All Anti-Corruption articles – Page 32
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ArticleSurvey: Machine learning will (eventually) help win the war against financial crime
While the war against financial crime wages on, machine learning and artificial intelligence may give financial institutions the upper hand, according to a recent survey.
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ArticleVolkswagen CCO Kurt Michels: Tips for surviving a monitorship
Fresh off his company’s compliance monitorship, Volkswagen CCO Kurt Michels shares ways to cultivate a trustful relationship with a monitor; finesse a company’s cultural makeover; and reestablish credibility in the wake of criminal behavior.
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ArticleMore data, more problems with FinCEN international transfer proposal?
A recent international wire transfer rule change proposed by U.S. regulators could go a long way toward combatting terrorist financing, but the increased transaction reporting may overwhelm an already taxed system, writes Martin Woods.
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ArticleNikola discloses subpoenas over fraud allegations
Electric truck startup Nikola disclosed in a regulatory filing it has received subpoenas from the SEC and the Department of Justice regarding fraud allegations raised in a short-seller report in early September.
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ArticleEmbattled FirstEnergy parts with legal, ethics chiefs
Embroiled in the Ohio nuclear bailout federal corruption scandal, FirstEnergy Corp. continued to clean house with the firing of Chief Legal Officer Robert Reffner and General Counsel and Chief Ethics Officer Ebony Yeboah-Amankwah.
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ArticlePfizer facing FCPA probes into China operations
Pharmaceutical firm Pfizer announced in a recent regulatory filing that it has received requests from the Department of Justice and the Securities and Exchange Commission regarding the company’s operations in China.
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ArticleJulius Baer reserves $80M for FIFA corruption settlement
Julius Baer has set aside nearly $80 million in a proposed settlement with the Department of Justice regarding the agency’s corruption investigation linked to world soccer federation FIFA.
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ArticleVW integrity chief: Culture has changed … and we have stress test to prove it
In a Q&A with Compliance Week, Volkswagen integrity chief Hiltrud Werner said that while compliance efforts “never have a finish line,” the company has made great strides since Dieselgate.
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ArticleBombardier cooperating with SFO corruption investigation
The U.K. Serious Fraud Office is investigating plane maker Bombardier over suspected bribery and corruption in relation to contracts and orders from Indonesian airline carrier Garuda Indonesia.
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ArticleESMA review slams German authorities’ supervision of Wirecard
A damning report by the EU’s securities markets regulator found numerous shortcomings in German authorities’ supervision of Wirecard’s financial reporting leading up to its collapse surrounding a $2 billion accounting scandal.
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ArticleWorking together to stop money laundering: A conversation with Marcus Pleyer
Dr. Marcus Pleyer, president of the Financial Action Task Force, emphasized his commitment to stopping money laundering in a wide-ranging and forward-looking discussion at the ICA’s BIG Compliance Festival.
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ArticleCCO Philippe Vollot has a plan for Danske’s compliance reboot
Danske Bank CCO Philippe Vollot knows his journey to build a robust compliance program and culture at the troubled lender is far from over.
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ArticleAirline Services Ltd to pay $3.9M, agrees to DPA in bribery case
The U.K.’s Serious Fraud Office has levied penalties worth nearly £3 million (U.S. $3.9 million) against defunct aircraft refurbishing company Airline Services Limited for violating the country’s anti-bribery laws.
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ArticleBribes, falsified records cost Beam Suntory $19.6M in FCPA settlement
Alcoholic beverage maker Beam Suntory agreed to pay $19.6 million to resolve Foreign Corrupt Practices Act charges of improper payments by its Indian subsidiary.
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ArticleGoldman board demands accountability with widespread 1MDB clawbacks
The board of directors at Goldman Sachs Group will attempt to claw back approximately $174 million from a dozen current and former executives—one of the largest clawback attempts ever—in the aftermath of the 1MDB scandal.
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ArticleU.K.’s SFO lays out expectations in new DPA guidance
The U.K. Serious Fraud Office has published its latest internal guidance on the threshold companies must meet before they are offered a deferred prosecution agreement.
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ArticleBSA update proposal seeks more data on international transactions
FinCEN and the Federal Reserve Board have proposed lowering the threshold at which financial institutions must collect, retain, and transmit information on overseas transfers under the Bank Secrecy Act.
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ArticlePurdue Pharma case more than an $8B fine
Compliance officers in the pharmaceutical and healthcare industries should look beyond the $8 billion fine Purdue Pharma received from the DOJ and at the bigger enforcement trend highlighting the need for better oversight in the field.
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ArticleFRC pushes for clarity on audit’s role in finding fraud
The proposed changes reflect regulatory fears that U.K. companies will be tempted to hide the scale of their financial losses as the effects of the coronavirus pandemic continue to dent balance sheets.
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ArticleCompliance lessons from Goldman Sachs’ $2.9B 1MDB settlement
Jaclyn Jaeger explores compliance takeaways from Goldman Sachs’ $2.9 billion global bribery settlement for its role in the 1MDB scandal.