Bribery Fraud

News & Analysis as of

Alert: Privy Council rules that 'backwards tracing' can be used to recover bribes

In a landmark ruling the Judicial Committee of the Privy Council (the court of final appeal for the UK overseas territories and Crown dependencies) has, for the first time, allowed the equitable process of tracing to be...more

The World Bank: Lending & Developing without Corruption

The World Bank recently assessed a project relating to the funding of power stations in South Africa. The World Bank’s initial assessment appears to have cascaded from an SEC enforcement action with respect to Hitachi Ltd....more

Foreign Corrupt Practices Act 2015 Update

Despite a decline in enforcement actions by the Securities Exchange Commission (“SEC”) and the Department of Justice (“DOJ”), the first half of 2015 has continued to highlight the relevance and ever-evolving effects of the...more

HorrorFest 2015 Celebration I- The Films of Val Lewton and a Win for the DOJ

Today, October 2, is the first Friday in October so I begin my annual month of Friday HorrorFest Film highlights. This year I wanted to highlight the films of one of the great unknowns of horror films, Val Lewton. Lewton, a...more

Government Fraud and Corruption: Ex-Mayor and Engineer Convicted in Major Municipal Corruption Case in Quebec

On September 15, 2015, the Court of Québec rendered a judgment? in which it found a former mayor and a vice-president of an engineering firm guilty of several criminal offences relating to municipal corruption. These...more

Securities Litigation and Enforcement Newsletter

A CD or not a CD, That is the Question… That the Auditors Should Have Answered - A headline-grabbing SEC enforcement action last week against BDO USA and several of its national partners may lead audit firms to insist on...more

SFO speaks on current issues 2015

David Green has spoken on SFO’s current work and given an update on live issues. He spoke on how SFO conducts cases, and said he expects two deferred prosecution agreements (DPAs) will be completed before the end of 2015. He...more

California Federal Courts Reiterate: Unless Computer Hacked, Computer Fraud and Abuse Act Permits Misuse Of Electronic Information

In United States v. Nosal, 676 F.3d 854 (9th Cir. 2012) (en banc), the court held that the Computer Fraud and Abuse Act, 18 U.S.C. § 1030, prohibits unlawful access to a computer but not unauthorized use of computerized...more

FinCrimes Update - August 2015 Summary, Volume 2, Issue 8


Guatemalan President Resigns

As of yesterday, Alejandro Maldonado Aguirre is the new president of Guatemala, following the abrupt resignation of Otto Perez Molina. Mr. Perez Molina now faces an arrest warrant on charges of corruption for conspiring with...more

Former SAP Exec Pleads Guilty to FCPA Violations

On August 12, 2015, Vincente Garcia (former head of Latin American sales for SAP International, Inc.) pleaded guilty in federal court in San Francisco to violations of the Foreign Corrupt Practices Act (FCPA). In addition to...more

DOJ Appoints Compliance Counsel to Provide Advice in FCPA Investigations

The U.S. Department of Justice (DOJ) is creating a new compliance counsel position in the Criminal Division’s Fraud Section to scrutinize the compliance programs of companies under investigation for possible Foreign Corrupt...more

Reflections on a Sentence: Spooking the City

Tom Hayes emerges from his trial at Southwark Crown Court for Libor manipulation as a very considerable loser, who took some very bad decisions in the course of the SFO investigation and trial (and perhaps deserves his long...more

FinCrimes Update - July 2015 Summary Volume 2, Issue 7

AML/BSA & OFAC: OFAC PROVIDES GUIDANCE TO FINANCIAL INSTITUTIONS TO HELP COMPLY WITH CRIMEA SANCTIONS REGULATIONS - On July 30, OFAC issued a “Crimea Sanctions Advisory,” highlighting certain actions that have been...more

June FCPA Compliance Digest | BONUS: Global Anti-Corruption and Anti-Money Laundering News

I love writing articles where I get to discuss companies making history. PetroTiger has been exonerated from criminal FCPA prosecution by the DOJ. That’s only happened once before, in the case of Morgan Stanley....more

Why Should Americans Care About the FIFA Indictments? Part IV – Corruption is a Global Scourge

Today, I conclude my four-part series on the above question posed to me recently by a colleague. In Part I, I responded that only the US government had the wherewithal and will to do so and that it continued the...more

U.S. Forces FIFA to Face Corruption Charges

Allegations of corruption involving FIFA, the international ruling body for football — more commonly known as soccer in the U.S. — reached a boiling point last week when the U.S. Department of Justice (DOJ) unsealed a...more

This Week In Securities Litigation

Four SEC Commissioners addressed the annual SEC Speaks Conference, reviewing recent agency initiatives and tracing potential paths for the future. The SEC also brought another FCPA action, a misappropriation case and an...more

Canada Lays Corruption and Fraud Charges Against SNC-Lavalin

On February 19, 2015, the RCMP laid corruption and fraud charges against the SNC-Lavalin Group Inc., its division SNC-Lavalin Construction Inc., and its subsidiary SNC-Lavalin International Inc. under section 3(1)(b) of the...more

Top Ten International Anti-Corruption Developments for January 2015

This installment of MoFo’s Top Ten International Anti-Corruption Developments highlights important Department of Justice (DOJ) personnel changes, an increase in government resources being dedicated to FCPA enforcement...more

New UK Sentencing Guidelines - What Does This Mean For Corporates?

The Sentencing Council’s Definitive Guidance for Fraud, Bribery and Money Laundering Offences (the “UK Guidelines”) came into force on 1 October 2014. The UK Guidelines set out a ten step process for sentencing and apply to...more

Fraud and Bribery – They Go Hand in Hand

Compliance officers need to dig into and understand a company’s internal controls. Many compliance officers tend to leave that issue to Internal Auditors – that is a big mistake....more

3 Depressing Conclusions in E&Y’s Global Fraud Report – More Anti-Bribery Training, Internal Controls Required

I just finished reading Ernst & Young’s “Growing Beyond: A Place For Integrity”, the company’s 12th Global Fraud Survey. It’s pretty sobering, but I’m trying to find some glimmers of hope in it. Don’t get me wrong; the...more

Navy Bribery Scandals Highlight the Importance of Enforcing a Code of Conduct

There are a wide range of business opportunities available for supplying, equipping and servicing the U.S. Navy's more than 323,000 active personnel, 290 ships and over 3,700 aircraft around the world. Unfortunately, this...more

D&O Carrier Allowed to Recoup Defense and Indemnity Costs After Employees Plead Guilty to Misconduct

In Protection Strategies, Inc. v. Starr Indemnity & Liability Co., the U.S. District Court for the Eastern District of Virginia allowed an insurer to recoup more than $670,000 in costs paid for the insured first to respond to...more

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