National Whistleblower Day

The business writers at The New York Times promise a bump in white-collar crime news in 2020. At the same time, a series of reports raise concerns about oversight of the accounting industry.

From The Times:

Goldman Sachs is negotiating with the Justice Department to pay a penalty of about $2 billion for its role in the 1Malaysia Development Berhad scandal, known as 1MDB.


Continue Reading 2020 may be a big year for white collar crime, but report cites poor oversight of accounting firms

International-Map-of-SEC-Crimes-Reported-foreign-corrupt-practice-act
International tips are crucial to the SEC’s law enforcement capabilities. From 2011 to 2017, the SEC received a total of 2,655 whistleblowers from 113 countries. This map shows the countries as well as the frequency of those tips.

Washington, D.C. August 30, 2018. Today, the National Whistleblower Center (“NWC”) released a report analyzing data from Foreign Corrupt Practice Act (“FCPA”) cases since the law was passed in 1977, including several cases decided in 2018.

The Foreign Corrupt Practices Act is one of the most important whistleblower laws, especially for foreign nationals and for combatting corruption and bribery occurring on foreign soil. The FCPA prohibits companies issuing stock in the U.S. – and their subsidiaries – from bribing foreign officials to win contracts and other business.
Continue Reading The Foreign Corrupt Practices Act is an Effective Tool to Stop Illegal Activity and Catch Illicit Profits

Washington, D.C. December 6, 2016.  This Friday, December 9th, the United Nations and anti-corruption organizations around the world will celebrate International Anti-Corruption Day. International Anti-Corruption Day annually recognizes the critical fight against fraud and corruption, and provides a venue to discuss new strategies for tackling these issues around the world. This year the United Nations Development Programme (UNDP) and the United Nations Office on Drugs and Crime (UNODC) have announced a joint global campaign: “United Against Corruption,” which focuses on how corruption impacts rich and poor countries alike and must be addressed through a unified international approach. The 2016 joint international campaign highlighted this in their statement on the campaign, “Fighting corruption is a global concern because corruption is found in both rich and poor countries, and evidence shows that it hurts poor people disproportionately. It contributes to instability, poverty and is a dominant factor driving fragile countries towards state failure.”

Continue Reading UN, Governments and Advocacy Organizations to Recognize International Anti-Corruption Day National Whistleblower Center joins as Part of the Day’s Celebration

Originally Published by FCPA Compliance and Ethics Blog
Author: Thomas Fox

The holiday season is past and many of us have returned to work. However, if you are a Chief Compliance Officer (CCO) there is a gift that you may wish to give yourself, it is “The Whistleblower’s Handbook – A Step-by-Step Guide to Doing What’s Right and Protecting Yourself” authored by Stephen Martin Kohn, Executive Director of the National Whistleblowers Center. I do not suggest that CCO’s purchase this volume for their own protection, although the former Chief Executive Officer (CEO) of Olympus might have been able to use it before he was fired by the Olympus Board last October. No, I suggest that CCOs purchase this because many others in your company may well do so and it is the best single volume collection of all laws, rights and obligations related to whistle-blowing that I have come across.

I thought about Kohn’s book when I came across a couple of whistleblower related items last month. The first one was an article in the December 28, 2011 edition of the Wall Street Journal (WSJ), entitled “Internal BNY Mellon Documents Show Panic” by Jean Eaglesham and Michael Siconolfi. In the article they report on some of the emails and other documentary evidence that whistleblower Grant Wilson was able to obtain during the two year period that he was operating “as a government informant” while employed by Bank of New York Mellon (BNY). The WSJ obtained this evidence through an open-records request. Wilson was part of a group which brought a series of whistleblower lawsuits against BNY, which have led to several states, and the Manhattan US attorney, filing civil suits against BNY. Eaglesham and Siconolfi also reported that “the bank’s [BNY] foreign-exchange traders grew concerned about a leaker” and in an earlier WSJ article, entitled “Secret Informant Surfaces in BNY Currency Probe”, reporter Carrick Mollenkamp stated “BNY Mellon sought to discover the insider’s identity and to fight the lawsuits.”


Continue Reading “From Whistleblower to RICO Claimant”