All Anti-Corruption articles – Page 25
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ArticleEx-Goldman Sachs exec Asante Berko settles FCPA case
The SEC obtained final judgment against a former Goldman Sachs executive charged with violating the FCPA by orchestrating a bribery scheme to help a client win a power plant contract in the Republic of Ghana.
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ArticleAML compliance proving tall hurdle for U.K. crypto firms
The U.K.’s financial regulator has been forced to extend a registration deadline for cryptocurrency firms by nearly nine months because so few have been able to meet even basic anti-money laundering requirements.
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ArticleEmbattled Deutsche Bank to overhaul anti-financial crime controls
Deutsche Bank is planning to shake up its internal structure around anti-financial crime efforts in the wake of criticism from multiple regulators.
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ArticleHow global compliance works at the local level
For compliance officers working for global companies, it is important to understand the way different regions view compliance and how it may differ from your home country’s views.
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Article
Volkswagen secures $21.7M in executive clawbacks for Dieselgate roles
Volkswagen’s supervisory board announced agreements to recover €17.8 million (U.S. $21.7 million) in compensation from former executives and board members for their respective roles in the Dieselgate emissions scandal.
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ArticleStudy: Financial crime compliance costs climb 18 percent in 2020
Projected costs for financial crime compliance among financial services companies worldwide reached nearly $214 billion last year, according to the latest survey from LexisNexis Risk Solutions.
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ArticleAustralia’s NAB cited for ‘serious and ongoing non-compliance’ with AML laws
Australia’s financial regulator has identified “serious concerns” with National Australia Bank’s compliance with anti-money laundering and counter-terrorism financing rules but indicated it won’t fine the bank—for now.
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ArticleBiden memo establishes fighting corruption as national security priority
A new directive released by President Biden instructs U.S. federal agencies to make combating corruption a national security interest. Compliance practitioners in the financial services industry, particularly, may feel the ripple effect
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Article
SEC drops FCPA probe into Avianca
Avianca Holdings disclosed in a regulatory filing that the SEC has dropped its FCPA investigation into the company and will not recommend an enforcement action.
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Article‘FinCEN Files’ source sentenced to 6 months in prison for disclosing SARs
Natalie Mayflower Sours Edwards, a former senior advisor at FinCEN who provided 2,100 SARs to BuzzFeed News that would form the basis of 2020’s “FinCEN Files” investigation, was sentenced to six months in prison.
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ArticleOFAC bills Bulgarian sanctions as ‘single largest action targeting corruption’
Calling it the “single largest action targeting corruption to date,” the Office of Foreign Assets Control sanctioned three prominent Bulgarian individuals along with their network of 64 companies for their “extensive roles” in corruption in Bulgaria.
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ArticleCalif. judge dismisses bribery charge against Apple security chief (and former CCO)
A bribery charge against Apple’s chief security officer was dropped by a California Superior Court judge, citing a lack of evidence.
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ArticleJulius Baer pays $80M in FIFA corruption settlement
Swiss bank Julius Baer entered a deferred prosecution agreement and will pay $80 million for its role in a money laundering conspiracy linked to world soccer federation FIFA, the Department of Justice announced.
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ArticleAustrian banker arrested for role in Odebrecht-related scheme
The former CEO of an Austrian bank was arrested in the United Kingdom on criminal charges for his alleged role in a massive money laundering scheme involving Brazil-based global construction conglomerate Odebrecht.
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ArticleAML culture is in need of a revamp
Bank culture continues to be a problem following the 2008 financial crisis, and strategies formed to prevent money laundering haven’t fared much better. It’s time for a new approach, writes Martin Woods.
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ArticleDeutsche Bank names new group AML officer amid enhanced scrutiny
Deutsche Bank named Joe Salama global head of anti-financial crime and group anti-money laundering officer less than a month after its AML controls were criticized by German financial regulator BaFin.
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PremiumChapter 5: Volkswagen’s path to winning back trust
Its monitorship now complete, Volkswagen’s new focus is to rebuild its reputation among its customer base. It’s a long process, says Board Member Hiltrud Werner, one supported by a shift in strategy.
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PremiumChapter 4: Tangible measures of cultural progress at Volkswagen
At the end of the day, how does an organization measure the effectiveness of company-wide cultural initiatives? Volkswagen has answers, utilizing perception workshops, mood barometers, and new diversity and inclusion initiatives as part of its culture rebuild post-Dieselgate.
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ArticleSEC tops $900M in whistleblower awards with $28M payout
The SEC has surpassed $900 million in whistleblower awards with a $28 million payout announced Wednesday. The award is said to be related to a Panasonic FCPA settlement from 2018.
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PremiumChapter 3: VW operationalizes its Dieselgate monitorship
A revamped code of conduct and the Together4Integrity campaign stood out as significant milestones for Hiltrud Werner & Co. as Volkswagen began to embrace its Dieselgate monitorship as a way to improve company culture.