WorldCompliance Announces the Release of the Authoritative Report, the 'Foreign Corrupt Practices Act, A Compliance Roadmap'

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Jul 07, 2010, 06:00 ET

MIAMI, July 7 /PRNewswire/ -- Miami-based WorldCompliance, the world's leading Open Source Intelligence Company announced the release of the authoritative report titled "Foreign Corrupt Practices Act, a Compliance Roadmap," that discusses the hidden risks of noncompliance with the FCPA. The report is the first of its kind to provide insights into the FCPA based upon insider experiences from actual cases.

The report is a result of the increasing enactment and enforcement of anti-bribery laws worldwide. For reference, half of the indictments meted out since the FCPA's inception in 1977 have occurred in the past three years, with fines exceeding two billion dollars. In April, the UK enacted their version of the Act, called The UK Bribery Bill. This is another indication of the direction countries are taking towards combating corruption.

Most recently, Mark Mendelsohn, who led the Fraud Section of the Criminal Division of the United States Department of Justice and the leading force behind FCPA enforcement, recently left the position and transitioned to private practice. His deputy Charles Duross took his place in the interim and according to the DOJ's spokesperson, Laura Sweeney said that while the vacancy could present challenges for companies in the short-term, FCPA enforcement is likely to continue unabated in the long-term.

The report highlights how the Department of Justice has taken an aggressive position in pursuing the FCPA by instituting strategies such as wire taps and undercover investigations normally reserved for criminal cases. It is a critical document for any compliance officer, legal counsel or other executive concerned with implementing a solid FCPA program.

Read the treatise

Michael Volkov authored the report which was commissioned by WorldCompliance. He is a litigation partner at the law firm of Dickinson Wright; where he focuses on trial practice, white collar defense and complex internal investigations.

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Join Mr. Volkov August 5th in a live online presentation where he will discuss the highlights and trends contained within "Foreign Corrupt Practices Act, a Compliance Roadmap." Mr. Volkov will provide practical advice and suggestions for making sure your company stays out of trouble. The webinar will provide an overview of FCPA obligations and will discuss red flags for potential violations and how to implement basic due diligence requirements for dealing with third parties.

In addition, this webinar will provide lessons learned from recent enforcement and best practices for implementing an effective FCPA compliance program. Mr. Volkov will be accompanied by Ryan Morgan, U.S. Sales Director and FCPA specialist for WorldCompliance. Ryan will discuss best practices for third party vetting to ensure that no Foreign Official is hiding within your supplier network.

Take advantage of this opportunity to obtain insights from FCPA professionals, gain perspective from their experiences, and use it to develop a program for your organization.

To register for the event, go to:

https://secure.confertel.net/tsregister.asp?course=516601

About Dickinson Wright

Dickinson Wright was founded in Detroit in 1878 and has since grown to be one of the most respected law firms in its region. With more than 240 attorneys and offices in Detroit, Bloomfield Hills, Lansing, Grand Rapids, Ann Arbor, and Washington, D.C., the firm provides comprehensive legal services to a broad range of clients, from very large corporations to small businesses, new ventures, individuals and governmental units.

About WorldCompliance

WorldCompliance has the most comprehensive database of individuals and organizations that may represent a risk to your organization's finances and reputation. Their solutions are used to identify entities linked to over twenty risk categories including state owned enterprises and foreign officials, terrorism, narcotics, money laundering, fraud, collateral crimes, and politically exposed persons.

Their database conforms to local anti-terrorism and money-laundering legislation, including The U.S. Patriot Act, FCPA, The UK Bribery Bill and is verified for compliance with the requirements of the Third EU Money Laundering Directive. They protect more than 2000 clients worldwide, working in sectors such as brokerage, finance, government, insurance and manufacturing.

SOURCE WorldCompliance