Uptick in Corporate Enforcement Expected
Industry should expect a “surge” in corporate enforcement from the Department of Justice now that officials have had time to transition from the previous administration, particularly in sanctions and export control areas, Crowell & Moring said Oct. 12. The firm expects a “heavy focus” on trade violations involving Iran, China, North Korea and Russia, and continued focus on cryptocurrencies, including enforcement that targets illegal ransomware activities and payments (see 2110130038). The firm also noted that the U.S. has devoted more resources to foreign bribery enforcement, including recently assigning a squad of FBI agents to work full time in the DOJ’s Fraud Section, which will help the agency’s investigative efforts.
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The firm also expects DOJ to issue updated policies on non-prosecution and deferred prosecution agreements. The agency could seek input on “the weight given to corporate cooperation” in investigations, which would build off the voluntary disclosure policies it updated in 2019 (see 2008180043), Crowell & Morning said. “Now is a critical time for companies to review and assess compliance programs, to ensure not only that adequate controls are in place but that they are actively pursuing a culture of compliance,” the firm said.