FCPAméricas Blog
No Honor Among Thieves: Another reason not to bribe
11.08.2013
In the SEC’s action against employees of Direct Access Partners for a bribery scheme involving Venezuela’s Banco de Desarrollo Economico y Social (BANDES), described here, the SEC proclaims that there is “No Honor Among Thieves.” One of the facts alleged in that case is that the U.S. participants falsified the amounts of their fraudulent fees in their reports to a Venezuelan official, thereby deceiving the person to whom they we... Read more
FCPA Meets AML (Part 2: How AML violations show up in FCPA cases)
11.05.2013
The DOJ is increasingly charging anti-money laundering (AML) violations in the context of FCPA violations. But AML laws are complex, and outside the scope of many FCPA compliance officers. How do AML problems arise in the FCPA context? Given this enforcement focus, and the significant penalties that can result from AML violations (as discussed in Part 1), FCPA compliance officials should have a working knowledge of how such violations can occur in the FCPA context.
Criminal Anti-Money Laundering Prohibitions.
When AML violations are charged in the context of FCPA cases, they generally allege criminal violations of the Money Laundering Control Act of 1986 (the “MLCA”). That Act has two parts – codified as 18 USC sections 1956 and 1957.
Section 1956 prohibits, in simplified terms:
conducting a financial transaction involving funds generated by... Read moreHow Brazil Is Fighting Corruption
11.01.2013
The Brazilian government has been closing ranks against corruption using different tools. Some of them can serve as examples of possible measures to be taken by other countries in the region. This post describes some of the main measures that have been taken by the Brazilian government to fight corruption.
Increased enforcement of anti-bribery laws. Brazil has increased its enforcement of anti-corruption laws. According to local media, between 2008 and 2012, the number of individuals convicted for active and passive corruption and related crime has increased 133%. That increase counts only final judicial decisions and is 7 times higher than the increase of the incarcerated population in the same period. Currently, there are 2,703 individuals in Brazil serving prison for corruption and ... Read more
