Category: General

Regulators Slap Banks, MSBs and Card Club with AML Violation Penalties

Financial institutions face enormous pressures with respect to anti-money laundering compliance.  These burdens are about to grow with implementation of customer due diligence rules.  In 2017, federal and state regulators stepped up AML enforcement.  Here is a quick rundown of some of the enforcement actions: Citibank paid a $70 million penalty  to the Office of the Comptroller of the Currency (here) for violating its 2012...

Three Simple Steps to Improve Your Corporate Culture

Lauren Connell, Managing Associate at The Volkov Law Group, rejoins us and provides a posting on corporate culture.  Lauren can be reached at lconnell@volkovlaw.com. What exactly does “corporate culture” mean?  Compliance professionals often talk about how important “tone from the top” or the “mood in the middle” is, but what does that really mean? Improving corporate culture has been directly tied to higher profits and...

Time to Test and Audit Your Compliance Program

We all enjoy citing government sources for guidance on an effective ethics and compliance program.  Whether it is the United States Sentencing Guidelines, the Justice Department’s and SEC’s FCPA Guidance, Health and Human Services – Office of Inspector General, or the many other sources for guidance, companies have to test and audit their compliance programs to ensure that the program reflects the company’s changing constellation...

Five Major Compliance Predictions for 2018

When you look back on the rise of the ethics and compliance profession, you cannot ignore the history of accomplishments.  It is easy to minimize these accomplishments as a reaction to the government’s aggressive FCPA enforcement program. Companies are starting to embrace ethics and compliance as a positive force to build sustainable financial growth – which is the true calling of a robust ethics and...

Justice Department Closes Out 2017 with 2 FCPA Actions: Keppel Offshore and Marine and Embraer Individual

The Department of Justice finished 2017 with two significant FCPA enforcement actions, and fittingly, one was a corporate settlement and another was an individual criminal guilty plea.  The Justice Department’s final FCPA enforcement actions for 2017 included an interesting settlement with Keppel Offshore and Marine Ltd. (KOM), a Singapore based, global shipyard and repair company, and a criminal guilty plea from a sales executive involved...

2018 FCPA Predictions (Part II of II)

I always take a deep breath when starting this posting – not that I am the kiss of death, but sometimes my predictions come true and most times they do not.  But with that caveat, I am brave enough to venture into 2018 and offer some predictions. First, and this may not be so surprising, individual FCPA criminal prosecutions will continue to increase.  In fact,...

2017 FCPA Year in Review (Part I of II)

With the close of 2017, FCPA enforcement continues as a major priority for the US Department of Justice.  Notwithstanding fears and concerns that the new administration would turn its back on FCPA enforcement, the Justice Department’s work continues unabated and unhindered.  All the doomsayers have to admit that no big changes have occurred in the Justice Department’s commitment to battle global corruption. The Numbers Looking...

Happy Holidays from The Volkov Law Group

Happy Holidays to everyone!!  The Volkov Law Group wishes you and your loved ones a happy holiday season. Corruption, Crime & Compliance will return in the New Year — 2018!! Thank you to our clients, our subscribers and followers.  All the best.