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Corruption from a company (business) stand point
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THAILAND: The risk of FCPA prosecution Carbon Copy

Companies and individuals that admit to violating the U.S. Foreign Corrupt Practices Act (FCPA) for acts committed in Thailand risk criminal prosecution in Thai courts. When defendants in FCPA cases seek negotiated resolutions to their charges in the United States, they generally enter into guilty pleas, deferred prosecution deals, or non-prosecution agreements. By doing so, defendants formally admit to a set of facts and illegal conduct. Although the admissions are made as part of an investigation in the United States, they can potentially be used as the basis for a criminal case in Thailand. This legal phenomenon is known as a “carbon copy” prosecution.    

The risk of carbon copy prosecutions is significant because the vast majority of FCPA cases are resolved by negotiated resolution. In 2014, the U.S. Department of Justice (DOJ) brought seven FCPA enforcement actions against corporate defendants. Five of these resulted in non-prosecution or deferred prosecution agreements and two ended with plea agreements. The Securities and Exchange Commission, which is the United States’ other FCPA enforcement arm, also brought seven corporate cases in 2014 (some related to the DOJ cases), with all seven resulting in settlements. Since 2009, 50 FCPA cases have been settled by the DOJ.

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USA: Global Transaction Services head indicted for money laundering

USA: Global Transaction Services head indicted for money laundering | Corruption | Scoop.it
A federal grand jury has indicted Daniel Barrs for failing to follow anti-money laundering requirements for his role running an Atlanta money transmitting business that processed hundreds of millions of dollars’ worth of financial transactions for entities located around the world.
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FRANCE: Anti-corruption, les progrès et les loupés du projet de loi Sapin II

FRANCE: Anti-corruption, les progrès et les loupés du projet de loi Sapin II | Corruption | Scoop.it
Partager la publication "Anti-corruption : les progrès et les loupés du projet de loi Sapin II" FacebookTwitterLinkedInE-mail La chasse à la corruption en France ne restera-t-elle pour le gouvernement qu’une posture politique avec pour conséquence un simple toilettage côté entreprises ? Le projet de loi Sapin II et ses mesures anti-corruption, seront discutés au Parlement dans …
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UK: Boards admit failure on managing bribery in new report

UK: Boards admit failure on managing bribery in new report | Corruption | Scoop.it
80% of board-level executives have identified bribery or corruption in their organisation 59% admit their anti-bribery policy does not work 33% do not conduct anti-bribery due diligence as part of M&A activity Risks from bribery to commercial success
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USA: Justice Department Proposes Legislation to Advance Anti-Corruption Efforts

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USA: Financial Institutions: Fines, Penalties, and Forfeitures for Violations of Financial Crimes and Sanctions Requirements

USA: Financial Institutions: Fines, Penalties, and Forfeitures for Violations of Financial Crimes and Sanctions Requirements | Corruption | Scoop.it
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SOUTH KOREA: Defense contractors raided over alleged corruption in arms dealings

SOUTH KOREA: Defense contractors raided over alleged corruption in arms dealings | Corruption | Scoop.it
Prosecutors raided the offices of defense equipment parts manufacturers on Thursday over allegations of irregularities in the signing of contracts with the country's arms procurement agency.
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AFRIQUE: Fraudes financières = 50 milliards de dollars évaporés par an

AFRIQUE: Fraudes financières = 50 milliards de dollars évaporés par an | Corruption | Scoop.it
Le scandale des Panama Papers n’épargne pas les dirigeants africains. C’est vrai, seul l’ancien président soudanais al-Mirghani était propriétaire d’une société offshore, Orange Star Corporation, immatriculée aux îles Vierges britanniques en 1995. A sa mort en 2008, ses actifs s’élevaient à 2,72 millions de dollars.
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CHINA: Local pharma fined for bribing former hospital president

CHINA: Local pharma fined for bribing former hospital president | Corruption | Scoop.it
Hainan Province Administration of Industry and Commerce (AIC) recently imposed a fine o
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CHINA: anti-corruption program extends to spouses, children of corrupt officials

CHINA: anti-corruption program extends to spouses, children of corrupt officials | Corruption | Scoop.it
The pilot program that first took effect in Shanghai will be applied in four provincial-level regions as the Xi Jin Ping administration continues its efforts to curb corruption.
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USA: Och-Ziff, largest US public Hedge-Fund,  in trouble for corruption in South Africa

USA: Och-Ziff, largest US public Hedge-Fund,  in trouble for corruption in South Africa | Corruption | Scoop.it

Och-Ziff Capital Management (OZM.N) shares dropped 24 percent to a record low on Tuesday on the possibility that the U.S. hedge fund would have to plead guilty to bribing government officials in Africa.

