Boeing has agreed to pay over $2.5 billion as part of a three-year deferred prosecution agreement entered into with the Justice Department to resolve a criminal charge related to the company’s 737 MAX scandal.
Jaclyn Jaeger
Jaclyn Jaeger is a freelance contributor to Compliance Week after working for the company for 15 years. She writes on a wide variety of topics, including ethics and compliance, risk management, legal, enforcement, technology, and more. Prior to joining CW, she spent four years as a legal reporter for Lawyer’s Weekly. Jaclyn attended undergraduate school at St. Joseph’s College of Maine and graduate school at Emerson College, earning degrees in journalism.
Posted inEurope
U.K. tax authority fines MT Global record $32.4M for AML failures
MT Global Limited, a U.K.-based money transfer company, was hit with a record £23.8 million (U.S. $32.4 million) fine by the U.K.’s tax authority for violations of anti-money laundering regulations.
Posted inRegulatory Enforcement
OFAC targets Iran metals sector with new sanctions
The Department of the Treasury’s Office of Foreign Assets Control designated more than a dozen new sanctions aimed to impact the revenue production of the Iranian metals sector.
Posted inRegulatory Enforcement
Argos USA to pay $20M in price-fixing scheme
Argos USA agreed to pay a $20 million criminal penalty to resolve DOJ charges of conspiracy to fix prices, rig bids, and allocate markets for sales of ready-mix concrete.
Posted inRegulatory Enforcement
OFAC fines French bank UBAF $8.6M for Syria-related sanctions violations
The Office of Foreign Assets Control settled with a French bank for processing payments on behalf of sanctioned Syrian financial institutions that were followed by corresponding funds transfers through the U.S. financial system.
Posted inEthics & Culture
Ticketmaster fined $10M for unauthorized access of rival’s systems
Ticketmaster agreed to a $10 million criminal fine as part of a deferred prosecution agreement to resolve charges that it repeatedly accessed the computer systems of a competitor without authorization to illegally gather business intelligence.
Posted inAccounting & Auditing
New IAASB standards tackle audit quality management
The International Auditing and Assurance Standards Board has issued a trio of new and revised standards intended to strengthen and modernize the way audit firms on an international level approach quality management.
Posted inInternal Controls
Learning from SolarWinds: Five steps to fortify your cloud supply chain
For most companies, supply chain risk management traditionally focuses on managing physical third-party risks. But what the SolarWinds cyber-attack revealed is the catastrophic havoc fourth and fifth parties can also wreak in the often-ignored cloud supply chain.
Posted inAccounting & Auditing
RPM, chief compliance officer to pay $2M for accounting violations
RPM International and its general counsel and chief compliance officer have agreed to a $2 million settlement with the SEC for accounting and disclosure rules violations relating to a prior DOJ investigation.
Posted inInternal Controls
Compliance called out in Walmart opioid lawsuit
The Department of Justice alleged many failures by Walmart’s compliance program in its 160-page lawsuit accusing the retailer of playing an active role in fueling the opioid epidemic.
