AML Enforcement and Sanctions

AML enforcement often includes sanctions violations.  The Office of Foreign Asset Control (OFAC) is… [continue]

AML Enforcement and Sanctions AML Enforcement and Sanctions

A Close Look at Internal Controls

Companies with ineffective internal controls face risks of embezzlement and self-dealing by employees,… [continue]

A Close Look at Internal Controls A Close Look at Internal Controls

To Be a Criminal, You Have to Act Like a Criminal

Lawyers, compliance professionals and senior management at companies can be obsessive when it comes to… [continue]

To Be a Criminal, You Have to Act Like a Criminal To Be a Criminal, You Have to Act Like a Criminal

Paper Tigers and Paper Compliance

The FCPA Guidance is an extraordinary document filled with excellent ideas, defined safe harbors and… [continue]

Paper Tigers and Paper Compliance Paper Tigers and Paper Compliance

AML Enforcement Jitters and Due Diligence

The Justice Department and the financial regulatory agencies have sent a strong message of enforcement,… [continue]

AML Enforcement Jitters and Due Diligence AML Enforcement Jitters and Due Diligence
Latest Posts

AML Enforcement and Sanctions

AML DD

AML enforcement often includes sanctions violations.  The Office of Foreign Asset Control (OFAC) is responsible for regulating and enforcing the sanctions regime. OFAC has played a critical role in ramping up AML enforcement against major financial institutions.  Major enforcement actions have been built on OFAC violations. HSBC Holdings paid OFAC … Continue Reading…

A Close Look at Internal Controls

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Companies with ineffective internal controls face risks of embezzlement and self-dealing by employees, bribery, export control violations and other possible legal violations.  The payment of foreign bribes often occurs in companies that have weak internal controls. A company’s internal controls have to provide reasonable assurances regarding the reliability of the … Continue Reading…

To Be a Criminal, You Have to Act Like a Criminal

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Lawyers, compliance professionals and senior management at companies can be obsessive when it comes to the threat of criminal liability.  Please do not get me wrong, I am not minimizing the risk of criminal prosecution, nor I am suggesting that everyone go out and start paying bribes overseas. That being … Continue Reading…

Paper Tigers and Paper Compliance

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The FCPA Guidance is an extraordinary document filled with excellent ideas, defined safe harbors and important enforcement and compliance principles.   It is a lesson in good government, and a testament to an instructive process for government and business communications and interaction. The hypothetical scenarios and basic advice set out in … Continue Reading…

AML Enforcement Jitters and Due Diligence

AML Sanctions7

The Justice Department and the financial regulatory agencies have sent a strong message of enforcement, suggesting that financial institutions are not adequately implementing AML compliance controls. The message was heard all the way up to corporate boardrooms.  The question now is what is the industry going to do to improve … Continue Reading…

Corruption Continues to Eat Away at India

India

At first glance, India is a country of incredible economic opportunity.  India’s GDP is slated to continue to grow five (5) percent each year.  It has the third biggest economy in the world, below the US and China. India’s ranking is 92nd in the Transparency International’s Corruption Perception Index.  Foreign … Continue Reading…

Do Compliance Professionals Have to Be Lawyers?

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As compliance professionals enjoy the rise of their profession, lawyers are sensing a decline in importance.  I am hearing from compliance professionals a new and disturbing trend – companies are requiring compliance professionals to be trained attorneys. Since I am a lawyer, I know I should just repeat the party … Continue Reading…

Webinar: Tailoring Your Anti-Corruption Program to Your Risk Assessment

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Webinar: April 15, 2014, 12 Noon EST Tailoring Your Anti-Corruption Program to Your Risk Assessment  Sign Up Here Department of Justice and the SEC have emphasized the importance of designing an anti-corruption compliance program based on a company’s risk assessment. An effective program has to be tailored to the specific … Continue Reading…

Digging Down on Joint Ventures and FCPA Compliance

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The FCPA is a broad statute.  As written, it covers a number of situations, and creates twists and turns in analysis. One of the more challenging areas to navigate is the issue of joint ventures. When you bring two companies together to operate jointly, there are a number of difficult … Continue Reading…

The Economic Crime Triad: Companies Facing Major Risks

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FCPA practitioners can suffer from myopia – a narrow focus on FCPA risks.  The FCPA does not apply to company actors who take bribes in exchange for awarding contracts to companies.  That situation is commonly referred to as “kickbacks.” Taking a step back, companies face a major triad of economic … Continue Reading…