Featured Articles:

Alex Cotoia Featured on Tom Fox’s Diligent Third-Party Risk Management Podcast Series

Alex Cotoia, Regulatory Manager at The Volkov Law Group, recently was featured on Tom Fox’s Diligent Podcast Series focused on Third-Party Risk Management. The Podcast is available HERE. In 2022, the overwhelming majority of FCPA related enforcement actions involved third parties and required organizations to reprioritize third party risk management. In this episode, Alex and Tom consider case studies involving ABB Limited, GOL Airlines and...

Michael Volkov on SCCE Podcast: What We Learned in 2022 and What it Means for 2023

I was honored to appear on Adam Turteltaub’s Society of Corporate Compliance and Ethics (SCCE’s) Podcast to discuss significant compliance events in 2022 and trends for 2023. Adam’s Introduction: A lot happened in compliance in 2022, with a large number of lessons for 2023. To sort it out we turned to Michael Volkov, of the Volkov Law Group and host of the Corruption, Crime & Compliance blog and podcast....

Corsa Coal Earns Declination and Agreed to Disgorge $1.2 Million

The Justice Department has been pushing its voluntary self-disclosure program and changes to its Corporate Enforcement Policy, in an attempt to increase FCPA enforcement cooperation.  The Golden Ring for every company facing this situation is a declination with disgorgement.  Only 17 companies have achieved that result. The latest beneficiary is Corsa Coal Corporation (“Corsa”), which cooperated with the Justice Department and resulted in the successful...

DOJ Outlines Compliance Expectations Relating to Preservation of Data from Messaging Applications (Part III of III)

The Justice Department finally released its new policy to improve corporate preservation of data generated by executives and employees.  In this new technology era, companies have had significant gaps in collecting and reviewing data generated by messaging applications, texting systems and emails.  While many employees have been using personal devices for business purposes, a large number of companies have failed to apply strict BYOD policies...

DOJ’s Criminal Division Issues Three-Year Pilot Program for Corporate Compensation Systems and Clawbacks (Part II of III)

The Justice Department is focusing with a laser beam on corporate incentives and disincentives.  This truly is a remarkable initiative and companies should undertake their own holistic review of internal incentives and disincentives.  For years, we have heard about corporate incentives to achieve earnings and how sales rewards can unintentionally distort compliance.  As an important step, DOJ’s Criminal Division recently issued its new, three-year Pilot...

Episode 266 — Joint Compliance Notice Issued on Sanctions and Export Controls Evasion

As we have noted on numerous occasions, the U.S. Russia Sanctions and Export Control Program is unprecedented and a compliance challenge for all organizations.   In another unprecedented action, the Justice Department and the Departments of Commerce and Treasury issued a Joint Compliance Note (“JCN”) on the importance of compliance with the Russia Sanctions and Export Control requirement, which provides important descriptions of red flags and...

DOJ Issues Revised Corporate Compliance Guidance: Consequence Management, Clawbacks and Human Resource Cooperation (Part I of III)

The Justice Department is rapidly pushing corporations to a new level of compliance.  We are witnessing a watershed moment – DOJ is raising the bar on expectations surrounding corporate compliance programs.  It would be a mistake, however, to interpret DOJ’s recent changes as limited to compliance compensation and preservation  of internal communications data. The New Push on Human Resource Cooperation When considered together, the changes...

Roger Ng, Former Goldman Sachs Banker, Sentenced to 10 Years’ Imprisonment For Role in 1MDB FCPA Scandal

The end of the road for Roger Ng, the Goldman Sachs Investment Banker, who played a critical role in the Goldman Sachs 1 MDB Malaysia scandal, was not a pretty one.  District Judge Margo Brodie gave Ng a severe sentence of ten (10) years’ imprisonment.  At the sentencing hearing, Judge Brodie chastised Ng for participating in a massive scheme to steal billions of dollars from...

Webinar: DOJ Raises the Bar on Corporate Compliance Programs

April 11, 2023 12 Noon EST Sign Up HERE The Justice Department continues to increase its expectations for corporate ethics and compliance programs. In recent months, DOJ has issued revisions to its Corporate Enforcement Policy and Evaluation of Corporate Compliance Programs. DOJ ‘s Criminal Division issued new guidance governing its Pilot Program governing Corporate Compliance Compensation Systems and Clawbacks. In combination, these documents underscore significant...

OFAC Settles First Case in 2023: Godfrey Phillips India Pays $332,500 for Violations of North Korea Sanctions Program

OFAC had a quiet start to the year – no enforcement actions but plenty of new and revised sanctions against Russia.  OFAC started off March 2023 with a new enforcement action against Godfrey Phillips India, a tobacco manufacturer headquartered in India.  Godfrey Phillips India (“GPI”) agreed to pay $332,500 for five violations of the North Korea Sanctions Program.  GPI’s violations stemmed indirectly from GPI’s receipt...