In a recent speech, on March 7, 2024, Deputy Attorney General Monaco announced that DOJ would be implementing in the next 90 days a new whistleblower program to reward reporting of criminal misconduct at both public and private companies.  In particular DOJ will encourage reporting of potential violations of the Foreign Corrupt Practices Act ("FCPA") and the recently-enacted Foreign Extortion Prevention Act ("FEPA"). AAG Monaco noted that DOJ will be particularly interested in "foreign corruption cases" involving "non-issuers and See more +

In a recent speech, on March 7, 2024, Deputy Attorney General Monaco announced that DOJ would be implementing in the next 90 days a new whistleblower program to reward reporting of criminal misconduct at both public and private companies.  In particular DOJ will encourage reporting of potential violations of the Foreign Corrupt Practices Act ("FCPA") and the recently-enacted Foreign Extortion Prevention Act ("FEPA"). AAG Monaco noted that DOJ will be particularly interested in "foreign corruption cases" involving "non-issuers and violations of the recently enacted FEPA," along with criminal abuses of the United States financial system and domestic corruption cases.

DAG Monaco also reiterated the importance of voluntary self-disclosures. DOJ employs a "mix of carrots and sticks" to incentivize companies to build stronger compliance programs that proactively mitigate risks and disclose misconduct to DOJ when appropriate. DAG Monaco underscored the fact that a corporate resolution "will always be more favorable with voluntary self-disclosure."

In this Episode, Michael Volkov discusses DOJ new initiatives on whistleblowing and encouraging voluntary self-disclosures. See less -