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Podcast: Corruption Crime & Compliance
Episode: DOJ Settles FCPA Cases with Two UK-Based Reinsurance Companies
Description: In the 300th episode of Crime, Corruption and Compliance, Michael Volkov examines the recent FCPA settlements with two major UK reinsurance brokers - Tysers and H.W. Wood - for their involvement in a bribery scheme in Ecuador. The DOJ took an unorthodox approach by going after individual people before the companies. This helped them get cooperation and gather evidence, resulting in over $36 million in fines and forfeited money. However, it also highlights common issues in FCPA cases, such as a lack of supervision and effective controls that let corruption happen.You’ll hear Mi...