I have commented previously on the role that whistleblowers have to play in the context of alerting the appropriate authorities or corporate governance structures of apparent acts of money laundering, fraud or corruption.… Continue Reading
The Treasury Department’s Financial Crimes Enforcement Network assessed a $110 million civil penalty Wednesday against BTC-e for willfully violating U.S. anti-money laundering laws.
It was FinCEN’s first enforcement action against a foreign-located Money Services Business or MBS doing business in the United States.… Continue Reading
Ericsson said Sunday that a Greek prosecutor summoned seven current and former employees in an investigation “involving allegations of possible corruption.”
The probe involves the 1999 sale of an airborne radar system by Ericsson Microwave Systems.… Continue Reading
Put 30 anti-corruption professionals from diverse countries in an academic classroom for three days, and the human mind goes to new places. Here’s a question that arose during my recent stint at the International Anti-Corruption Academy which we asked but could not answer.… Continue Reading
Greek authorities said Monday they indicted 64 people for bribery involving Siemens AG from 1992 to 2006 related to communications company Hellenic Telecommunications (OTE).
An investigation found that Greece lost about $75 million from equipment sales by Siemens to OTE.… Continue Reading
In a speech Tuesday at CBI’s Annual Pharmaceutical Compliance Congress in Washington D.C., the head of the SEC’s enforcement division, Andrew Ceresney, left, talked about the most common ways pharmas violate the FCPA.… Continue Reading
German auto parts maker and defense contractor Rheinmetall AG said in a statement Wednesday that a subsidiary agreed to pay a fine of €37 million ($46 million) to resolve a criminal investigation of alleged bribes in connection with arms sales in Greece.… Continue Reading
Despite decades of corruption that helped drive Greece into bankruptcy and a $300 billion international bailout, politicians there have passed a raft of new laws giving themselves and others immunity for graft.… Continue Reading
As I settle back at my desk in Peru, I reflect on my experience last week at the IACA’s Corporate Integrity Training program. Ten years ago I wouldn’t have imagined sharing a room with people from 25 different countries to discuss anti-corruption compliance.… Continue Reading
The publication last week of the EU’s first corruption monitoring report, with biennial ones to follow, highlights a striking disparity between its 28 members in tackling corruption.
In the past two weeks, Greek prosecutors have brought corruption charges against several current and former government officials and business leaders. These cases stem from bribery and money laundering committed during the financial crisis that began in 2008.… Continue Reading