Anti-Corruption Enforcement and Compliance
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Petrobras Corruption Scandal: US Investigation Stepped Up As DOJ, SEC Work With Brazil In International Probe

Petrobras Corruption Scandal: US Investigation Stepped Up As DOJ, SEC Work With Brazil In International Probe | Anti-Corruption Enforcement and Compliance | Scoop.it

The U.S. Department of Justice and the Securities and Exchange Commission are said to be amping up their work with their counterparts in Brazil to gather information as part of an international investigation into a suspected corruption scandal surrounding Petrobras Brasileiro SA, Brazil's massive government-run oil company, and engulfing some of Brazil's highest-ranking politicians.

Bloomberg reported the news Friday morning, citing three sources who spoke on the condition of anonymity. They said authorities in the U.S. are investigating more than a dozen companies, gathering information — including documents — that could build a case against Petrobras. The advantage of bringing U.S. authorities on board with the investigation is that it allows authorities to capitalize on their respective legal strengths.  

The DOJ and SEC joined the investigation in November 2014, but only more recently have they stepped up their probe into companies with ties to Petrobras. They are now examining any company publicly named in Brazil's investigation, including Odebrecht SA, OAS SA and Andrade Gutierrez SA, in which executives have been convicted as part of the scandal. U.S. authorities are able to do so because these companies have securities that trade in the U.S. 


Brazil Overview | FindTheData
Prosecutors in Brazil have found that the country's bribery and money-laundering scandal appears to extend across four continents. It has brought down key Brazilian politicians, including some close to President Dilma Rousseff, who was suspended from office Thursday on separate allegations. More than 150 people have been arrested so far in connection with the investigation into Petrobras.


Brazilian prosecutors believe contractors for Petrobras bribed the company's executives in order to gain contracts, for which they inflated costs. Petrobras executives, meanwhile, are alleged to have paid politicians kickbacks worth as much as $1.6 billion in order to gain contracts.

Numerous high-level politicians have been implicated in the scandal, dubbed Operation Carwash for one of the ways money was found to have been laundered. 



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McCarthy Tétrault - Extraterritorial UK and Canadian Anti-Corruption Law - Are Your International Activities Caught?

A key issue for anyone doing business is knowing the laws that apply to them. For anti-corruption matters, it is not just the law of your home country or the laws of the overseas jurisdiction where you are doing business. Both UK and Canadian anti-corruption law can have extra...
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More companies admit to difficulty of staying on top of corruption

More companies admit to difficulty of staying on top of corruption | Anti-Corruption Enforcement and Compliance | Scoop.it

There is lots of room for improvement in companies’ anti-bribery and corruption (ABC) compliance programs, according to the results of a recent survey by KPMG International.


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The UK Appoints New Anti-Corruption Unit: A Look at the Global Ramifications | JD Supra

Given London’s role in international business and finance, the UK Bribery Act 2010 promised to form a potential strong counterpart to the U.S. Foreign Corrupt Practices Act (FCPA). Now,...
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US Asks Europe To Seize $1Bln in Russian Telecoms Bribery Case - The Moscow Times

US Asks Europe To Seize $1Bln in Russian Telecoms Bribery Case - The Moscow Times | Anti-Corruption Enforcement and Compliance | Scoop.it
The U.S. Justice Department has requested that European authorities in several countries seize approximately $1 billion in assets linked to the daughter of Uzbek President Islam Karimov as part of an ongoing international corruption probe into a...

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Thousands of Iraqis protest against government corruption

Thousands of Iraqis protest against government corruption | Anti-Corruption Enforcement and Compliance | Scoop.it
BAGHDAD (AP) — Thousands of Iraqis have braved the scorching summer heat to stage a huge protest in central Baghdad against government corruption.
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Did China's Anti-Corruption Fight Give the US an Intelligence Windfall?

Did China's Anti-Corruption Fight Give the US an Intelligence Windfall? | Anti-Corruption Enforcement and Compliance | Scoop.it
Ling Wancheng, the South China Sea, and Japan's take on history. Friday China links.
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Corruption Currents: White-Collar Crime Prosecutions Reach 20-Year Low

Corruption Currents: White-Collar Crime Prosecutions Reach 20-Year Low | Anti-Corruption Enforcement and Compliance | Scoop.it
White-collar crime prosecutions in the U.S. are at a 20-year low, according to data analyzed by Syracuse University's Transactional Records Access Clearinghouse.
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Latin America’s Anti-Corruption Crusade

