Justice Department tells bankers to confess their misdeeds to cut better enforcement deals
U.S. prosecutor Marshall Miller (C), William Nardini (R) and Kristin Mace attend a news conference in Rome February 11, 2014. Tony Gentile | Reuters Banks and other corporations that proactively report possible employee crimes to the government instead of waiting to be discovered will get more lenient terms, according to a Justice Department official. The DOJ recently overhauled its approach to corporate criminal enforcement to incentivize companies to root out and disclose their misdeeds , Marshall Miller, a principal associate deputy attorney general, said Tuesday at a banking conference in Maryland. "When misconduct occurs, we want companies to step up," Miller told the bank attorneys and compliance managers in attendance. "When companies do, they can expect to fare better in a clear and predictable way." Banks, at the nexus of trillions of dollars of flows around the world daily, have a relatively high burden for enforcing anti-money laundering and other legal ...