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Today: ANTI-CORRUPTION DIGEST NEWS


The new home of the FCPA Newswire edited by Mike Kenealy
Sugarcoating extortion

Sugarcoating extortion

If the rule of law is not adequately enforced, it will be impossible to stanch corruption. In turn, it is not by chance that multinational companies face the most problems with bribery in countries with debased governments.

U.S. judge dismisses case against Wal-Mart over Mexico bribery

U.S. judge dismisses case against Wal-Mart over Mexico bribery

Wal-Mart Stores Inc (WMT.N) on Monday won the dismissal of a U.S. lawsuit accusing the world’s largest retailer of defrauding shareholders in its Wal-Mart de Mexico unit by concealing its suspected bribery of public officials in Mexico.

Featured Articles

FCPA Institute 

At a typical FCPA conference, participants are a face in the crowd and information is presented in a disjointed fashion by dozens of speakers appearing on multiple panels. The end result is that participants have little opportunity for actual engagement and active learning.

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Are you Stress Testing Compliance Red Flags and Touch Points?

Are you Stress Testing Compliance Red Flags and Touch Points?

Human intelligence – or HUMINT as it is called by its practitioners – is intelligence which is directly collected through interpersonal contact as opposed to more technical and often indirect intelligence collection methods. The following case demonstrates how a human intelligence collection operation can be utilized as a proactive and highly effective compliance countermeasure. Several years ago, a client came to us seeking assistance with a civil action involving an overseas insurance claim. The client alleged that the defendant, a well-known multinational company, was paying bribes to foreign officials and others to create bogus documents that were being used in their ongoing civil dispute.

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Anti-Corruption

When reputations risk running off the rails

When reputations risk running off the rails

It’s tough to turn down a sale in any business, but it’s a particular challenge when you’re a struggling aerospace and rail company on … Read More

Ethiopia arrests state minister for finance on suspicion of corruption

Ethiopia arrests state minister for finance on suspicion of corruption

Ethiopia has arrested its state minister for finance on suspicion of corruption, state-run television said on Friday, part of an … Read More

Explosive emails show ‘corrupt’ de Blasio donors had run of City Hall 

Explosive emails show ‘corrupt’ de Blasio donors had run of City Hall 

Mayor de Blasio claims he barely knew them, but explosive e-mails ­released Friday show that two of his major campaign donors who were … Read More

JUI-F protests against corruption in Sindh 

JUI-F protests against corruption in Sindh 

The JUI-F demonstrated in Mirpur Mathelo against corruption in Sindh. Thousands of activists of the JUI-F led by its Secretary General … Read More

Volkswagen fraud must lead to EU blacklisting

Volkswagen fraud must lead to EU blacklisting

BRUSSELS, August 03, 2017 – Reports that German car-maker Volkswagen fraudulently secured €400 million in loans from the European … Read More

Vatican justice branch sets anti-corruption goals for 2018 

Vatican justice branch sets anti-corruption goals for 2018 

After hosting a discussion earlier this summer, the Vatican office for justice has outlined several goals and action points in their … Read More

Governance and Ethics

Early gene-editing holds promise for preventing inherited diseases

Early gene-editing holds promise for preventing inherited diseases

It could pave the way for improved in vitro fertilization outcomes as well as eventual cures for some thousands of diseases caused by … Read More

Good Governance in the Not-for-profit Sector is Paramount 

Good Governance in the Not-for-profit Sector is Paramount 

Australia’s not-for-profit sector is fortunate to enjoy high levels of trust and confidence within the community. NFPs have earned thisRead More

CPA’s remaining directors to quit in wake of governance scandal 

CPA’s remaining directors to quit in wake of governance scandal 

The announcement was made late on Friday, as directors faced a growing push from dissident members for a spill of the entire board.

It’s a good thing to love food, just don’t obsess over the ethics of it

It’s a good thing to love food, just don’t obsess over the ethics of it

Hipster is the sort of word that summons up images of middle-aged men in dark glasses who listen to John Coltrane, even when nobody is … Read More

Tata Steel observes closing ceremony of Ethics 

Tata Steel observes closing ceremony of Ethics 

Jamshedpur, Aug. 3: Tata Steel observed the closing ceremony of the Ethics Month 2017, today, at the Steelenium Hall inside the Works … Read More

The ethical aspects of business education

The ethical aspects of business education

The question is whether present-day business schools are manufacturing managers programmed to make better business decisions or are … Read More

Anti-Money Laundering


Commonwealth Bank says ‘coding error’ explains alleged money-laundering breaches

Commonwealth Bank says ‘coding error’ explains alleged money-laundering breaches

SYDNEY (Reuters) – The Commonwealth Bank of Australia (CBA.AX) said on Monday a software “coding error” was responsible for the “vast … Read More

Wannacry money laundering attempt thwarted 

Wannacry money laundering attempt thwarted 

Victims paid more than $140,000 (£107,000) in bitcoins to recover files scrambled by Wannacry.

