The Department of Justice has acted swiftly on its vow to crack down on fraud during the coronavirus pandemic, issuing its first related enforcement action against a Website acting as an alleged wire-fraud scheme.
Risks in the extractives and aerospace industries are still prevalent, but the number of overall global and U.S. enforcement cases involving bribery dropped in 2019, according to the latest report from TRACE International.
Tee International disclosed enhancements to its compliance, risk management, and internal controls amid an ongoing investigation by authorities in Singapore into its former group chief executive for allegedly stealing company funds.
The financial and operational implications of COVID-19 for businesses are vast and damaging. One area of business impacted is internal investigations. Here’s why tele-investigating isn’t all bad.
John Wood Group said in a regulatory filing it has reserved $46 million in a potential settlement with authorities in the United States, Brazil, and Scotland related to a bribery investigation concerning ties to Monaco-based oil services firm Unaoil.
A former U.S. Department of Justice attorney laid bare the tools in his “lie detection” toolbox to help compliance officers manage this responsibility.
A DOJ-appointed independent compliance monitor has some important advice for companies in trouble that may mean not just remediation credit, but more importantly reputation restoration and the avoidance of larger problems down the line.
The long-serving ethics officer for the National Credit Union Administration retired late last year after admitting to visiting strip clubs and drinking on the job, according to an internal investigation.
Dietary supplement maker Herbalife said in a regulatory filing it has set aside $40 million in accrued liability concerning an investigation into the company’s compliance with the Foreign Corrupt Practices Act in China.
Newell Brands disclosed in a regulatory filing it is facing a Securities and Exchange Commission subpoena over its sales and accounting practices, particularly related to the impairment of goodwill and other intangible assets.
A U.S-based accountant who was charged alongside three others for their alleged roles in a decades-long criminal scheme perpetrated by Panama-headquartered law firm Mossack Fonseca and related entities has pleaded guilty.
Mattel announced it has received a subpoena from the Securities and Exchange Commission seeking documents related to a previously disclosed investigation that had uncovered accounting errors.
Electric car maker Tesla announced in a regulatory filing that the Securities and Exchange Commission has closed a previously announced investigation while also launching another, this time into Tesla’s financing arrangements.
Airbus is free to go about its business after paying a record fine to three anti-corruption agencies for widespread bribery, but the trouble is only beginning for some of its implicated contractors.
The DOJ’s scrutiny of Google’s online ad business reflects growing concerns over the tech giant’s potentially anticompetitive behavior, prompts the reclusion of an antitrust enforcement official from the probe, and points to closer coordination between federal and state authorities.
AirAsia is doing damage control after executives at the budget airline were referenced as recipients of a $50 million bribe from plane maker Airbus in the latter’s $4 billion global bribery settlement.
Embattled aerospace giant Boeing is being investigated by the Securities and Exchange Commission, in addition to already facing scrutiny from the Department of Justice, following two plane crashes that happened less than five months apart.
Airbus confirmed it has reached a deal with authorities in the United States, the United Kingdom, and France to resolve long-running allegations of bribery and corruption. The settlement could reportedly be worth billions.
Compliance Week sat down with Clear Law Institute CEO Michael Johnson to discuss what attendees of his “Science of Workplace Investigations” online workshop can expect to learn, including how to best spot a lie.
The SEC’s Office of Compliance Inspections and Examinations’ priorities in 2020 foster its risk-based approach and find room for both Main Street investors and innovation.
Landec, an innovator of health and wellness solutions, has discovered and reported to U.S. regulators a “compliance issue” at its Yucatan Foods production facility in Guanajuato, Mexico. It now faces a government probe into possible FCPA violations
Glencore announced it is under investigation by the U.K. Serious Fraud Office over suspicions of bribery, making it the third investigation the multinational commodity trading and mining company is now facing.
The National Highway Traffic Safety Administration has launched an investigation into electric-car company Tesla over potential battery defects that allegedly cause its vehicles to suddenly burst into flames.
