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Corporate Prosecutions: Individual Liability is Essential
September 14th, 2015
Last week, the U.S. Department of Justice (DOJ) unveiled new guidance to federal prosecutors about bringing criminal cases against individuals in instances of corporate wrongdoing.  The memo states that if a corporation wishes to resolve its own criminal charges and receive any credit for cooperation, it must provide the DOJ with all relevant facts relating
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The FIFA Scandal: Secrecy Aids Corruption Again
May 27th, 2015
Early this morning in Switzerland, some of the most influential officials in the worldwide soccer body, FIFA, were probably waking up or getting ready for breakfast. What happened next was, most certainly, unannounced and unexpected.
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The U.S. Needs Parity on Anti-Money Laundering and Beneficial Ownership
January 10th, 2014
Last week, the Wall Street Journal reported that the U.S. Justice Department has indicated it will step up its enforcement of anti-money laundering (AML) rules among financial institutions and boost its efforts to safeguard U.S. banks from illicit financial flows. As the article points out, this comes as no surprise to those of us who have watched this issue—prosecutors in the United States have been bringing more cases against banks using the Banking Secrecy Act and DOJ has aggressively pursued both domestic and international banks for deficient money laundering controls. The DOJ’s efforts are laudable, but unfortunately they expose a...
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FCPA Regulation by Prosecution and the World's New Norms
October 25th, 2012
In late 1975 a Securities and Exchange Commission investigation into Lockheed Corporation revealed that the aircraft manufacturer had paid at least $22 million in bribes to foreign government officials and political organizations. At the time, this was not illegal and it resulted in a scandal, investigation, and a revelation that hundreds of other businesses were routinely involved in this practice. In response to the Lockheed scandal, Congress enacted the Foreign Corrupt Practice Act (FCPA) in an effort to “bring a halt to the bribery of foreign officials and to restore public confidence in the integrity of the American business...
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