DOJ charges oil trader with FCPA and money laundering conspiracy
Richard L. Cassin
September 23, 2020
A federal grand jury in Brooklyn indicted an oil trader Tuesday for bribing officials in Ecuador.… Continue Reading
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Posts Tagged: Global Witness
Public access is critical for UBO register success
Joseph Kraus
January 23, 2020
Our respective organizations have long been committed to the creation of a global standard of public access to beneficial ownership information. That is why we helped launch OpenOwnership, whose mission is to support countries to publish public beneficial ownership data that is freely accessible, easy to use and connected globally.… Continue Reading
Twice-dead extractive industries disclosure rule comes back to life
Richard L. Cassin
December 18, 2019
The Securities and Exchange Commission voted Wednesday to propose another version of its rule to require resource extraction issuers to disclose payments to foreign governments for the commercial development of oil, natural gas, or minerals.… Continue Reading
Hear me out, please. Public UBO registers won’t work in 2019
Martin Kenney
January 7, 2019
I have been considering the events of the past 12 months from an anti-money laundering (AML) regulatory perspective, and with what we may be faced with in the year ahead.
For me, the main issue arising from 2018 is the ongoing debate I have been having with a variety of NGOs and pressure groups who would see public UBO (ultimate beneficial owner) company register systems implemented across the board, including the Caribbean islands that provide offshore company services to the globe.… Continue Reading
Due diligence warning about ‘golden passport’ countries
Richard L. Cassin
November 5, 2018
The Organization for Economic Cooperation and Development published a list of “golden passport” schemes from 21 countries that are high risk and “required to be taken into account” during due diligence.… Continue Reading
Eric Lochner on customer due diligence: UBOs in diapers
Eric Lochner
May 10, 2018
Performing due diligence on third parties can be hard. When you discover that your third party is still in diapers, however — that’s pretty much a surefire sign something is amiss.… Continue Reading
Italian prosecutor charges Shell and former execs with overseas bribery
Richard L. Cassin
October 19, 2017
The Milan Public Prosecutor’s Office has charged Royal Dutch Shell and four former executives for an alleged plot to pay massive bribes to win oil exploration rights in Nigeria.
One of those charged is Malcolm Brinded, 64, the former executive director for Upstream International when the alleged bribery happened.… Continue Reading
Resource Alert: New guidance on corruption red flags in oil, gas and mining deals
Alexandra Gillies and Aaron Sayne
April 25, 2017
An oil and gas or mining company can avoid all kinds of reputational and legal challenges by swearing off deals with certain corruption warning signs. This month’s developments in an evolving scandal might have Royal Dutch Shell wishing it had done so.… Continue Reading
Congress votes to kill extractive industries disclosure rule
Richard L. Cassin
February 6, 2017
The U.S. Senate voted Friday to repeal an SEC rule that would have required oil and gas and mining companies to disclose each year all of their payments to foreign governments for exploration and production rights, permits, taxes, and other things.… Continue Reading
Liberia’s ‘best-connected lawyer’ arrested in UK-linked bribe probe
Richard L. Cassin
May 27, 2016
A Liberian lawyer who heads the country’s ruling party was arrested Wednesday for allegedly paying bribes on behalf of a UK-listed mining company once chaired by former England cricket star Phil Edmonds.… Continue Reading
France: Foreign anti-bribery bill won’t allow corporate settlements
Elisabeth Danon
March 28, 2016
The French bill for Transparency and Modernization of Economic Life, which, among other things, aims at preventing foreign bribery and intensifying the fight against it, has been the subject of much speculation during the past few months.… Continue Reading
GW Law Program: The lawyer as the gatekeeper against corruption (March 22)
Jessica Tillipman
March 16, 2016
In January, CBS’s 60 Minutes aired Anonymous, Inc. in which a person with Global Witness, pretending to be a lawyer representing a minister from a poor West African country, sought legal advice about investing millions of dollars into the United States.… Continue Reading