Whether we agree with their politics or not, most presidential candidates are a great example of mass communicators, educators, and trainers. They manage to engage millions of people on issues that many would usually consider boring, such as the minutiae of domestic and foreign policies.… Continue Reading
In November, the Department of Justice confirmed the rumors that had circulated all fall about an appointment it was making in its Fraud Section: Hui Chen was selected to occupy the new role of in-house compliance counsel.… Continue Reading
The DOJ and SEC haven’t used the word “scalable” to describe an effective compliance program. But they’ve described scalability when talking about what’s needed.
For example, part of the job of the DOJ’s new compliance counsel is to help “assess a company’s program, as well as test the validity of its claims about its program, such as whether the compliance program truly is thoughtfully designed and sufficiently resourced to address the company’s compliance risks.”
As you look back on the past year, you will surely find some anti-corruption compliance victories — even as there are undoubtedly still areas of needed improvement.
Reports of trainee bankers cheating on internal exams at JP Morgan’s New York office and at Goldman Sachs in London and New York point to the need to prepare for a future in which training and compliance are merged.… Continue Reading
The Federal Deposit Insurance Corporation Wednesday imposed a civil penalty of $140 million against Banamex USA of Century City, California for violations of the Bank Secrecy Act (BSA) and anti-money laundering (AML) laws and regulations.… Continue Reading
Consistent with the DOJ’s Opinion Release 08-02, companies must risk-rank their third parties into high, medium and low risk categories and conduct the appropriate due diligence.
As 85-90% of all cases involve illegal activity conducted by a third party on behalf of an organization, this issue appears to be the biggest risk to multinational organizations.… Continue Reading
Part 1 of this series explained what a fapiao is, and Part 2 outlined the different types of fapiaos in China. Part 3 described common ways that fapiaos are misused for fraud, embezzlement, and corruption.… Continue Reading
Leslie Caldwell, chief of the DOJ’s criminal division, spoke at the Compliance Week Conference in Washington, D.C. Tuesday. After talking about some defenses that don’t work, she described the ten hallmarks of an effective compliance program, and she warned companies to obey all the laws they’re subject to.… Continue Reading
In the world of anti-corruption internal controls, there is no “one-size-fits-all” model. Ideally, design and implementation of such controls should be thoughtful, rigorous and based on a robust and re-performable corruption risk assessment.
There are, of course, a number of sources of high-level guidance available, ranging from the DOJ / SEC FCPA Guidance, the OECD’s Good Practice Guidance on Internal Controls, Ethics, and Compliance, Transparency International’s Business Integrity Toolkit, and the UK Ministry of Justice’s Guidance about procedures to prevent bribery, among others.… Continue Reading
Law-related employment for grads from American law schools isn’t exactly robust. In 2013, the ABA Journal said, only 57 percent of the that year’s JDs had full-time bar-passage-required jobs.… Continue Reading
BBC News mapped out the countries where the most bribes were paid, based on a survey carried out by Transparency International in 95 countries.… Continue Reading