U.S. Attorney General-designee Eric Holder may bolster resources dedicated to white collar crime cases, potentially reversing a decline seen in the Bush administration, say former prosecutors.
The U.S. Justice Department revised guidelines on prosecuting corporate wrongdoers Thursday, following pressure from lawmakers and businesses that said it had overzealously pushed companies to waive their attorney-client privileges.
U.S. authorities have unfairly escalated the penalties for Bank Secrecy Act violations by overusing criminal proceedings in cases that should be considered civil matters to be solved by regulators, legal professionals say.
Knowing and adhering to federal prosecution guidelines and giving "unfettered cooperation" to the U.S. Justice Department in criminal investigations are a bank's best defenses against indictment and can help secure a less painful deferred prosecution agreement.