This week the Department of Justice (DOJ) announced its new approach to corporate criminal enforcement, "Focus, Fairness, and Efficiency in the Fight Against White Collar Crime." This rollout was highlighted in an address by Matthew Galeotti, the DOJ’s criminal division chief, at the Securities Industry and Financial Markets Association (SIFMA) Anti-Money Laundering and Financial Crimes Conference. Galeotti further highlighted the administration’s revised approach to corporate monitorship and whistleblowers.  

This new approach works to coordinate with the other policy priorities of the department by aiming to streamline both the amount of resources spent on, and the types of cases to be focused on, in the white collar arena. The sum of these changes potentially accrue to the significant benefit of corporations that engage in self-policing and self-reporting — as the government is offering a broader path to "declination" (i.e., no charges) in exchange for avoiding "lengthy drawn-out investigations that are ultimately detrimental to companies and the Department," as Galeotti said in his address this week. The price of those investigations is further exacerbated, the DOJ says, by "unrestrained" monitorships and high compliance costs.

Articulating White Collar Enforcement Priorities

The DOJ called out for particular attention and possible prosecution the following 10 areas:

• Waste, fraud, and abuse, including health care fraud and federal program and procurement fraud.
   
• Trade and customs fraud, including tariff evasion. 
   
• Fraud perpetrated through Chinese variable interest entities (VIEs), including "ramp and dumps," elder fraud, securities fraud, and other market manipulation schemes. 
   
• Fraud that victimizes U.S. investors, individuals, and markets. 
   
• National security related crimes, including threats to the U.S. financial system by gatekeepers.
   
• Material support by corporations to foreign terrorist organizations.
   
• Complex money laundering, including organizations involved in laundering funds used in the manufacturing of illegal drugs. 
   
• Violations of the Controlled Substances Act and of the Food, Drug, and Cosmetic Act (FDCA), including the unlawful manufacturing and distribution of fentanyl components and unlawful distribution of opioids by medical professionals and companies. 
   
• Bribery and associated money laundering that impact U.S. national interests, undermine U.S. national security, harm the competitiveness of U.S. businesses, and enrich foreign corrupt officials.
   
• Crimes involving digital assets that victimize digital asset investors, or use digital assets to facilitate other offenses.

What This Means for Companies

The DOJ’s revised enforcement posture offers new opportunities for companies navigating corporate compliance, particularly in high-risk sectors such as financial services, health care, and defense contracting.  Key elements of the new strategy include:

• A Clear Path to Declination for Self-Reporting Companies:
  Companies that voluntarily self-disclose misconduct, fully cooperate with DOJ investigations, and undertake timely and appropriate remediation — without aggravating factors — will now be entitled to a declination, not merely a presumption of one. For companies that self-report but have aggravating circumstances, DOJ prosecutors will weigh those factors against the company's cooperation and remediation efforts in deciding whether a declination remains appropriate.
   
• Streamlined Corporate Enforcement Policy (CEP):
  DOJ has revised the CEP to simplify expectations and improve transparency. The updated policy features a new decision framework — complete with a flow chart — that outlines how DOJ will evaluate corporate conduct and determine outcomes.
   
• Reduced Use and Narrowing of Corporate Monitors:
  The policy signals a shift away from default monitorships. The DOJ will now impose a monitor only when the expected benefits clearly outweigh the associated costs, and will require tighter scoping, fee caps, and regular oversight meetings. Companies with mature compliance programs and demonstrable remediation may be able to avoid a monitor altogether.  
   
• Expanded Whistleblower Incentives and Priority Enforcement Areas:
  Focus is on misconduct with heightened national security or fiscal implications, such as procurement fraud, sanctions violations, customs fraud, and financial facilitation of transnational criminal organizations. Companies operating in these sectors face increased exposure if compliance programs are under-resourced or ineffective.

Strategic Recommendations for Companies and Executives

For both public and private companies, the policy presents an opportunity to reevaluate compliance readiness, internal reporting structures, and response protocols. Companies should consider the following steps:

• Reassess Compliance Program Maturity:
  DOJ’s emphasis on remediation and internal controls underscores the need for documented, risk-based compliance frameworks that evolve with the business. Programs should be tested regularly and calibrated to detect misconduct at the earliest stage.
   
• Evaluate Readiness to Self-Disclose:
  Companies should establish internal protocols that enable timely identification and reporting of potential misconduct. Legal and compliance teams must be empowered to elevate concerns to executive leadership and, where appropriate, external counsel.
   
• Review Whistleblower Channels and Anti-Retaliation Protections:
  The DOJ continues to encourage internal reporting, but whistleblower incentives create a race-to-report dynamic. Companies should ensure that employees trust and understand internal reporting mechanisms and are protected from retaliation.
   
• Monitor High-Risk Areas:
  DOJ is signaling sharper focus on sectors vulnerable to fraud and national security risks. Companies in health care, defense, energy, financial services, and international trade should pay particular attention to third-party relationships, sanctions compliance, and government contracting practices.
   
• Outside Counsel:
  Consider partnering with outside counsel for internal investigations and self-reporting assessments.

Takeaways for Corporations

The administration is focusing on a system it believes will reward proactive compliance and punish willful misconduct, particularly at the individual level. The message is clear: cooperation and early engagement are now more valuable than ever.

Companies that prioritize internal compliance, act quickly when issues arise, and demonstrate transparency will be better positioned to avoid the high costs of enforcement.

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