Category: Podcasts

Episode 76 — Review of 2018 AML Enforcement and Compliance Trends

Global prosecutors and regulators continued to increase anti-money laundering enforcement and regulatory actions.  Global and US regulators have increasingly focused on beneficial ownership and transparency requirements.  In 2018, FinCEN’s Customer Due Diligence rule went into effect.   US prosecutors also brought several significant AML criminal prosecutions against large banks; the SEC has increased AML enforcement as part of reviews of internal controls.  Regulators brought enforcement actions...

Episode 75 — 2018 False Claims Act Review

The Justice Department reported its 2018 fraud statistics showing $2.8 billion in recoveries under the False Claims Act.  While this number is staggering, fiscal year 2018 recoveries were down from than $500 million from fiscal year 2017.  Nonetheless, companies in the healthcare, defense and financial industries continue to face significant False Claims Act risks. In this episode, Michael Volkov interviews Jessica Sanderson, Of Counsel, at...

Episode 74 — ITAR Compliance Review

Companies involved in the export and import of defense products and services face significant risks surrounding compliance with the International Traffic in Arms (ITAR) statute and regulations.  The US State Department’s Directorate of Defense Control (DDTC) tightly regulates the defense industry and aggressively enforces ITAR rules and regulations. In this episode, Michael Volkov interviews Colleen Hurson, Senior Counsel, at The Volkov Law Group, who specializes...

Episode 72 — 2018 Review of OFAC Sanctions Enforcement and Compliance Trends

The Treasury Department’s Office of Foreign Asset Control (“OFAC”) had a busy year — the first half of 2018 was dedicated to re-imposing the Iran Sanctions Program and updating the Russia Sanctions Program. In the second half of the year, OFAC resumed its pace for enforcement actions. In this episode, Michael Volkov reviews OFAC enforcement actions and sanctions regulations for 2018.

Episode 71 — 2019 Ethics and Compliance Predictions and Trends

In 2018, ethics and compliance professionals continued to innovate and push for compliance program enhancements. In response to growing demand, compliance industry vendors helped to implement new and innovative tools for use in compliance programs. In this episode, Michael Volkov reviews ethics and compliance trends and developments during 2018 and outlines predictions for the upcoming year.

Episode 70 — FCPA Year in Review and Predictions for 2019

The Justice Department and the Securities and Exchange Commission had another strong year in FCPA enforcement. The numbers for 2018 tell a compelling story. Corporations Individuals Declinations Fines/Penalties DOJ 5 26 4 $950 million SEC 14 4 NA $380 million Total 19 30 4 $1.33 billion In this episode, Michael Volkov reviews FCPA enforcement for 2018 and outlines interesting trends and developments.

Episode 69 — Update on DOJ Corporate Enforcement Policies

The Department of Justice (DOJ) has announced a number of modifications to its policies governing prosecution of corporations for criminal and civil violations of law.  In 2017, DOJ announced its FCPA Corporate Enforcement Policy.  Over the last year, DOJ expanded this policy to apply to non-FCPA corporate violations, as well as mergers and acquisitions.  In addition, DOJ recently announced the adoption of an Anti-Piling On...

Episode 68 — FCPA Guidance and Safe Harbors

The FCPA Guidance continues to inform compliance practitioners on compliance best practices. Issued in 2012, the FCPA Guidance provides important information concerning a number of compliance functions and risks.  The FCPA Guidance includes important discussions about legal intent, due diligence, successor liability and other issues, which can be used to establish important safe harbors for an effective ethics and compliance program. In this episode, Michael...

Episode 67 — Conducting Compliance Audits

Corporate compliance departments are rapidly implementing their own internal audit function — operating their own internal compliance monitoring and audit function.  No longer can compliance departments rely on internal audit to report on the compliance department’s operations.  Companies have to implement internal (or external) audit procedures. In this episode, Michael Volkov discusses how to conduct a compliance audit.