After reviewing the FCPA Blog’s post, “When do issuers disclose their FCPA problems?” which focused on the seven resolved FCPA cases during the first half of 2018, I also examined each of the enforcement actions with a specific goal of determining the impact of due diligence in these cases.… Continue Reading
Two days ago, one of my senior analysts burst into my office proclaiming, “You can’t imagine what I found and how I found it!” My interest was piqued so he took a few minutes to explain the situation.… Continue Reading
In the recent Kinross FCPA case, the Securities and Exchange Commission stated that: “Kinross contracted with a politically-well-connected third-party consultant to facilitate contacts with high-level government officials without conducting the heightened due diligence required by the company’s policies and procedures…”
As I have stated in several posts over the years, the need for enhanced due diligence is still critical when engaging high-risk intermediaries.… Continue Reading
Over the past 10 years, I’ve seen many new firms enter the FCPA due diligence space. They’re often big data companies commoditizing the investigative field.
These firms use technology to expand outside of their niche, into the domain of investigations and licensed private investigative agencies, whose entire business model focuses on investigative analyst-led research.… Continue Reading
After reviewing several articles including the recent FCPA Blog post, “Alleged Och Ziff Africa ‘fixer’ arrested for FCPA offenses,” my focus immediately shifted to due diligence procedures. Specifically, I thought about the risk profile of Samuel Mebiame.
Would pre-engagement due diligence on Mr.… Continue Reading
The Unaoil scandal has again brought FCPA due diligence to the forefront. Specifically, the question asked of compliance officers is, “How much due diligence is enough?”
The answer, still, is “it depends.”
But when things go wrong, the due diligence that was done is always “not enough.” It’s very easy to play armchair quarterback and second-guess the situation after the fact, but the truth of the matter is that due diligence is a very complex and challenging undertaking.… Continue Reading