The new home of the FCPA Newswire edited by Mike Kenealy
U.S. judge dismisses case against Wal-Mart over Mexico bribery
Wal-Mart Stores Inc (WMT.N) on Monday won the dismissal of a U.S. lawsuit accusing the world’s largest retailer of defrauding shareholders in its Wal-Mart de Mexico unit by concealing its suspected bribery of public officials in Mexico.
Switzerland: Printing Firm to Pay US$ 34.8 Million Corruption Fine
The Swiss branch of German printing press manufacturer Koenig & Bauer has agreed to pay a fine of 35 million Swiss francs (US$ 34.74 million) to end a corruption probe, Swiss authorities said.
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.
Unaoil corruption inquiry puts £2.2bn Amec takeover at risk
Amec Foster Wheeler and Wood Group have revealed their exposure to an investigation into alleged corruption at Unaoil before a proposed Read More
Petrofac suspends top executive amid SFO corruption probe
Petrofac has suspended its chief operating officer after the Serious Fraud Office swooped on the oil services group earlier this month … Read More
U.S. Supreme Court: Ecuador vs Chevron Rico Act ruling a $9.5 billion issue
Can U.S. companies use the federal racketeering law to fend off costly foreign court judgments? For Chevron Corp., the answer was … Read More
Airbus Seeks Outside Help to Review Compliance Amid Corruption Probes
LONDON—European plane maker Airbus SE has established a new compliance review group led by outsiders amid allegations of corruption … Read More
Fighting corruption, Ukraine starts to judge its judges
Ukrainian judge Artur Yemelianov has acknowledged in an online declaration that he owns a Breguet watch worth nearly a third of his … Read More
Petrofac Falls 30% After Suspending COO Amid Fraud Investigation
Shares in Petrofac (POFCF) tanked Thursday, falling almost 30%, after the oil services group said it had suspended its chief operating … Read More
Governance and Ethics
Facebook and the ethics of moderation
Many social media users assume that content moderation is automated, that when an inappropriate image or video is uploaded to the net a Read More
Good business ethics, corporate governance panacea to economic challenges, says IPEF
The Ijebu Professional Excellence Foundation (IPEF), a non-governmental organisation, has said Nigeria’s quest to overcome its economic Read More
Estate agents urge PM ‘to restore good governance practices’
The Federation of Estate Agents has unreservedly condemned “the malicious” intent behind the attack on Malta’s reputation and the … Read More
Selection process for Sauk County ethics panel under scrutiny
A Sauk County Board members says the process by which a new county ethics panel was appointed this month gives him little confidence … Read More
Philippines: BSP seeks to strengthen banks’ governance
The BSP on Friday signed a memorandum of understanding with the International Finance Corp. (IFC), a World Bank unit engaged in lending Read More
Ethics complaint targets Bevin over Anchorage home
An ethics complaint filed Friday contends Gov. Matt Bevin used his office for personal gain in the purchase of an Anchorage mansion at … Read More
Anti-Money Laundering
Citigroup Subsidiary Admits Failure to Stop Money Laundering to Mexico
A subsidiary of one of the largest banking corporations in the U.S. this week admitted to engaging in criminal behavior by failing to … Read More
Banks slapped with fines for weak anti-money laundering controls
Several local and international banks have been slapped with administrative fines by the South African Reserve Bank, for weak … Read More
Court rules against B.C. man accused of money laundering in U.S.
Glenn Harley Sheck had tried to get an extradition application by the U.S. thrown out on the grounds that American police worked … Read More
Hong Kong and Macau regulators intensify efforts against money laundering, financial crime and terrorist funding
Hong Kong and Macau have launched simultaneous shake-ups of the systems they have in place to tackle the growing menace of money … Read More
US says Hezbollah associate pleads guilty to money laundering conspiracy
New York: A Lebanese man accused of trying to use his ties to Hezbollah to further a scheme to launder drug money pleaded guilty on … Read More
Money laundering in Guyana
The Bank of Guyana (BOG) Supervision Guideline No.13 states that money laundering means: “A person commits the offence of money … Read More
Cyber Risk
Ransomware cyber attack: Is your computer at risk?
A cyber-attack has affected hundreds of thousands of computers across the world blocking people out of their devices.
