With a six-month ban on enforcement of the Foreign Corrupt Practices Act, compliance should retreat from fear-based messaging and instead focus on why ethical practices make good business sense, experts say.
Anti-Bribery
Posted inAnti-Bribery
Financial crime in the shadows of the dark web
The dark web has been depicted as a long-standing hub for crimes, where illegal activities such as drug dealing, financial fraud, weapon sales, murder for hire, stolen credit cards, and ransomware gags are easily accessible to the public.
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Bondi-led DOJ sharply pivots away from prosecution of corporate FCPA violations
The U.S. Department of Justice under new Attorney General Pam Bondi will de-emphasize white collar misconduct linked to bribes and foreign corruption, instead prioritizing corruption cases linked to human smuggling and the trafficking of narcotics and firearms.
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Five more compliance triumphs of 2024
Whether you’re a multinational telecommunications company looking to certify your anti-corruption program post-settlement, or a biochemical company victimized by a “rogue” employee, seeing the light at the end of the enforcement tunnel isn’t always easy.
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AAR Corp. to pay $56M to settle FCPA violations in Nepal, South Africa
Aviation maintenance services provider AAR Corp. will pay nearly $56 million to settle charges that it violated the Foreign Corrupt Practices Act when it paid bribes to government officials in Nepal and South Africa.
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DOJ hits McKinsey & Co. subsidiary with $123M criminal penalty over bribes in South Africa
A subsidiary of McKinsey & Co. will pay nearly $123 million to the Department of Justice to settle allegations that it bribed officials in South Africa to win consulting contracts.
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French defense contractor Thales Group under investigation for bribery in Asia
French defense and aviation contractor Thales Group is under investigation by authorities in the U.K. and France for allegedly participating in bribery and corruption.
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Adani Group CEO, seven business executives charged in huge $250M bribery scheme
Eight business executives, including the billionaire owner of Indian energy company Adani Group, were charged with fraud for their alleged roles in a multi-million bribery scheme to win a solar energy contract in India.
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BIT Mining changes business model, pays $10M fine to resolve FCPA violations
A publicly traded cryptocurrency mining company will pay $10 million and completely change its business model to one with “lower corruption risk” as part of a settlement over violations of the Foreign Corrupt Practices Act (FCPA), two regulators announced.
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Experts explain why red flags can often be ignored due to ‘underlying systematic issues’
Companies spend huge sums on audit, risk management, and compliance to alert them about potential legal issues before they escalate into serious corporate governance failings. There’s only one problem, however–they often misread their own early warning signs or ignore them altogether.
