One day, while doing ethnographic research in Southern Italy, I interviewed the mayor of a town in which there had been investigations of corruption related to the use of public infrastructure funds.… Continue Reading
Many individuals, non-profits, and corporations actively support charitable causes around the world. The need to support worthwhile charitable projects in many developing markets is particularly acute due to local needs, the lack of government funding, and the lack of an adequately developed infrastructure.… Continue Reading
Job Title: Compliance Officer III
Employer: BNP Paribas / Bank of the West
Location: San Francisco, California
This is a Vice President position and responsibilities include taking a lead role in ensuring that the Commercial Banking Group’s (CBG) policies and procedures are aligned with Bank’s policy and regulatory requirements. … Continue Reading
China released draft amendments Thursday to its Anti-Unfair Competition Law that could reshape how commercial bribery in China is interpreted and enforced.
Specifically, the Draft Amendments would (1) more precisely define commercial bribery, including liability for bribes paid through third parties, (2) clearly include vicarious liability for employers for the actions of their employees, and (3) significantly increase penalties for commercial bribery for companies and for those facilitating or turning a blind eye to bribes. … Continue Reading
Still wondering what the cost of a culture of non-compliance might be? Earlier this month Volkswagen announced it would delay reporting its annual earnings and move back the date of its annual shareholders’ meeting because of uncertainty about the cost of its diesel emissions scandal.… Continue Reading
A Florida bank that failed to file suspicious activity reports on time for accounts used in a giant Ponzi scheme will pay $4 million to settle federal civil charges that its defective compliance program led to violations of anti-money laundering laws.… Continue Reading
Two former executives of a UK company that supplies technology-based products to the metals industry were charged Thursday with bribery and corruption.
Michael Sorby, a former director of Sarclad Ltd, and Adrian Leek, the company’s former sales manager, appeared in Westminster Magistrates’ Court in London.… Continue Reading
According to Transparency International UK, “billions of pounds of dirty money” are passing through the UK monetary system, due to what TI describes as a “woefully inadequate” and fragmented anti-money laundering approach.… Continue Reading
HSBC Holdings said in an earnings release Monday that the SEC is investigating the bank’s hiring practices in Asia.
London-based HSBC said it has received various requests for information and is cooperating with the SEC’s investigation.… Continue Reading
I recently heard a CEO at a compliance event ask, “Are people ready to sacrifice sales for compliance and ethics if that moment arises?” Great question.
Roughly, there are two compliance approaches to this dilemma.… Continue Reading
Location: Alexandria, Egypt
The Project Compliance Officer is responsible for administering the Bechtel Ethics and Compliance Program for company employees working on the West Nile Delta project in Egypt, a major onshore gas terminal project.… Continue Reading
The U.S. Treasury Department’s Financial Crimes Enforcement Network withdrew a finding against Banca Privada d’Andorra Friday because the bank “no longer operates in a manner that poses a threat to the U.S.… Continue Reading