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Five Key Trends in ABAC Enforcement Demand A Strategic Response From Companies

In the rapidly evolving anti-bribery and anti-corruption (ABAC) enforcement environment, boards and senior managers need a strategic approach to tackling this issue more than ever before. The volume of enforcement activity continues to be high. Investigations and prosecutions in the US remain robust in spite of initial concerns about the impact of Trump administration policies, and global monetary sanctions imposed by the world’s regulators on entity groups in US Foreign Corrupt Practices Act (FCPA)-related investigations totaled $3.2 billion in 2018, the second highest total over the past decade.

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Topics: FCPA, Anti-Bribery and Anti-Corruption, SEC, DOJ, uk sfo, sanctions, US Department of Justice, ABAC enforcement, ABAC compliance, World Bank

OFAC Settlement Agreement  Highlights the Importance of Knowing Your 4th Parties

Eyelashes expose weaknesses in 4th party and supplier due diligence.

Today the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC)  announced a settlement of $996,080 with e.l.f. Cosmetics, Inc. (“ELF”) of Oakland, California. ELF has agreed to settle its potential civil liability for 156 apparent violations of the North Korea Sanctions Regulations, 31 C.F.R. part 510 (NKSR).

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Topics: third party risk management, tprm, reputation risk, supply chain risk, 4th party risk, sanctions, supplier due dilligence