Corporate fraud & corruption

February 2018 | SPECIAL REPORT: CORPORATE FRAUD & CORRUPTION

Financier Worldwide Magazine

February 2018 Issue

The persistent prevalence of corporate fraud and corruption is an uncomfortable reality for those seeking to repair the immense damage wrought by unscrupulous business behaviour. A multidimensional issue, incidents can damage an organisation’s reputation, culture, regulatory standing and even profitability. Therefore, the need for corporates to prevent, detect and respond to fraud and corruption has perhaps never been greater. To enable this, they need to understand the extent and source of the bribery and corruption risks they face and be prepared to take the necessary steps to rid themselves of both the miscreants involved and any stain such activity may leave on an organisations’ reputation.

FORUM: Managing corruption risks in M&A pre- and post-transaction

FW moderates a discussion on managing corruption risks in M&A pre- and post-transaction between Rodrigo S. Grion at GE Healthcare, Adrian D. Mebane at The Hershey Company, Frank Vormstein at Siemens AG and Martin J. Weinstein at Willkie Farr & Gallagher LLP.

FCPA risks faced by financial institutions

Sullivan & Cromwell In his 29 November 2017 remarks at the 34th Annual International Conference on the Foreign Corrupt Practices Act (FCPA), deputy attorney general (DAG) Rod Rosenstein advised that “[c]ompanies can protect themselves by exercising...

The UK’s Bribery Act – its scope, its use so far and how businesses can avoid falling foul of it

Rahman Ravelli This decade has seen a significant legal change in the prosecution of bribery in the UK, namely the Bribery Act 2010. The Act should be seen as the result of a decades-long attempt to reform the law regarding bribery and corruption. It replaced...

The Criminal Finance Act 2017 – important factors which cannot be ignored

Richard Nelson LLP Since the Criminal Finance Act 2017 came into effect on 30 September 2017, there has been considerable discussion about the new corporate offence of failure to prevent the facilitation of tax evasion and the potential consequences...

Working in partnership: a new approach to economic crime

Mishcon de Reya LLP Despite a plethora of new legislative provisions, the criminal justice system continues to confront a dangerous enforcement deficit when it comes to economic crime. While fraud is on the rise, public funding to tackle it is being squeezed. These realities...

Defeating dissipation: recent legal developments

PCB Litigation LLP When disputes arise and lead to proceedings, the first instinct might often be to focus on securing a favourable judgment. However, that is often only half of the story. There is no guarantee that a judgment debtor will pay, and in the fraud arena...

SFO v ENRC: impact on internal investigations

Travers Smith LLP Following a slew of recent cases on the subject of legal professional privilege, organisations have been finding it increasingly difficult to protect sensitive documents from disclosure to their opponents in litigation. Last year’s High Court decision...

Anti-corruption: developments in enforcement policy in the UK and the US

Brown Rudnick This article provides an update on significant enforcement developments in the UK and the US regarding corruption and other financial crimes. In recent years, events such as the FIFA corruption scandal and the Panama Papers leak have prompted...

The minefield of cross-border investigations

Fox Williams The upsurge in cross-border investigations, notably in a succession of recent market manipulation cases, has given rise to unprecedented levels of cooperation between UK and foreign law enforcement agencies. As indicated by then...

New confiscation rules in Germany – a challenge for compliance

Noerr LLP Crimes must not pay off. This rationale governs the new confiscation rules in Germany that have been in force since 1 July 2017. The new rules strengthen the principle that everything that has been obtained by the perpetrator or a third party...

Who wants to be a compliance officer?

DLA Piper Spain In 2010, Spain joined a group of countries, including the UK, France, Belgium, Portugal and others, where legal entities can be found criminally liable. Given the disruption of the classical legal schemes generated by this new legal framework and the...

Q&A: False claims investigations and enforcement

FW moderates a discussion on false claims investigations and enforcement between Sam Nazzaro at BDO, Maura Kathleen Monaghan at Debevoise & Plimpton, and Jonathan M. Phillips at Gibson, Dunn & Crutcher LLP.

CONTRIBUTORS

BDO

Brown Rudnick

Debevoise & Plimpton

DLA Piper Spain

Fox Williams

GE Healthcare

Gibson, Dunn & Crutcher LLP

Mishcon de Reya LLP

Noerr LLP

PCB Litigation LLP

Rahman Ravelli