Internal Investigations


News Brief

Albemarle to pay $218M in FCPA settlements with DOJ, SEC


Chemical company Albemarle was assessed penalties totaling more than $218 million as part of settlements with the Department of Justice and Securities and Exchange Commission addressing alleged violations of the Foreign Corrupt Practices Act across a handful of foreign countries.


News Brief

Clear Channel Outdoor to pay $26M in FCPA case over China bribes


Clear Channel Outdoor Holdings agreed to pay more than $26 million as part of a settlement with the Securities and Exchange Commission alleging its former China-based subsidiary bribed government officials to obtain outdoor advertising contracts.

SEC office

News Brief

GTT Communications spared fine in SEC disclosure failure case


GTT Communications, a provider of telecommunications and internet services, avoided a civil penalty in reaching a settlement with the Securities and Exchange Commission addressing alleged disclosure failures over more than a two-year period.


News Brief

Swedish DPA fines Trygg-Hansa $3.2M for GDPR breaches


Sweden’s data protection authority issued a penalty of 35 million Swedish krona (U.S. $3.2 million) against insurance company Trygg-Hansa for alleged security flaws that made customer insurance information accessible on the internet.


News Brief

Lovesac facing shareholder pressure over accounting errors


The Lovesac Company disclosed it expects to restate certain of its 2023 financial statements after an internal investigation uncovered accounting errors related to its recording of last mile freight expenses.


News Brief

​Grupo Aval to pay $81M in landmark FCPA case


Colombian conglomerate Grupo Aval agreed to pay nearly $81 million as part of settlements addressing alleged bribes paid by its bank subsidiary Corficolombiana to win a highway construction contract.



​SEC’s latest whistleblower award worth note beyond $104M payout


The SEC announced a $104 million award split among seven whistleblowers, but the fact nearly a dozen claimants contacted the agency seeking to provide information related to one action should be notable to companies regarding the stakes of the current whistleblower landscape.


News Brief

Albemarle reserves $219M for FCPA settlements


Chemical company Albemarle Corp. disclosed it is set to pay $218.5 million as part of proposed settlements reached with the Department of Justice and Securities and Exchange Commission regarding apparent violations of the Foreign Corrupt Practices Act.



Financial crime investigations: Leveling up

2023-08-01T15:54:00+01:00By James Thomas, International Compliance Association

The drive toward upskilling in the field of investigations is not exclusive to the law enforcement and intelligence communities. Investigations knowledge and expertise among those working within industry will also become an increasingly valued commodity.



Supreme Court to consider case that could affect corporate whistleblowing


The Supreme Court agreed to hear arguments in a case, Murray v. UBS Securities, that has focused attention on the burden of proof whistleblowers reporting misconduct internally must meet to establish retaliation by their public company employer.


News Brief

​PwC Australia removes chief risk officer after tax scandal review


PwC Australia exited eight partners, including its former chief risk and reputation officer, following an investigation into the sharing of confidential government tax policy information at the firm.

Stanley Black & Decker

News Brief

​Stanley Black & Decker avoids fine in SEC executive perks case


Tool manufacturer Stanley Black & Decker avoided a civil penalty in settling with the Securities and Exchange Commission regarding alleged violations of executive perk disclosure rules.



Nutanix discloses remediation steps following costly software misuse


A lack of oversight of employees handling vendor software is one of several failings at cloud computing company Nutanix that led to misuse, $11 million in estimated costs, and two pending lawsuits.

Culture panel CW2023


CW2023 panel: Taking on the corporate culture monster


A trio of panelists offered a framework and strategy for embedding ethical culture into organizations at Compliance Week’s 2023 National Conference.

Compliance and HR CW2023


‘Elephant in the room’: Combating tension between compliance, HR


Regulators are collaborating—both domestically and internationally—more than ever before. And they expect companies to be doing the same, noted panelists during a session on collaboration between compliance and human resources at Compliance Week’s 2023 National Conference.


News Brief

Philips to pay $62M to settle alleged FCPA violations in China


Dutch conglomerate Royal Philips will pay more than $62 million to settle allegations it violated the Foreign Corrupt Practices Act when its subsidiaries engaged in improper conduct to win contracts in China.


News Brief

Frank’s International to pay $8M in FCPA case


Dutch oilfield services provider Frank’s International agreed to pay nearly $8 million as part of a settlement with the Securities and Exchange Commission for allegedly paying bribes to influence oil drilling contracts in Angola.



Ericsson’s sordid affair with DOJ raises questions on DPAs, transparency


A critical examination of Ericsson’s 2019 deferred prosecution agreement and the Department of Justice’s determination the company breached the agreement raises questions regarding the overall lack of accountability in the corruption scheme.



Alleged fraudster cited privacy in duping JPMorgan into $175M merger


Charlie Javice and her startup Frank allegedly convinced the country’s largest bank to pay $175 million for what largely amounted to a list of fake college students. The apparent due diligence failures by JPMorgan Chase offer a cautionary tale to compliance professionals.

Wells Fargo

News Brief

Wells Fargo fined $98M for facilitating sanctions violations in Iran, Syria, Sudan


Wells Fargo will pay nearly $98 million to settle charges a subsidiary facilitated more than $532 million worth of prohibited transactions in violation of sanctions against Iran, Syria, and Sudan.


