Millions of documents leaked from a corporate services firm with a posh London address are helping journalists unmask owners of secret offshore companies and the alleged criminal activities of some of those owners.… Continue Reading
Transparency International’s CPI may not be perfect, but the perception of corruption in a country matters. As one study found, if you go to a country where you expect corruption, and someone solicits a bribe from you, you are more likely to give the bribe.… Continue Reading
In our experience, cooperation with the due diligence process, and developing a deep understanding of the compliance expectations held by multinational companies, are competitive advantages. They help local business partners stand out from the crowd, move through the due diligence process far more quickly, and grow a larger clientele among compliance-focused companies.… Continue Reading
United Technologies Corporation agreed Wednesday to pay the SEC $13.9 million to resolve charges that it violated the FCPA by making illicit payments in its elevator and aircraft engine businesses.
United Technologies subsidiary Otis Elevator Co.… Continue Reading
The World Bank Thursday debarred three companies and a former executive for rigging bids and fixing prices on contracts under a bank-financed project in Pakistan.
Pak Elektron Limited (PEL) and two affiliates were debarred for 33 months for colluding on bids for the Electricity Distribution and Transmission Improvement Project.… Continue Reading
Last year, 17,958 people were killed in terrorist attacks, 61% more than the previous year. More than 80% of all deaths from terrorist attacks occurred in five of the world’s most corrupt countries — Iraq, Afghanistan, Pakistan, Nigeria, and Syria.… Continue Reading
Smith & Wesson Holding Corporation agreed Monday in an out-of-court settlement with the Securities and Exchange Commission to pay $2 million to resolve Foreign Corrupt Practices Act offenses.
The U.S.-based parent company paid bribes in Pakistan, Indonesia and other countries to win gun sales to military and police forces, the SEC said.… Continue Reading
A report just released by Transparency International says corruption is on the rise in South Asia and failing to tackle it will threaten the region’s economic progress by deepening poverty and scaring off investors.… 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