The new home of the FCPA Newswire edited by Mike Kenealy
DOJ’s Compliance Program Evaluation: the Role of the CCO (Part II of IV) – Corruption, Crime & Compliance
DOJ’s Compliance Evaluation highlights important trends in the role and independence of the Chief Compliance Officer. DOJ has stopped short of requiring direct reporting of a CCO to a CEO or other senior officer but it is inching closer to such a demand.
Featured Articles
The Growing Threat of Alternative Remittance Systems
Excellent FREE sneak peek webinar brought to us by our friends at the Law Enforcement Speakers Consortium. If you are in the AML space, this is a must watch!
Sugarcoating extortion
If the rule of law is not adequately enforced, it will be impossible to stanch corruption. In turn, it is not by chance that multinational companies face the most problems with bribery in countries with debased governments.
Scots firm in multi-million-pound Russian corruption scandal
A SCOTTISH firm is at the centre of yet another major corruption investigation in Russia, sparking new concerns over the country’s … Read More
New York county sues Purdue, J&J over opioid marketing
A county in New York state has sued Purdue Pharma LP, Johnson & Johnson and other drugmakers, accusing them of engaging in … Read More
VW trade union boss pockets €750,000 per year
It is no secret that the works council chairmen of big German corporations take home a princely salary. Nevertheless, it still comes as Read More
The State of Mind of a White Collar Criminal – Corruption, Crime & Compliance
As a chief compliance officer, it is important to consider the mindset of a criminal. Not to complete tasks and accomplish your … Read More
From Dr. No to an Agile Compliance Program – Compliance Report
Joseph Wiseman, was most famous for his role in the first James Bond film adaptation, playing the title character of Dr. No. In the … Read More
Effective Compliance and the Importance of Accounts Payable Function – Corruption, Crime & Compliance
As the compliance function has matured, Chief Compliance Officers have built important relationships with related functions that are … Read More
Governance and Ethics
Iranian Private Lenders to Adopt Corporate Governance Principles
anti corruption, corruption, Governance & Ethics
The EU’s energy and climate governance
While 2016 has been reported as the warmest year in history, the Energy Union needs to get their acts together and establish a strong … Read More
Trudeau deflects queries on Aga Khan ethics probe
Prime Minister Justin Trudeau has been devoting one day each week to showcasing his idea for reforming question period, standing in … Read More
BCCI brass wants WICB view on governance before tour approval
The BCCI wants to discuss the proposed ICC governance model with the WICB before giving the Indian cricket team its nod to tour the … Read More
More FIFA Watchdogs Quit in Protest, Sparking New Soccer Crisis
The latest ethics crisis shaking global soccer intensified Wednesday as two members of FIFA’s governance committee resigned over the … Read More
Nevada attorney general in the hot seat over ethics probe
A secretly recorded conversation between Nevada’s attorney general and the state’s top casino watchdog has led to a yearlong … Read More
Anti-Money Laundering
EU vows to assist Sudan’s efforts to combat terrorism & financing
The EU is holding a two-day workshop in Khartoum under the title “Combating Terrorism and Money Laundering” from 17 to 18 May to … Read More
Man held on suspicion of money laundering in NI
A 53-year-old man man has been arrested by the PSNI on suspicion of money laundering, after cash worth £35,000 was found in a car in … Read More
Russian money-laundering details remain dark as US settles fraud case
The case aimed to expose how Russian mobsters allegedly stole $230 million and hid some of the cash in New York City real estate. Also … Read More
Implications of Enhanced Anti-Money Laundering Regulation for MPF/ORSO Trustees
On 6 January 2017 the Financial Services and Treasury Bureau (FSTB) issued a consultation on enhancing anti-money laundering regulation Read More
Bitcoin’s Link to Crime Is a Growing Worry, Nordea Bank Warns
The biggest bank in the Nordic region says this month’s ransomware attack underscores the need for lawmakers to look more closely at … Read More
AFP investigating allegations of money laundering in innovation and investor visa applications
In a response to a Senate estimates question on notice from Labor Senator Louise Pratt published on Tuesday, the Department of … Read More
Cyber Risk
10 Ways your business can manage the risk of cyber-crime
With the reliance on technology in the business world as it is today, cyber security is something that all businesses should invest in … Read More
