All Internal Investigations articles – Page 3
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Article
Sterling Bank fined $6M by OCC over loan program lapses
Sterling Bank and Trust agreed to pay a fine of $6 million assessed by the Office of the Comptroller of the Currency for deficiencies in its former residential loan product.
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Article
Raymond James unit fined $500K for supervisory failures
A broker-dealer unit of Raymond James Financial agreed to pay $500,000 as part of a settlement with the Securities and Exchange Commission for alleged supervisory failures that included the input of a misinformed compliance officer.
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Article
DOJ to emphasize individual accountability, prior misconduct in corporate crime probes
Deputy Attorney General Lisa Monaco announced sweeping changes to the Department of Justice’s efforts to fight corporate crime, including new guidance regarding individual accountability, voluntary self-disclosure, compliance monitors, and ways to strengthen compliance culture.
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Article
CHS avoids fine in SEC accounting fraud case
Minnesota-based agricultural cooperative CHS settled charges levied by the Securities and Exchange Commission that the company violated federal securities laws when it filed materially false financial statements with the agency over five years.
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Article
Albemarle in settlement talks with SEC, DOJ over FCPA violations
Chemical company Albemarle Corp. has entered settlement talks with the Securities and Exchange Commission and Department of Justice regarding potential violations of the Foreign Corrupt Practices Act.
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Article
SEC probing Ericsson over Iraq corruption scandal
The Securities and Exchange Commission opened an investigation into Ericsson following the Swedish telecommunications company’s acknowledgement of evidence of “corruption-related misconduct” that occurred in its Iraq operations.
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Article
Compliance halts misconduct in SEC $5M RiverSource action
Minnesota-based broker-dealer RiverSource Distributors agreed to pay $5 million as part of a settlement with the Securities and Exchange Commission for improper switching of variable annuities carried out by certain of its employees.
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Article
Report: Investigation costs rising, driven by data assessment inefficiencies
More than three-quarters of respondents to a Kroll global benchmark report said they have conducted an internal investigation into fraud or corruption within the past three years and that the cost of such probes is on the rise.
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Article
DOJ eyeing PetroNor board chairman in corruption probe
The Department of Justice has become involved in a corruption investigation focused on individuals at Oslo-listed oil and gas exploration and production company PetroNor that has grown to include Board Chairman Eyas Alhomouz, a U.S. citizen.
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Article
Cash App breached by former employee; 8.2M affected
Approximately 8.2 million U.S. customers of Cash App Investing have been notified of a data breach carried out by a former employee of the mobile payment service provider.
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Ericsson mum on Iraq misconduct amid ‘comprehensive review’
Ericsson has launched a sweeping review into evidence it uncovered regarding misconduct in Iraq and the subsequent disclosure of those findings after the Department of Justice warned the Swedish telecom of a second breach of its 2019 deferred prosecution agreement.
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Webcast
CPE Webcast: Into the Ethicsverse: Closing cases in hyper speed
If you are not closing a large portion of your issues within the first 30 days, you may be working harder, not smarter. Plus, when cases are open too long, organizations can open themselves up to avoidable regulatory and legal risk.
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Article
DOJ informs Ericsson of second breach of DPA
Ericsson announced the Department of Justice determined the Swedish telecom breached its obligations under a 2019 deferred prosecution agreement again, this time for insufficient disclosure regarding conduct in Iraq.
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Article
PwC Canada fined $950K for internal training exam cheating
The Canadian affiliate of Big Four audit firm PwC has agreed to pay $950,000 in penalties between audit regulators in the United States and Canada after discovering widespread cheating among employees taking internal exams.
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Article
Baxter to pay $18M for foreign exchange accounting violations
American multinational healthcare product company Baxter International agreed to pay $18 million as part of a settlement with the Securities and Exchange Commission for accounting violations related to the recording of foreign currency transactions.
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Article
KT to pay $6.3M in SEC settlement for FCPA violations
KT Corp., South Korea’s largest telecom operator, will pay $6.3 million in a settlement with the Securities and Exchange Commission for violations of the books and records and internal accounting controls provisions of the Foreign Corrupt Practices Act.
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Article
Ericsson admits ‘corruption-related misconduct’ in Iraq; may have paid ISIS
Ericsson announced an internal investigation uncovered evidence of “corruption-related misconduct” that occurred in the Swedish telecommunications company’s Iraq operations between 2011 and 2019.
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Article
Hiltrud Werner leaves legacy of integrity at Volkswagen
Hiltrud Werner, Volkswagen’s board member and head of integrity and legal affairs who steered the company through its U.S. compliance monitorship post-Dieselgate, discusses her indelible mark on the auto giant and her future aspirations.
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Article
Remedial actions help HeadSpin avoid fine in SEC fraud settlement
Silicon Valley-based tech company HeadSpin’s significant remedial actions in response to its chief executive’s alleged fraudulent behavior helped it settle charges with the Securities and Exchange Commission without being fined.
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Article
Tencent fires 70 employees in latest anti-bribery crackdown
Chinese gaming and social media company Tencent said it fired nearly 70 employees last year as part of its ongoing anti-graft campaign and will stop doing business with 13 Chinese firms that have violated its anti-bribery standards.