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
Last month the UK Privy Council delivered an important decision on the extent to which a bank is obliged to make inquiries into the underlying commercial purpose of offshore financial arrangements.… Continue Reading
A unit of Alcoa agreed to plead guilty Thursday in the Western District of Pennsylvania to one count of violating the anti-bribery provisions of the FCPA with a 2004 corrupt transaction.… Continue Reading
The U.S. District Court for the Southern District of New York has authorized the IRS to issue summonses requiring five banks to produce records relating to the U.S. accounts they hold at certain institutions located abroad.… Continue Reading
The Wall Street Journal reported yesterday (here) that the Justice Department is “investigating payments that Bahraini prosecutors allege were made by units of Japanese commodities-trading giant Sojitz Group to employees of an aluminum producer in Bahrain.”… Continue Reading
No corporations and just a few individuals have fought Foreign Corrupt Practices Act charges in court, so only a handful of people have ever seen an FCPA defense up close. But for the first time, we have a chance to follow not one but three pending prosecutions — in U.S.v.… Continue Reading
[Updated and Corrected] It was a corporation that tolerated fraud, deceit and concealment. There were slush funds used to bribe public officials. There were phony contracts and fake invoices to cover up the corruption, and there was a boardroom that knew for years what was happening but feigned ignorance.… Continue Reading
In July this year, we posted about the U.S. Senate’s investigation into how Swiss bank UBS AG hid around $18 billion for 19,000 Americans that went unreported to the IRS. We mentioned that the Senate’s 115-page report cited a memo from LGT Bank, run by the royal family of Liechtenstein, describing the use of secret offshore accounts for bribery in the U.S.… Continue Reading
The Wall Street Journal’s July 22 Page One story on public corruption in Kazakhstan involving the ruling family is extraordinary. Reporters Glenn Simpson and Susan Schmidt have dug deep, with help from the former son-in-law of the country’s president.… Continue Reading
We’re exercising our Friday liberty to post a story that’s not about the Foreign Corrupt Practices Act — at least not yet. It’s about a world-class financial institution — a market leader with 80,000 employees in 50 countries, the heavyweight champ of global wealth management — that allowed its sales force to run wild and in the process trample numerous U.S.… Continue Reading