Category: Podcasts

2 Feb, 2020

Episode 125 — Interview of Elizabeth Slim, Senior Consultant at the Volkov Law Group: AML and Financial Compliance Trends

Elizabeth Slim, Senior Consultant at the Volkov Law Group, discusses Anti-Money Laundering and Financial Compliance trends. Liz recently joined the Volkov Law Group and has extensive experience in the banking and financial compliance industry. She is major thought leader in anti-money laundering compliance and enforcement, and a leader at ACAMS. In this Episode, Michael Volkov discusses Liz’s career and her thoughts on AML and financial...

Podcasts

26 Jan, 2020

Episode 124 — False Claims Act 2019 Review

The Justice Department continues to aggressively pursue False Claims Act cases. In 2019, DOJ recovered over $3 billion from healthcare, defense and financial companies. The heath care sector — pharmaceutical, medical device, hospitals and healthcare providers — continues to be the primary focus of False Claims Act cases. Qui tam relators initiate a significant percentage of all False Claims Act cases. In this episode, Michael Volkov...

Podcasts

19 Jan, 2020

Episode 123 — 2019 OFAC Enforcement and Compliance Review

2019 was a big year for OFAC enforcement and compliance — OFAC collected $1.28 billion in fines and penalties in a total of 26 separate enforcement actions. OFAC also issued important compliance program guidance, mandating a number of important requirements for compliance programs. OFAC’s enforcement record for 2019 focused on supply chain sourcing; acquisition of foreign companies engaged in transactions with prohibited countries and customers;...

Podcasts

12 Jan, 2020

Episode 122 — 2020 Ethics and Compliance Predictions and Trends

Ethics and compliance had a big year — new compliance guidance was issued by the Justice Department’s Criminal and Antitrust Divisions and by the Department of Treasury’s Office of Foreign Asset Control. The compliance profession continues to innovate and new automated technologies are rapidly becoming available. In this Episode, Michael Volkov reviews ethics and compliance trends.

Podcasts

5 Jan, 2020

Episode 121: 2019 — FCPA Year in Review

The Justice Department and the SEC had a record year in FCPA enforcement — the largest amount of penalties against corporate defendants and the most individuals charged in one year. DOJ also adopted new guidance on corporate compliance programs. The Justice Department’s enforcement year included several major prosecutions, including Ericsson, Walmart, Fresenius Medical and Cognizant Technology. In this Episode, Michael Volkov reviews 2019 FCPA enforcement...

Podcasts

15 Dec, 2019

Episode 120 — Interview of NAVEX Global’s Chris Bailey and Stephen Gooding

Global companies face extraordinary risks through their reliance on third-party agents, distributors, consultants and vendors/suppliers. Federal prosecutors and regulators have had a record year in FCPA and sanctions enforcement. To mitigate these risks, global companies are quickly adopting automated platforms to manage their third-party risks. NAVEX Global is at the forefront of this effort through its RiskRate automated platform. Chris Bailey, Product Manager, NAVEX Global,...

Podcasts

8 Dec, 2019

Episode 119 — The Ericsson FCPA Settlement

The Sweden-based telecommunications company, Ericsson, agreed to a pay a total of $1 billion (yes, billion with a “B”) for FCPA violations. Ericsson entered into settlement agreements with DOJ and the SEC. Ericsson agreed to pay a criminal penalty of over $520 million and approximately $540 million to the SEC. An Ericsson subsidiary in Egypt entered a guilty plea to an FCPA conspiracy to violate the anti-bribery,...

Podcasts

1 Dec, 2019

Episode 118 — OFAC Enforcement Update and Lessons Learned

OFAC’s aggressive enforcement program continues. Recently, OFAC announced settlements with Apollo Aviation and Apple. Both of these cases underscore the importance of enhancing OFAC compliance programs. In this Episode, Michael Volkov reviews the two cases and the specific lessons learned.

Podcasts

24 Nov, 2019

Episode 117 — FCPA Update: Samsung pays $75 million to settle FCPA charges; Braskem’s former CEO indicted on FCPA charges; and Transport’s co-CEO is convicted on FCPA charges

The Justice Department has been very busy in FCPA enforcement matters — (1) Samsung Heavy Industries paid $75 million to settle FCPA violations; (2) Braskem’s former CEO was indicted on FCPA charges; and (3) after a three-week trial, Transport’s co-CEO was convicted of FCPA charges. In this episode, Michael Volkov catches up on recent FCPA enforcement actions.

Podcasts

10 Nov, 2019

Episode 116 — Alstom Executive Convicted of FCPA and Money Laundering Offenses

Lawrence Hoskins, a UK citizen and former Alstom executive, was convicted last Friday on 11 of 12 counts for his role in a bribery scheme involving Indonesian officials. Hoskins conviction took years to secure because of jurisdictional challenges and appeals. Hoskins was originally indicted in 2013. The jury deliberated for one day – a resounding victory for DOJ prosecutors. Hoskins’ defense team launched an unusual defense, claiming that...