All Anti-Corruption articles – Page 38
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ArticleSwiss AG latest investigating Glencore for corruption
Glencore is under criminal investigation by the Office of the Attorney General of Switzerland over corruption allegations, adding to the growing list of scrutiny the multinational commodity trading and mining company is facing.
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ArticleAnalysis: Learning to learn from our mistakes with AML
Scientists and doctors cannot succeed or make medical breakthroughs without being prepared to fail. The same approach should be taken to combating anti-money laundering, writes financial crime expert Martin Woods.
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ArticleFCA fines Commerzbank London $47.4M for AML failures
Commerzbank London will pay a £37.8 million (U.S. $47.4 million) penalty in a settlement with the U.K. Financial Conduct Authority for anti-money laundering systems and controls failures.
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ArticleU.S. regulators boast coordination in addressing coronavirus fraud
Testimony provided by several agencies before a U.S. Senate Judiciary Committee hearing offers valuable insights for chief compliance and risk officers regarding where coronavirus fraud threats may lurk, especially in the financial services and healthcare sectors.
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ArticleAnalysis: Path to effective AML is doing less with more
The answer to being more effective at stopping money launderers is to challenge the value of processes that are clearly failing. Financial crime expert Martin Woods explains.
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ArticleAnalysis: Let Westpac’s missteps be a cautionary tale
By balking at original allegations, Westpac opened itself to infinitely more harm, writes financial crime expert Martin Woods.
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ArticleDanske faces criminal complaint over market abuse violations
Denmark’s financial regulator has filed a criminal complaint against Danske Bank for violating market abuse regulations concerning inadequate market monitoring and opposite trades.
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ArticleA country-by-country analysis of anti-corruption efforts in Latin America
CCOs looking to navigate the fluid corruption risk environment in Latin America will want to review a newly released report on how countries are uncovering, punishing, and deterring corruption—particularly now, amid a pandemic.
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ArticleAnalysis: Don’t ignore financial misconduct in ‘plane’ view
Compliance officers must let go of the fear that often accompanies respect for big money (or luxurious aircrafts) and hold the difficult conversations when ferreting out bad actors, writes financial crime expert Martin Woods.
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ArticleEuropol launches new financial and economic crime body
Europol has created the new European Financial and Economic Crime Center, with the aim of enhancing operational support to EU member states and EU bodies in the fields of financial and economic crime.
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ArticleWestpac outlines compliance failures that led to AML breaches
An internal report outlining compliance failures by Australia-based financial institution Westpac that led to 23 million breaches of the country’s AML/CTF laws concluded “a mix of technology and human error” were to blame.
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ArticleHow to scour your organization for pandemic fraud risks
“Only when the tide goes out do you discover who’s been swimming naked,” said Warren Buffett. With the pandemic tide out, here are some related frauds that are likely already occurring that corporations should be watching for.
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ArticleEricsson appoints DOJ-mandated compliance monitor
Ericsson announced the appointment of Andreas Pohlmann as its independent compliance monitor for the next three years in accordance with a deferred prosecution agreement reached with the Department of Justice over FCPA violations.
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ArticleAnalysis: When a bonus becomes less incentive, and more compromise
Financial crime expert Martin Woods explores what happens when the annual bonus causes employees to disregard their values for want of a dollar.
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Resourcee-Book: FCPA at forefront of fight against corruption
You can’t hide from the Foreign Corrupt Practices Act, even if you are a powerful government regime. Just ask Venezuelan President Nicolás Maduro, who—along with others in his administration—were taken down in late March for violating certain provisions of the formidable anti-corruption law.
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ArticleInvestigation into EY’s audit of Danske Bank dropped
Denmark’s state prosecutor has dropped its investigation into whether Big Four firm EY violated anti-money laundering laws in connection with its audit of Danske Bank.
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ArticleSFO closes bribery investigation into ABB
The U.K. Serious Fraud Office closed its bribery investigation into power and automation technology provider ABB after concluding the case “did not meet the relevant test for prosecution.”
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ArticleWhy a ‘don’t put that into writing’ request should raise a red flag
The next time someone tells you not to take notes during a meeting, think about why they’re making that request. It’s almost never a good idea to agree to it, writes financial crime expert Martin Woods.
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ArticleAnalysis: How to handle the heat of boiler room fraud
Financial crime expert Martin Woods explains how compliance professionals can do their part in rooting out boiler room/investment frauds, citing a recent story from a call center in Kiev.
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ArticleAnalysis: Opportunity knocking for coronavirus criminals
Financial crime expert Martin Woods explores how bad actors use crises like the coronavirus pandemic to exploit fear, perceived weaknesses, and obvious vulnerabilities and further their criminal enterprise.