RBS Under FCA Investigation over Money Laundering Scheme

RBS Under FCA Investigation over Money Laundering Scheme

“On 21 July 2017 the FCA notified RBS that it is undertaking an investigation into RBS PLC’s compliance with the Money Laundering … Read More

How CBA recruited AUSTRAC executives 

How CBA recruited AUSTRAC executives 

The Australian Prudential Regulation Authority gave a presentation to the Basel Committee on Banking Supervision in October 2001 … Read More

ICOs may be a boon to money laundering, regulators are watching bitcoin, ethereum and other cryptocurrencies

ICOs may be a boon to money laundering, regulators are watching bitcoin, ethereum and other cryptocurrencies

Cryptocurrencies have exploded in popularity in recent years that has led to a red-hot fundraising trend where start-ups bring in … Read More

Drug Rings Use ATMs to Launder Money, Bitcoin Not Involved

Drug Rings Use ATMs to Launder Money, Bitcoin Not Involved

Austrac, Australia’s financial crime control agency, has alleged that the Commonwealth Bank of Australia had delayed or failed to … Read More

Cyber Risk


Modelling cyber risk: FAIR’s fair? 

Modelling cyber risk: FAIR’s fair? 

Of all the potential loss events banks’ operational risk managers are tasked with trying to model, cyber attacks are among the … Read More

WannaCry cyber attack: Bitcoin wallets linked to this emptied

WannaCry cyber attack: Bitcoin wallets linked to this emptied

The three Bitcoin wallets that are linked to the WannaCry malware, which hit hundreds of thousands of networks using MicrosoftCorp’s … Read More

New Anthem Breach Underscores the Need for Effective Cyber Risk Management

New Anthem Breach Underscores the Need for Effective Cyber Risk Management

Insurer Anthem recently began notifying 18,580 of its members that their personal information may have been exposed when an employee of Read More

Thailand ranks No.22 in cyber risk study

Thailand ranks No.22 in cyber risk study

In an earlier version of the study it ranked No.15 but due to the number of countries sharing the same positions, its updated placement Read More

Cyber risk, Libor replacement and dangers of low rates

Cyber risk, Libor replacement and dangers of low rates

Nothing seems to last quite as long as a temporary state of affairs. This week, fund managers voiced concerns on two aspects of the … Read More

Judge Sets $30K Bail for Cyber Expert Accused in Malware Case 

Judge Sets $30K Bail for Cyber Expert Accused in Malware Case 

LAS VEGAS — A U.S. judge in Law Vegas set a $30,000 bail on Friday for a famed British cyber security researcher accused of advertisingRead More

Security Risks


Hospital machines created with cyber security flaws run a risk of being hacked

Hospital machines created with cyber security flaws run a risk of being hacked

AUGUSTA, Ga. (WRDW/WAGT) — Patient files are only the tip of the iceberg when it comes to cyber security problems in healthcare.

Fake history is worse than fake news 

Fake history is worse than fake news 

On July 22, the Hungarian Prime Minister, Viktor Orban, stood before university students and delivered a speech titled ‘Will Europe … Read More

How to avoid fake hotel booking scams

How to avoid fake hotel booking scams

August is one of the busiest vacation months of the year, and up to 80 percent of travelers book their trips or hotel reservations … Read More

Commonwealth Bank’s tellers sounded the alarm on lack of security

Commonwealth Bank’s tellers sounded the alarm on lack of security

Suburban Commonwealth Bank staff raised the alarm about the organisation’s “crazy” lack of security­ measures that allowed tens of … Read More

Airlines vary on reaction to likely increased security

Airlines vary on reaction to likely increased security

The nation’s major airlines have either said they will work with authorities in the face of an expected widespread security … Read More

Citizenship overhaul risks creating an underclass

Citizenship overhaul risks creating an underclass

Labor frontbencher Tony Burke says Immigration Minister Peter Dutton’s citizenship overhaul risks creating an underclass of immigrants … Read More

North America


Wells Fargo’s latest scandal a sign fines, lawsuits not enough 

Wells Fargo’s latest scandal a sign fines, lawsuits not enough 

In 2013, the Los Angeles Times broke the story of an immense scandal involving the fraudulent opening of accounts in customers’ names … Read More