News Brief

Evoqua Water Technologies to pay $8.5M for alleged revenue inflation


Evoqua Water Technologies Corp. agreed to pay $8.5 million to resolve charges the actions of a former company finance director led the firm to misstate its revenue in filings with the Securities and Exchange Commission.


News Brief

SEC orders Rio Tinto to pay $15M over FCPA violations


U.K.-based mining and minerals company Rio Tinto will pay a $15 million fine to settle charges of violating the Foreign Corrupt Practices Act when it entered into a scheme with a consultant in 2011 to bribe government officials in Guinea.

Google HQ


​Google, Uber CCOs share approaches to data analytics


The chief compliance officers of Google and Uber offer insight into how their data analytics compliance programs have evolved amid enhanced scrutiny on use of technology from the Department of Justice.

Credit Suisse

News Brief

FINMA: Credit Suisse ‘seriously breached’ duty regarding Greensill


Poor risk management by Credit Suisse’s asset management company kept the bank mostly unaware of the risky nature of lending procedures used by Lex Greensill that would lead to the collapse of Greensill Capital, according to Switzerland’s Financial Market Supervisory Authority.

DOJ wall

News Brief

DOJ publishes voluntary self-disclosure policy for corporations


The Department of Justice codified a new policy regarding the voluntary self-disclosure of corporate misconduct, following recent announcements on the updates by agency officials.

Mormon church

News Brief

Mormon church, investment manager pay $5M for misstating asset ownership


The Church of Jesus Christ of Latter-day Saints and its investment advisory firm agreed to pay a total of $5 million to settle charges from the Securities and Exchange Commission that both entities conspired to obscure the value of the church’s investments.

Accounting fraud

News Brief

Roadrunner avoids $9.6M in penalties in SEC accounting fraud case


Roadrunner Transportation Systems avoided further penalties regarding allegations of accounting fraud after the Securities and Exchange Commission deemed a $20 million class-action settlement agreed to in 2019 returned any ill-gotten gains.


News Brief

Lee Enterprises flags ICFR weaknesses following internal review


Lee Enterprises, the media company that owns the St. Louis Post-Dispatch and 76 other newspapers nationwide, concluded its internal controls over financial reporting were not effective for the fiscal year ended Sept. 25, 2022.

Magnifying glass

News Brief

Acacia Research says probe confirmed ex-CEO’s misconduct


Acacia Research Corp. disclosed the completed findings of its internal investigation into former CEO Clifford Press and whether he misappropriated corporate funds and resources for personal use.



Allianz case questions if DOJ encouraging scapegoating in individual liability push


Is the Department of Justice’s focus on individual accountability in white-collar crime cases encouraging companies to scapegoat their employees? A recent court filing in a $6 billion corporate fraud case could give company officers some sleepless nights.

Morgan Stanley

News Brief

Reports: Morgan Stanley fines bankers up to $1M for off-channel communications


Morgan Stanley fined its employees up to $1 million for using unauthorized communication channels in violation of recordkeeping rules, according to multiple reports.

CW2022 Kenneth Polite 2

News Brief

DOJ urges voluntary self-disclosure in corporate enforcement policy updates


The Department of Justice unveiled new incentives to encourage companies to voluntarily report violations of the Foreign Corrupt Practices Act, including steep discounts in monetary fines against businesses that self-disclose misconduct.


News Brief

McDonald’s avoids SEC fine for misleading statements related to fired CEO


The Securities and Exchange Commission found McDonald’s violated federal securities law when it failed to fully disclose material factors regarding the firing of former Chief Executive Stephen Easterbrook in 2019.



DOJ, SEC extend Ericsson compliance monitorship one year


Swedish telecommunications company Ericsson agreed with U.S. authorities on a one-year extension of its independent compliance monitorship after a second breach of its obligations under a deferred prosecution agreement earlier this year.



Avaya discloses ICFR weaknesses linked to whistleblower logs


Avaya Holdings disclosed its assessment of internal control over financial reporting in its fiscal year 2021 annual report can’t be relied upon, along with acknowledging weaknesses in its ethics and compliance program.

Julius Baer


FCA fines Julius Baer subsidiary $21.5M for bribery scheme


Julius Baer International will pay more than £18 million (U.S. $21.5 million) to settle charges laid by the U.K. Financial Conduct Authority for paying bribes to generate business with a Russian oil company.



Unisys: Probe identified ‘material weaknesses’ in disclosure controls


IT services company Unisys Corp. revealed the discovery of faults in its internal control over financial reporting, including involving its compliance functions, following an internal investigation it first disclosed earlier this month.



Leidos Holdings under investigation for alleged FCPA violations


Leidos Holdings, a Virginia-based information technology, engineering, aerospace, and defense firm, disclosed it is under investigation by federal law enforcement for alleged violations of the Foreign Corrupt Practices Act.



Automation can improve AML compliance but won’t replace human touch


While automation has the potential to transform anti-money laundering compliance, it will not replace the human practitioners relied upon to get investigations to the finish line, experts discussed at the ACAMS annual conference in Las Vegas.

Money laundering


Effective collaboration key to fight against financial crime

2022-10-10T14:16:00+01:00By James Thomas, International Compliance Association

The Fintel Alliance—a partnership involving AML regulator AUSTRAC, Western Australia Police, and analysts from a handful of large banks—provides an example of the positive outcomes of collaboration in fighting financial crime.