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2020 was a most significant year in anti-corruption enforcement, from Airbus SE to Goldman Sachs Group, Inc., and numerous matters in between. Further, there were two significant pieces of information from the US government in the form of the 2020 Update to the Evaluation of Corporate Compliance Programs and the FCPA Resource Guide, 2
nd edition. In the anti-money laundering (AML) arena, we had even bigger news the last week of the year with the passage of the National Defense Authorization Act (NDAA) and, as part of that legislation, the enactment the Anti-Money Laundering Act of 2020 (AMLA) into law. The AMLA is the most comprehensive set of reforms to AML laws in the United States since the USA PATRIOT Act was passed in 2001, in response to 9/11.
To embed, copy and paste the code into your website or blog:
2020 was a most significant year in anti-corruption enforcement; from Airbus to Goldman Sachs and numerous matters in between. Further there were two significant pieces of information from the US government in the form of the 2020 Update to the Evaluation of Corporate Compliance Programs and FCPA Resource Guide 2
nd edition. In the anti-money laundering (AML) arena, we had even bigger news the last week of the year with the passage of the National Defense Authorization Act and as part of that legislation, the enactment the Anti-Money Laundering Act of 2020 (“AMLA”) into law. The AMLA is the most comprehensive set of reforms to the anti-money laundering laws in the United States since the USA PATRIOT Act was passed in 2001, in response to 9/11.
To embed, copy and paste the code into your website or blog:
2020 was a most significant year in anti-corruption enforcement; from Airbus to Goldman Sachs and numerous matters in between. Further there were two significant pieces of information from the US government in the form of the 2020 Update to the Evaluation of Corporate Compliance Programs and FCPA Resource Guide 2
nd edition. In the anti-money laundering (AML) arena, we had even bigger news the last week of the year with the passage of the National Defense Authorization Act and as part of that legislation, the enactment the Anti-Money Laundering Act of 2020 (“AMLA”) into law. The AMLA is the most comprehensive set of reforms to the anti-money laundering laws in the United States since the USA PATRIOT Act was passed in 2001, in response to 9/11.
2020 was a very significant year for every compliance practitioner and compliance program. Not only was it the year with the single highest anti-bribery fine ever but there were.
Thursday, December 17, 2020
Introduction
A robust compliance program within a corporation is a critical component of business operations. It is responsible for detecting, preventing, remedying, and monitoring misconduct. Maintaining an effective compliance program serves as ample evidence that the corporation is in full compliance with the law and intends to follow it. A compliance program imposes anti-corruption standards that identifies, prevents, detects, and corrects risks. Its objective is to promote an organizational culture that promotes anti-corruption and encourages the internal reporting of misconduct for prompt resolution. It can also protect a corporation’s reputation through its strong anti-corruption and anti-bribery stance and emphasis on ethics.