Bank of Israel issues guidance to banks on wire transfers between UAE and Israeli banks

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GLOBAL COMPLIANCE AND CROSS-BORDER INVESTIGATIONS

NEGOTIATING THE IMPOSSIBLE

The growth in global compliance requirements has significantly increased the legal and reputational risks to any company with global operations. Companies are nowadays facing extensive requirements in the fields of anti-corruption and anti-bribery, anti-money laundering (AML), cyber-security and data protection, sanctions and export control, and are increasingly being subjected to cross-border criminal and regulatory investigations, significant monetary fines, restrictions on business operations and criminal penalties. Companies, as well as senior managers and directors, are also exposed to civil action for failing to comply with such requirements.

Gornitzky’s Global Compliance and Cross-Border Investigations team, specializes in providing practical hands-on support for the global compliance efforts of our clients.

We have gained extensive and invaluable experience in conducting cross-border internal investigations for some of Israel’s leading companies, as well as for other global companies, including on matters involving anti-bribery, anti-corruption and AML. In the course of such investigations, we have represented clients before both Israeli authorities (including, e.g., the State and District Attorneys, the Israel Securities Authority, the Bank of Israel and the Israel Police) and foreign authorities (including e.g., the U.S. Department of Justice, the Federal Reserve, the New York Department of Financial Services and U.S. District Attorneys). We have good working relationships with the relevant regulators and enforcement agencies and are experienced in facilitating a productive dialogue with such government officials.

We are skilled in crafting effective anti-bribery and anti-corruption compliance programs, tailored to the company’s needs, designed to ensure compliance with both global and local anti-corruption standards, including the OECD Guidelines for Multinational Enterprises, the U.S. Foreign Corrupt Practices Act (FCPA) and Section 291A of the Israeli Penal Code 5737-1977. We help our clients comply with such standards by developing internal policies and training programs, as well as by conducting due diligence of potential business partners.

We also advise clients on compliance with national and international sanctions regimes, including sanctions imposed by the U.S. Office of Foreign Assets Control (OFAC), the United Nations Security Council, the Israeli Trading with the Enemy Ordinance, 1939 and other specific sanctions imposed by the Government of Israel with respect to direct and indirect business ties with Iran. We further advise clients on legal restrictions on the use, development, commercialization and export of certain controlled technologies under the Israeli Defense Export Control Law 5766-2007 and the Law Governing the Control of Commodities and Services – 1957 (5717) Order Regarding the Engagement in Encryption Items – 1974 (5734), as well as on the provision of services and know how with respect to such technologies. We also advise clients on international human rights matters that have an increasing impact on the reputation and legal exposure of global businesses. In addition, we support the efforts of our clients to comply with local and global cyber-security and data protection requirements.

We also have unique experience in conducting large-scale and complex e-discovery, in particular in the context of cross-border investigation and litigation. We employ cutting edge technology in order to streamline such review, including artificial intelligence.

OUR EXPERIENCE

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