All South America articles
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News BriefDeloitte Colombia fined $900K by PCAOB for quality control violations
A Colombian affiliate of Big Four audit firm Deloitte agreed to pay $900,000 as part of a settlement with the Public Company Accounting Oversight Board addressing alleged quality control lapses that occurred during the 2016 audit of a bank.
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News BriefPCAOB fines three in latest reporting requirement sweep
The Public Company Accounting Oversight Board continued its crackdown on reporting requirement violations with penalties against three audit firms, including a BDO affiliate.
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News BriefGrupo Aval to pay $81M in landmark FCPA case
Colombian conglomerate Grupo Aval agreed to pay nearly $81 million as part of settlements addressing alleged bribes paid by its bank subsidiary Corficolombiana to win a highway construction contract.
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PremiumKroll survey: Firms rapidly adopting AI tools for financial crime compliance
A new survey of senior leaders and risk professionals from around the world found more than half the respondents have turned to artificial intelligence technology to address a perceived rise in financial crime risks, although most solutions are still rather new.
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Blog
Mariva Capital Markets recruits CCO from Beta Capital Securities
Financial services veteran Robert Lebowitz joined Mariva Capital Markets as chief compliance officer.
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News BriefIRB Brasil to pay shareholders $5M over CFO’s claims
Brazilian reinsurance company IRB Brasil RE agreed to pay $5 million to harmed investors after its former chief financial officer allegedly lied about Berkshire Hathaway investing in the company.
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News BriefUphold HQ fined $72K in OFAC sanctions case
Uphold HQ will pay $72,230 to settle charges levied by the Office of Foreign Assets Control that it processed sanctioned transactions for persons in Iran and Cuba and government employees in Venezuela.
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News BriefVale to pay $55.9M in SEC settlement over dam disclosures
Brazilian mining company Vale agreed to pay $55.9 million to settle Securities and Exchange Commission charges it issued false and misleading statements regarding the safety conditions of its dams.
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PremiumTRACE enforcement report highlights anti-bribery trends from 2022
The United States broke from a three-year downturn in bribery-related enforcement actions, while Brazil continued its emergence in the space, according to the results of the latest annual Global Enforcement Report by nonprofit TRACE.
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News BriefJBS accused of greenwashing in SEC whistleblower complaint
Brazilian meat processing company JBS faces accusations of issuing $3.2 billion worth of “misleading and fraudulent” sustainability bonds in a whistleblower complaint filed with the Securities and Exchange Commission.
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ArticleHoneywell to pay $203M over bribery claims in Brazil, Algeria
Honeywell International agreed to pay $202.7 million to settle charges it paid bribes to obtain contracts with government entities in Brazil and Algeria in violation of the Foreign Corrupt Practices Act.
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ArticleThree KPMG firms disciplined in $7.7M enforcement sweep
The Public Company Accounting Oversight Board announced $7.7 million in total penalties against three separate KPMG firms and four individuals for varying violations of audit standards and ethical rules, including alleged exam cheating.
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ArticleInsurance broker Gallagher latest target of DOJ Ecuador probe
Insurance broker Arthur J. Gallagher is under investigation by the Department of Justice related to its business in Ecuador.
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ArticleNodusBank avoids fine in OFAC case over Venezuela sanctions violations
Nodus International Bank was found to have violated U.S. sanctions against Venezuela by the Office of Foreign Assets Control for allowing three unlicensed transactions on a blocked account.
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ArticleCompass Minerals fined $12M for disclosure control lapses
Compass Minerals International, a Kansas-based mining company, agreed to pay a $12 million fine to the Securities and Exchange Commission to resolve allegations deficiencies in its disclosure controls led to failures at facilities it operates in Canada and Brazil.
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Article
JBS names global chief sustainability officer
JBS, the world’s largest meat processing company, announced the appointment of Jason Weller as its first global chief sustainability officer.
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ArticleBrazil airline Gol settles FCPA bribery charges for $41M
Brazilian airline Gol agreed to pay $41 million as part of reduced settlements addressing bribery investigations conducted by authorities in the United States and Brazil.
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Article
JBS appoints global chief ethics and compliance officer
Global meat processing company JBS announced the appointment of Michael Koenig as global chief ethics and compliance officer.
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ArticleAmerican Express to pay $430K for violations of sanctions against drug kingpin
A subsidiary of American Express agreed to pay $430,500 to settle charges its network processed 214 transactions on behalf of a Venezuelan drug kingpin who was designated on the U.S. sanctions list, according to the Office of Foreign Assets Control.
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ArticleFCA fines JLT Specialty $9.7M for financial crime control lapses
The U.K. Financial Conduct Authority fined a unit of insurance broker Jardine Lloyd Thompson Group 7.9 million pounds (U.S. $9.7 million) for failing to control financial crime within its South and Central American subsidiaries.