The Department of Justice’s initial and further revisions to corporate criminal enforcement policies epitomize the carrot-and-stick approach. Organizations that embrace the policies can avoid prosecution, almost certainly obtain reduced fines and penalties and escape a government-imposed monitor. Besides legal benefits, the policies and corollary DOJ guidance help companies increase revenue, cut costs, enhance compliance and in-house legal function expertise, safeguard the brand and protect board members’ and management’s professional reputation.
Organizations that ignore or dismiss the policies and guidance face far harsher consequences, especially if they are corporate crime recidivists or fail to remediate timely and effectively. In an article for Corporate Compliance Insights, StoneTurn Partner Jonny Frank outlines eight relatively inexpensive actions companies and their external advisers can take to reap the benefits.