Petrofac has been banned from competing for new contracts in the United Arab Emirates months after a former executive pleaded guilty to bribery in the U.K. over past work in the UAE.
LinkedIn was abuzz yesterday with news of one of China’s top bankers’ sentencing to death after he was found guilty of accepting $277 million in bribes. Capital punishment for government officials convicted of bribery in China is uncommon but not unheard of. But here’s what you may have… Continue Reading “Death sentence for China’s Top Banker guilty of bribery: should compliance Officers take note?”
BSA-AML Compliance Officers, take heed! A new whistleblower rewards program was approved by the U.S. Congress last week with important implications both for financial institutions and for foreign government officials trying to hide their stolen money in the United States.
What is happening in South Africa lately is so interesting. The results of the so-called “State Capture” investigation have produced some striking findings. South African authorities have investigated how several multinationals contracted with State-owned entities via the Gupta brothers (now exiled in Dubai), who in… Continue Reading “Multinational Companies Return Money to South Africa after Corruption Probes”
It’s that time of the year again! December 9th is International Anti-Corruption Day, a day all anticorruption practitioners duly mark on their calendar. But this year has been very different from previous years.
Compliance Officers may soon add the Australia Sanctions Regime to their compliance toolkit. Starting from next year individuals who commit serious human rights abuses and corruption might be banned from entering Australia and have their assets seized under new laws to be introduced to… Continue Reading “Australia Sanctions Regime To Target Corruption and Human Rights Violations”