Cites FCPA & FCA as powerful detection and enforcement tools
In remarks delivered to a group of Italian and American leaders and law enforcement officials on Thursday in Rome, U.S. Attorney General Loretta E. Lynch highlighted the powerful tools the United States is using to fight international fraud and corruption. Lynch also gave assurances to the group that the United States is committed to fighting corruption noting that “we are working tirelessly to detect corruption and bring wrongdoers to justice – no matter how powerful the actors, no matter how complex the crimes, and no matter where the crimes take place.”
Lynch first praised the success of the Foreign Corrupt Practices Act stating “Since 2009, the Department of Justice has brought more than 65 individual criminal cases and more than 65 cases against corporations in connection with foreign bribery charges – many of them in coordination with our foreign law enforcement partners. These investigations have resulted in the collection of more than $4.4 billion in penalties.” She also commented on the Securities and Exchange Commission’s success using the FCPA stating it has “brought suit against more than 100 companies and 40 individuals, resulting in approximately $2.6 billion in monetary relief.”
According to Lynch the U.S. has also found great success using the False Claims Act to “root out fraud” under its qui tam whistleblower provisions stating that “Since its inception in 1986, the FCA has allowed for the recovery of more than $53 billion in industries ranging from health care to defense.”
In utilizing these powerful tools, it is the aim of the U.S. to send a clear message, “We expect businesses and organizations – and anyone acting on behalf of these entities – to play by the rules, whether they act overseas or in the United States.” Lynch said.