Data breaches are increasingly common, with an estimated $11 billion in global credit-card fraud in 2012 alone. Yet according to a new report, many organizations still fail to take the necessary security measures to prevent the theft of payment card data by cybercriminals.
The U.S. Immigration and Customs Enforcement (ICE) has been increasingly aggressive in its scrutiny of immigration-related employment practices. Audits of employer I-9 forms increased from 250 in fiscal year 2007 to more than 3,000 in 2012. Violations are also more expensive, with fines growing from $1 million to nearly $13 million between 2009 and 2012.
Sanctions have recently been a favorite tool of U.S. foreign policy makers seeking to financially coerce compliance with their national security and foreign policy goals. Accordingly, the U.S. Treasury Department's Office of Foreign Assets Control (OFAC) has a bevy of powers at its disposal to enforce these sanctions, including freezing assets, barring access to the U.S. financial system and imposing hefty fines for non-compliance. As OFAC tracks money through the world financial system, those who violate U.S. sanctions face significant repercussions.
French bank BNP Paribas (BNP) recently announced it has set aside $1.1 billion to cover the anticipated cost of violations of US economic sanctions and anti-money laundering rules. The bank's own internal investigation revealed a large number of payments involving sanctioned countries. In addition, US investigators — including the Justice Department and the Treasury Department's Office of Foreign Assets Control (OFAC) — are focusing on whether BNP violated US laws by disguising transactions with Iran, Sudan and Cuba.
In Lawson v. FMR, decided March 4, 2014, the U.S. Supreme Court greatly expanded the scope of whistleblower protections under the Sarbanes-Oxley Act (SOX) by extending the Act’s reach to employees of private firms that contract with public companies. Lawson was the first SOX whistleblower case to ever be heard by the Supreme Court. Prior to Lawson, SOX whistleblower protections shielded employees of public companies only.
Economic crime is increasingly impacting global businesses according to a recent report from professional services firm PricewaterhouseCoopers (PwC). Globalization and growing reliance on technology and online processes are two significant factors heightening the legal and financial threats posed by crimes like misappropriation, fraud, bribery and corruption.
The Immigration Reform and Control Act of 1986 (IRCA) requires all US employers verify the employment eligibility of their employees by completing Form I-9 upon hiring an employee. In addition to completing the form, employers must also retain it for the length of employment, plus the later of either three years from the date of hire, or one year after the date of termination. While employers may retain I-9 forms in paper format, electronically or a combination of the two, they must adhere to specific practices to avoid violations and penalties under the law.
Allegations of unlawful workplace retaliation have steadily risen over the last decade and now represent the most common type of discrimination claim filed with the Equal Employment Opportunity Commission (EEOC) —topping even race- and gender-discrimination claims. This surge in retaliation claims is due partly to court decisions that have broadened protections against retaliation. Workers have also had a great deal of success with these claims, as they often survive even when underlying claims of discrimination are dismissed
The Immigration Reform and Control Act of 1986 (IRCA) requires all US employers fill out Form I-9 upon hiring an employee to verify his or her employment eligibility. Although it may seem straightforward to request that an employee fill out a form, it actually requires a light touch. Employers must request enough information to comply with IRCA, but not too much — or the wrong kind — of information, which could imply discrimination.
Third parties create a wide array of corruption risks for companies operating in the modern business environment. As a result, it is imperative for a company to learn as much as possible about all agents, consultants, brokers, advisors and others with whom it deals. This is known as performing “due diligence.”