Tagged: Third-Party Risks

Episode 222 — Managing Third-Party Sanctions Risks

Economic sanctions enforcement is a fast-rising risk for global companies. For many years, the Treasury Department’s Office of Foreign Asset Control (“OFAC”) focused primarily on financial institutions. Over the last ten years, OFAC has stretched its enforcement eyes towards software, manufacturing, telecommunications and technology companies. With this growth in sanctions enforcement, OFAC has embraced an aggressive view of third-party risks. Like the FCPA, under OFAC’s regime, third parties...

Foster Wheeler FCPA Action: Dancing with the Devil – Risky Third Parties (Part II of III)

FCPA settlement actions often underscore specific compliance risks for legal and compliance professionals. If there ever was a case where third-party risks were bungled, and even intentionally embraced, the Foster Wheeler case provides  an important reminder for any organization focusing on third-party risk management.  The Foster Wheeler FCPA resolution could not be timed any better – with the expected increase in FCPA enforcement activity, DOJ...