DOJ targets $14.6B in health care fraud with focus on transnational crime
Emerging enforcement priorities of the U.S. Department of Justice’s health care fraud division align with the Trump administration’s emphasis on prosecuting transnational criminal organizations and ending opioid trafficking.
Bribery 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 ...
After a six-month enforcement pause, DOJ will again pursue FPCA investigations
The Department of Justice has ended its six-month FCPA enforcement pause, closed half its legacy bribery cases, and will now pursue foreign bribery probes aligned with President Donald Trump’s priorities.
Communication and relationships is increasingly critical for compliance teams
Compliance is increasingly in the spotlight as companies are tackling everything from artificial intelligence and other new technologies to risk management and mitigation. But it’s soft skills of communication and relationship building that are becoming the most critical tools for success.
Technology advancements are making export controls more important than ever
Russia’s invasion of Ukraine has sparked a war with unusual implications: The U.S. has stepped up sanctions and export controls. But companies are increasingly learning that the most seemingly innocuous products can find themselves in “dual use,” as a product for daily life and a product for war. A gyroscope ...
ESG goes beyond politics: Vendor management, forced labor, sustainability
ESG is no longer in vogue. But its issues still are.
UK regulator’s efforts to coax self-reporting fraud could fall flat, experts warn
To both clean up corporate behaviour and rack up its own enforcement record, the UK’s anti-bribery agency has seemingly largely guaranteed companies a pass from prosecution if they spill the beans on their misconduct. There’s only one problem: experts believe businesses may still stand a better outcome if they front ...
In continuing re-evaluation of FCPA cases, DOJ ends Albemarle FCPA reporting
The Department of Justice has ended another FCPA-related compliance action more than a year early. This scaling back of regulatory enforcement by the federal government has been a growing trend since the start of the Trump administration.
Under intense pressure, former DOJ Polite says it’s compliance’s time to shine
Like never before in modern American history, ethics and compliance are under attack.
Glencore compliance monitorships ended early by DOJ
The U.S. Department of Justice ended two compliance monitorships on Glencore International more than a year early, monitorships imposed in 2022 after the company was convicted of paying bribes and manipulating commodities markets.
As DOJ pivots away from white-collar enforcement, is FCPA still relevant?
While executives and boards will never conclude that bribery is a legitimate way of doing business, understandably many have questions about how to direct their FCPA compliance program efforts and resources, write Iris Bennett and Claire Rajan, partners at law firm Steptoe.
Trump has called for a six-month ban on FCPA enforcement. How should compliance respond?
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
Spanish telecomm Telefónica S.A. fined $85M over bribes to government officials in Venezuela
A subsidiary of Spanish telecommunications provider Telefónica S.A. will pay $85.2 million to settle a charge that it violated the Foreign Corrupt Practices Act when it paid bribes to Venezuelan officials to gain preferential access to a currency auction.
Raytheon parent RTX settles false claims, defective pricing, Qatar FCPA violations for $950M
The other shoe finally dropped for Raytheon and parent company RTX, as two U.S. regulators announced nearly $1 billion in penalties to settle defective pricing in defense contracts, false claims related to inflated prices on government contracts, and bribes paid to government officials in Qatar that violated the FCPA.
Poor internal controls led to FCPA violations in Moog’s $1.7M settlement with SEC
A company culture geared to “win business at any cost” encouraged employees of New York-based aerospace manufacturer Moog to pay bribes in India to win contracts, the Securities and Exchange Commission alleged.
AAR Corp. discloses former exec implicated in Nepal, South Africa FCPA violations
Aviation maintenance services provider AAR Corp. disclosed that several former employees may have bribed officials in Nepal and South Africa to win contracts, and chose to self-report violations of the Foreign Corrupt Practices Act to authorities in the U.S. and U.K.
John Deere to pay $10M to settle FCPA violations by subsidiary in Thailand
Illinois-based manufacturer John Deere will pay approximately $10 million in penalties and disgorgement to the Securities and Exchange Commission for violating the Foreign Corrupt Practices Act with bribes paid by a Thai subsidiary.
Ex-trader at Vitol latest to plead guilty in alleged PEMEX bribery scheme
A former trader at the U.S. affiliate of energy giant Vitol pleaded guilty to bribing officials at Petroleos Mexicanos in an effort to secure contracts.
Podcast: BCG managing director on anti-financial crime technology
Staff writer Aaron Nicodemus discussed anti-financial crime technology in banking with Hanjo Seibert, managing director and partner of Boston Consulting Group, during the latest episode of the Compliance Week podcast.
Game-changing DOJ pilot whistleblower program panned by critics
The Department of Justice released the details of its long-awaited corporate whistleblower awards pilot program that will prioritize reporting in areas of corporate crime not currently covered by existing whistleblower programs.
SFO staffing shortages improve under new leadership
Staffing shortages that have plagued the U.K. Serious Fraud Office are trending in the right direction since its new director took charge, with the anti-bribery agency forging ahead with initiatives to ensure its future sustainability.
Former U.K. Gambling Commission investigator on AML/CFT regulations
Recent events have put a spotlight on the role of the U.K. Gambling Commission, following its investigation into privileged information allegedly being used to bet on the date of the U.K. general election.
Raytheon parent reserves $1.24B over improper payments, export control violations
RTX Corp., the parent company of Raytheon, disclosed in a public filing it has reserved $1.24 billion to resolve legacy legal matters with the Department of Justice, Securities and Exchange Commission, and Department of State.