The U.S. Department of Justice (DOJ) is using a combination of carrots and sticks to encourage banks and other corporations to proactively report misconduct by their employees, while ramping up scrutiny of cryptocurrency scams, according to a senior official.
The DOJ is changing its approach to corporate criminal enforcement by allowing companies to avoid pleading guilty if they voluntarily disclose wrongdoing, Marshall Miller, principal associate deputy attorney, said in prepared remarks on Dec. 6.
In addition to voluntary disclosure, companies would have to fully cooperate on remedial actions. The DOJ also will not require an independent compliance monitor if the company has rolled out an effective compliance program….