The UK’s just-enacted corporate crime legislation is a step in the right direction but failed to address a wide range of risks and challenges. Nonetheless, in the current climate, more legislation will soon follow. In light of such developments, global...
The SEC's FCPA settlement with South Korean telecom KT Corporation was relatively light, thanks in part to the latter's cooperation. But the company's missteps remain a cautionary tale for ethics and compliance. Here's where KT Corporation ignored red flags and...
In 1992, Mark Whitacre, a divisional president at ADM, began to cooperate with the FBI in their investigation into alleged price-fixing at the company. Before and during this period, he also embezzled millions from his employer. Whitacre provides multiple cautionary...
Though the Biden administration's first year kept enforcements light, broad shifts and specific measures taken by regulators are set to affect the health care and life sciences industry through 2022. The following lays out enforcements companies will likely experience over...
The Biden Administration and DOJ intend to pursue cyber fraud through the False Claims Act (FCA), with an emphasis on whistleblower reporting. The implications could devastating for unsuspecting health care compliance teams and lead to multiple exposures to enforcement.
Results of a recent Ethics and Compliance Initiative (ECI) survey indicate that a majority of CCOs can’t be sure whether DOJ follows its own guidance when accounting for self-reporting and other incentivized action in the penalties it hands down. That...
While the transition to the Biden administration has ushered in many changes, including new policies and initiatives at the U.S. Department of Justice, one thing that remains constant is the DOJ’s reliance on the False Claims Act as a key...
DOJ's latest remarks (via Deputy Attorney General Lisa Monaco) on corporate criminal enforcement carry important implications for compliance teams. Going forward, the department will take a wider view of companies' past wrongdoing, require more detailed information on individuals related to...
2022 will probably be a lot like 2021, only more so. With most key federal positions filled, the Biden Administration is in a position to ramp up enforcement over the next twelve months. A rundown of top white-collar crime enforcement...
After repeated investigations that have laid bare the struggle governments have in identifying the ultimate beneficial owners implicated in money laundering and other fraud, it's clear there isn't a one-size-fits-all solution. While governments continue adopting new rules meant to address...
The experience of fraud can be so jarring that it frequently causes individuals and businesses to completely change their financial practices. In three out of ten cases of fraud, according to one study, a customer will leave their financial institution.
Automated analysis of big data and new sentiment processing are opening doors for fraud investigators to home in on wrongdoing faster and with more discretion. Though still not a silver bullet, these pattern identification techniques have brought investigation techniques to...
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