Category: Podcasts

17 Nov, 2024

Episode 345 — Raytheon Settles for $950 Million for Fraud, FCPA, ITAR and False Claims Act Violations

Raytheon Company (Raytheon) — a subsidiary of defense contractor, RTX (formerly known as Raytheon Technologies Corporation) — agreed to pay over $950 million to resolve the Justice Department’s investigations into: (i) a major government fraud scheme involving defective pricing on certain government contracts; (ii) violations of the Foreign Corrupt Practices Act (FCPA); and (iii) the Arms Export Control Act (AECA) and its implementing regulations, the International Traffic...

Podcasts

10 Nov, 2024

Episode 344 — SEC Settles FCPA Case with Moog, Inc. for $1.7 Million

The SEC notched another FCPA settlement, continuing its steady pursuit and resolution of FCPA cases. In the meantime, the Justice Department has been silent in the FCPA enforcement arena. In its latest settlement, Moog, Inc. (“Moog”), a New York-based global manufacturer of motion controls systems for aerospace, defense, industrial and medical markets, agreed to pay a civil penalty of $1.1 million and disgorge nearly $600,000,...

Podcasts

3 Nov, 2024

Episode 343 — TD Bank Agrees to Pay Over $3 Billion for Systemic Violations of Bank Secrecy Act and Money Laundering Violations

In yet another reminder of the scope of Justice Department enforcement powers, and an important demonstration of the risks of non-compliance, the Justice Department and relevant banking agencies announced a $3 billion settlement with TD Bank companies to resolve systemic and pervasive Bank Secrecy Act (“BSA”) and money laundering violations. In addition to the financial settlement, TD Bank US Holding Company (TDBUSH) (together with TDBNA,...

Podcasts

27 Oct, 2024

Episode 342 — How to Conduct an Internal Compliance Visit and Review

Corporate compliance staff often conduct internal site visits and reviews. Since the pandemic and the development of remote technology, compliance officers have reduced the number of site visits. In recent years, compliance staff arre slowly increasing the number of site visits and reviews. These site visits permit compliance staff to review important issues: (1) personnel interviews; (2) transaction testing and vendor reviews; (3) ethics and...

Podcasts

20 Oct, 2024

Episode 341 — DOJ Charges Visa with Monopolization and Exclusionary Conduct in the Debit Card Market

The Justice Department’s Antitrust Division has been aggressively pursuing civil enforcement actions. While criminal enforcement of antitrust laws has been depressed, DOJ has found success in pursuing civil and merger enforcement. DOJ recently won a significant victory against Google for its monopolization of the search market. DOJ has now turned its attention outside of technology markets by filing suit against Visa for its dominance of...

Podcasts

13 Oct, 2024

Episode 340 — DOJ Updates Evaluation of Corporate Compliance Programs

The Justice Department announced yet another version of its Evaluation of Corporate Compliance Programs. As everyone knows, the Justice Department’s guidance carries talismanic significance — it is an important document that provides important direction on the design and implementation of an effective compliance program. DOJ understands the importance of this document. In recognition of evolving technology and compliance program innovations, DOJ updated its guidance to...

Podcasts

6 Oct, 2024

Episode 339 — The Four Sanctions Cases that Everyone Should Know

The Justice Department has repeated on several occasions that it intends to aggressively prosecute corporations for sanctions and export controls violations. The “New FCPA” is how the Justice Department characterizes its plan. To execute the strategy, DOJ has assigned 25 new prosecutors. This is the most important fact — unleashing 25 new prosecutors with the goal of bringing criminal cases against corporations and individuals will...

Podcasts

29 Sep, 2024

Episode 338 — Deep Dive into Deere SEC FCPA Settlement

The SEC’s recent settlement with Deere & Company for $9.9 million for FCPA violations is another textbook example of bribery schemes, which revealed the absence of a culture of compliance, and the circumvention of basic entertainment, hospitality and travel expense controls. Deere’s bribery scheme involved its Thailand subsidiary, Wirtgen Thailand, and various improper payments to government officials, including cash, sham consulting fees, extravagant “factory visit”...

Podcasts

22 Sep, 2024

Episode 335 — Nicolas Garcia, GC at Orica, on Compliance Trends and Challenges in Latin America

Nicolas Garcia is the VP Legal and Regional & Compliance Manager LATAM at Orica, one of the world’s leading mining and infrastructure solutions providers. From the production and supply of explosives, blasting systems, specialty mining chemicals and geotechnical monitoring to our cutting-edge digital solutions and comprehensive range of services. With more than 10,000 employees, Orica has operations in more than 30 countries with offices in...

Podcasts

15 Sep, 2024

Episode 336 — Review of Recent DOJ Declinations

The Justice Department is encouraging companies to voluntarily disclose criminal violations — “Come in and confess” and DOJ offers promises of a declination. But even a declination comes with a requirement: the company has to pay disgorgement In the latest declination case, Boston Consulting Group (“BCG”) earned a declination for FCPA violations stemming from conduct in Angola. BCG, a management consulting firm, earned the declination...