News and commentary about white-collar crime, enforcement, and compliance
Harry Cassin
Publisher and Editor
Andy Spalding
Senior Editor
Jessica Tillipman
Senior Editor
Bill Steinman
Senior Editor
Richard L. Cassin
Editor at Large
Elizabeth K. Spahn
Editor Emeritus
Cody Worthington
Contributing Editor
Julie DiMauro
Contributing Editor
Thomas Fox
Contributing Editor
Marc Alain Bohn
Contributing Editor
Bill Waite
Contributing Editor
Russell A. Stamets
Contributing Editor
Richard Bistrong
Contributing Editor
Eric Carlson
Contributing Editor
Former Israeli Prime Minister Ehud Barak and current PM Benjamin Netanyahu believe that blockchain is a potentially a game-changing technology. They expect it to disrupt big sectors of the economy — healthcare, banking, insurance, and cybersecurity among them.… Continue Reading
Since the start of 2018, companies and agencies have disclosed 19 new FCPA-related investigations.
Of the newly disclosed investigations, five have been closed, either by enforcement actions or declinations.
Fourteen of the new investigations remain open and apparently active.… Continue Reading
The agency in charge of granting licenses to defense exporters will start to require KYC, blacklist, and sanctions searches to applications for marketing and export licenses. This move is meant to strengthen control by Israeli authorities over marketing and export of military goods, which sometimes allegedly find their way into dubious hands.… Continue Reading
Any company marketing medicine or equipment to the Israeli healthcare system (hospitals and health patient funds) needs to meet new compliance-related regulations by setting internal procedures, training employees and third parties, and improving the allocation of marketing and R&D resources when carrying out business in Israel. … Continue Reading
Elbit Imaging LTD. agreed Friday to pay $500,000 to settle violations of the FCPA books and records and the internal controls provisions.
Israel-based Elbit and its subsidiary, Plaza Centers NV, paid millions of dollars to third-party offshore consultants and a sales agent “for services,” without knowing if the services were ever provided.… Continue Reading
The press in Israel reported this week that Aeronautics Ltd., one of the largest military drone manufactures in Israel, is being investigated for suspected bribery of a foreign public official.
If confirmed, the investigation into foreign bribery offenses would be the fourth in Israel.… Continue Reading
Beny Steinmetz was detained Monday in Israel for a second time for questioning in connection with bribery of high ranking foreign officials in Guinea.
The police action was part of a joint investigation by the Israeli Police and authorities from Switzerland, the United States and Romania.… Continue Reading
Yesterday I participated as a panelist at a roundtable on the “Increase in the Enforcement of the Foreign Bribery Statue in Israel,” part of the Globes Newspaper’s Capital Markets Conference.
As seems to always be the case with anti-corruption matters, on the day of the conference there were new anti-corruption headlines.… Continue Reading
Teva Pharmaceuticals Industries Ltd. agreed Thursday with the DOJ and SEC to resolve FCPA violations through a deferred prosecution agreement and total payments of $519 million.
The $519 million settlement will rank fourth on our list of the ten biggest FCPA cases.… Continue Reading
Israel’s enforcement of its foreign bribery statute took years to get off the ground but it’s now going full speed ahead.
Last week we witnessed Israel’s first conviction under its foreign bribery statues that was recorded in the NIP case, which I reported here in November.… Continue Reading
Authorities in Israel detained billionaire Beny Steinmetz for questioning about money laundering in connection with bribes allegedly paid to officials in Guinea for mining rights.
A spokesperson for Steinmetz’s company, BSG Resources, reportedly confirmed Monday that Steinmetz had been detained for questioning, Reuters said.… Continue Reading
A Los Angeles businessman pleaded guilty Monday to using undeclared bank accounts at Bank Leumi and other Israeli banks to hide $21 million and avoid paying U.S. taxes.
Masud Sarshar owned and operated Apparel Limited, Inc..… Continue Reading