News and commentary about white-collar crime, enforcement, and compliance
Harry Cassin
Publisher and Editor
Andy Spalding
Senior Editor
Jessica Tillipman
Senior Editor
Bill Steinman
Senior Editor
Richard L. Cassin
Editor at Large
Elizabeth K. Spahn
Editor Emeritus
Cody Worthington
Contributing Editor
Julie DiMauro
Contributing Editor
Thomas Fox
Contributing Editor
Marc Alain Bohn
Contributing Editor
Bill Waite
Contributing Editor
Russell A. Stamets
Contributing Editor
Richard Bistrong
Contributing Editor
Eric Carlson
Contributing Editor
The World Bank debarred three companies on Wednesday in three separate, unrelated settlements involving projects in Liberia, Yemen, and Brazil. … Continue Reading
Frictionless mobile payments may not be as good as cash for paying bribes and buying contraband, but they’re the next best thing.
The New York Times published a report last week exposing the scale of weapons being trafficked through Facebook groups into Libya, Yemen, Iraq, and Syria.… Continue Reading
At the World Economic Forum in Davos Thursday, Secretary of State John Kerry highlighted the links between corruption and unrest in countries including Libya, Yemen, Burundi, and Iraq.
“Only better governance can rout the scourge of corruption, which costs the global economy $2.6 trillion, blights job prospects, and opens up a vacuum that allows the predators to move in,” he said.… Continue Reading
The Financial Crimes Enforcement Network (FinCEN) Tuesday fined a money transfer business based in Hamtramck, Michigan and its owner for processing millions of dollars in wire transfers to Yemen without any due diligence on those involved.… 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
We’ve talked about graft as a cause of war. Now the Carnegie Endowment for International Peace has weighed in. It published a landmark study this month called Corruption: The Unrecognized Threat to International Security.… Continue Reading
It is that time of the year again. Transparency International released its 2013 Corruption Perceptions Index (CPI) today. The CPI, which is the most widely used indicator of corruption worldwide, measures the perceptions of public sector corruption.… Continue Reading
Jack Stanley paid his former employer Kellogg, Brown & Root LLC $9.25 million last week as partial restitution for kickbacks he took when he ran the company.
He was sentenced on February 23 to 30 months in prison for conspiracy to violate the Foreign Corrupt Practices Act and commit mail and wire fraud.… Continue Reading
The Wall Street Journal is reporting that Swiss logistics giant Panalpina and its customer Shell are close to settlement of FCPA charges with the DOJ and SEC. The paper said Panalpina may pay about $85 million in penalties and Shell about $30 million.… Continue Reading
Schlumberger, the Wall Street Journal reported last week, hired Zonic Invest Ltd., a consulting firm run by the nephew of Yemeni President Ali Abdullah Salehto, and agreed to pay a $500,000 signing bonus, plus other compensation.… Continue Reading
The DOJ is investigating potential bribery in Yemen by oil field services giant Schlumberger Ltd., according to a report today by Dionne Searcey of the Wall Street Journal.
The investigation focuses on payments to a consulting firm with ties to Yemen’s government when Schlumberger needed approval to create an oil-exploration databank there.… Continue Reading
George Terwilliger — formerly of the DOJ and now in private practice — had some wise words about decisions to launch internal investigations. His article in law.com included this tightly packed and well-mannered exhortation:
… Continue ReadingMost corporate decision-makers do not have the experience necessary to anticipate the judgments and proclivities of enforcement officials.