How do corrupt government officials hide billions in illicit payments? Often, they turn to the murky world of offshore banking. However, that may soon change with the release of the Panama Papers, which consist of 11.5 million documents leaked from Mossack Fonseca, a Panama-based law firm that specializes in managing money in offshore accounts.

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DOJ Launches Self Disclosure Program

April 07, 2016 DOJ, FCPA

For companies that are undecided as to whether they should self-disclose the existence of a bribery scheme that violates the Foreign Corrupt Practices Act (FCPA), the U.S. Department of Justice (DOJ) has now provided an incentive in the form of a one-year pilot program. This offers lower fines and the promise of prosecutorial leniency for those companies that voluntarily admit wrongdoing.

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What happens if the Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) believe that an industry sector is rife with bribery and corruption? Many companies within the retail, oil and gas, and pharmaceutical sectors know the answer. They have all recently experienced an “industry sweep”.

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When it comes to soccer, the United States is usually several steps behind the rest of the world. The drafts and matches central to the rhythm of life in many countries have traditionally been an afterthought at best in the U.S. This made it all the more of a shock when it was the United States that put world football’s most powerful officials in handcuffs.

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