Death Of Trump Corruption Enforcement Greatly Exaggerated

By on May 22, 2018

May 22, 2018

Enforcement of laws governing companies’ international operations is alive and well, according to this client alert from Foley & Lardner. Laws in question include the Foreign Corrupt Practices Act, various anti-money laundering laws, as well as laws governing economic sanctions, exports, and the arms trade. Two high-profile enforcement actions are cited to demonstrate that “any thought that the Trump administration might take a more lenient approach toward these international regulations has been laid to rest.” In the Panasonic case, the company agreed to pay $280 million to resolve FCPA offenses involving an alleged scheme that involved paying a Middle Eastern government official nearly a million dollars for “purported consulting” in exchange for help in gaining a lucrative contract from a state-owned airline. The second case targeted a Chinese telecom equipment company for trading with Iran, in violation of U.S. sanctions. The penalty, in this case, was more than a billion dollars, with $300 million suspended during a seven-year probationary period. This article concludes with a suggested “twelve-step program” to help companies identify and mitigate the risk of running afoul of these laws.

 

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Foley & Lardner

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