Anti-Bribery

The government is warning banks to beef up compliance programs to defend against money laundering and related offenses. The push comes as proposed regulations trigger a shift from a flexible, risk-based approach to customer due diligence to a more prescriptive one that comes with hard-and-fast rules and thresholds. Earlier this month, the Treasury Department’s Financial […]

The government is warning banks to beef up compliance programs to defend against money laundering and related offenses. The push comes as proposed regulations trigger a shift from a flexible, risk-based approach to customer due diligence to a more prescriptive one that comes with hard-and-fast rules and thresholds. Earlier this month, the Treasury Department’s Financial […]

Suddenly, anti-money laundering compliance is the new black. We saw that last week with the latest advisory bulletin from FinCEN, a six-page bulletin of advice on how financial institutions can promote a culture of compliance for AML. The Organization for Security and Cooperation in Europe published guidance in July about how AML compliance can be […]

Layne Christensen announced last week that the Department of Justice has decided not to file any charges against the water management, construction, and drilling company in connection with a previously disclosed investigation into potential violations of the Foreign Corrupt Practices Act.   As Layne previously reported, questions were raised internally in September 2010 as to […]

The Second Circuit Court of Appeals this week affirmed the dismissal of a legal challenge filed by a whistleblower against Siemens, holding that the anti-retaliation provisions of the Dodd-Frank Act do not extend to employees outside the United States, marking a second victory in the case for companies that face such claims. As Compliance Week […]

Source Intelligence and the Center for Responsible Enterprise And Trade have recently launched an anti-corruption compliance solution that enables multinational companies to mitigate the risks of corruption among supply chain and business partners in countries throughout the world. Cross-border anti-corruption enforcement by the Department of Justice and SEC is changing aggressively, and companies need to […]

Cubist Pharmaceuticals disclosed this week in a regulatory filing with the Securities and Exchange Commission that it is under investigation by the SEC and Department of Justice for potential violations of the Foreign Corrupt Practices Act. In a Form 8-K, dated Aug. 11, Cubist said the FCPA allegations concern “a potentially improper payment to a […]

Intellinx, an enterprise fraud management solutions provider, today announced the general availability of its check fraud solution which provides accuracy and timeliness of fraud detection to minimize financial losses.  The system tracks multiple indicators of suspicious activity across customer, account and check data and combines this information with internal and external user activity collected using […]

BAE Systems Applied Intelligence recently unveiled its enhanced NetReveal Anti-Money Laundering (AML) suite of solutions, which offers an end-to-end service that will help clients address ever more rigorous regulatory requirements. The updated suite will offer current and prospective clients a range of new capabilities that will enhance their ability to prevent money laundering and terrorist […]

Dutch oil and gas company SBM Offshore disclosed in an earnings report yesterday that it could end up shelling out as much as $240 million to resolve an ongoing Department of Justice investigation concerning potential bribery payments made to government officials in Angola and Equatorial Guinea. In April 2012, SBM Offshore launched an internal investigation, […]