Corruption, Crime & Compliance

Featured Articles:

12 Feb, 2020

The “Old” Board Governance Model Needs to Change

Corporate boards are under increasing attack by investors, shareholders and the public. In the aftermath of corporate legal train wrecks, such as the Wells Fargo, Volkswagen Emissions, General Motors, J.P. Morgan 1MDB Malaysia, and increased demand for sustainability, ESG and other shareholder public policy objectives, corporate board members have a significant target on their respective backs. Corporate governance is at a critical juncture. The old-line,...

General

12 Feb, 2020

NAVEX Global Webinar: Third-Party Risk Management & Effective Controls

February 18, 2020 1 PM EST/10 AM PST Sign Up HERE A comprehensive third party risk management program integrates with ethics and compliance activities across the enterprise to provide an accurate and actionable view of risk exposure. Implementing a holistic approach to due diligence extends beyond third party screening and monitoring. Effective risk management programs integrate with risk profiles across the organization, breaking down silos...

General

11 Feb, 2020

Why a Duck – Episode 10, A Night at the Opera, Part 2 and 2019 FCPA Enforcement Year in Review

In this episode Mike Volkov and Tom Fox — the second episode — discuss the movie A Night at the Opera and how it informs the 2019 in Compliance, FCPA enforcement actions and Compliance into 2020 and beyond. The Episode is available HERE.

General

10 Feb, 2020

Keeping Your Eye on the Risk Ball

Compliance officers face almost an infinite number of risks – not to be trite, but CCOs can drive themselves crazy identifying every plausible legal and compliance risk a company faces. I am exaggerating a little bit to make a point. Perhaps the most overused phrase in compliance is – companies should not implement a one-size-fits-all compliance program. Add this to the long list of profound...

Podcasts

9 Feb, 2020

Episode 126 — The Airbus $4 Billion Settlement for Bribery and ITAR Violations

In a blockbuster case, the Justice Department announced a global settlement with Airbus SE, a manufacturer of civilian and military aircraft, under which Airbus agreed to pay over $4 billion (yes, with a “B”) to resolve charges with the United States, France, and the United Kingdom for its role in a bribery scheme, and to resolve Airbus’ violation of the International Trade in Arms Regulations...

General

6 Feb, 2020

Airbus Systemic Bribery and Export Violations: Understanding How a Company’s Compliance Program and Culture Failed (Part IV of IV)

When reviewing a major enforcement case, I always ask two basic questions: What was the role of Board and senior management in the failure, and how did they fail to exercise proper oversight and ensure compliance? What was the company’s culture and what steps did the Board and senior management take to implement and monitor an effective ethical culture? After reading the Airbus’ factual proffer,...

General

5 Feb, 2020

Airbus ITAR Settlement: Review of Airbus ITAR Violations (Part III of IV)

The Justice Department has brought only a few enforcement actions that focus on FCPA and export control violations. Last year, Quad Graphics earned a declination for FCPA and OFAC violations. In 2013, Weatherford settled FCPA and export control violations for $252.6 million. In a major case in 2011, BAE Systems paid $400 million for making a false statement arising for underlying conduct of bribery and...

General

4 Feb, 2020

Airbus FCPA Settlement: Review of Airbus Bribery Scheme (Part II of IV)

Almost every FCPA enforcement action contains important lessons learned in unraveling a bribery scheme. Airbus has three broad divisions: (1) Commercial Division; (2) Defense & Space Division; and (3) Helicopters Division. The bribery scheme involved China, three Chinese government entities (GE-1, GE-2, and GE-3), and three consultants: Consultant 1, an agent who received payments from Airbus during 2013 to 2015 that were intended for bribes...

General

3 Feb, 2020

Airbus Agrees to Pay $4 Billion in Global Settlement of Foreign Bribery and ITAR Violations (Part I of IV)

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...