As the recent high-level and healthy debate on the FCPA Blog has shown, there are various ways to gather and analyze corruption-risk data at the country level, all of which have respective pros and cons but nevertheless are indispensable in our era of risk-based compliance decision-making.… Continue Reading
Posts Tagged: Iraq
The United States, the European Union, Canada, and the UK announced coordinated sanctions against Russia this weekend. The sanctions are designed mainly to block major banks from the SWIFT financial network and isolate families close to President Vladimir Putin.… Continue Reading
Petrofac Ltd, a British oilfield services provider, agreed Monday to pay the UK Serious Fraud Office £77 million ($104.6 million) in penalties for Bribery Act offenses in Iraq, Saudi Arabia, and the United Arab Emirates.… Continue Reading
Last week, Sargeant Marine agreed to pay the DOJ $16.6 million to settle FCPA charges that it bribed officials in multiple South American countries. The bribes it paid in Brazil alone helped the company and its trading affiliate win Petrobras contracts worth $185 million.… Continue Reading
Unexplained Wealth Orders (UWOs) — nicknamed the “Mcmafia” law after the hit TV drama about Russian organized crime in London — received a lot of attention in the press as the solution to the UK’s dirty money problem.… Continue Reading
As we approach the anniversary of the Financial Conduct Authority’s first published set of aggregated results, it’s a good time to review what that means for risk managers across the UK and Europe.… Continue Reading
The former CEO and former chief operations officer of Monaco-based Unaoil pleaded guilty in March to arranging millions in bribes to officials in at least ten countries, and a former Unaoil business development director pleaded guilty in August last year, the DOJ said Wednesday.… Continue Reading
TechnipFMC plc paid the SEC $5 million Monday to settle FCPA offenses related to bribing Iraqi officials to win business with state-owned oil companies.
The London-headquartered oil and gas company disgorged $4.3 million plus pre-judgment interest of $735,000 to the SEC. … Continue Reading
One of four individuals charged in the UK as part of the corruption investigation into Unaoil pleaded guilty this week to conspiracy to pay bribes.
Basil Al Jarah, 70, described by prosecutors as “Unaoil’s former partner in Iraq,” pleaded guilty to five charges in Southwark Crown Court in London on July 15.… Continue Reading
The UK Serious Fraud Office said Tuesday it has brought more charges against two individuals already facing trial as part of the Unaoil investigation.
Basil Al Jarah and Ziad Akle were both charged last week with conspiracy to give corrupt payments.… Continue Reading