It may be the least popular ride for most adult visitors of Walt Disney World, but “It’s a Small World” remains a prescient piece of entertainment. It accurately predicted how business and technology would help shrink the planet to bring us all closer together – at least as far as commerce goes. But with this internationalization of business comes an international flavor of crime, which has become a focus of the U.S. Department of Justice (DOJ).
Philip Giordano, now with Kaye Scholer LLP, spent more than 15 years as a prosecutor in the Antitrust Division of the DOJ, most recently as a trial attorney in the National Criminal Enforcement Section. I recently sat down with Giordano to discuss the challenges the DOJ faced in this increasingly globalized society.
Today, these large, international cartels continue to be an issue, alongside the domestic enforcement program, of course. Giordano notes the growth of international enforcement over the past decade or so, with total fines increasing tenfold over that period – and generating big headlines in the process.
In addition to the fines that have been doled out, U.S. regulators have taken it upon themselves to educate overseas businesses on the benefits of having training programs and guiding and assisting other nations in drafting laws so that enforcement efforts can be truly international. Specifically, the U.S. views cartel conduct as criminal activity, and this attitude has been taken up by other nations, such as the U.K., Japan, Brazil and other nations that have added a criminal prosecution element to their civil enforcement programs.