Fitch Urges Insurer Caution as Cyber Insurance Demand Grows
Tallying the costs from recent attacks will take time. However, Fitch analysts believe growth in corporate anxiety from cyber-related … Read More
China’s banking regulator to step up protection after cyber attack
China’s banking regulator said on Wednesday it will strengthen cyber security protection at banks to prevent “disruptive systemic risk … Read More
Demand For Cyber Insurance To Increase
The slew of recent ransomware attacks in over 150 countries reveals the widening scope of corporations’ cyber risk exposures, which is … Read More
Cyber risk needs to be at the forefront of business agenda
QBE cyber insurance expert, Ben Richardson, said the new legislation emphasises the need for data management and cyber security … Read More
Vigilance is paramount to reduce cyber risk
Over the weekend a global phenomenon occurred with over 200,000 people affected by a cyber-attack on a number of government and … Read More
Security Risks
Ransomware attack ebbs, but experts see risk of more
LONDON >> The “ransomware” cyberattack that has hit companies and governments around the world ebbed in intensity on Monday, … Read More
How we can risk-proof companies against other WannaCry and cyberattacks
First, let us all admit this. Cyber criminals are smart. They are innovative and persistent. They use the cyber tools to target many … Read More
Wannacry ransomware cyber attack: Indian ATMs could be at high risk as most run on Windows XP
Wannacry ransomware has created panic across the globe. Though the malware is witnessing a slowdown, it could strike harder in a second Read More
Biggest risk with mass email theft is phishing, malware distribution
Robert Capps said in the statement that 91% of cyberattacks start with a phishing email and reminded users to never click on links … Read More
Why WPA2-PSK can be a security risk even with an uncracked key
Wi-Fi security has evolved significantly from the early days of Wired Equivalent Privacy (WEP). If your organization is still using … Read More
U.S. Businesses Neglect a Major Information Security Risk
Even with the evolution of a mobile and increasingly digital workforce, paper documents continue to be a core component of office life. Read More
North America
UBS whistleblower Birkenfeld sues bank for libel
NEW YORK (Reuters) – A former UBS Group AG banker who as a whistleblower helped U.S. authorities prosecute the Swiss bank for tax … Read More
Karaoke over character: US Navy admiral sentenced in ‘Fat Leonard’ corruption scandal
An admiral has become the highest-ranking US Navy officer to be sentenced in the massive corruption scandal involving a Malaysian … Read More
U.S. sues UnitedHealth again for mischarging Medicare Advantage
The U.S. Justice Department for the second time in a month sued UnitedHealth Group Inc on Tuesday, accusing the nation’s largest health Read More
US moves to settleWolf of Wall Street ‘’ corruption claim
The Hollywood studio behind The Wolf of Wall Street is in talks with the US Department of Justice to settle a lawsuit alleging the film Read More
FBI corruption probe targets Macomb Public Works
The federal government’s corruption probe in Macomb County is focusing on the public works office where about a dozen employees have … Read More
Former Congresswoman Found Guilty Of Fraud and Corruption Charges
Former Florida Democratic Rep. Corrine Brown, 70, was found guilty for fraud and corruption charges. Brown, who served twelve (12) … Read More
Latin America
Odebrecht Seeking “Fair” Plea Deal in Mexico after Bribe Scandal
An official for the Brazilian construction company Odebrecht who admitted to making bribes in Mexico is hoping to reach a fair … Read More
Brazil’s President Michel Temer denies hush money claim
O Globo newspaper said Mr Temer had been recorded discussing payments to silence the jailed former Speaker Eduardo Cunha.
Valley arrest in scheme to make $6.8M on Puerto Ricans’ fake tax returns
An Allentown man is accused of conspiring to steal more than $6.8 million in federal tax dollars, the U.S. Attorney’s Office for the … Read More
Petrobras, Vale ADRs Plunge After New Brazil Corruption Allegations
NEW YORK (Reuters) – Shares in Brazilian state-controlled oil company Petroleo Brasileiro SA (ticker: PBR) and iron ore miner Vale SA … Read More
Peru ex-governor, lawyer arrested over ties to Odebrecht bribes
A former Peruvian governor suspected of arranging bribes from Odebrecht was arrested on Wednesday, while police raided Lima law firms … Read More
Brazil stocks plunge on emerging political scandal, post worst day since 2008
Brazilian stocks dropped 8.8 percent Thursday on an emerging scandal involving the country’s recently installed president.
