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Unaoil bribery scandal offers harsh lesson in due diligence controls

Jaclyn Jaeger | April 19, 2016

A special report published this month by Fairfax Media and The Huffington Post, uncovering a vast trove of leaked e-mails and confidential documents, reads more like a Tom Clancy novel than true-to-life business dealings, rich in international plots, secret meetings, late-night phone calls, code names, and much more. A six-month investigation by these media outlets exposed an extensive global web of bribery and corruption, in which high-ranking bureaucrats and politicians awarded billions of dollars in government contracts in exchange for bribes paid on behalf of some of the world’s largest companies.

The heart of the Fairfax Media and The Huffington Post investigation, “The Bribe Factory,” focuses on Unaoil. Owned by the wealthy...

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