“Global Glimpses” follows compliance, risk, and corporate governance news both in Europe and around the world. It covers developments at the International Accounting Standards Board, as well as global regulation, anti-bribery, and corruption enforcement, along with other compliance developments abroad. Global Glimpses is written by contributor Paul Hodgson. Hodgson welcomes questions, comments, and statements from readers on global issues and will address them here when appropriate. Readers can contact him at firstname.lastname@example.org.
A U.S. federal judge this week ordered Odebrecht to pay $2.6 billion in fines for violations of the Foreign Corrupt Practices Act, securing a plea deal reached last year with authorities in the United States, Brazil, and Switzerland.
Tesco Stores will pay a £129 million (U.S.$161.4M) fine over a 2014 misstatement of the retailer’s profits. The fine, part of a deferred prosecution agreement with the Serious Fraud Office, is a clarion call for all companies to strengthen their internal controls.
Handling the heavy lifting of a proper Brexit is going to be no small task, especially since nobody wants a great “vacuum period” between the U.K. Great Repeal Bill and whatever regulations are to follow.
An effective AML program is far more than just a written protocol; it is a blend of best practices put into effect every day throughout the organization. Here are five ways to make sure your AML program is running at peak efficiency.