The U.S. Justice Department is pushing for the largest publicly traded U.S hedge fund to plead guilty, a rare admission for a major financial institution, after a multiyear investigation into international bribery, a person familiar with the matter said.

The Wall Street Journal first reported the settlement talks and said U.S. regulators were seeking a fine of as much as $400 million from Och-Ziff, based on what they believe are profits from the alleged bribery.

The source said a fine of $100 million to $400 million was under discussion.

 

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SWITZERLAND: Inquiry Into Malaysian Fund widened to Include 2 Emirati Officials for #Corruption

SWITZERLAND: Inquiry Into Malaysian Fund widened to Include 2 Emirati Officials for #Corruption | Corruption | Scoop.it
The officials were being investigated for suspicion of fraud, criminal mismanagement, money laundering, bribery and forgery, the Swiss attorney general’s office said.
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RUSSIA: Making Life Hard for Russia’s Robber Barons

RUSSIA: Making Life Hard for Russia’s Robber Barons | Corruption | Scoop.it
Making Life Hard for Russia’s Robber Barons « | Foreign Policy | the Global Magazine of News and Ideas
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Rothschild Bank Now Under Criminal Investigation Over Missing $4 Billion in Global Corruption Probe

Rothschild Bank Now Under Criminal Investigation Over Missing $4 Billion in Global Corruption Probe | Corruption | Scoop.it
The Luxembourg unit of Rothschild banking empire is being investigated by the Luxembourg state prosecutors office
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FRANCE: Transaction pénale, la loi Sapin II n'a pas dit son dernier mot

FRANCE: Transaction pénale, la loi Sapin II n'a pas dit son dernier mot | Corruption | Scoop.it
Partager la publication "Transaction pénale : la loi Sapin II n’a pas dit son dernier mot" FacebookTwitterLinkedInE-mail Voie de dérobade devant la justice pénale, comme l’affirme Anticor, ou garantie que la sanction sera effective, comme le soutient Transparency France ? La transaction pénale, qui permet d’échapper au procès, constituait une mesure phare de l’avant projet de …
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UK: Former Deutsche Bank boss guilty of insider dealing

UK: Former Deutsche Bank boss guilty of insider dealing | Corruption | Scoop.it
Former managing director of German bank Martyn Dodgson and ex-Topshop finance chief Andrew Hind face up to seven years in jail
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USA: SEC and Law Enforcement Partners Crack Stock Promotion and Kickback Schemes

USA: SEC and Law Enforcement Partners Crack Stock Promotion and Kickback Schemes | Corruption | Scoop.it
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AUSTRALIA: Offense workflow regarding “Intentional False Dealing with Accounting Documents” - Corruption

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AUSTRALIA: Federal Police is getting $15 million to crack down on foreign bribery

AUSTRALIA: Federal Police is getting $15 million to crack down on foreign bribery | Corruption | Scoop.it
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ARGENTINA: Soccer Millionaire Says He Regrets Joining Bribe Scheme

When former Citigroup Inc. employee Alejandro Burzaco bought a minority stake in an Argentine sports marketing company in 2005, he learned that his new firm had been bribing soccer officials for years, according to court records unsealed on Monday.
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U.N. news outlet at center of bribery case defends its integrity | Reuters

U.N. news outlet at center of bribery case defends its integrity | Reuters | Corruption | Scoop.it
A United Nations-focused news outlet whose U.N. accreditation has come under review after U.S. prosecutors linked it to a scheme to bribe a former General Assembly president is striking back at its critics.
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USA: Former Owner and President of Pennsylvania Consulting Companies Pleads Guilty to Bribing Official at European Bank for Reconstruction and Development

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USA+UK: Glaxo under joinded bribery accusations in Yemen

USA+UK: Glaxo under joinded bribery accusations in Yemen | Corruption | Scoop.it
GlaxoSmithKline is conducting an internal investigation into allegations that its Yemen subsidiary hired government employees to influence purchasing decisions and boost sales of its medicines.
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USA: Top Washington Lawyer Cleared Unaoil In Anti-Corruption Report

USA: Top Washington Lawyer Cleared Unaoil In Anti-Corruption Report | Corruption | Scoop.it
A few years later, Kevin Abikoff was providing legal advice to the shady company.
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