Raytheon’s comprehensive settlement included FCPA violations and failures to make required disclosures to the Defense Department concerning fees and commissions. This portion of the settlement was filed in the Eastern...more
11/1/2024
/ Bribery ,
Compliance ,
Criminal Prosecution ,
Defense Sector ,
Deferred Prosecution Agreements ,
Department of Defense (DOD) ,
Enforcement Actions ,
False Claims Act (FCA) ,
Federal Contractors ,
Foreign Corrupt Practices Act (FCPA) ,
Fraud ,
ITAR ,
Raytheon ,
Settlement ,
Statutory Violations
Raytheon Company (Raytheon) — a subsidiary of defense contractor, RTX (formerly known as Raytheon Technologies Corporation) — agreed to pay over $950 million to resolve the Justice Department’s investigations into: (i) a...more
10/29/2024
/ Arms Export Control Act ,
Bribery ,
Compliance ,
Criminal Prosecution ,
Defense Sector ,
Department of Defense (DOD) ,
Department of Justice (DOJ) ,
Enforcement Actions ,
False Claims Act (FCA) ,
Federal Contractors ,
Foreign Corrupt Practices Act (FCPA) ,
Fraud ,
ITAR ,
Raytheon ,
Settlement ,
Statutory Violations
The SEC notched another FCPA settlement, continuing its steady pursuit and resolution of FCPA cases. In the meantime, the Justice Department has been silent in the FCPA enforcement arena. In its latest settlement, Moog,...more
How prepared is your organization to handle the evolving landscape of sanctions compliance?
In this episode of Corruption, Crime and Compliance, Michael Volkov dives into critical sanctions compliance cases and their...more
The SEC's recent settlement with Deere & Company for $9.9 million for FCPA violations is another textbook example of bribery schemes, which revealed the absence of a culture of compliance, and the circumvention of basic...more
We are all familiar with — over and over — third-party risks and FCPA risks. It is drilled in our collective heads — third-party risks and bribery. Legal and compliance professionals have to learn and understand the ins...more
The Deere case is an important reminder for companies to devote proper attention to ensuring robust integration planning for acquired companies. DOJ has provided important guidance on acquisition practices and the need to...more
The SEC’s recent settlement with Deere & Company for $9.9 million for FCPA violations is another textbook example of bribery schemes, which revealed the absence of a culture of compliance, and the circumvention of basic...more
The Justice Department is encouraging companies to voluntarily disclose criminal violations — “Come in and confess” and DOJ offers promises of a declination. But even a declination comes with a requirement — the company has...more
9/4/2024
/ Angola ,
Bribery ,
Compliance ,
Corruption ,
Criminal Investigations ,
Department of Justice (DOJ) ,
Disgorgement ,
Enforcement Actions ,
Fines ,
Foreign Corrupt Practices Act (FCPA) ,
Popular ,
Voluntary Disclosure ,
White Collar Crimes
Healthcare fraud is an ever-growing constant in our economy. It is a battle that presents new and exponential challenges. The U.S. Department of Justice, the HHS-Office of Inspector general and State Attorneys’ General all...more
7/23/2024
/ Bribery ,
Enforcement Actions ,
Fraud and Abuse ,
Health Care Providers ,
Health Insurance ,
Healthcare Fraud ,
Kickbacks ,
Medicare ,
Medicare Fraud ,
Pharmaceutical Industry ,
Physicians ,
Prescription Drugs
In a pair of rulings issued near the end of the last Term, Fischer v. United States and Snyder v. United States, the Supreme Court continued to cut back on the Justice Department’s interpretation and enforcement of criminal...more
7/11/2024
/ Bribery ,
Criminal Liability ,
Department of Justice (DOJ) ,
Enforcement ,
Fischer v United States ,
Gifts ,
Illegal Gratuities ,
Public Officials ,
SCOTUS ,
Snyder v United States ,
Statutory Interpretation
Sorry to start a four-part series with a reference to music from our long-ago past. The Four Tops sang the “Same Old Song, with a Different Meaning” (released in 1965). So, how does that relate to third-party risks? Well,...more
5/21/2024
/ Bribery ,
Compliance ,
Department of Justice (DOJ) ,
Economic Sanctions ,
Foreign Corrupt Practices Act (FCPA) ,
Foreign Policy ,
Foreign Relations ,
Office of Foreign Assets Control (OFAC) ,
Risk Management ,
Third-Party Risk ,
White Collar Crimes
The Justice Department is rightly trumpeting its successful sweep of the commodities trading industry. DOJ’s success is reflected in its six separate corporate resolutions and 20 individual convictions, resulting in over...more