Asia
China’s new anti-corruption body raises questions about the rule of law
Although no one doubts the importance of efforts to curb graft, anti-corruption campaigns under the leadership of Chinese President Xi … Read More
Corruption? You can bank on it
The huge loss of the state-owned Islamic Bank of Thailand (IBank) has raised questions as to how a bank that runs on principles of … Read More
The political maneuvering behind India’s anti-graft raids
The selective targeting and timing of the raids ahead of opposition plans to forge a grand alliance to fight the 2019 national … Read More
Fight corruption at all levels
CORRUPTION and power abuse have increasingly become serious problems in recent years, especially among errant civil servants who lack … Read More
Rogue financial planner behind $800,000 fraud jailed
A rogue HSBC financial planner, who enticed an elderly couple to invest $800,000 into a low-risk investment product then forged … Read More
Ex-Guinean Minister Convicted of Laundering $8.5M in Bribes
Former Guinean official Mahmoud Thiam abused his position in the nation’s mining industry to launder $8.5 million in bribes from a … Read More
Europe
Scots firm in multi-million-pound Russian corruption scandal
A SCOTTISH firm is at the centre of yet another major corruption investigation in Russia, sparking new concerns over the country’s … Read More
Tory plan to fold Serious Fraud Office into National Crime Agency comes under attack
A pledge to integrate the Serious Fraud Office into the National Crime Agency has come under widespread attack despite the regulator’s Read More
Lidlanti-mafia probe uncovers clan links to Lidl supermarkets
The Laudani clan, part of Sicily’s ‘Cosa Nostra’ crime syndicate, was found to have infiltrated several commercial enterprises in … Read More
Ukraine shelves corruption bill angering West
Ukrainian lawmakers bowed Wednesday to International Monetary Fund pressure and shelved a highly-controversial bill that critics feared Read More
Spain needs urgently to deal with systemic corruption
Spain has been systematically engulfed in corruption scandals in recent years. Few aspects of public life in the country have remained … Read More
Is the anti-corruption agenda all that it’s cracked up to be?
Recent years have seen a rise in anti-corruption protest movements across postsocialist states. In January, thousands took to the … Read More
Middle East
Iran’s Supreme Leader Warns of Possible Election Fraud
TEHRAN — Iran’s supreme leader issued a warning on Wednesday, saying there was a chance that some individuals — he was not clear which … Read More
ICC anti-corruption chief to testify against Sharjeel, Latif in spot-fixing case
In the latest twist in the investigation, Sir Flanagan, a former senior police officer, is scheduled to appear before the PCB’s … Read More
Egypt court upholds acquittal of Mubarak-era tycoon Hussein Salem in gas export corruption case
An Egyptian criminal court upheld on Thursday the acquittal of Mubarak-era business tycoon Hussein Salem on charges of corruption in … Read More
Former chief rabbi convicted of fraud, breach of trust
Bakshi-Doron was indicted in 2012 over his involvement in the scam, known as “the rabbis’ case,” which included the issuing of false … Read More
Strategies For Complying With Anti-Corruption Rules In Saudi Arabia
Government contracting can be highly rewarding in Saudi Arabia, given the wide-ranging opportunities in defense, education and … Read More
Seven anti-corruption activists kidnapped in Baghdad
Seven anti-corruption activists have been kidnapped overnight in the Iraqi capital of Baghdad by unknown gunmen.
Africa
Tanzania freezes assets of anti-corruption official, plans charges
Tanzania’s anti-graft watchdog said on Thursday it had frozen the assets of its chief accountant and planned to charge him with … Read More
Corruption “not in Nigerians’ DNA”
Contrary to what some analysts have recently suggested, endemic corruption in Nigeria has no genetic foundation, but it is rather a … Read More
South Africa: Government Making Strides in Rooting Out Corruption
Pretoria — Cooperative Governance and Traditional Affairs Minister Des van Rooyen says his Department is making strides to tackle and … Read More
South Africa: Agriculture On Allegations of Corruption Related to Fishing Rights Allocation Process
The Department of Agriculture, Forestry and Fisheries (DAFF) of the Republic of South Africa received information about the allegations Read More
SA Council of Churches discusses findings of corruption report
SOWETO – The National Executive Committee of the South African Council of Churches (SACC) will release a report of the SACC Unburdening Read More
South Africa: Minister Muthambi Revives Anti-Corruption Forum
Pretoria — Public Service and Administration Minister Faith Muthambi will convene a meeting on Friday to revive the National … Read More
About Anti-Corruption Digest
Anti-Corruption Digest is your source for international risk and compliance related news, insights and best practices. Anti Corruption Digest features various corporate compliance issues such as money laundering, business ethics, government ethics, compliance, and cyber risks from around the world. Anti-Corruption Digest is the new home of the Foreign Corrupt Practices Act (FCPA) Newswire edited by Mike Kenealy. Follow us on Social Media.
Read more: Anti-Corruption Digest International Risk & Compliance News http://anticorruptiondigest.com/#ixzz4hUwpmYE7
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