Petrobras refinery explosion reveals poor compliance of a different kind
When corruption-plagued Brazilian energy giant Petrobras overpaid for a Houston-area refinery by some $950 million, it raised more than a few eyebrows. And when that refinery suffered a large explosion and fire recently, it showed that failure to practice good safety and failure to practice good business ethics go hand-in-hand.
THIS IS MEMBERS-ONLY CONTENT
You are not logged in and do not have access to members-only content.
If you are already a registered user or a member, SIGN IN now.
Related articles
-
ArticleU.K. sets out strategy to combat bribery and corruption
The U.K. is introducing tougher safeguards and compliance checks in its latest drive to cut down on financial crime and stem the flow of dirty money that continues to be laundered by British businesses, facilitated by accountants and lawyers.
-
PremiumTop Ethics and Compliance Triumphs of 2025
This year’s compliance triumphs were all born out of compliance fails. In some cases, it was a regulator finding fault and demanding change. In others, acquiring companies noticed something a little fishy in their new acquisition. What formed a compliance triumph in every case wasn’t the mistake; it was the ...
-
OpinionBribery exposure doesn’t start with policy failure. It starts with training.
Anti-bribery and corruption failures in financial institutions rarely stem from bad policies.