The World Bank’s excellent publication Left out of the Bargain — Settlements in Foreign Bribery Cases and Implications for Asset Recovery (available here in pdf) highlights the thorny issue of how international anti-corruption enforcement can best repatriate tainted assets and proceeds to the victim countries in line with Chapter 5 of United Nations Convention against Corruption.… Continue Reading
After analyzing almost 400 cases over 13 years, the World Bank reports that only 3.3 percent of $6 billion in fines have been shared with developing countries whose officials accepted bribes.… Continue Reading
Company Involved: Petroleum Development Oman (PDO), Galfar Engineering and Contracting
Industry: Oil and Gas
Individuals: Juma Al Hinai, head of the tenders committee at Petroleum Development Oman (PDO), Mohammad Ali, managing director of Galfar Engineering and Contracting
Enforcement Action: Trial
Juma Al Hinai, the head of the tenders committee at Petroleum Development Oman (PDO) is on trial for accepting bribes from two executives at Omani firm, Galfar Engineering and Contracting.… Continue Reading
A workshop at the New York Stock Exchange has explored ways for the c-suite to participate in the corporate-based dialogue on compliance.… Continue Reading
Weatherford International agreed Tuesday to pay $152.6 million to the DOJ and SEC for FCPA offenses in the Middle East and Africa and violation of the Iraq oil-for-food program.
The Switzerland-based company also paid $100 million for export controls violations under the International Emergency Economic Powers Act and the Trading with the Enemy Act.… Continue Reading
Readers of the FCPA Blog are entitled to a 20 percent discount when subscribing to Oil Patch Laws.
The online database of oil and gas rules, regulations, and legislation covers 186 countries — making it the biggest resource of its kind.… Continue Reading
The Anti-Corruption Ethics and Compliance Handbook for Business is ready, and its authors at the Organisation for Economic Co-operation and Development (OECD), The United Nations Office on Drugs and Crime (UNODC) and the World Bank hope it provides helpful guidance in the global effort to eradicate corrupt practices.… Continue Reading
The people at the DOJ in charge of FCPA enforcement get help from the Egmont Group, they say.… Continue Reading
On December 4, 2013, The George Washington University Law School will host a tribute to Mark Pieth for his 25 years serving as Chairman of the OECD Working Group on Bribery in International Business Transactions.… Continue Reading