A member of the Iran’s parliamentary committee investigating corruption under former President Mahmoud Ahmadinejad’s administration said revealing to the public the extent of the graft would cause a “social shock” and harm the government.… Continue Reading
A sweeping corruption investigation into state oil giant China National Petroleum Corp (CNPC) has expanded from domestic oilfields to overseas operations, with two more oil executives being detained for questioning.
Bo Qiliang (pictured), the vice president of CNPC’s subsidiary PetroChina Company Limited, was one of those detained, sources told local English-language magazine Caixin.… Continue Reading
U.S. authorities are seeking more than $3.5 billion from BNP Paribas SA to resolve federal and state investigations into the bank’s dealings with sanctioned countries, including Sudan, Iran and Cuba.… Continue Reading
A China national used a web of overseas front companies and U.S. financial institutions to sell nuclear-weapons-related items to Iran in violation of trade sanctions, the DOJ said Tuesday.
“As alleged, Li Fangwei has used subterfuge and deceit to continue to evade U.S.… Continue Reading
Dow Jones Risk & Compliance conducted an online survey in February, asking 383 compliance professionals around the world to evaluate their anti-corruption compliance programs and name their top risk concerns.
Eighty of the respondents were in North America, 145 in Western Europe, 119 in Asia-Pacific, and 39 in other countries.… 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
BNP Paribas has set aside $1.1 billion for a potential settlement with federal and state government agencies that are investigating possible U.S. sanctions violations.
In the fourth biggest FCPA case ever, French oil giant Total S.A. agreed Wednesday to pay $398 million in penalties and disgorgement for bribing an Iran official to gain access to oil and gas fields.… Continue Reading
Here’s the complete FCPA disclosure from Total SA’s Form 6-K (Report of Foreign Private Issuer) filed with the SEC on April 29, 2013:
In 2003, the United States Securities and Exchange Commission (SEC) followed by the Department of Justice (DoJ) issued a formal order directing an investigation in connection with the pursuit of business in Iran by certain oil companies including, among others, TOTAL.… Continue Reading