Latin America’s Anti-Corruption Crusade | Anti-Corruption Enforcement and Compliance | Scoop.it
“ Latin America has been plagued by corruption for centuries, ever since it emerged from what the Mexican poet Octavio Paz called the “patrimonialist” nature of Spanish and Portuguese colonial rule. What is different today is the response to it, with societies and institutions refusing to remain complicit in corruption, or resigning themselves to its inevitability. This attitude is exemplified in the proliferation of trials, investigations, demonstrations, convictions, and resignations relating to corruption, particularly in Brazil and Venezuela, and to a lesser extent Mexico and Guatemala. In all four countries, major scandals have erupted, with high-level government officials and business leaders being denounced by the media, the justice system, foreign governments, and/or the local opposition. Though none of the governments implicated in the scandals will collapse – at least not exclusively because of corruption – the sheer scale of the social and political protest, not to mention legal action, is astonishing. The most shocking story has unfolded in Brazil. Late last year – at a time when discontent was already widespread, with protests against excesses and abuses in the preparations for last year’s World Cup having erupted in 2013 – the so-called petrolâo scandal hit. Huge sums of money, it was revealed, had been transferred directly, or via immense construction companies, from Brazil’s state oil company Petrobras to President Dilma Rousseff’s Workers’ Party. Whistle-blowers and protected witnesses provided details of the graft to Brazilian judges, who pursued Petrobras officials, politicians, and the CEOs of the corporations under investigation. Both Rousseff and her predecessor, Luiz Inácio Lula da Silva, have been accused of graft and influence-peddling. Though Rousseff managed to hold onto power in the December election, which she won by a small margin, there is no denying that political crisis has engulfed Brazil, plunging the country into a deep recession. In Venezuela, accusations leaked by the United States government suggested that many of the country’s leaders – including Diosdado Cabello, the head of Congress and President Nicolás Maduro’s closest aid – had not only enriched themselves, but did so partly through links with Colombian drug cartels. With Venezuela’s economy deteriorating sharply, and violence and human-rights violations proliferating, Maduro has been forced to call elections for this coming December. Polls indicate that, despite a rigged electoral system, his party will suffer serious setbacks. He may even lose his majority in Congress.”
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To root out corruption, managers must know it when they see it - The Boston Globe

To root out corruption, managers must know it when they see it - The Boston Globe | Anti-Corruption Enforcement and Compliance | Scoop.it
Many managers can’t clearly define corruption. And if you can’t define something, you can’t manage it when you encounter it.
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New Amendment to the Anti-Corruption Law Brings Focus on Thai and Foreign Officials

New Amendment to the Anti-Corruption Law Brings Focus on Thai and Foreign Officials | Anti-Corruption Enforcement and Compliance | Scoop.it
On 9 July 2015, the Government Gazette published Amendment No. 3 to the Anti-Corruption Law, 1999, which came into effect on 10 July 2015.

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McCarthy Tétrault - Canada Hits the Crimea Region with Economic Sanctions and Adds 17 Parties to its Russia Sanctions Blacklist - Article Detail

Today, Canada significantly expanded its economic sanctions against Russia by imposing a wide ban on activities related to the Crimea region, including export, import, technical data and services bans.
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Quebec anti-corruption unit confirms Arthur Porter is dead - Times Colonist

Quebec anti-corruption unit confirms Arthur Porter is dead - Times Colonist | Anti-Corruption Enforcement and Compliance | Scoop.it
MONTREAL - Arthur Porter, the internationally renowned doctor who became embroiled in alleged fraud in recent years, was confirmed dead Tuesday, ending days of speculation that news of his passing . .
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McCarthy Tétrault - UK and Canadian Anti-Corruption Legislation - Deferred Prosecution Agreements - Article Detail

UK Deferred Prosecution Agreements - Will Canada Adopt DPAs? #cfpoa #fcpa #ukbriberyact
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Wanted by the US: The stolen millions of despots and crooked elites

Wanted by the US: The stolen millions of despots and crooked elites | Anti-Corruption Enforcement and Compliance | Scoop.it
It's hard to imagine a public official with more toys than Teodoro Nguema Obiang Mangue, who spent $US300 million ($419 million) on Ferraris, a Gulfstream jet, a California mansion and even Michael Jackson's "Thriller" jacket. The buying spree is all the more remarkable since this scion of the ruling family of Equatorial Guinea, one of Africa's smallest countries, bought all this while on an official salary of $US100,000 a year.

But legal action by the US Justice Department has brought an end to Obiang's spendthrift ways. His $US30 million Malibu estate is on the market, as are his luxury cars and six life-size Jackson statues. Proceeds from these sales are earmarked for citizens of Equatorial Guinea, who prosecutors claim are victims of Obiang's "relentless embezzlement and extortion."

