Harry Cassin
Publisher and Editor
Andy Spalding
Senior Editor
Jessica Tillipman
Senior Editor
Bill Steinman
Senior Editor
Richard L. Cassin
Editor at Large
Elizabeth K. Spahn
Editor Emeritus
Cody Worthington
Contributing Editor
Julie DiMauro
Contributing Editor
Thomas Fox
Contributing Editor
Marc Alain Bohn
Contributing Editor
Bill Waite
Contributing Editor
Shruti J. Shah
Contributing Editor
Russell A. Stamets
Contributing Editor
Richard Bistrong
Contributing Editor
Eric Carlson
Contributing Editor
Roger Wilkins AO (Australia) FATF President 2014-2015The U.S. Treasury Department’s Financial Crimes Enforcement Network sets risk-based compliance obligations of U.S. financial institutions. FinCEN directs counter-measures against the countries with the highest risk and enhanced due diligence against others.… Continue Reading
The Organization of the Petroleum Exporting Countries was founded in Baghdad in 1960 by five countries — Iraq, Iran, Kuwait, Saudi Arabia, and Venezuela. It later expanded to the current twelve members.… Continue Reading
The CEO of Italian energy giant Eni, Paolo Scaroni, was sentenced to three years in prison Monday over inadequate environmental standards at a power plant when he was CEO at Italian utility Enel.… Continue Reading
The Financial Action Task Force (FATF) identified jurisdictions that have strategic deficiencies in their anti-money laundering and financing of terrorism controls in a public statement Friday.
The FATF is a membership body that sets the global standards for anti-money laundering (AML) and financing of terrorism (FT) programs and controls.… Continue Reading
Italian state-owned oil giant Eni SpA said a forensic audit proved the company didn’t pay any bribes in Algeria.
Italian and Algerian government investigators have been examining allegations that officials from Saipem SpA, owned 43% by Eni, paid bribes for contracts in Algeria worth billions of dollars.… Continue Reading
Chekib Khelil, Algeria’s former energy minister, is wanted for corruption (photo courtesy of Wikipedia)Algeria’s former energy minister is wanted on an international arrest warrant for alleged corruption following accusations of bribery involving Italian energy giant Eni.… Continue Reading
The former head of a Montreal hospital was arrested in Panama Monday on an Interpol warrant charging him with fraud.
Arthur Porter is suspected of taking kickbacks from Canadian engineering giant SNC-Lavalin, according to a report by AFP. … Continue Reading
Canada’s scandal-plagued SNC-Lavalin has been barred from World Bank-funded projects for ten years because of alleged corruption in Bangladesh and Cambodia.
The World Bank announced the ban Wednesday.
It debarred parent-company SNC-Lavalin Inc.… Continue Reading
Country: Algeria
Company Involved: SNC-Lavalin
Industry: Industrials
Industry Subsector: Heavy Construction
Official Involved: Chakib Khelil, former energy minister
Enforcement Action: Investigation
Summary: The probe into SNC-Lavalin’s activities around the world has reached Algeria.… Continue Reading
Oil services firm Nabors Industries Ltd. said Wednesday the DOJ won’t bring an FCPA enforcement action after an investigation first launched more than five years ago.
Nabors was a customer of Panalpina but not among the seven companies that settled FCPA cases on the same day in November 2010.… Continue Reading
Giuseppe Orsi, chairman and CEO of Finmeccanica (Photo courtesy of Wikipedia)The head of Italian defense firm Finmeccanica SpA was arrested Tuesday by Italian police on allegations that he bribed Indian officials to win sales of helicopters.… Continue Reading
The CEO of Italian energy giant Eni SpA is under investigation by Italian authorities for bribes allegedly paid in Algeria by its subsidiary Saipem SpA.
Eni said Paolo Scaroni is a target of the probe.… Continue Reading
