During the ABA’s 36th National Institute on White Collar Crime, the Biden administration announced their intention to combat corporate crime better.

Their intention is earnest about going after financial and corporate crime. Their target audience for that message is the private sector, which the Department is explicitly urging to invest in compliance.

The DOJ FY Budget 2023-24 is set to support getting into the details is Covid fraud, kleptocracy, cryptocurrency, and cyber-fraud enforcement, for example—that will also generate white-collar cases.

Memorandums:

10/28/2021, Corporate Crime Advisory Group and Initial Revisions to Corporate Criminal Enforcement Policies 1

9/15/2022, Further Revisions to Corporate Criminal Enforcement Policies
Following Discussions with the Corporate Crime Advisory Group

This memorandum provides guidance as to how prosecutors should ensure individual and corporate accountability, including through evaluation of a corporation’s history of misconduct; self-disclosure, and cooperation.

I Guidance on Individual Accountability
The Department’s first priority in corporate criminal matters is to hold accountable the individuals who commit and profit from corporate crime.

IA. Timely Disclosures and Prioritization of Individual Investigations
To be eligible for any cooperation credit, corporations must disclose to the Department all relevant, non-privileged facts about individual misconduct.

Therefore, to receive full cooperation credit, corporations must produce on a timely basis all relevant, non-privileged facts and evidence about individual misconduct such that prosecutors have the opportunity to effectively investigate and seek criminal charges against culpable individuals.