Corruption, Crime & Compliance

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2 Dec, 2019

Webinar: Third-Party Risk Management — Practical Solutions to Due Diligence, Monitoring and Testing

Wednesday, December 18, 2019 12 NOON EST Sign Up Here As more companies implement automated solutions to manage their third-parties, compliance officers face a growing list of new challenges to managing third-party risk. The Justice Department and the Department of Treasury (OFAC) have elevated the importance of managing anti-corruption and sanctions risks by issuing compliance program guidance. As part of this new set of expectations,...

General

2 Dec, 2019

Apple Pays $467K to OFAC for Sanctions Violations

Even the mighty can fall – Apple agreed to pay OFAC $467k for violations of the Foreign Narcotics Kingpin Sanctions regulations. In 2008, Apple entered into an applications development agreement with SIS, a Slovenian company. SIS and its director and majority owner, Savo Stjepanovic, were designated under the Foreign Narcotics Kingpin Designation Act and added to the Specially Designated Nationals List (“SDN List”). Apple’s screening...

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.

General

27 Nov, 2019

Happy Thanksgiving!

Thanksgiving is a moment to celebrate gratitude. For the Volkov Law Group, we are grateful for our clients, friends and colleagues. We want to say a big “thank you” to all of our clients for trusting us with your important legal matters; to all of our readers who help make our blog a success; and to all of our colleagues who refer clients, engage in webcasts and presentations with us, and generally...

General

27 Nov, 2019

Volkov Law in the News: Representation of Lt. Col. Alexander Vindman in House Impeachment Inquiry

The Volkov Law Group — Michael Volkov, Matt Stankiewicz, Jessica Sanderson and Stephen Cheng — was honored to represent Lt. Col. Alexander Vindman in the House Impeachment Inquiry. Lt. Col. Vindman testified before the House Intelligence Committee on Tuesday, November 19. A video of the testimony is available here. A video of highlights is here. Stephen Colbert’s review is here. A copy of Lt. Col....

General

27 Nov, 2019

DOJ Notches Another Trial Victory — President of Transport Logistics Convicted of FCPA and Wire Fraud Charges

The Justice Department won another FCPA trial. After a three-week trial, Mark Lambert of Mount Airy, Maryland, was found guilty of four counts of violating the FCPA, two counts of wire fraud and one count of conspiracy to violate the FCPA and wire fraud. Lambert is scheduled to be sentenced on March 9, 2020. In 2018, Transport Logistics International, a Maryland company, entered into a...

General

27 Nov, 2019

New BVD White Paper — What you need to know for sanctions compliance

Bureau van Dijk, a Moodys Analytics Company, recently released a new white paper, What you need to know about sanctions compliance. You can download the white paper here. I was pleased to contribute to the white paper and hope you find it helpful.

General

26 Nov, 2019

Review of Samsung’s Bribery Scheme in Brazil (Part II of II)

Samsung’s recent FCPA settlement with the Justice Department capped yet another example of a company involved in bribing Petrobas in Brazil for valuable contracts. The scope of the bribery scheme was focused on a contingent deal involving Samsung’s desire to build a drillship for Chartering Company in Houston, Texas. Beginning in 2007 and continuing until 2013, Samsung conspired with others to violate the FCPA by...

General

25 Nov, 2019

Samsung Agrees to Pay $75 Million to Resolve FCPA Violations (Part I of II)

Samsung Heavy Industries agreed with the Justice Department to pay $75 million to settle FCPA charges. Under a three-year deferred prosecution agreement (DPA), Samsung agreed to filing of a criminal information in the Eastern District of Virginia charging the company with FCPA conspiracy. DPA Copy Here. Over a six-year period, Samsung carried out a bribery scheme to pay millions of dollars to Petrobas in Brazil...

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.