Newsflash - New Law of Asset Forfeiture generates new risk for companies
August 02, 2019
Newsflash Ritch Mueller
On July 25, 2019 the National Law of Asset Forfeiture was approved by Congress, and the State will now be able to forfeit assets from companies for several causes including corruption.
It is of the utmost importance that companies update their compliance programs to address this new reality, establishing policies and controls that provide evidence to prove good faith in the acquisition or possession of goods within a forfeiture procedure.
Having an effective compliance program can be exempt companies from criminal liability and be a mitigating factor with respect to administrative liability, furthermore it is the right way to do business and constitutes a competitive advantage.