Arizona drug company may pay Illinois $4.5M over opioid lawsuit 

Arizona drug company may pay Illinois $4.5M over opioid lawsuit 

An Arizona drug company is preparing to spend as much as $4.5 million to potentially settle a lawsuit brought against it by Illinois … Read More

FBI opened 5,000 corruption probes over 4 year span

FBI opened 5,000 corruption probes over 4 year span

The FBI in a statement released August 2016 said that in the preceding four years, it initiated nearly 5,000 investigations into public Read More

Martin Shkreli – once dubbed ‘most hated man in America’ 

Martin Shkreli – once dubbed ‘most hated man in America’ 

A federal jury has found Martin Shkreli guilty on multiple criminal securities fraud charges, and faces years in prison once he is … Read More

Bulgarian banker seeking US help under Magnitsky law 

Bulgarian banker seeking US help under Magnitsky law 

A Bulgarian ex-banker is pushing to be the first case considered under the Global Magnitsky Human Rights Accountability Act, a law … Read More

Charges officially dropped against Arthur Porter, two years after his death 

Charges officially dropped against Arthur Porter, two years after his death 

MONTREAL — Criminal charges against the doctor accused of committing what Quebec authorities described as the biggest corruption fraud … Read More

Latin America


Venezuela suspended from South American trade bloc

Venezuela suspended from South American trade bloc

South American trade bloc Mercosur has suspended Venezuela indefinitely in a symbolic show of force following President Nicolás … Read More

The Anti-Corruption Revolution

The Anti-Corruption Revolution

During rush week, aspiring frat boys endure all manner of indignities. They all want to join the exclusive club, and they’re willing to Read More

Mexican Firms Paid $89.5M in Bribes in 2016

Mexican Firms Paid $89.5M in Bribes in 2016

Mexico City (CNSNews.com) – Mexican anti-corruption advocates are giving an enthusiastic thumbs up to sweeping new anti-corruption law … Read More

Panama’s Workers Reject Corruption, Demand Constituent Assembly

Panama’s Workers Reject Corruption, Demand Constituent Assembly

“The Odebrecht scandal is the drop that has overflowed the glass of Panamanian’s patience, but Odebrecht is not the only company that … Read More

Unclaimed property scam imitates state, asks for fees 

Unclaimed property scam imitates state, asks for fees 

The state’s attorney general is asking Indiana residents to take care in verifying the legitimacy of offers that claim they may have … Read More

Opposition’s Leopoldo Lopez ‘returned to house arrest’ 

Opposition’s Leopoldo Lopez ‘returned to house arrest’ 

Venezuelan opposition leader Leopoldo Lopez was returned to house arrest on Saturday after being detained in military prison for four … Read More

Asia


Day of reckoning approaches for Samsung successor, caught in corruption case 

Day of reckoning approaches for Samsung successor, caught in corruption case 

SEOUL — After four months of laying out their case against Samsung’s heir apparent, South Korean prosecutors will on Monday call … Read More

China expels anti-graft inspector from party for corruption 

China expels anti-graft inspector from party for corruption 

China’s anti-graft watchdog said on Wednesday that one of its former senior inspectors had been expelled from the Communist Party after Read More

Vietnam widens crackdown on corruption-contaminated public sector

Vietnam widens crackdown on corruption-contaminated public sector

In a country where many anti-corruption measures have been dismissed as window dressing, back-to-back critical developments in a week … Read More

Immigration NZ staff investigated for corruption and fraud after visas issued to family, friends

Immigration NZ staff investigated for corruption and fraud after visas issued to family, friends

Immigration New Zealand officials are being investigated for granting visas and residency to family and friends, a Herald investigationRead More

Protecting from corruption in the Asia-Middle East shipping industry 

Protecting from corruption in the Asia-Middle East shipping industry 

Trade has grown tremendously between Asia and Middle East in recent years and a significant portion of trading is conducted via the … Read More

Malaysia: Penang finally signs anti-corruption pledge 

Malaysia: Penang finally signs anti-corruption pledge 

The Penang state government signed the corruption-free pledge today in George Town August 4, 2017. — Picture by Opalyn Mok

Europe


SNP group urge North Lanarkshire Council leader to stand down amid corruption allegations 

SNP group urge North Lanarkshire Council leader to stand down amid corruption allegations 

SNP business manager Councillor Allan Stubbs said: “Like everyone else in Scotland, Councillor Logue has the right to be considered … Read More

UK’s Serious Fraud Office opens investigation into BAT bribery claims 

UK’s Serious Fraud Office opens investigation into BAT bribery claims 

British American Tobacco  is being investigated for possible fraud regarding company activities in Africa, it announced on Tuesday.