Trafigura’s bribery scheme resembles the same schemes implemented by its significant competitors — Vitol, Glencore, Gunvor. At the core of the conduct, Petrobras and Brazilian government officials collected bribes in...more
4/10/2024
/ Brazil ,
Bribery ,
Compliance ,
Corruption ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Foreign Corrupt Practices Act (FCPA) ,
Oil & Gas ,
Petrobras ,
White Collar Crimes
On the heels of the Gunvor FCPA settlement for $661 million, DOJ announced its settlement with Trafigura, the latest commodities trading company to fall under DOJ’s FCPA Sweep against the industry. Trafigura joined the list...more
4/9/2024
/ Bribery ,
Commodities ,
Compliance ,
Corporate Counsel ,
Corruption ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Foreign Corrupt Practices Act (FCPA) ,
Guilty Pleas ,
White Collar Crimes
DOJ has been on a public relations campaign to push a simple message for corporations: if companies learn of misconduct, companies should disclose such misconduct to earn valuable benefits. The quintessential question...more
The Department of Justice’s blockbuster FCPA settlement with Gunvor restores the credibility of DOJ’s pronouncements of DOJ’s commitment to aggressive FCPA enforcement. While I have questioned DOJ’s commitment to its...more
3/21/2024
/ Anti-Corruption ,
Bribery ,
Civil Monetary Penalty ,
Compliance ,
Corruption ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Foreign Corrupt Practices Act (FCPA) ,
Settlement ,
White Collar Crimes
Gunvor’s bribery scheme is not very surprising nor ingenious. After all, a number of energy trading companies have been prosecuted for bribery over the years, including Glencore, Vitol, Freepoint. Numerous individuals have...more
You have to give the Justice Department credit — after two slow enforcement years, DOJ is starting off 2024 with a relative “bang;” first, DOJ reached a large settlement with SAP in January, and now, DOJ has reached a...more
3/19/2024
/ Bribery ,
Commodities Traders ,
Corporate Misconduct ,
Corruption ,
Criminal Conspiracy ,
Criminal Penalties ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Foreign Corrupt Practices Act (FCPA) ,
Guilty Pleas ,
Money Laundering ,
Statutory Violations ,
White Collar Crimes
A careful reading of the DOJ and SEC settlement documents for the SAP case will puzzle you. I know I am scratching my head trying to make sense of the whole picture here. There are a number of significant indicators of a...more
When it comes to FCPA enforcement and expectations, DOJ has moved the goalposts. Some would argue that DOJ has been consistent all along. The truth, like most issues, lies somewhere between the extremes....more
1/17/2024
/ Anti-Bribery ,
Anti-Corruption ,
Bribery ,
Compliance ,
Corruption ,
Department of Justice (DOJ) ,
Enforcement Actions ,
FCPA Corporate Enforcement Policy (CEP) ,
Foreign Corrupt Practices Act (FCPA) ,
SAP America Inc. ,
White Collar Crimes
Life is always filled with surprises. Just when we thought 2023 was a “slow” FCPA enforcement year, DOJ and SEC announced a large enforcement action against SAP for approximately $220 million for FCPA violations in South...more
1/16/2024
/ Bribery ,
Compliance ,
Deferred Prosecution Agreements ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Foreign Corrupt Practices Act (FCPA) ,
Popular ,
Sanction Violations ,
SAP America Inc. ,
Securities and Exchange Commission (SEC) ,
White Collar Crimes
The Justice Department’s FCPA enforcement record for 2024 was slow. This trend was unexpected, contrary to my own predictions and of various other prognosticators. It is hard to explain why this slowdown occurred....more
1/12/2024
/ Anti-Bribery ,
Anti-Corruption ,
Bribery ,
CFTC ,
Commodities ,
Compliance ,
Corruption ,
Department of Justice (DOJ) ,
Enforcement Actions ,
FCPA Corporate Enforcement Policy (CEP) ,
Federal Sentencing Guidelines ,
Foreign Corrupt Practices Act (FCPA) ,
Petrobras ,
Settlement ,
White Collar Crimes
While 2023 was a relatively slow year in FCPA enforcement, the DOJ and SEC settlements announced throughout the year set out a list of important ethics and compliance reminders. While these may seem obvious to everyone, I...more
1/11/2024
/ Anti-Corruption ,
Bribery ,
Compliance ,
Corporate Misconduct ,
Corruption ,
Department of Justice (DOJ) ,
Enforcement Actions ,
FCPA Guidance ,
Foreign Corrupt Practices Act (FCPA) ,
Regulatory Violations ,
Securities and Exchange Commission (SEC) ,
White Collar Crimes
The Tysers and Wood FCPA settlements reflect something old and something new in the FCPA enforcement world.
On the old side, at the core of the FCPA violations was the critical role played by the intermediary company....more