All Anti-Corruption articles – Page 36
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Goldman Sachs reaches $4B 1MDB settlement with Malaysia
Goldman Sachs reached a nearly $4 billion agreement in principle with the Government of Malaysia to resolve all criminal and regulatory proceedings related to three 1MDB bond transactions.
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U.K.’s Russia report underscores need to question big money
The U.K.’s long-awaited report on Russian interference in the country stresses the importance for big money to be subject to enhanced levels of due diligence, writes financial crime expert Martin Woods.
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Using data to fight fraud fire with fire
When it comes to ferreting out and thwarting fraud, one must think like the fraudster, advises financial crime expert Martin Woods, who offers tips on using data to make your firm a hostile environment for bad actors.
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Exelon subsidiary ComEd to pay $200M in lobbying, bribery case
Commonwealth Edison will pay a $200 million fine as part of a deferred prosecution agreement with the Department of Justice to resolve a criminal investigation into a years-long bribery scheme concerning lobbying practices in Illinois.
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Want an image of corruption? Look to the victims
Harrowing images of coronavirus-related suffering exacerbated by bad actors plaguing healthcare systems offer a glimpse at the true devastation of corrupt activity, writes financial crime expert Martin Woods.
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Nothing more important than knowing your risk exposure
In performing due diligence on your supply chain partners, do not be intimidated into accepting no for an answer. Being blind to potential risks is bound to get you into trouble, writes financial crime expert Martin Woods.
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SFO secures two Unaoil convictions, but judge critical of director
Following a four-year investigation, the U.K. Serious Fraud Office has secured convictions against two former Unaoil executives for bribes made to win oil services contracts in Iraq, although the presiding judge ordered a review into how SFO Director Lisa Osofsky led the case.
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G4S reaches proposed deferred prosecution agreement with SFO
A U.K. subsidiary of G4S has reached a proposed deferred prosecution agreement with the Serious Fraud Office to resolve an investigation into fraudulent contract activity with the U.K. Ministry of Justice.
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Analysis: When clean money is used for dirty purposes
There are times when it is a necessary to consider where clean money is going to as much as where dirty money may have come from, writes financial crime expert Martin Woods.
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FCPA Resource Guide revision a gold mine for compliance officers
The first update to the SEC and Justice Department’s FCPA Resource Guide since it was published in 2012 includes several clarifications intended to benefit chief compliance officers and in-house counsel.
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Kudos to TikTok, tech brethren; Starbucks & Luckin have us soured on coffee cos.
In the inaugural edition of our weekly “Nailed It or Failed It?” feature, we give TikTok and other tech companies a pat on the back and shake our heads at the actions of Starbucks and Luckin Coffee.
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ICA, AMPEC partner on Mexico expansion
The International Compliance Association announced a partnership with the Mexican Association of Ethics and Compliance Professionals to offer the ICA’s full suite of accredited qualifications in Mexico.
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Wirecard scandal will have cascading impact on Germany’s audit, regulatory landscape
Wirecard already is shaping up to be to Germany what Enron was to the United States: An accounting oversight failure so epic in its scope and scale that its aftermath is likely to forever alter the country’s auditing and accounting profession as it exists today.
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Analysis: Following the telephone trail to detect fraudsters
One way to thwart money launderers is to take a page from the government’s playbook and examine smartphone applications when the contamination of fraud or money laundering is discovered.
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Novartis’ latest settlements: $729M in kickback charges
A week after resolving FCPA investigations for $347 million, Swiss pharmaceutical drug maker Novartis will pay another $729 million in separate settlements related to kickback schemes.
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Alexion Pharmaceuticals to pay $21M to resolve FCPA case
Alexion Pharmaceuticals will pay $21 million to resolve SEC charges that it violated the books and records and internal accounting controls provisions of the FCPA concerning bribes made by subsidiaries to foreign government officials.
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Managing emerging trade-based money laundering risks
Trade-based money laundering was already happening prior to the coronavirus pandemic, but now its nature has shifted. The ICA offers key considerations for managing emerging risks.
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SEC, DOJ close FCPA probes into USANA
Usana Health Sciences disclosed in a regulatory filing that the DOJ and SEC have closed their respective FCPA investigations into the company and will not be filing any charges.
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In time of crisis, Wirecard has turned to its would-be CCO to lead
Reeling from a $2 billion accounting scandal, Wirecard has turned to its would-be chief compliance officer as its interim CEO. It’s the first smart move the company has made in a while, writes Martin Woods.
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What are expectations of compliance at a negligent company like PG&E?
Financial crime expert Martin Woods wonders about the compliance priorities of a company found to be as reckless as Pacific Gas and Electric.