All World Bank articles

  • Sanctions compliance TPRM

    Panelists break down robust sanctions landscape at TPRM Summit


    Sanctions compliance officers face myriad challenges as complex geopolitical situations heighten risks worldwide, experts discussed during Compliance Week’s Third-Party Risk Management & Oversight Summit.

  • CRCC building

    World Bank debars China Railway Construction, two subsidiaries


    The World Bank announced the nine-month debarment of China Railway Construction Corp. and two of its subsidiaries concerning misconduct under a highway project in Georgia.

  • Veolia

    World Bank debars French, Brazilian subsidiaries of Veolia Water


    The World Bank has debarred two subsidiaries of Veolia Water Technologies for fraudulent and collusive practices during a bidding process under the Río Bogotá Environmental Recuperation and Flood Control Project in Colombia.

  • Blog

    World Bank Group issues first Sanctions System Annual Report


    The World Bank Group debarred 78 firms and individuals during fiscal year 2018, according to its inaugural Sanctions System Annual Report, issued on Oct. 3.

  • Blog

    World Bank debars Chinese information-technology company


    The World Bank on Aug. 1 announced the 15-month debarment of China-based Jiangsu Zhidehuatong Information Technology in connection with fraudulent practices as part of the Hubei Xiangyang Urban Transport Project in China.

  • Blog

    World Bank debars medical-device company, two others


    The World Bank has debarred three companies and reached a settlement with one company concerning sanctionable practices under projects in Bangladesh, India, and Timor-Leste.

  • Blog

    World Bank debars Pak Elektron Limited


    The World Bank has debarred three companies and a former general manager for engaging in collusive practices during bidding on contracts in Pakistan.

  • Blog

    World Bank Group debars three companies in Argentina


    The World Bank has debarred three companies in Argentina in connection with the companies’ fraudulent practice of knowingly misrepresenting work progress during a contract under the Second Provincial Agricultural Development Project in Argentina.

  • Blog

    Groups propose new structure for global auditing standards


    A group of international regulators and financial institutions is proposing a new mechanism to set standards for auditing in global capital markets.

  • Blog

    World Bank: Sediver SAS debarred for two years


    The World Bank Group today announced the debarment for two years of Sediver SAS, a Paris-based manufacturing company for power transmission components, in connection to sanctionable misconduct under the Southern Africa Power Market Project in the Democratic Republic of the Congo.

  • Blog

    World Bank sanctions CDM Smith


    CDM Smith has been sanctioned by the World Bank for failing to disclose a sub-consulting agreement for a project in Vietnam.

  • Article

    A deep dive into the World Bank’s investigation process


    Debarments from the World Bank are just one way in which companies can run afoul of serious compliance problems if they are not careful.

  • Blog

    World Bank names vice president of integrity


    World Bank Group President Jim Yong Kim announced the appointment of Pascale Helene Dubois as World Bank Group Vice President for Integrity, effective July 1.

  • Article

    New report scores public procurement regulatory systems


    For the first time, you can now check the scores of public procurement regulatory systems in 180 different countries, thanks to a new benchmark report by the World Bank. Jaclyn Jaeger reports.

  • Blog

    World Bank appoints general counsel


    The World Bank Group has appointed Sandie Okoro as World Bank Group senior vice president and general counsel.

  • Article

    How the World Bank credits compliance efforts


    Getting debarred by the World Bank for corruption is bad, but firms taking serious steps to build better compliance afterward show a path to redemption. Jaclyn Jaeger reports.

  • Article

    How not to be sanctioned by the World Bank


    Justice Dept. enforcement actions for anti-corruption law violations often garner the most attention, but multilateral development banks are also major players in the anti-corruption global arena, adding more compliance risk. CW’s Jaclyn Jaeger on how to avoid being sanctioned.

  • Article

    World Bank Tries Procurement Reform to Cut Corruption Risk


    Sweeping changes to the World Bank’s policies and procedures are afoot that will make the procurement process more consistent and transparent for companies bidding on bank-funded contracts. One big focus: how to reduce bribery and corruption in the procurement process. That will be a mixed bag for compliance officers—more attention ...

  • Blog

    World Bank Procurement Framework Approved


    The World Bank’s board of directors has approved a new policy governing the procurement of projects financed by the Bank. According to the World Bank, this “once-in-a-generation systematic reform and culture change” will allow it “to better respond to the needs of client countries, while preserving robust procurement standards throughout ...

  • Article

    Meeting the World Bank in Enforcement Actions


    When the Justice Department settled corruption charges against Alstom SA in December, it did not require a compliance monitor—because Alstom already had one, appointed by the World Bank. How does the bank’s integrity office work? What risks do you have? Lots. “You can be a perfect company today, but if ...