More Aggressive Antitrust Enforcement in the Healthcare Industry

In an interesting political twist, the difference in approaches to antitrust enforcement between Democrat and Republican Administrations has been narrowing. It used to be that the difference in party control of the Antitrust Division and the Federal Trade Commission would have a significant impact on enforcement priorities. That gap is definitely changing and reflects growing agreement in the public in preventing anti-competitive conduct. Much of...

Podcasts

1 Dec, 2024

Episode 347 — LRN’s Code of Conduct Report

LRN consistently provides high-quality reports and important insights on ethics and compliance trends. Each year, LRN’s Program Effectiveness Report is anticipated as an important source of cutting-edge ethics and compliance initiatives. LRN’s Code of Conduct Report includes a number of important benchmarks for companies to use as a measure of their compliance programs. In its most recent report, LRN cites a number of important findings...

General

27 Nov, 2024

Happy Thanksgiving!

Happy Thanksgiving to our clients, friends, colleagues, and family!! We hope you have a wonderful and restful holiday. With peace and gratitude, The Volkov Law Group PC

General

26 Nov, 2024

The Continuing Importance of Conflict of Interest Compliance

We continue to hear about the impact of apparent or real conflicts of interest — whether in government, in business, or in other organizations. It is an issue of significant importance. Within an organization, a perceived or real conflict of interest can undermine the very integrity of the organization and a specific person’s ability to act in a manner consistent with the organization’s interests. Scandals...

General

25 Nov, 2024

Measuring Compliance Program Performance and Effectiveness

“Only when the tide goes out do you discover who’s been swimming naked.” — Warren Buffett You often hear chief compliance officers speak about benchmarking. CCOs often reveal their competitive streaks when they collect information about other companies’ compliance programs. It can easily come off as a little insecure. In fact, CCOs are seeking valuable information — trying to measure their company’s performance outside their...

Podcasts

24 Nov, 2024

Episode 346: Forecasting the 2nd Trump Administration Enforcement and Compliance Impact

As the dust settles on the U.S. Election, companies are quickly analyzing the implications for the economy, business environment, new enforcement priorities and compliance implications. When new Administrations come into power, change is inevitable. Given the change with President Trump’s return to the White House, and in light of several of his stated intentions, companies should prepare for this new environment. The Trump Administration’s priorities...

General

21 Nov, 2024

Lessons Learned from the Telefónica FCPA Settlement (Part III of III)

The Justice Department’s record of FCPA enforcement in 2024 has been disappointing. With all of the hoopla and pronouncements surrounding the global war against corruption, DOJ suggested that enforcement in 2023 and 2024 would be robust. Instead, 2024 was a year of fizzles, fits and starts, and ultimately a slow year of FCPA enforcement. The future under the Trump Administration will be interesting. Based on...

General

20 Nov, 2024

Telefónica’s Bribery Scheme — The Usual Suspects and Tools (Part II of III)

We should all admit something (among many things) — reading through factual statements of bribery offenses, the facts all start to meld together. Criminals are not as ingenuous or creative as they think, and the schemes they employ are fairly straightforward. Let’s start with one profound grasp of the obvious — To pay bribes, criminals have to “steal” money from the company, that is, they...

Featured Articles:

OFAC Fines U.S. Person $1 Million for Multiple Violations of Sanctions Regime Against Iran

American Life Insurance Company Settles with OFAC for $178,421 Related to Apparent Violations of Iranian Transactions and Sanctions Regulations

Antitrust Division AAG Outlines Need for More Aggressive Antitrust Enforcement in the Healthcare Industry

Episode 347 — LRN’s Code of Conduct Report

Happy Thanksgiving!

OFAC Fines U.S. Person $1 Million for Multiple Violations of Sanctions Regime Against Iran

American Life Insurance Company Settles with OFAC for $178,421 Related to Apparent Violations of Iranian Transactions and Sanctions Regulations

Antitrust Division AAG Outlines Need for More Aggressive Antitrust Enforcement in the Healthcare Industry

Episode 347 — LRN’s Code of Conduct Report

Happy Thanksgiving!

The Continuing Importance of Conflict of Interest Compliance

Measuring Compliance Program Performance and Effectiveness

Episode 346: Forecasting the 2nd Trump Administration Enforcement and Compliance Impact

Lessons Learned from the Telefónica FCPA Settlement (Part III of III)

Telefónica’s Bribery Scheme — The Usual Suspects and Tools (Part II of III)

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