Bitcoin Sets Records amid Elevated Risk, Yuan Eyes Upper Bound ahead of FOMC
We dicussed that Japan’s official recoginition of Bitcoin as a payment method as well as U.S. SEC’s reconsideration on Bitcoin ETFs … Read More
Auditors armed with new method to audit cyber-risk
Auditors now have a new guide available to them to help examine and report on companies’ efforts to manage their cyber risk, and the … Read More
Cybersecurity Looks to AI
The spread of ransomware holding computers to ransom last week highlights the impact of weaknesses in cybersecurity as British … Read More
How Should Financial Services Boards Respond To Growing Cyber Risks?
The WannaCry cyber attack this month did not hit financial services (FS) firms as directly as it did some other industries, but its … Read More
For bankers, ATM hacks are less about losing a few lakhs & more about erosion of reputation
Last year, Vijay Kumar, an Indian Army sepoy, got the shock of his life when he discovered a shortfall of Rs 2 lakh in his SBI salary … Read More
Security Risks
Radio-controlled pacemakers aren’t as hard to hack as you (may) think
Pacemakers are devices that are implanted in the chest or abdomen to control life-threatening heartbeat abnormalities. Once they’re in … Read More
3 surefire ways to protect your ATM network
A physical ATM attack is extremely arduous. It takes several individuals to lift the average ATM and intricate planning to work out the Read More
The effectiveness of standards in preventing and mitigating DDoS attacks
Whether or not you work in IT security, distributed denial of service (DDoS) attacks are becoming more visible by the day. In the last … Read More
Ransomware attacks demonstrate security vulnerabilities
The recent ransomware attack has sent shock waves through the world’s data communities. The “WannaCry” attack began on May 12, quickly … Read More
Media players wide open to malware fired from booby-trapped subtitles
Hackers have gone back to the future by attempting to infect targets with booby-trapped subtitle files.
20 Ways to Prevent a Deadly DDoS Attack
In the past year, Distributed Denial of Service (DDoS) attacks have overwhelmed some of the largest websites, forcing Reddit, Twitter, … Read More
North America
U.S. accuses Massachusetts hedge fund manager of fraud
A Massachusetts hedge fund manager has been arrested and accused of misappropriating millions of dollars from investors and engaging in Read More
Gordon Campbell on the Navy’s dealings with Fat Leonard
At an official level, our “she’ll be right” attitude routinely spills over into a keen resentment of anyone who suggests the outcomes … Read More
The case for protecting America’s intelligence agency whistleblowers
The Follow the Rules Act, which passed in the House of Representatives this month, would expand the protections against retaliation … Read More
Canada Backs `Magnitsky Law’ to Expand Corruption Sanction Power
The Canadian government will back legislation allowing the country to impose sanctions on human rights abusers in foreign countries.
US brands will lose $6.5bn to ad fraud in 2017
As brands place more of an emphasis on digital advertising, the risk of ad fraud only increases. But despite this threat, the level of … Read More
The New Dawn Liberia – Ex-U.S. soldier makes bribery claims
“I therefore, reported to the LRA. The reason that I reported the bribe is because of the line of work that I have been doing which … Read More
Latin America
Layers of Corruption Facilitate Fuel Theft in Mexico
Brazil may face its second presidential impeachment in less than a year, thanks to revelations of the veritable epidemic of corruption … Read More
Brazil’s: How Fighting Corruption Could Imperil Political Stability
Less than a year ago, President Dilma Rousseff was impeached and forced out of office in a swirl of claims about financial impropriety. Read More
Battling the scourge of corruption in Latin America
Brazil may face its second presidential impeachment in less than a year, thanks to revelations of the veritable epidemic of corruption … Read More
Son, Brother of Guatemalan President to Stand Trial on Fraud
The judge ruled late Friday the president’s son Jose Manuel Morales Marroquin and brother Samuel will stand trial for fraud.
