As I recently wrote for the Accelus Regulatory Intelligence subscription service, bold measures are required of multinational firms to stay in compliance with the FCPA. Firms need to know not only what all of their divisions and employees are doing, but what their subsidiaries and vendors are doing.
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Monday's $772 million DOJ enforcement action against Alstom SA and several subsidiaries landed second on our list of the top ten FCPA cases of all time.
Leslie Caldwell, chief of the DOJ's criminal division, talked at last week's Annual Ethics and Compliance Conference in Atlanta. She covered the ten hallmarks of an effective compliance program and cooperation with the DOJ in FCPA and other white-collar investigations. Her examples of good and bad corporate behavior came from real life.
The UK Serious Fraud Office said Friday that its £3 million ($5 million) confiscation order against former Alba chief Bruce Hall has been fully paid.
An Australian executive who once served as CEO of state-owned Aluminium Bahrain B.S.C. (Alba) was jailed Tuesday in the UK for 16 months.
Ernst & Young just issued its 13th Global Fraud Survey. It shows regulators aggressively pursuing financial fraud and bribery cases, and expressing increasing concern over cyber risks.