FIFA Drops the Ball: Corruption and FCPA Charges
Last week, a 47-count indictment was unsealed in a federal court in Brooklyn, charging 14 defendants—all associated with the governing body of international soccer, the Fédération Internationale de Football Association—in connection with their participation in a 24-year scheme to enrich themselves through the corruption of international soccer. In a special ...
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FIFA Fallout Has Banks Fearing Due Diligence Failures
The FIFA corruption scandal has pulled many banks—HSBC, Barclays, Citigroup, Bank of America—into its orbit, although none have tumbled into the black hole just yet. The case does, however, send a vivid message on the importance of enhanced due diligence processes. “It is not enough to know your customer,” says ...
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PremiumBribery risk elevated, experts say, as DOJ narrows FCPA enforcement
When the U.S. Department of Justice announced a six-month enforcement pause of the Foreign Corrupt Practices Act (FCPA) in February, many speculated that the risks posed by bribery had been lowered. So when the DOJ said last week that it would resume launching FCPA investigations, it may just seem like ...