- Major Crackdown on Foreign Corruption – The Biden Administration’s release of the National Security Study earlier this year “establish[es] countering corruption as a core United States national security interest,” and represents the administration’s expected major crackdown on the use of U.S. financial institutions to launder criminal proceeds through the lens of combatting corruption. With major speaking engagements on the horizon from federal officials, expect more definitive Department of Justice (DOJ) statements regarding Foreign Corrupt Practices Act (FCPA) enforcement, as well.
- More Frequent and Effective Cryptocurrency-Related Cases – As federal agents have become more skilled at piercing the veil of anonymity that criminals benefit from by using cryptocurrency to facilitate crimes, expect to see more cases involving this activity and better-quality prosecutions.
- Emphasis on “Yates Memo” Corporate Cooperation – The memo, disseminated in September 2015 to all Assistant Attorneys General and all U.S. attorneys, prioritizes prosecution of individuals in corporate misconduct investigations. While not in play during the Trump Administration, the Biden Administration has re-emphasized through Deputy Attorney General Lisa Monaco that, to be eligible for any cooperation credit in a misconduct investigation, corporations must provide the DOJ all relevant facts about individuals involved in corporate misconduct.
- Increased Foreign Corrupt Practices Act (FCPA) Prosecutions in Latin America - With the creation of the DOJ’s Anticorruption Task Force and its move in October to create a tip line to help fight corruption in Central America, the agency is signaling to the Northern Triangle countries of El Salvador, Guatemala, and Honduras that the government will focus on fighting corruption, human smuggling, and trafficking in the region.
- Significant Increase in Prosecutions in Mid-2022 – As the Biden administration will likely have its law enforcement priorities in place and most of the 93 U.S. Attorneys confirmed by this time, expect to see an escalation of cases brought in line with these priorities.
About the Author
Greenberg Traurig, LLP Shareholder John Huber is a veteran trial attorney and statured leader in his field with over 26 years of litigation experience handling numerous trials at every level of state and federal court. Having served as the U.S. Attorney for the District of Utah from 2015-2021, John was the longest-tenured active U.S. Attorney in the United States. First nominated by President Obama and later re-nominated by President Trump, he was unanimously confirmed by the U.S. Senate both times. John focuses his practice on complex investigations and litigation of white collar fraud, internal corporate fraud, bank fraud, securities fraud, health care fraud, False Claims Act, Qui Tam, and trade secrets.