Oilfield services company ProPetro Holding announced the SEC has opened an investigation into its financial disclosures and reporting.
Big Four audit firm EY has been accused of covering up evidence of smuggling by an organized crime gang that was laundering British drug money through gold dealings, according to an investigation by the BBC.
An antitrust investigation into Facebook led by the New York Attorney General’s office widened with the announcement that 47 attorneys general are now taking part.
The U.K. Serious Fraud Office has closed its investigation into manipulation of the London Interbank Offered Rate (LIBOR), ending a probe that began more than seven years ago.
A former Biomet Argentina employee—in a bit of FCPA hot water—landed on his company’s restricted persons list, sued for defamation, and lost.
Ericsson announced it has set aside $1.2 billion to resolve a long-running FCPA investigation that spans several geographies. CEO Börje Ekholm spoke candidly about the shortcomings of the company’s ethics and compliance program and how it’s addressing them.
Deputy Assistant Attorney General Matthew Miner put corporate compliance officers on notice with remarks about the feds’ increasing use of data analytics.
Ciena says the SEC advised the company it does not intend to recommend an enforcement action in connection with a previously disclosed investigation into potential violations of the FCPA.
Texas Attorney General Ken Paxton confirmed Monday that his office is leading an investigation by 50 attorneys general into technology giant Google for potential monopolistic business practices.
The New York Attorney General’s office is leading a multistate investigation into social media giant Facebook for potential antitrust issues.
FinCEN announced the launch of its newly created Global Investigations Division, with responsibility for targeting terrorist financing and money laundering threats, both domestically and internationally.
Mylan disclosed in a regulatory filing that it has reached a $30 million agreement-in-principle to resolve the SEC’s investigation alleging securities violations for disclosures surrounding EpiPens.
The U.S. Department of Justice has opened an antitrust probe into Big Tech firms that are ”engaging in practices that have reduced competition, stifled innovation, or otherwise harmed consumers.”
Walmart’s FCPA settlement serves as a cautionary tale for chief compliance officers everywhere of what not to do, but also on how to successfully redress underlying problems.
The European Commission is investigating Amazon over concerns that the company’s use of data gathered from independent retailers that sell on its marketplace breaches EU competition rules.
The Commodity Futures Trading Commission announced on July 1 an award of $2 million to two “model whistleblowers” who provided the agency with “significant information” that prompted the CFTC to open an investigation.
The SEC has closed its FCPA investigation into medical device company Misonix and will not be recommending an enforcement action, the company announced.
Walmart has agreed to pay a combined total of $282.7 million to resolve a more than seven-year investigation resulting from violations of the Foreign Corrupt Practices Act.
The SEC has fined KPMG for not only allegations of cheating on regulatory inspections, but also new charges of numerous auditors cheating on training exams.
The Financial Conduct Authority has concluded its investigation into the Royal Bank of Scotland and published a final report of its findings.
Opioid maker Insys Therapeutics has filed for bankruptcy after agreeing to a $225 million global resolution to settle investigations concerning deceptive marketing and distribution of the drug Subsys.
DOJ and SEC investigations into market security company OSI Systems have officially been terminated. No further information was provided.
The FTC has removed dating apps from Apple’s App Store and Google’s Google Play Store following allegations they allowed children as young as 12 to access them.
In an effective, disarming style, this Top Mind is using investigations to guide compliance, not just club noncompliance.
The U.S. Commodity Futures Trading Commission is investigating whether multinational commodity trading and mining company Glencore and its subsidiaries might have violated certain provisions of the Commodity Exchange Act and/or CFTC regulations.
The Consumer Financial Protection Bureau says it will provide financial services firms under investigation more detail on what violations prompted the agency’s scrutiny.
Rod Hardie, chief compliance officer at Exterran, discusses with columnist Tom Fox what he learned and experienced as an investigator with Baker Hughes during its FCPA investigation in the early 2000s.