All Anti-Corruption articles – Page 11
-
Premium
U.S. bribery risk landscape in 2023: TRACE Matrix, Corruption Risk Forecast
Analyzing the results of two recent reports offers an understanding of the U.S. landscape around anti-bribery efforts entering 2023 and where elevated risks might lie.
-
Opinion
Ten things I’d like to see happen in 2023 (2022 in review)
Expect big developments for the compliance profession in 2022 to continue to take center stage in the year ahead, including CCO certifications, climate-related disclosures, and more.
-
Article
FinCEN report identifies financial trends of Russian oligarchs
The Financial Crimes Enforcement Network published an analysis of financial trends involving Russian oligarchs and how U.S. financial institutions have aided in the identification of more than $30 billion worth of sanctioned Russians’ assets.
-
Article
AML 2023 preview: Regs not backing down on beneficial ownership, tech needs
Keeping up with increasingly demanding anti-money laundering expectations in 2023 will likely mean doing more with less and figuring out where and when is the best place to use technology to aid compliance, experts say.
-
Article
DOJ declines to prosecute Safran over alleged FCPA violations
The U.S. Department of Justice informed French aircraft equipment manufacturer Safran that the company would not face prosecution regarding alleged bribes paid by employees at two subsidiaries to a China-based consultant.
-
Article
Joining the dots between ESG and corruption
A report from Transparency International UK sets out the case for why business integrity and corruption should be considered as core issues in the context of impact environmental, social, and governance investing.
-
Article
Honeywell to pay $203M over bribery claims in Brazil, Algeria
Honeywell International agreed to pay $202.7 million to settle charges it paid bribes to obtain contracts with government entities in Brazil and Algeria in violation of the Foreign Corrupt Practices Act.
-
Article
Deutsche Bank efforts to meet BaFin order reflective of EU’s AML struggles
Deutsche Bank said it is about “two-thirds” of the way toward meeting Germany’s financial regulator’s demands for tighter controls to combat money laundering and terrorist financing—an area of weakness many banks across the European Union are confronting.
-
Article
FinCEN proposes restricted access to beneficial ownership registry
The Treasury Department’s Financial Crimes Enforcement Network released a notice of proposed rulemaking that outlines what agencies and entities should be allowed to access the beneficial ownership registry that is in the works.
-
Article
DOJ, SEC extend Ericsson compliance monitorship one year
Swedish telecommunications company Ericsson agreed with U.S. authorities on a one-year extension of its independent compliance monitorship after a second breach of its obligations under a deferred prosecution agreement earlier this year.
-
Article
Compliance implications of Danske Bank’s $2B Estonia money laundering settlement
Danske Bank reached final resolutions with U.S. and Danish authorities to settle allegations regarding widespread anti-money laundering deficiencies at its former Estonia branch.
-
Premium
Pressure on business or individual? CCOs torn on DOJ certifications
The Department of Justice’s new CCO certification requirement drew mixed reviews from respondents to our “Inside the Mind of the CCO” survey, with many questioning whether the policy might backfire on the compliance profession.
-
Article
Santander UK fined $132M for poor AML controls
The U.K. arm of Santander was fined approximately £107.8 million (U.S. $132 million) by the Financial Conduct Authority for “serious and persistent” gaps in its anti-money laundering controls.
-
Article
Rabobank probed by Dutch prosecutors over potential AML violations
Rabobank, the second largest bank in the Netherlands, is being investigated by the Dutch Public Prosecution Service for potential violations of the country’s anti-money laundering/countering the financing of terrorism law.
-
Article
Ex-Weber Shandwick CFO imprisoned 4-plus years for embezzlement
The former chief financial officer and chief operating officer of public relations firm Weber Shandwick was sentenced to more than four years in prison and ordered to pay more than $26 million for a nearly decade-long embezzling scheme.
-
Premium
TPRM Summit: Experts discuss FCPA lessons learned from ABB settlement
A panel on regulatory trends at CW’s virtual TPRM and Oversight Summit discussed lessons for compliance departments seeking to learn how to guard themselves against bad actors within their own firms contained in ABB’s recent $327 million bribery settlement.
-
Article
Glencore to pay $180M in DRC corruption case
Commodity trading and mining company Glencore agreed to pay $180 million to the government of the Democratic Republic of the Congo to settle claims arising from alleged corrupt practices that took place for more than a decade.
-
Premium
Top ethics and compliance failures of 2022
Businesses not taking AML requirements seriously, years of noncompliant off-channel communications catching up to financial services titans, and a manufacturing firm that shared revenue with terrorists comprise CW’s list of the biggest ethics and compliance fails of 2022.
-
Resource
e-Book: Effective beneficial ownership searches leverage technology
Determining the ultimate beneficial owner of individuals and companies your firm does business with can be a tricky thing.
-
Article
ABB avoids DOJ monitor, to pay $327M over South African bribes
ABB agreed to pay $327 million in penalties to settle coordinated charges it paid bribes to win South African energy contracts. The company entered into a three-year deferred prosecution agreement with the DOJ for violations of the Foreign Corrupt Practices Act.