Featured Articles:

FinCEN Issues Human Trafficking Advisory (Part II of II)

Elizabeth Slim, Senior Consultant at The Volkov Law Group, joins us for part II of her postings on the problem of human trafficking and recent guidance issued by FinCEN.  Elizabeth can be reached at eslim@volkovlaw.com. Human traffickers, like all criminals, rely on the international financial system to facilitate their crimes and to disguise proceeds from their illegal activities.  Traffickers open bank accounts to deposit and...

The Scourge of Human Trafficking and Financial Red Flags (Part I of II)

Elizabeth Slim, Senior Consultant at The Volkov Law Group, joins us for a two-part posting on the problem of human trafficking and recent guidance issued by FinCEN.  Elizabeth can be reached at eslim@volkovlaw.com. Human trafficking has become one of the most profitable forms of international crime.  At an estimated $150 billion worldwide per year, it ranks third to drug trafficking and counterfeit goods.  There are...

Episode 169 — DOJ Files Antitrust Case Against Google

The Department of Justice and eleven state Attorneys General filed an antitrust case against Google in the United States Court for the District of Columbia.  DOJ’s filing was hurried at the behest of the Attorney General Bill Barr, and reflects DOJ’s growing focus on high-tech businesses and monopolization conduct.  DOJ’s case joins a long list of high-profile monopolization cases, including Microsoft, AT&T and IBM.  DOJ’s...

The Herbalife FCPA Settlement: Board Oversight and Internal Audit Failures

In the enforcement and compliance arena, there are instances of misconduct that underscore important governance principles. But this just sounds like a bunch of mumbo jumbo (the technical term, I know). In the face of inexplicable behavior and failures to act, I often come back to the simple, but powerful phrase, “You Should Have Known Better.”  The use of this phrase carries with it a...

Veterans Day: Service and Sacrifice

At the Volkov Law Group, we want to take a moment to express out gratitude for the service and sacrifice made by our military and their families. On this day of remembrance, it is important to reflect on the importance of military service by all of our service members and their families and recognize them all for their incredible contributions and sacrifice for our country.

Goldman Sachs and the Economic Impact of Corruption

The breadth of Goldman Sachs’ corruption in the recent DOJ and SEC FCPA enforcement action underscored the important global goal of reducing corruption.  It goes without saying – corruption has a pernicious impact on economic development of fragile economies to the detriment of thousands, if not millions, of innocent civilians.  The measurement of such harms is often cited to describe the scope of suffering for...

Beam Suntory Bribery Scheme: Another Controls Failure (Part II of II)

The Beam Suntory case is yet another example of a failure of internal and external auditors, and legal and compliance professionals.  Reviewing cases involves a focus on how and why a compliance failure occurred.  In many cases, legal, compliance and internal auditors are being shunned, ignored, or subjected to pressure to keep their mouths shut or agree to go forward with otherwise problematic transactions or...

Webinar: The Nuts and Bolts of OFAC Sanctions Compliance

Webinar: The Nuts and Bolts of OFAC Sanctions Compliance November 19, 2020 at 12 Noon EST Sign up HERE. The U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) maintains a variety of sanctions programs, which can all vary in their scope and requirements. However, while OFAC sanctions can be complicated, ensuring compliance doesn’t have to be. Regardless of the program, understanding the fundamental...

DOJ Hits Beam Suntory with FCPA Settlement for $19.5 Million (Part I of II)

Beam Suntory, a global producer and distributor of distilled beverages, settled its FCPA case with DOJ for $19.5 million for bribes paid in India.  The DOJ settlement follows an SEC FCPA settlement for $8 million announced on July 2, 2018.  The timing of the FCPA settlements is unusual and suggests that DOJ’s resolution involved unique issues relating to Beam Suntory’s cooperation.  The SEC resolution was...

Episode 168 — Review of Merit Medical False Claims Act Settlement

Medical device maker Merit Medical Systems (“MMS”) agreed to pay $18 million to resolve allegations that the company submitted false claims to Medicare, Medicaid and TRICARE by paying kickbacks to physicians and hospitals to induce increased use of MMS products. Dr. Charles J. Wolf, Merit’s former chief compliance officer, filed a whistleblower complaint against the firm in April 2016 following his resignation, in which he...