A new report recently published by The Ethics and Compliance Initiative (ECI), the 2019 Global Business Ethics Survey, addresses the state of E&C programs across ten countries — USA, Brazil, UK, Spain, France, Italy, Germany, Russia, India, and China.… Continue Reading
The World Bank debarred a Spanish engineering company Thursday for cheating on a bid and lying about its work progress.
Ingeniería Especializada Obra Civil e Industrial S.A.U. was debarred for 28 months.… Continue Reading
A special court in Spain is investigating executives at a state-owned defense company that allegedly paid millions in bribes to win weapons contracts with Saudi Arabia spanning two decades.
Audiencia Nacional, the Spanish court, is investigating five deals between Defex and Riyadh from 1992 to 2004. … Continue Reading
The last few years have revealed a growing trend of prosecuting top-grossing soccer superstars for tax evasion and tax fraud.
Ordinarily nobody would think twice about the nature of these prosecutions.… Continue Reading
A British critic of Russian president Vladimir Putin was detained by Spanish police Wednesday on an international arrest warrant that Russia requested through Interpol.
Financier Bill Browder tweeted that police in Madrid released him after Interpol’s general secretary in Lyon, France, instructed Spanish police not to honor Russia’s arrest request. … Continue Reading
The DOJ unsealed an indictment Monday against five former employees of Venezuela’s state energy company, charging all of them with money laundering and two with also conspiring to violate the Foreign Corrupt Practices Act.… Continue Reading
Spain is in the grip of a massive corruption scandal. A trial began this month in which some of the highest-ranking former lawmakers and officials of the ruling Popular Party (PP) are facing .… Continue Reading
A former manager of a polymer banknote manufacturer was convicted Wednesday in London of four counts of making corrupt payments to a foreign official.
Peter Chapman, 54, used to work for Innovia Securency PTY Ltd.… Continue Reading
Effective speak-up or whistleblowing hotlines are an element of good governance and can act as an early warning system. But while most large companies have a formal mechanism where employees can voice concerns, our 2015 Ethics at Work survey shows that employees don’t have confidence in the system.… Continue Reading
Transparency International recently published its first analysis of corporate transparency, measuring the amount and quality of corporate disclosure by the world’s largest 120 enterprises. The results? Not a single U.S.… Continue Reading
The U.S. Treasury Department’s Financial Crimes Enforcement Network said senior managers at Banca Privada d’Andorra took bribes for several years to help launder money for organized crime groups.
FinCEN designated the bank, known as BPA, as a foreign financial institution of primary money laundering concern under Section 311 of the USA PATRIOT Act.… Continue Reading