The turnabout in Obiang's fortunes is part of an effort by the US government to recover assets it says were stolen by foreign officials -- dictators, politicians and ruling elites -- and laundered in the United States. Since its start in 2010, the Kleptocracy Asset Recovery Initiative has grown to include a dozen government lawyers and teams from the FBI and Homeland Security.


French police seized 11 luxury cars belonging to Obiang from his Paris residence in 2011, including: top, a Maserati MC12 and a red Aston Martin V8 V600 Le Mans; and bottom, a Rolls-Royce Phantom coupe. Photo: Alex Smolik
"We don't want the United States to be a haven for this money," said Leslie Caldwell, assistant attorney general and head of the criminal division. "If it comes into this country, we have the ability to reach out and grab it. Kleptocracy undermines the rule of law and breeds crime and terrorism."

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Yet for all this firepower, the Justice Department has found that bringing cases against kleptocrats has been daunting, and seizing their assets even harder still. A total of 25 cases have been brought against 20 foreign officials under the Kleptocracy initiative, and the government is seeking to seize $US1.5 billion, mainly in American real estate and bank accounts. But most of that money remains in legal limbo.

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7-year jail for bribing foreign officials? - Times of India

7-year jail for bribing foreign officials? - Times of India | Anti-Corruption Enforcement and Compliance | Scoop.it
The Law Commission on Thursday submitted a report to the government with a draft bill on Prevention of Bribery, proposing to criminalise the offence of bribery of foreign officials and officials of international organizations with a prison term of...
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Ex-FIFA official asks to live at home with pool tied to alleged bribe

Ex-FIFA official asks to live at home with pool tied to alleged bribe | Anti-Corruption Enforcement and Compliance | Scoop.it
A former FIFA official charged with soliciting bribes, including £325,000 that allegedly went to build a swimming pool at his home, wants to stay in the house near Atlanta while he awaits trial.
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France opens bribery investigation into Gabonese official

France opens bribery investigation into Gabonese official | Anti-Corruption Enforcement and Compliance | Scoop.it
France is investigating Gabon President Ali Bongo's chief of staff on suspicion of taking a bribe to help secure a contract, a judicial source said on Saturday.
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FIFA opens internal corruption investigation amid scandals

FIFA opens internal corruption investigation amid scandals | Anti-Corruption Enforcement and Compliance | Scoop.it
FIFA says it has opened an internal investigation into corruption allegations that have blighted soccer's governing body.
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A Better Approach to FCPA Compliance - Mike Kenealy

A Better Approach to FCPA Compliance - Mike Kenealy | Anti-Corruption Enforcement and Compliance | Scoop.it
“Companies need to completely reassess their foreign operations instead of dabbling with untested FCPA compliance programmes, writes Mike Kenealy.”
Via @MikeKenealy
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McCarthy Tétrault - Canada Brings into Force Payment Disclosure Regime: The Extractive Sector Transparency Measures Act - Article Detail

Canada's new regime for the mandatory reporting of payments to government, the Extractive Sector Transparency Measures Act (ESTMA), came into force on June 1, 2015.
Companies must begin reporting under the ESTMA in their first full financial year after June 1, 2015.The ESTMA...
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Mandatory reporting of payments to govt & govt officials is now the law for Canadian extractives

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Canada Implements New Integrity Regime For Public Procurement

Canada Implements New Integrity Regime For Public Procurement | Anti-Corruption Enforcement and Compliance | Scoop.it
On July 3, 2015, the Government of Canada took further steps to overhaul the integrity provisions of its procurement process. Public Works and Government Services Canada, the body which conducts mo...
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Africa’s top 10 countries for anti-corruption

Africa’s top 10 countries for anti-corruption | Anti-Corruption Enforcement and Compliance | Scoop.it
Four African nations feature in the top third of countries worldwide that score best for transparency.
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Canada implements new Integrity Regime for public procurement | Lexology

Canada implements new Integrity Regime for public procurement | Lexology | Anti-Corruption Enforcement and Compliance | Scoop.it
On July 3, 2015, the Government of Canada took further steps to overhaul the integrity provisions of its procurement process. Public Works and…
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Dozens of politicians, bureaucrats and businessmen linked to Indian bribery ... - The Independent

Dozens of politicians, bureaucrats and businessmen linked to Indian bribery ... - The Independent | Anti-Corruption Enforcement and Compliance | Scoop.it
A string of mysterious deaths linked to a high-profile bribery scandal has prompted outrage in India, as the country struggles to shed its reputation for endemic corruption.
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