The old adage – if something is too good to be true, it probably is not – applies with equal force in the world of bribery and intrigue.  The recent arrest of the mining executive for obstruction of the Justice Department’s FCPA investigation of bribery of foreign officials in Guinea underscores the risks of undercover operations. At the recent Dow Jones Compliance Symposium in Washington,...

With all the attention on the Jodi Arias trial, I think it is worthwhile to identify good and bad trial practices.   I will try to refrain from lengthy criticisms but there are some points to be made. If anyone thinks the Jodi Arias trial is a sterling example of a criminal trial in our justice system, they are surely mistaken.  Much of the questioning, on...

As the old saying goes, even a broken clock is correct two times a day.  My prediction several weeks ago is turning out to be on target.  FCPA enforcement is continuing and will increase throughout the year – DOJ/SEC resources are available and long-term investigations are bearing fruit. In the last week, DOJ announced criminal indictments/pleas with three individuals – two from Alstom and one...

There are many unique challenges to managing an AML compliance program.  Depending on the size of the bank or financial institution, each presents a different constellation of compliance factors. Not to be trite but a lot depends on the size of the business and the accompanying volume of transactions and activities.  In comparison to an anti-corruption program where the focus is on interactions between company...

I apologize for the topic of this posting but I am compelled to voice my concerns.  As a former prosecutor and now white-collar defense attorney, it is painful to watch a criminal trial which is out of control.  ( I know that watching this trial is akin to admitting that I like to watch soap operas but my trial curiosity got the better of me)....

It is not every day that I can report on a new governance innovation which is being rapidly embraced and implemented by companies.  It may be one of the most significant corporate governance developments in the last five years, almost matching the empowerment of independent compliance officers. A few years ago the percentage of companies reporting the creation of a compliance committee was around 20...

Like every compliance project, when you start the process, it is important to conduct a careful assessment of risks and your company’s compliance program.  With the growing risk of criminal, civil and regulatory enforcement of BSA, sanctions and AML laws, banks and other financial institutions need to dedicate some time and effort to this process. From my experience, banks and financial institutions turn to –...

I am a little reluctant to raise this issue.  I am sure the overwhelming response will be “Yes, of course.”  I am prepared for that and for any criticism that I am only offering another profound grasp of the obvious. Is there a distinction between a corporate compliance officer and a corporate ethics officer?  I am a literal person, so I can easily say yes...

I used to say – if your business operates in China, you are likely violating the FCPA in one  way or another.  Permit me to revise my admonition: if your business operates in India, you are likely violating the FCPA in one way or another. What has happened?  From my own anecdotal experiences, which I know is not based on reliable sampling techniques, there appears...

Last year was the year of Bank Secrecy, sanctions and anti-Money Laundering enforcement.  The HSBC settlement sparked significant controversy over the claim by the Justice Department that HSBC and other banks are “too big to jail.”  Below the high-profile cases, there is another phenomena occurring – a resurgence in regulatory enforcement against banks and other financial institutions. With this constellation of enforcement – high-profile mega-cases...