The U.S. Department of Justice has joined the U.K. Serious Fraud Office in an ongoing investigation into plane maker Bombardier over suspected bribery and corruption relating to contracts and orders from airline carrier Garuda Indonesia.
Pactiv Evergreen said it will not face an enforcement action by the Department of Justice, following an internal investigation launched last year into potential violations of the Foreign Corrupt Practices Act.
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Robert Mazur, the famous undercover agent portrayed in the 2016 film “The Infiltrator,” delivered an hour-long keynote at CW’s Financial Crimes virtual event in March.
The coronavirus pandemic dramatically altered incident reports and investigations in 2020. Despite facing unprecedented challenges, as analyzed in NAVEX Global’s latest benchmark study, compliance officers met the moment.
Former federal agent Robert Mazur revealed secrets of the money-laundering trade to attendees of CW’s Financial Crimes virtual event and proposed two solutions for financial institutions in the fight against bad actors.
Volkswagen’s supervisory board has accused former CEOs Martin Winterkorn (Volkswagen) and Rupert Stadler (Audi) of negligent breaches of duty during the diesel scandal.
Despite a banner year for resolutions under the Foreign Corrupt Practices Act in 2020, U.S. enforcement of the anti-bribery law dropped 29 percent when compared to 2019, according to the latest Global Enforcement Report by TRACE International.
The long-awaited 2021 examination priorities of the Securities and Exchange Commission were released Wednesday, with climate- and ESG-related risks unsurprisingly among areas that will receive enhanced focus.
The acting head of the Securities and Exchange Commission has expanded the number of staff authorized to issue a formal order of investigation, perhaps a sign the agency intends to launch more cases under President Joe Biden.
The ability of the SEC to pursue the return of profits earned in fraudulent schemes has been strengthened as part of Congress’ passage of the National Defense Authorization Act for Fiscal Year 2021.
As the compliance world evolves, the skill sets needed by practitioners are changing. The ability to run investigations effectively is now highly prized, and key skills, such as understanding the use of technology, will be among the most fundamental in the years ahead.
U.S. Congress’ defense spending bill requiring corporations to identify who owns and controls them is a significant milestone in the global effort to put an end to anonymous shell companies, writes Martin Woods.
The creation of an independent, competent “Ombuds” function could be used by companies to respond to certain key requirements in the EU’s Whistleblower Protection Directive.
Get the covid-adjusted data on how peers around the world have experienced report volume, anonymous reporting, and investigation performance throughout 2020.
Compliance investigations are fraught with challenges from start to finish—from the pre-planning stage through the presentation of the final report detailing the factual findings.
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.