All Anti-Corruption articles – Page 41
-
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.
-
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.
-
ArticleWestpac announces more executive changes amid investigation
Amid a money-laundering investigation and faced with allegations of facilitating child exploitation in the Philippines and Southeast Asia, Westpac has appointed a new head of financial crime compliance.
-
ArticleAnalysis: Fraud in Germany propels new European AML plan
Financial crime expert Martin Woods reviews the “cum-ex” scandal and how a recent action plan from the European Banking Authority aims to help stop such schemes from burgeoning.
-
ArticleJosh Drew led by example in getting VEON through DPA
CW’s Compliance Comeback of the Year Josh Drew, group chief ethics & compliance officer at VEON, discusses the challenges he faced when rebuilding the company’s ethics and compliance program under a monitor’s watchful eye.
-
ArticleEC unveils six-point plan to tackle money laundering
The European Commission’s new six-point plan highlights what measures the agency will take to enforce, supervise, and coordinate EU rules on combating money laundering and terrorist financing.
-
ArticleEx-Walmart lawyer alleges ‘retaliatory’ firing for Mexico report
A former member of Walmart’s legal team is suing the retail company for what he alleges was a “retaliatory, negligent, and careless” investigation ultimately resulting in wrongful termination.
-
ArticleAnalysis: Oil collapse leaves Singapore traders scrambling
Recent fraud complaints at oil traders in Singapore highlight the risks in the international business of commodity finance, where high prices provide high rewards and low prices can leave lenders exposed.
-
ArticleAnalysis: The problem with keeping a secret
You can’t hide behind the numbers, as numerous banks, including Bank Hapoalim, found out recently when rampant tax evasion took hold in Switzerland.
-
ArticleWorld Acceptance sets aside $22M to resolve SEC FCPA probe
World Acceptance Corporation announced it has recorded an aggregate accrual of $21.7 million to resolve an SEC investigation into alleged violations of the Foreign Corrupt Practices Act.
-
ArticleHerbalife nears $123M FCPA resolution
Dietary supplement maker Herbalife said in a regulatory filing it has set aside a total of $123 million in accrued liability concerning SEC and DOJ investigations into alleged violations of the Foreign Corrupt Practices Act in China.
-
ArticleCoronavirus fallout: Four ways to manage fraud risk
The spread of the coronavirus has elevated the visibility of fraud for the general public and exposed to senior management in firms the seriousness of the consequences of underestimating the threat.
-
ArticleJustice Department to recover more than $49M involving 1MDB
The Department of Justice reached a settlement to recover more than $49 million in assets associated with the international money laundering and bribery scheme involving Malaysia’s state development fund 1MDB.
-
ArticleAlexion nears $25M settlement with SEC in FCPA probe
Alexion Pharmaceuticals said in a regulatory filing that it is nearing a $25 million settlement with the Securities and Exchange Commission concerning an investigation into the company’s compliance with the Foreign Corrupt Practices Act spanning various countries.
-
ArticleCyber-criminals have supply chains, too
All cyber-attacks leave a trail. These trails can be complex, of course, but the criminals cannot avoid them. Thus, they leave a supply chain of intelligence and data.
-
ArticleAt urging of compliance committee, Samsung head apologizes for bad behavior
Jay Lee admitted Samsung “has not strictly complied with laws and ethics” at a press conference organized by the company’s new compliance oversight committee.
-
ArticleLesson from Westpac: If you can’t do the simple things correctly, watch out
If a bank or a firm cannot execute on the simple things, such as cash transaction reporting, there is little reason to be confident of compliance in other more complex and challenging areas.
-
ArticleBank Hapoalim’s bad day: $904M in tax evasion, FIFA fines
Israel’s largest bank and its Swiss subsidiary will pay a total of $904 million in separate DOJ settlements related to (1) a massive tax-evasion scheme and (2) its role in a money-laundering conspiracy with FIFA.
-
ArticleWatch out: Why luxury wristwear could be sign of corruption
Financial crime expert Martin Woods reviews the DOJ’s recent charges against ex-FBI agent Babak Broumand and how a gold Rolex watch led down a path of alleged corruption.
-
Resourcee-Book: 2020 Anti-Bribery & Corruption Benchmarking Report
The report explores how companies tackle their third-party risk, use “enhanced due diligence” to boost their ABC programs, and how much and what types of training they employ to tackle risk.