Earlier this month, the U.K.’s Serious Fraud Office charged two former Unaoil executives with corruption for allegedly paying bribes to win lucrative contracts in Iraq on behalf of its client SBM Offshore, a company that produces floating containers for use in oil production. Another former director who is living in Monaco is subject to an extradition request.

Neil Hodge is a freelance business journalist and photographer based in Nottingham, United Kingdom. He writes on insurance and risk management, corporate governance, internal audit, compliance, and legal...