Corruption, Crime & Compliance

Featured Articles:

9 Jun, 2021

Cyber Incidents Underscore Absence of Real Private Sector Cybersecurity Standards

Sometimes it takes a public event to remind corporate risk managers about the importance of effective risk management. While corporate risk management functions have become yet another “hot” topic or new-fangled response to corporate failures to prevent obvious risk, most organizations continue to wander in the world of reactive business planning rather than proactive prevention. It has been fairly obvious for years that most corporate...

General

8 Jun, 2021

The SEC’s Push on ESG Disclosure Regulations

Corporations are holding their respective breaths. SEC Chairperson Gary Gensler and his SEC colleagues are moving quickly to establish a regulatory framework for ESG disclosures. Climate change and diversity are the key issues surrounding this disclosure regime. The SEC initiative is easier said than done and presents a number of interesting issues that will have to be resolved. The SEC has invited comments on climate...

DOJ Indicts Two Former Diplomats from Chad for Taking a $2 Million Bribe

General

7 Jun, 2021

DOJ Indicts Two Former Diplomats from Chad for Taking a $2 Million Bribe

Over the last ten years, we have seen a steady increase in the coordination and cooperation among international prosecutors and law enforcement to prosecute bribery cases. In a recent example, the Justice Department unsealed criminal charges against two former diplomats from Chad for taking a $2 million bribe from Griffiths Energy International, Inc., a Canadian energy company. The indictment was originally returned in 2019 and...

Episode 197 — Review of LRN and NAVEX Global Compliance Surveys and Reports

Podcasts

6 Jun, 2021

Episode 197 — Review of LRN and NAVEX Global Compliance Surveys and Reports

LRN and NAVEX Global release two important annual surveys. LRN issues a yearly report on ethics and compliance program effectiveness. NAVEX Global issues an important annual report on incident management trends based on its large database of hotline data. In this Episode, Michael Volkov review these two reports and the important ethics and compliance trends.

Julius Baer Bank Resolves Money Laundering Charges in FIFA Scandal and Pays Nearly $80 Million

General

3 Jun, 2021

Julius Baer Bank Resolves Money Laundering Charges in FIFA Scandal and Pays Nearly $80 Million

The Justice Department continues to pile up victories out of the world soccer FIFA federation bribery scandal. Julius Baer Group, the Swiss banker, agreed to a three-year, deferred prosecution agreement (DPA) and to pay nearly $80 million to resolve money laundering charges. Julius Baer laundered approximately $36 million in bribes between February 2013 and May 2015 in which sports marketing companies bribed soccer officials for...

DOJ Charges Two Austrian Bankers with Money Laundering as Part of Massive Odebrecht Bribery Scheme

General

2 Jun, 2021

DOJ Charges Two Austrian Bankers with Money Laundering as Part of Massive Odebrecht Bribery Scheme

The Department of Justice is starting to launch its FCPA enforcement profile after a brief lull in DOJ’s transition to a new administration. This enforcement lull occurred in the transition to the prior administration in 2016, and there is nothing to glean from it since it is a natural occurrence when a new Justice Department administration takes the reins of power. Last week, we had...

The EU Speaking Up Regime – Plenty of Process and Protection but no Bounties

General

1 Jun, 2021

The EU Speaking Up Regime – Plenty of Process and Protection but no Bounties

Andre Bywater and Jonathan Armstrong join us for a guest posting on the EU Speaking Up regime. André and Jonathan are lawyers with Cordery in London, United Kingdom, where they focus on compliance issues. André Bywater can be reached at [email protected] and Jonathan Armstrong can be reached at [email protected]. In 2019 the EU introduced new rules to enable whistleblowers to report about EU law irregularities...

Episode 196 — Managing Cybersecurity Risks

Podcasts

31 May, 2021

Episode 196 — Managing Cybersecurity Risks

The ransomware attack on Colonial Pipeline demonstrated yet again the failure of government and business to anticipate cybersecurity issues through traditional tools – risk and vulnerability analysis, implementation of technology and planning to minimize a cyber event, and crisis response protocol. In the aftermath of this debacle, the public lined up to purchase gallons of gasoline because of a short-term shortage in gasoline. These scenes of panic...

General

31 May, 2021

Memorial Day: A Day of Honor

Thank you to the brave men and women who have made the ultimate sacrifice. We honor their service, their courage, and their memories. Let us use this holiday to remind us all of our heroes and to honer them for their service.

General

27 May, 2021

Finding the Right Balance: Sales Incentives and Internal Controls

When you look at the core of several major financial scandals, it is easy to point to problems with sales incentives and corporate culture. A company can rapidly grow due to the extraordinary performance of a company’s sales culture. In many cases, this sales culture creates real and significant risks for misconduct. To address such potential for misconduct, companies rely on internal controls to constrain...