France Updates Whistle-Blower Hotline Privacy Guidance

France Updates Whistle-Blower Hotline Privacy Guidance

France’s privacy office has issued new guidance on whistle-blower hotlines in its latest update to 2005 guidelines aimed at resolving aRead More

What Chavez did to Venezuela, Corbyn could do to Britain

What Chavez did to Venezuela, Corbyn could do to Britain

The crisis in Venezuela is a damning indictment of socialism. On paper, it promises equality and justice. In practice, it delivers … Read More

Excommunication could be tool for fighting corruption, organized crime

Excommunication could be tool for fighting corruption, organized crime

A Vatican consultation group will consider initiatives to bolster the fight against corruption and organized crime, including by … Read More

How well did Ukraine implement anti-corruption conditionalities in July? 

How well did Ukraine implement anti-corruption conditionalities in July? 

Ukraine’s parliament is off for summer recess without adopting the bill on a truly independent anti-corruption court. However, it also … Read More

Middle East


UAE ambassador embroiled in global corruption scandal 

UAE ambassador embroiled in global corruption scandal 

Yousef Al-Otaiba, the UAE’s ambassador to the United States, is alleged to be involved in a major global corruption scandal.

Tunis: 35 custom officers to appear before disciplinary council 

Tunis: 35 custom officers to appear before disciplinary council 

Tunisia’s Ministry of Finance has ordered 35 custom officers to appear before a disciplinary council for “professional … Read More

Benjamin Netanyahu suspected of bribery, fraud and breach of trust 

Benjamin Netanyahu suspected of bribery, fraud and breach of trust 

Benjamin Netanyahu is suspected of having committed bribery, fraud and breach of trust, Israeli police have confirmed.

Pakistan elects stop-gap prime minister following corruption scandal

Pakistan elects stop-gap prime minister following corruption scandal

Pakistan’s parliament has voted to elect a stop-gap Prime Minister after the longest-serving civilian leader in its history, Nawaz … Read More

IMF’s Initial Steps on Corruption Issue

IMF’s Initial Steps on Corruption Issue

The International Monetary Fund is best known for doling out financial advice to governments and supporting programs that it believes … Read More

Israel’s Netanyahu attempts to convey calm amid corruption charges

Israel’s Netanyahu attempts to convey calm amid corruption charges

JERUSALEM — Israeli Prime Minister Benjamin Netanyahu’s circle attempted to convey calm Sunday amid reports of a slew of corruptions … Read More

Africa


Ethiopia state minister for finance arrested in anti-corruption crackdown

Ethiopia state minister for finance arrested in anti-corruption crackdown

Ethiopia has arrested its state minister for finance on corruption charges, state-run television said on Friday, but offered no furtherRead More

SA business must own up to its part in the corruption scandals

SA business must own up to its part in the corruption scandals

If nothing else, the Gupta leaks have shown us how perilously close South Africa is to losing everything so many people fought so hard … Read More

Kenyan activist stands for parliament on anti-corruption programme 

Kenyan activist stands for parliament on anti-corruption programme 

Boniface Mwangi, who is standing in Nairobi’s Starehe constituency, is an activist-turned-candidate, notorious for leading years of … Read More

Nigeria: Banks record decline in fraud, forgeries 

Nigeria: Banks record decline in fraud, forgeries 

The banking industry recorded a decline in the rate of successful fraud incidences and extent of amount of losses in 2016, compared to … Read More

Nigeria is built on falsehood, deception and corruption, says Osoba 

Nigeria is built on falsehood, deception and corruption, says Osoba 

Chief Olusegun Osoba, former governor of Ogun State was a member of the merger committee that gave birth to the All Progressives … Read More

Bob Mugabe and the phantom of a national hero

Bob Mugabe and the phantom of a national hero

It happened in slow motion. The nation watched Robert Mugabe become the national hero who somehow defied all manner of common … Read More


About Anti-Corruption Digest

Anti-Corruption Digest is your source for international risk and compliance related news, insights and best practices. Anti Corruption Digest features various corporate compliance issues such as money laundering, business ethics, government ethics, compliance, and cyber risks from around the world. Anti-Corruption Digest is the new home of the Foreign Corrupt Practices Act (FCPA) Newswire edited by Mike Kenealy.

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