News and commentary about white-collar crime, enforcement, and compliance
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
Russell A. Stamets
Contributing Editor
Richard Bistrong
Contributing Editor
Eric Carlson
Contributing Editor
Transparency International released its 2019 Corruption Perceptions Index Thursday. The results of this latest iconic list beg the question: Should we look at the ten cleanest countries on the CPI to see where the next mega-FCPA settlement will come from?… Continue Reading
A trove of money laundering scandals erupted in Northern Europe this year, tying major financial institutions from all three Scandinavian countries to alleged bribery schemes, attempts to evade U.S. sanctions, and serious regulatory failures.… Continue Reading
Jonathan Rusch seems to indicate in his post that we disagree about data. I think we disagree mostly about the best attitude for decision-makers. Rusch indicates that I somehow disparage data, almost as if I were disparaging how someone earns a living, but to paraphrase Don Corleone, I too work with data.… Continue Reading
Hempel A/S said Monday it paid about $33.4 million to enforcement agencies in Denmark and Germany to resolve allegations of bribery.
The company said it discovered “illegal sales practices” in April 2017 “in Germany, other countries in Europe and in Asia.”… Continue Reading
The CEO of Denmark’s biggest bank resigned last week after an internal investigation found $235 billion in suspicious transactions at the bank’s branch in Estonia.
Thomas Borgen had led Danske Bank since 2013.… Continue Reading
Danske Bank appears to have been used to launder $8.3 billion between 2007 and 2015 on behalf of individuals and entities located in Estonia. The bank’s punishment so far? A “stern ticking off,” as Bloomberg put it, and a request by Denmark’s banking regulator to hold more capital.… Continue Reading
The World Bank Group announced the debarment of Consia Consultants ApS for 14 years for fraud and corruption. Consia’s Managing Director was also debarred for three and a half years.
The World Bank’s Integrity Vice Presidency said in a statement that it found evidence that Denmark-based Consia “made payments to officials to influence the contract awards in and failed to disclose its agreement and commissions paid to its agent in connection with the World Bank-financed Strategic Road Infrastructure Project in Indonesia.”… Continue Reading
In the 2016 Transparency International Corruption Perceptions Index released last week, Nordic countries again received the most favorable rankings. Yet, for the second year in a row, Transparency International’s website draws a negative example from the Nordics, citing a scandal involving members of the Danish parliament to illustrate corruption in European countries. … Continue Reading
Massachusetts-based medical technology company Analogic Corporation and a foreign subsidiary and that unit’s former CFO settled FCPA violations related to $20 million in improper payments in Russia and other countries.
Analogic’s Danish subsidiary, BK Medical ApS, entered into a non-prosecution agreement with the DOJ Tuesday.… Continue Reading
For three years in a row, Denmark has ranked best on Transparency International’s Corruption Perceptions Index. If any country is free from preferential dealings between public servants and private enterprise, one would expect it to be Denmark.… Continue Reading
Analogic Corporation said in a securities filing Wednesday the SEC and DOJ made separate settlement proposals to end an ongoing FCPA investigation that would include total payments of about $15 million.… Continue Reading
Imaging company Analogic Corp. said Wednesday it offered the Securities and Exchange Commission $1.6 million to settle a bribery probe involving the company’s Danish subsidiary.
Massachusetts-based Analogic said it “commenced discussions” with the SEC concerning a resolution of the matter.… Continue Reading