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FCPA Blog Daily News

Entries in Due Diligence (73)


International Franchising and the FCPA (Part Three): Best Practices

This post continues from Part One: Vicarious Liability and Part Two: A Flock of Foreign Officials.

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Three steps to better compliance in 2015

It's the time of year for compliance planning and scheduling. Here are three steps to consider to assure that your organization is meeting its FCPA compliance obligations during 2015.

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Former MoneyGram compliance chief penalized $1 million for ‘willful inaction’

The Treasury Department's Financial Crimes Enforcement Network (FinCEN) imposed a $1 million civil penalty against the former chief compliance officer for MoneyGram International Inc.

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Memo to law schools: The world needs compliance officers

Image courtesy of New England Law | BostonLaw-related employment for grads from American law schools isn't exactly robust. In 2013, the ABA Journal said, only 57 percent of the that year's JDs had full-time bar-passage-required jobs. At the same time, the world seems to have an insatiable appetite for compliance officers. That sounds like an opportunity.

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StanChart pays $300 million for ‘second time around’ AML failures

The New York Department of Financial Services said Tuesday that Standard Chartered Bank will pay $300 million for "failures to remediate anti-money laundering compliance problems" required by the bank's 2012 settlement with the same regulator.

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Kroll on cyber security: Compliance officers should be like . . . Captain Kirk

FCPA Blog sponsor Kroll released a survey showing that 75% of compliance officers aren't involved in managing cyber security risk.

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Survey shows corporate commitment to anti-corruption programs

Dow Jones Risk & Compliance conducted an online survey in February, asking 383 compliance professionals around the world to evaluate their anti-corruption compliance programs and name their top risk concerns.

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Conflict minerals: Due diligence, disclosure lessons for compliance (Part 1)

The four conflict minerals -- tantalum, tin, tungsten and goldThis post is the first in a series of three on the topic of conflict minerals. The first examines the origins of the reporting requirement, and the following two will explore what constitutes sufficient due diligence when conducting an investigation of a company and its supply chain.

Section 1502 of the Dodd-Frank Act of 2010 requires companies using conflict minerals in their products to disclose the source of such minerals, hoping to dissuade companies from continuing to engage in trade that supports these human rights abuses.

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Conflict Minerals Poll Result: 98% would cease or suspend business with supplier

The Ethical Alliance polled nearly 10,000 general counsel, senior compliance and legal professionals as to what would their course of action be if the Kaloti Group was part of their supply chain.

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Fed faults Commerzbank foreign account controls

The U.S. Federal Reserve said last week it was requiring Commerzbank AG in Germany and its New York branch to improve compliance with federal and state anti-money laundering (AML) laws.

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