Anti-Bribery Compliance Gaining Steam

September 21, 2017 ABAC, benchmarking, compliance week, survey

The results, revealed in a Sept. 13 webinar, emanate from a survey jointly conducted by Compliance Week and Steele Compliance Solutions that highlight the types of risk mitigation strategies companies are using today and how they are managing, monitoring, and assessing their third-party anti-bribery and anti-corruption (ABAC) programs over time.

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The unrelenting pace of change in today’s regulatory environment continues to generate a seemingly unending, and increasingly onerous, list of ABAC laws and regulations that companies must understand and comply with if they are to avoid attracting the attention of government watchdogs.

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What Investigators Want to Know About Your Program

March 01, 2017 DOJ guidance, FCPA, third-party compliance

Earlier this year, the Fraud Section of the Department of Justice’s (DOJ) Criminal Division surprised compliance officers with guidance on how regulators measure the effectiveness of third-party compliance programs. The release of the Evaluation Corporate Compliance Programs guidance aims to clear up confusion regarding what regulators look for when assessing corporate compliance programs during investigations.

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Assistant Attorney General Leslie R. Caldwell recently delivered a speech to The George Washington University Law School that touted her achievements as head of the Department of Justice Criminal Division.

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Rising Whistleblower Awards

June 07, 2016 ABAC, Whistleblower

In its continued and growing effort in cracking down on corporate corruption, the Securities and Exchange Commission (SEC) has credited whistleblowers as key to its success. And, if recent history is any indication, the agency has no plans of slowing down these efforts.

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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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