TRACE: U S bribery enforcement declined in 2020 complianceweek.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from complianceweek.com Daily Mail and Mail on Sunday newspapers.
To print this article, all you need is to be registered or login on Mondaq.com.
Soon after Congress passed the Coronavirus Aid, Relief, and
Economic Security Act ( CARES Act ) in March 2020, the
Criminal Division of the U.S. Department of Justice (DOJ) moved
quickly to address potential COVID-19 related fraud. One area of
early focus was the Paycheck Protection Program (PPP), a program
under the CARES Act that provides loans to small businesses to help
pay employees. The Fraud Section set up a team devoted to PPP fraud
and, within two months of the passage of the CARES Act, had charged
US seeks to seize 280 cryptocurrency accounts tied to North Korean hacks defenceweb.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from defenceweb.co.za Daily Mail and Mail on Sunday newspapers.
By Jaclyn Jaeger2020-12-10T13:30:00+00:00
Major bribery scandals, record enforcement actions, unprecedented cross-border coordination and prosecutions all this amid a global pandemic made 2020 (for better or worse) an unforgettable year for the Foreign Corrupt Practices Act (FCPA). Expect more of the same in 2021.
“It’s a record year as far as our resolutions,” said Christopher Cestaro, chief of the FCPA Unit in the Department of Justice’s Fraud Section, speaking at an Oct. 29 anti-bribery virtual forum sponsored by TRACE International. Cestaro specifically cited settlements with Goldman Sachs and Airbus as “notable because of the magnitude of the bribery schemes and the record penalties.”