Peru: No more corruption, works to be efficient and fast
Many inveigh against the monster daily. Yet, people who call on Government to take a stand against corruption start quarrelling about … Read More
Why corruption’s our best friend
Many inveigh against the monster daily. Yet, people who call on Government to take a stand against corruption start quarrelling about … Read More
Ex assistant sales manager in Singapore jailed for corruption
Singapore’s Corrupt Practices Investigation Bureau (CPIB) has reported yesterday that Lu Sang, a 36 year-old Malaysian and Singapore … Read More
Impeached South Korean President Park Denies Corruption At Trial
The Seoul Central District Court held a lottery last week for the 68 seats available for the public, drawing more than 500 people, … Read More
PNG party promises swift action against corrupt leaders
The leader of one of Papua New Guinea’s main opposition parties says that if it forms government, it will look to have corrupt leaders … Read More
Former security chief of Chinese city sentenced over corruption
BEIJING: The former public security boss of China’s northern city of Tianjin was given a suspended death sentence on corruption … Read More
India: Kapil Mishra to hold exhibition of ‘evidence of corruption’ against Kejriwal
NEW DELHI: In response to AAP functionaries laughing away at his allegations of corruption, sacked AAP minister Kapil Mishra has … Read More
Philippines: Minding the corruption and the debt trap
IT is no secret that the Duterte administration intends to spend P8 trillion to P9 trillion on infrastructure buildup during its … Read More
Europe
German MEP at PN mass meeting: ‘Malta needs change, it needs Simon Busuttil’
German MEP Manfred Weber has urged the Maltese public to vote for Simon Busuttil as their new prime minister, telling a Nationalist … Read More
Unaoil corruption inquiry puts £2.2bn Amec takeover at risk
Amec Foster Wheeler and Wood Group have revealed their exposure to an investigation into alleged corruption at Unaoil before a proposed Read More
New Rules on Private-to-Private Corruption Adopted in Italy
The discipline of private-to-private corruption contained in article 2635 of the Italian Civil Code was one of the points severely … Read More
Petrofac suspends top executive amid SFO corruption probe
Petrofac has suspended its chief operating officer after the Serious Fraud Office swooped on the oil services group earlier this month … Read More
Dutch Police Allegedly Bribe Newspaper to Bury Data on Criminal Asylum Seekers
The national police force of the Netherlands admitted trying to cut a deal with the country’s largest newspaper, which claimed to have … Read More
Ukraine is struggling with corruption, sometimes successfully
UKRAINE is fighting two wars. One is near its eastern border, where it faces Russian aggression. The other is at its core, where it is … Read More
Middle East
Saudi Arabia, UAE, Bahrain block Qatari news websites
The censorship came hours after the Qatari state news agency QNA reported remarks purportedly made by Qatar’s Emir, Sheikh Tamim bin … Read More
Hezbollah accuses Saudi Arabia of terrorism supporter
BEIRUT, May 25 (Xinhua) — Hezbollah chief Sayyed Hassan Nasrallah launched a verbal attack Thursday on Saudi Arabia and the Riyadh … Read More
Iran: Corrupt Smugglers
The Iranian Regime’s Revolutionary Guards Corps (IRGC) has a long history of corruption, whether it’s plundering the public purse Read More
Qatar calls for curbing organised crime and terrorism
The State of Qatar has called for making use of all capabilities in confronting and curbing the criminal challenges of organised crime, Read More
Deri to be questioned on corruption allegations
Last year, Attorney General Avichai Mandelblit authorized the National Fraud Investigation Unit to launch a criminal investigation into Read More
US lost track of $1bn arms and kit in Iraq, says Amnesty
The US Army failed to keep track of more than $1bn of weapons and equipment sent to Iraq in recent years, Amnesty International says, … Read More
South Africa’s Zuma says not opposed to inquiry into corruption allegations
JOHANNESBURG: South Africa’s President Jacob Zuma said on Friday he was not opposed to setting up a commission of inquiry into … Read More
Uhuru admits divine intervention is needed for corruption and political division
The country’s stability in the run-up to the August 8 polls weighed heavily on the nation’s conscience during Thursday’s national … Read More
Churches denounce corruption in Zimbabwe
CHURCHES are concerned at the rampant corruption in Zimbabwe.
Gauging anti-graft agency’s successes
The Eliud Wabukala-chaired agency has pointed out instances where they have conducted investigations and made solid cases, only for the Read More
NCA Corruption: Former NCA board member denies participating in ‘corrupt’ deal
In a statement issued by Dr Owusu-Ensaw, he said he made his position clear to the Bureau of National Investigation when they invited … Read More
SACP vows to step up fight against corruption‚ corporate capture and misgovernance
Speaking at a National Imbizo convened by the SACP‚ Nzimande said that decisions such as the “irregular” re-appointment of Brian Molefe 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/#ixzz4iRKvsBMA
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