Category: General

SEC Charges Ex-Goldman Investment Banker for FCPA Bribes in Ghana Power Project

Last week, the Securities and Exchange Commission (“SEC”) filed charges against Asante Berko, a former Goldman Sachs executive with bribery of foreign government officials in Ghana.  Goldman Sachs discovered and stopped the scheme and then reported it to the government.  Goldman Sachs was not charged with the conduct and cooperated with the investigation. The SEC’s complaint charged Berko with assisting a client, a Turkish energy...

The CARES Act and DOJ Prosecution of Fraud

When Congress enacts massive financial relief legislation, one inevitable result is fraud, waste and abuse.  Going back to the financial crisis in 2008, DOJ had a trove of criminal fraud and civil fraud cases under the False Claims Act. With the passage of the CARES Act, you can count on DOJ ramping up criminal and civil fraud prosecutions, especially under the False Claims Act.  The...

Why a Duck: Tom Fox and Michael Volkov Discuss COVID-19 and Compliance

Tom Fox and I recently got together for a five-part series on COVID-19 and compliance issues. Here are the episodes and links: Part 1: Business Ethics Matter Even More Now — HERE Part 2: Board of Directors and Crisis Management — HERE Part 3: Why Compliance Never Sleeps — HERE Part 4: The Role of the CCO — HERE Part 5: Leadership and Final Thoughts...

BVD Webinar –COVID-19 and compliance: is lockdown accelerating automation in onboarding and AML?

Webinar 10 am EST/3 pm BST April 29, 2020 Sign Up HERE As the world fights COVID-19 and compliance officers grapple with virtual working at this time of heightened risk, are they increasingly seeking digital and automated processes to succeed? This webinar considers why the current climate has heightened awareness of the advantages of digital and automated compliance practice. Join this webinar to: hear how implementing...

Are Compliance Officers “Essential”?

Jessica Sanderson, Of Counsel, The Volkov Law Group, rejoins us for a posting on the importance of compliance during the COVID-19 pandemic.  Jessica can be reached at jsanderson@volkovlaw.com. In these challenging times, when governments around the world are asking all “non-essential” workers to stay home, and companies are struggling with business interruptions and difficult decisions regarding pay-cuts, layoffs and furloughs, we’ve been thinking a lot...

COVID-19 and Force Majure Contractual Provisions

It turns out law school was very helpful to practicing law – every first year law student is required to take a contract law class.  Now, lawyers are able to apply what they learned in the most unlikely of circumstances – the Covid-19 pandemic. Companies suffering from the shelter in place and business disruptions have to identify and assess liability under contracts with vendors, suppliers...

The Fundamental Foundation – Board Oversight of Corporate Ethics and Compliance Programs

Jonathan Marks, Partner, Baker Tilly, joins us for a posting on the importance of corporate board oversight of ethics and compliance programs.  Jonathan’s profile is here and his email contact is jonathan.marks@bakertilly.com. Under the U.S. Federal Sentencing Guidelines, in order to receive credit for having an effective compliance program, and thereby reduce the fines imposed on the organization, a Board of Directors must be “knowledgeable...

Risk Lessons from the Pandemic Warfront

Donna Boehme, Principal at Compliance Strategist, joins us for a blog posting on risk and leadership lessons from the pandemic. Donna’s profile is here and she can be reached at dboehme@compliancestrategists.com. I look forward to all the books to be written about the crisis we are living through, especially with all the many high-profile lessons in #EthicalLeadership, #Trust and #CrisisManagement that are emerging daily, but...

Videoconferencing and Export Controls

Janet Longo, Regulatory Compliance Analyst at The Volkov Law Group, joins us for a posting on videoconferencing and compliance export controls. Janet can be reached at jlongo@volkovlaw.com. As the Covid-19 virus is proliferating, so is the practice of conducting business through videoconferencing from home. While many commentators have discussed the serious data privacy and security problems associated with video conferencing, we’ve been thinking about the...

COVID-19: DOJ’s Aggressive Prosecution of Fraud and Pandemic-Related Crimes

The Justice Department and the FBI have acted to focus on fraudsters who are preying on the public panic in response to the pandemic.  The Justice Department has alerted US Attorneys’ Offices, and federal, state and local law enforcement of many of the common fraud schemes.  DOJ already has prosecuted individuals and businesses selling fake cures for COVID-19 online and other forms of fraud.  In...