The U.S. Securities and Exchange Commission (SEC) is looking into charges that some of the largest multinational OEMs of medical imaging equipment allegedly paid bribes to government officials in China to secure equipment sales, according to an article published June 4 in Reuters. The SEC investigation includes GE, Siemens, and Philips, and is part of a broader…
In a report published today on corruption prevention in Latvia in respect of members of parliament, judges and prosecutors, the Council of Europe’s anti-corruption group (GRECO) regrets the lack of measures concerning regulation on lobbying, parliamentary ethics and conflicts of interest. Despite draft amendments which are reportedly geared towards enhancing transparency of law making, as well as…
Whatever its faults, American culture has a strong aversion to white-collar corruption. Corporate scandals like Enron shock us to our core. But in many parts of the world, Enron-like fraud is par for the course. Throughout the Middle East, corruption runs rampant in the business world. High-class thieves are aided and abetted by politicians whose…
Over the last eight years, China has cracked down on bribery and corruption, particularly in its investigations and prosecutions of public officials, but what about corporate enforcement? Corruption, according to Chinese President Xi Jinping, remains the greatest threat to the Communist Party’s survival, and according to Transparency International’s Corruption Perceptions Index 2018, which was published in January…
Kenya has fired a direct shot at the nation’s endemic corruption: by issuing a new generation of banknotes. In a surprise move, the government announced the 1,000 shillings ($10) note will be discontinued by October 1 in a bid to fight corruption, counterfeit, and money laundering. Central bank governor Patrick Njoroge said people who want…
Often, we use expressions or terms without having a clear understanding of their meaning or implications. A few years ago, I asked 50 individuals the meaning of ‘hope’. I received 50 different explanations. In recent days I have asked more than a dozen individuals for their definition of the term ‘corruption’. Again, I received a…
— Anti-Corruption News Story Curated by Anti-Corruption Digest International Risk & Compliance News “The aim of the e-residency program is to bring new e-residents to Estonia who consume Estonia’s e-services and, among other things, also conduct their legal business. The purpose of the anti-money laundering rules is to prevent the exploitation of the Estonian…
— Anti-Corruption News Story Curated by Anti-Corruption Digest International Risk & Compliance News Since early May, Baltimore has been grappling with a city-crippling ransomware attack. A fiery debate has erupted within the information security community over who is to blame for the mess. The match that lit the blaze: A story published by the The New York…
— Anti-Corruption News Story Curated by Anti-Corruption Digest International Risk & Compliance News People are spending and raising tons of cash from casinos, betting companies and real estate –and that quantified in tax terms should make government happy but it isn’t. Why? Because most money earned from criminal activities is being washed or laundered…
— Anti-Corruption News Story Curated by Anti-Corruption Digest International Risk & Compliance News VANCOUVER—Police have called Bitcoin ATMs “an ideal money-laundering vehicle,” and Vancouver’s mayor has even suggested a ban, but experts and businesses say federal regulation is what’s really needed to rein in a currently unregulated sector. Unlike other money-service businesses such as…
