All World Bank articles

  • Sanctions compliance TPRM
    Premium

    Panelists break down robust sanctions landscape at TPRM Summit

    2024-06-12T02:35:00Z

    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
    Article

    World Bank debars China Railway Construction, two subsidiaries

    2019-06-10T14:52:00Z

    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
    Article

    World Bank debars French, Brazilian subsidiaries of Veolia Water

    2019-05-29T19:39:00Z

    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

    2018-10-03T15:45:00Z

    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

    2018-08-06T10:00:00Z

    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

    2018-03-30T09:15:00Z

    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

    2018-02-22T15:30:00Z

    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

    2018-02-01T13:15:00Z

    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

    2017-12-21T21:30:00Z

    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

    2017-12-05T16:00:00Z

    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

    2017-07-07T11:15:00Z

    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

    2017-06-06T12:15:00Z

    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

    2017-05-02T12:45:00Z

    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

    2017-01-10T09:45:00Z

    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

    2016-11-11T10:15:00Z

    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

    2016-10-18T10:00:00Z

    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

    2016-05-03T11:15:00Z

    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

    2015-10-14T10:45:00Z

    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

    2015-07-24T11:15:00Z

    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

    2015-01-21T15:30:00Z

    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 ...