Swedbank announced the Swedish Financial Supervisory Authority has opened an investigation into the bank for potential violations of the regulation on market abuse in connection to the disclosure of suspected money laundering.
The chairman and chief executive of Big Four auditing firm EY says auditors should do more to uncover fraud while conducting external audits, a topic the industry has historically been reluctant to tackle.
In its IPO filing, foodservice packaging company Pactiv Evergreen (currently Reynolds Group Holdings Limited) announced it might have potentially violated the Foreign Corrupt Practices Act regarding gift cards given in China.
Online stock trading platform Robinhood last week announced the appointment of two chief compliance officers as it reportedly faces scrutiny from the SEC and FINRA regarding its March system outages.
Martin Woods explains how saying “I don’t know” helped him to learn and elicit the truth during his time as a financial crime compliance officer.
iQIYI announced it’s under investigation by the Securities and Exchange Commission over allegations the China-based video-streaming company overstated its revenues and subscriber numbers.
The more internal audit plays a key role in the strategic management of fraud, the more effective and robust organizations’ fraud risk management processes seem to be, according to the results of a recent Kroll/IIA survey.
The U.K. Financial Reporting Council announced the closure of its nearly three-year-long investigation into the financial statements of facility management firm Mitie Group for the year ended March 31, 2016.
Usana Health Sciences disclosed in a regulatory filing that the DOJ and SEC have closed their respective FCPA investigations into the company and will not be filing any charges.
The U.K. Financial Reporting Council has commenced three investigations into the audits of collapsed investment firm London Capital & Finance, including audits carried out by Big Four firms EY and PwC.
Denmark’s state prosecutor has dropped its investigation into whether Big Four firm EY violated anti-money laundering laws in connection with its audit of Danske Bank.
The U.K. Serious Fraud Office closed its bribery investigation into power and automation technology provider ABB after concluding the case “did not meet the relevant test for prosecution.”
The U.K. Financial Reporting Council has launched investigations into Big Four firms KPMG and PwC concerning the audits of U.K. logistics company Eddie Stobart Logistics.
Steven Peikin, co-director of the SEC’s Enforcement Division, said while coronavirus-related matters remain a top priority for the agency, “our other priorities also remain in place.”
Luckin Coffee, the China-based equivalent of Starbucks roiled by allegations of fabricating millions in 2019 sales, has fired its CEO and reshuffled top leadership as part of its ongoing internal probe.
Under investigation for suspected market manipulation, Wirecard has named James Freis as its new chief compliance officer amid several organizational changes.
For companies, compliance professionals, and lawyers who are currently conducting or about to begin complicated internal investigations remotely, we suggest a few practical pointers.
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.
The U.K. Financial Reporting Council has opened an investigation into EY’s audit of the 2018 financial statements of NMC Health, which is currently under investigation for accounting fraud.
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.
The Department of Justice has acted swiftly on its vow to crack down on fraud during the coronavirus pandemic, issuing its first related enforcement action against a Website acting as an alleged wire-fraud scheme.
Risks in the extractives and aerospace industries are still prevalent, but the number of overall global and U.S. enforcement cases involving bribery dropped in 2019, according to the latest report from TRACE International.
Tee International disclosed enhancements to its compliance, risk management, and internal controls amid an ongoing investigation by authorities in Singapore into its former group chief executive for allegedly stealing company funds.
The financial and operational implications of COVID-19 for businesses are vast and damaging. One area of business impacted is internal investigations. Here’s why tele-investigating isn’t all bad.
John Wood Group said in a regulatory filing it has reserved $46 million in a potential settlement with authorities in the United States, Brazil, and Scotland related to a bribery investigation concerning ties to Monaco-based oil services firm Unaoil.
A former U.S. Department of Justice attorney laid bare the tools in his “lie detection” toolbox to help compliance officers manage this responsibility.
A DOJ-appointed independent compliance monitor has some important advice for companies in trouble that may mean not just remediation credit, but more importantly reputation restoration and the avoidance of larger problems down the line.
The long-serving ethics officer for the National Credit Union Administration retired late last year after admitting to visiting strip clubs and drinking on the job, according to an internal investigation.
Dietary supplement maker Herbalife said in a regulatory filing it has set aside $40 million in accrued liability concerning an investigation into the company’s compliance with the Foreign Corrupt Practices Act in China.
Newell Brands disclosed in a regulatory filing it is facing a Securities and Exchange Commission subpoena over its sales and accounting practices, particularly related to the impairment of goodwill and other intangible assets.
A U.S-based accountant who was charged alongside three others for their alleged roles in a decades-long criminal scheme perpetrated by Panama-headquartered law firm Mossack Fonseca and related entities has pleaded guilty.
Mattel announced it has received a subpoena from the Securities and Exchange Commission seeking documents related to a previously disclosed investigation that had uncovered accounting errors.
Electric car maker Tesla announced in a regulatory filing that the Securities and Exchange Commission has closed a previously announced investigation while also launching another, this time into Tesla’s financing arrangements.
Airbus is free to go about its business after paying a record fine to three anti-corruption agencies for widespread bribery, but the trouble is only beginning for some of its implicated contractors.
The DOJ’s scrutiny of Google’s online ad business reflects growing concerns over the tech giant’s potentially anticompetitive behavior, prompts the reclusion of an antitrust enforcement official from the probe, and points to closer coordination between federal and state authorities.
AirAsia is doing damage control after executives at the budget airline were referenced as recipients of a $50 million bribe from plane maker Airbus in the latter’s $4 billion global bribery settlement.
Embattled aerospace giant Boeing is being investigated by the Securities and Exchange Commission, in addition to already facing scrutiny from the Department of Justice, following two plane crashes that happened less than five months apart.
Airbus confirmed it has reached a deal with authorities in the United States, the United Kingdom, and France to resolve long-running allegations of bribery and corruption. The settlement could reportedly be worth billions.
Compliance Week sat down with Clear Law Institute CEO Michael Johnson to discuss what attendees of his “Science of Workplace Investigations” online workshop can expect to learn, including how to best spot a lie.
The SEC’s Office of Compliance Inspections and Examinations’ priorities in 2020 foster its risk-based approach and find room for both Main Street investors and innovation.
Landec, an innovator of health and wellness solutions, has discovered and reported to U.S. regulators a “compliance issue” at its Yucatan Foods production facility in Guanajuato, Mexico. It now faces a government probe into possible FCPA violations
Glencore announced it is under investigation by the U.K. Serious Fraud Office over suspicions of bribery, making it the third investigation the multinational commodity trading and mining company is now facing.