Compliance Communications Blog

 

Officers, Directors and Criminal Fraud

2/11/19:  “In the past, the notion of prosecuting an executive of a multinational corporation residing in a foreign country, especially one on the far side of the world, may have seemed remote.” So begins a Special Report: Corporate Fraud and Corruption in Financier Worldwide Magazine for February 2019. The article points to two examples of how that once-remote notion has been turned on its head.

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FCA
 

Over $2.8 Billion from False Claims Act Cases in 2018

1/2/19: A December 21st press release about the year’s enforcement of the False Claims Act managed to stake out its claim to the page. DOJ recovered more than $2.8 billion in FCA cases in FY 2018. What is interesting in the press release isn’t the total amount recovered but the type of enforcement actions and trends highlighted by that total.

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"Fraud is Corruption is Fraud"

 

8/18/15: A key finding of PWC’s newly released Global Economic Crime Survey states flatly, “… our 14 years of survey data shows that at any given time period, nearly one in three of those surveyed report suffering a significant economic crime event.” Not a pretty picture for global companies, especially since the survey...

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"New Fraud Sentencing Guidelines"

 

5/13/15: There are new sentencing guidelines for fraud cases, becoming effective in November 2015. An article by Randall Eliason published on the Sidebars website explains some of the amendments that will come into play. According to Eliason, several of the amendments focus specifically on the guideline for economic crimes...

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"A Source of Costly Non-Compliance"

 

4/29/15: An article posted on the CEB blog by Will Poats aims an important spotlight on middle managers and costly decisions in areas including corruption, global fraud, anti-trust and data privacy compliance failures. According to Poats post, CEB research of US federal settlements show an average cost...

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