Corruption, Crime & Compliance

Featured Articles:

5 Dec, 2017

Foreign Agents Registration Act Enforcement

One consequence of the ongoing Russia investigation against the current administration is increased focus and probable enforcement of the Foreign Agents Registration Act (FARA). For Washington insiders, FARA was a known requirement but strict compliance was never the rule. FARA’s purpose was aimed at encouraging disclosure of hidden relationships with foreign governments that are intended to influence US government officials. With the increased enforcement of...

Events

5 Dec, 2017

Webinar: How to Implement An Effective Sanctions Compliance Program

How to Implement an Effective Sanctions Compliance Program Tuesday, December 19, 2017 Sign Up Here The Department of Justice and the Department of Treasury’s Office of Foreign Asset Control (“OFAC”) have aggressively enforced comprehensive and complex sanctions statutes and regulations. Global companies have to design and implement an effective sanctions compliance program in order to avoid sanctions enforcement risks. Join Michael Volkov, CEO of The...

General

4 Dec, 2017

SBM Offshore Finally Reaches the Finish Line and Settles FCPA Case for $238 Million

In a follow-on prosecution and end to a twisted investigation and enforcement path, SBM Offshore agreed to settle an FCPA enforcement matter for $238 million (including a $500,000 criminal fine and $13.2 million forfeiture). Under the agreement, SBM offshore entered into a three-year deferred prosecution agreement (DPA, copy here), and a US subsidiary entered a guilty plea to one count of FCPA conspiracy. The Justice...

General

3 Dec, 2017

Five Key Takeaways from DOJ’s New FCPA Corporate Enforcement Policy

In a significant FCPA enforcement development, DOJ’s Deputy Attorney General (“DAG”) Rod Rosenstein announced the implementation of a new FCPA Corporate Enforcement Policy last week. (Here). The announcement was not a surprise based on earlier statements made by DAG Rosenstein. Before outlining the specific five takeaways, there are a few issues surrounding the release of the new policy that require some comment. DAG Rosenstein implemented...

Podcasts

3 Dec, 2017

Episode 13 — Top 10 Rules for Conducting Internal investigation Interviews

To implement an effective ethics and compliance program, global companies have to establish an effective internal investigation program. Whether conducting a critical or routine investigation, investigators have to be able to conduct interviews in a fair and effective manner. The success of an internal investigation often depends on the interviews of subjects and witnesses. In this podcast, Michael Volkov reviews his top 10 rules for...

General

30 Nov, 2017

New Episode — Everything Compliance: The Regulatory (Or Not) Edition

Tom Fox, the Compliance Evangelist and Guru, has posted a new episode of Everything Compliance, a roundtable discussion led by Tom and including Matt Kelly, Jonathan Armstrong, Jay Rosen, and myself. During this episode, we discuss Deputy Attorney General Rod Rosenstein, the Paradise Papers, corporate monitors, and the AT&T-Time Warner merger. Here is a link to the episode. Thanks to Tom, Matt, Jonathan, and Jay!

General

29 Nov, 2017

Incorporating AML Compliance Into a Compliance Program (Part III of III)

Global companies should implement an AML program and KYC practices that follow the general outline for best practices, though it does not need to be as rigorous as a financial institution. For most companies, AML risks can be addressed in existing policies and procedures and would not require extensive additions to a compliance program. However, a company has to document its risk assessment, mitigation strategies...

General

28 Nov, 2017

Addressing AML Risks in Your Third-Party and Vendor/Supplier Relationships (Part II of III)

Global companies should incorporate AML risks into their risk analysis of their third-party distributors, agents and other intermediaries. The basic questionnaire, due diligence risk analysis, contractual provisions, training, and partner code of conduct should reflect attention to this risk. To the extent that global companies rely on a network of third-party distributors and sub-distributors, global companies should include contractual provisions to flow-down policies and requirements...

General

27 Nov, 2017

Anti-Money Laundering Risks for Global Companies (Part I of III)

Non-financial institution companies operating in the global marketplace face ever-increasing risks of money laundering. Sophisticated criminal organizations have developed their own mechanisms and strategies to skirt money laundering rules and regulations. The Justice Department has targeted transnational organized crime for investigation and prosecution. As a consequence, non-financial institutions have to examine their policies and procedures to protect against handling proceeds of criminal activity or otherwise...

General

26 Nov, 2017

DOJ Continues Run on Individual FCPA Criminal Prosecutions

The Department of Justice announced criminal FCPA charges against two individuals in connection with bribery payments to foreign officials in Chad and Uganda. The Justice Department’s announcement occurred on the heels of unsealing criminal FCPA charges against 7 individuals arising from two separate investigations or enforcement actions. The FCPA Unit’s recent actions underscore that the Yates Memorandum appears to have had an impact on the...