The Treasury Department’s Office of Foreign Assets Control issued a new advisory Thursday warning banks, insurance companies, negotiators and others about sanctions risks from helping victims make ransomware payments.… Continue Reading
Amid the coming post-Covid-19 resizing wave, when chief compliance officers request bigger budgets, don’t laugh, and don’t blame them. This time, it’s OFAC’s fault.… 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
UK oil services firm Petrofac PLC said it launched an investigation into allegations of bribery to win contracts Kazakhstan and the Middle East.
In November, the Department of Justice confirmed the rumors that had circulated all fall about an appointment it was making in its Fraud Section: Hui Chen was selected to occupy the new role of in-house compliance counsel.… Continue Reading
Federal and New York authorities said Wednesday that Deutsche Bank will pay $258 million and fire six senior employees to resolve investigations into thousands of illegal transactions with customers in Iran, Libya, Syria, Myanmar, and Sudan.… Continue Reading
Last week OFAC — the Office of Foreign Assets Control — issued its 23rd report to congress detailing blocked assets in the U.S. belonging to terrorist organizations and state sponsors of terrorism.… Continue Reading
The 2014 World Misery Index ranks 108 countries for how much “misery” the people in a country are experiencing. The amount of misery is arrived at by adding the unemployment, inflation, and bank lending rates, and subtracting the percentage change in real GDP per capita.… 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
Two former executive directors of Austria’s state-owned banknote printer pleaded guilty during a criminal trial in Vienna for a conspiracy to win business by bribing officials in Syria and Azerbaijan.