TD Bank’s $3 billion settlement included coordinated regulatory settlements with the Federal Reserve Board (“Federal Reserve”), The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”), and the...more
10/17/2024
/ Anti-Money Laundering ,
Bank Secrecy Act ,
BSA/AML ,
Compliance ,
Criminal Prosecution ,
Enforcement Actions ,
Financial Institutions ,
Financial Services Industry ,
FinCEN ,
FRB ,
OCC ,
Settlement ,
Statutory Violations ,
White Collar Crimes
“By making its services convenient for criminals, TD Bank became one,” Attorney General Merrick B. Garland. TD Bank joins the list of dysfunctional companies — add them to Wells Fargo, Wirecard, Volkswagen, General Motors,...more
10/16/2024
/ BSA/AML ,
Compliance ,
Corporate Culture ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Financial Crimes ,
Financial Institutions ,
Financial Transactions ,
Guilty Pleas ,
Money Laundering
In yet another reminder of the scope of Justice Department enforcement powers, and an important demonstration of the risks of non-compliance, the Justice Department and relevant banking agencies announced a $3 billion...more
10/15/2024
/ Anti-Money Laundering ,
Bank Secrecy Act ,
BSA/AML ,
Compliance ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Financial Institutions ,
Financial Services Industry ,
FinCEN ,
FRB ,
Guilty Pleas ,
OCC ,
Popular ,
Statutory Violations ,
White Collar Crimes
How prepared is your company to handle the evolving risks of artificial intelligence and other emerging technologies in its compliance program?
In this episode of Corruption, Crime and Compliance, Michael Volkov delves into...more
The Justice Department’s Antitrust Division has been aggressively pursuing civil enforcement actions. While criminal enforcement of antitrust laws has been depressed, DOJ has found success in pursuing civil and merger...more
10/8/2024
/ Anti-Competitive ,
Antitrust Violations ,
Banks ,
Competition ,
Debit and Credit Card Transactions ,
Debit Cards ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Exclusionary Clauses ,
Fees ,
Merchants ,
Monopolization ,
Visa Inc
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
Global companies face significant risks in their supply chains of compliance with OFAC’s economic sanctions regime. OFAC has emphasized the importance of conducting supply chain risk assessments and audits....more
9/26/2024
/ Audits ,
Compliance ,
Cosmetics ,
Due Diligence ,
Enforcement Actions ,
Goods or Services ,
North Korea ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Sanction Violations ,
Suppliers ,
Supply Chain
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
Federal whistleblowers have been exposing health care fraud for years. The False Claims Act (“FCA”) contains robust whistleblower provisions and protections that reward whistleblowers with financial payouts. The process for...more
9/19/2024
/ Anti-Kickback Statute ,
CVS ,
Department of Justice (DOJ) ,
Enforcement Actions ,
False Claims Act (FCA) ,
Fraud and Abuse ,
Health Care Providers ,
Health Insurance ,
Healthcare Fraud ,
Medicare Advantage ,
Whistleblowers
DOJ is pushing hard for voluntary disclosures and urging companies to take advantage of its Voluntary Disclosure Program. The carrot is significant — a declination in exchange for cooperation, remediation and disgorgement....more
9/5/2024
/ Compliance ,
Corporate Misconduct ,
Department of Justice (DOJ) ,
Disgorgement ,
Enforcement Actions ,
Fines ,
Foreign Corrupt Practices Act (FCPA) ,
Fraud ,
Self-Disclosure Requirements ,
Settlement ,
Voluntary Disclosure ,
White Collar Crimes
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
DOJ’s Antitrust Division has been relatively quiet in prosecuting criminal cartel or bid-rigging cases. Since 2015, the Antitrust Division’s criminal enforcement has fallen from the billions in penalties each year to the...more
8/27/2024
/ Antitrust Division ,
Antitrust Provisions ,
Antitrust Violations ,
Bid Rigging ,
Construction Project ,
Corporate Counsel ,
Criminal Conspiracy ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Indictments ,
Market Allocation Scheme ,
Price-Fixing ,
Public Contracts ,
Sherman Act ,
Statutory Violations
While FCPA enforcement against companies has been relatively quiet this year, despite a strong beginning to the year — the SAP case for $220 million; and the Gunvor case for $661 million — DOJ has been pushing a number of...more
DOJ is feeling the heat. Corporate criminal enforcement numbers are down. in fairness, DOJ has been pushing individual criminal enforcement as an effective deterrent to corporate misconduct. Criminal prosecutions, when done...more
8/20/2024
/ Compliance ,
Corporate Misconduct ,
Corruption ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Federal Pilot Programs ,
Fraud ,
Money Laundering ,
Whistleblower Protection Policies ,
White Collar Crimes
The Boeing 737 MAX case took another dramatic turn. On July 24, 2024, the Department of Justice filed with the United States District Court for the Northern District of Texas a proposed plea agreement with Boeing. The plea...more
Gentiva, the renamed former Kindred at Home, agreed to pay $19.4 million to resolve claims that its predecessor company, Kindred at Home and related companies, violated the False Claims Act by retaining overpayments for...more
8/2/2024
/ Enforcement Actions ,
False Claims Act (FCA) ,
Health Care Providers ,
Healthcare Fraud ,
Home Health Care ,
Hospice ,
Medicaid ,
Medicare ,
Overpayment ,
Qui Tam ,
Settlement Agreements
DOJ and Boeing have entered into a proposed plea agreement that will require judicial scrutiny and determinations of the public interest and the victims’ rights under the Crime Victims’ Rights Act, 18 U.S.C. § 3771 [“CVRA”]. ...more
7/31/2024
/ Airplane Accidents ,
Aviation Industry ,
Boeing ,
Corporate Culture ,
Crime Victims ,
Criminal Prosecution ,
Deferred Prosecution Agreements ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Internal Controls ,
Plea Agreements ,
Safety Standards ,
White Collar Crimes
The Boeing 737 MAX case took another dramatic turn. On July 24, 2024, the Department of Justice filed with the United States District Court for the Northern District of Texas a proposed plea agreement with Boeing. The plea...more
7/30/2024
/ Airplane Accidents ,
Aviation Industry ,
Board of Directors ,
Boeing ,
Compliance Monitoring ,
Deferred Prosecution Agreements ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Plea Agreements ,
Restitution ,
Safety Standards
DaVita is a regular target of government enforcement actions involving fraud and illegal kickbacks. It has an extensive history of violations and settlements....more
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 significant expansion of internal controls enforcement, the SEC announced a $2.1 million settlement with R.R. Donnelley & Sons Co. (“RRD”) for its handling of a 2021 ransomware attack and resulting disclosure failures. ...more
In this new era of aggressive sanctions enforcement, companies have to understand the red lines that define where criminal and civil enforcement risk increase. In contrast to the history of FCPA enforcement, DOJ and OFAC...more
In a recent decision, Securities and Exchange Commission v. Jarkesy, the Supreme Court voted 6-3 to reject the Securities and Exchange Commission’s use of in-house administrative proceedings to adjudicate securities fraud...more
7/2/2024
/ Administrative Authority ,
Administrative Proceedings ,
Civil Monetary Penalty ,
Constitutional Challenges ,
Enforcement Actions ,
SCOTUS ,
SEC v Jarkesy ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Securities Regulation ,
Seventh Amendment