A U.S. Justice Department program that incentivizes companies to self-report foreign corruption is making headway as prosecutors look for ways to hold individuals accountable for wrongdoing, according to an official in the department’s Foreign Corrupt Practices Act unit.
“Individual prosecutions remain our chief goal,” Ephraim Wernick, assistant chief of the Justice Department’s FCPA unit, said Tuesday at a New York event hosted by The Wall Street Journal and Dow Jones Risk & Compliance. “We do recognize that is the primary deterrent of misconduct, and we want to ensure that those who are actually committing the crimes are going be held accountable.”
The Justice Department in 2016 launched a pilot program offering lenient penalties and limited prosecution to companies that reported wrongdoing under the FCPA, cooperated with government investigators, strengthened compliance practices and disgorged profits.
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