Las Vegas Sands Corp. agreed Thursday to pay a $9 million penalty to settle charges that it violated the Foreign Corrupt Practices Act by failing to properly authorize or document millions of dollars in payments to a consultant hired to help it do business in China and Macau.… Continue Reading
On April 5 the DOJ’s Fraud Section of the Criminal Division released a policy document called The Fraud Sections’ Foreign Corrupt Practices Act Enforcement Plan and Guidance. The new Guidance is an attempt to bring greater transparency to the benefits corporations will achieve by voluntarily disclosing FCPA problems and fully cooperating with investigations of these problems. … Continue Reading
An increased urgency is growing around the world regarding the need to confront the deep-rooted problem of corruption.
Prime Minister David Cameron plans to host a major international anti-corruption summit in London in May 2016 that will engage the global community on this issue. … Continue Reading
The DOJ Fraud Section’s recently released FCPA Enforcement Plan and Guidance outlines a novel one-year pilot program for corporate self-reporting and cooperation, with specific fine reduction incentives.
“Appropriate remediation” is one of the pre-requisites for qualifying for these incentives, focused largely on compliance program characteristics and other preventive measures.… Continue Reading
The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) on Tuesday fined the Sparks Nugget $1 million after the casino admitted that it willfully violated the anti-money laundering (AML) provisions of the Bank Secrecy Act.… Continue Reading