Featured Bribery & Corruption

Serious Fraud Office: British exec convicted of bribery in £3 billion Saudi deal

A former sales boss at a London firm has pleaded guilty over allegations he made corrupt offers to influence officials in Saudi Arabia to award the company contracts worth billions. British national David Lufkin, who worked as Global Head of Sales for Petrofac International Limited, is now awaiting sentencing… Read More

U.S. opens probe into Brazilian oil bribery scheme – sources

The U.S. Justice Department is investigating a former U.S.-based oil trader for Brazil’s Petrobras already charged in his home country with taking part in a corruption scheme involving commodity companies Vitol SA, Glencore PLC and Trafigura AG, according to people familiar with the matter. It was the first confirmation that… Read More

Saudi Arabia closes 15-month anti-corruption campaign: SPA

Saudi Arabia has ended a sprawling crackdown on corruption ordered by Crown Prince Mohammed bin Salman that it said had recovered more than $106 billion through settlements with scores of senior princes, ministers and top businessmen. Under the surprise campaign launched in November 2017, the government summoned 381 people, some… Read More
30th January 2019
The United Kingdom has dropped out of the league of top ten countries perceived to have the lowest levels of government corruption, while the United States has tumbled out of the top 20 states, according to the new Corruption Perception Index. The rankings, which list 180 countries and territories by… Read More
25th January 2019
South African prosecutors on Thursday provisionally withdrew corruption charges against Duduzane Zuma, the son of former president Jacob Zuma. Duduzane Zuma faced charges of corruption and conspiracy to commit corruption related to his dealings with the Guptas, three Indian-born brothers accused of using their relationship with former president Zuma to… Read More
15th January 2019
The United Kingdom is set to launch a new initiative aimed at tackling financial crime such as money laundering, fraud and bribery. The new taskforce, to be known as the Economic Crime Strategic Board, will comprise government ministers, law enforcement figures and the bosses of Barclays, Santander and Lloyds… Read More
11th January 2019
The European Union is failing to stem misuse of EU funds worth hundreds of millions of euros each year, and manages to recoup only about 15 percent of this sum, auditors said on Thursday. Fraudulent use of EU funds amounted to 391 million euros($451 million) in 2017, fairly typical of… Read More
10th January 2019
The US has imposed sanctions on the owner of a TV station, former Venezuelan government officials and other companies it says were part of a bribery and currency exchange scheme that generated over $2.4 billion in corrupt proceeds. Venezuelan officials plundered funds from the government through conducting illegal foreign… Read More
7th January 2019
Romania will hold the six-month rotating Presidency of the European Union from 1 January to 30 June 2019. Among its goals, it seeks to address emerging security issues, terrorism and to support increased cohesion among EU member states. This is the first mandate for Romania, which is known for high-levels… Read More
4th January 2019
Three former Credit Suisse bankers have been arrested over money laundering and bribery charges pertaining to a scam which involved $2 billion in loans to companies in Mozambique. According to the prosecution, three Mozambican state-owned firms borrowed over $2 billion. The loan proceeds were meant to be used… Read More
4th January 2019
Peru Attorney General Pedro Chavarry on Wednesday reappointed two lead prosecutors he had dismissed from a high-profile graft probe after the decision sparked widespread opposition and a threat by President Martin Vizcarra to suspend him. The prosecutors, Rafael Vela and Jose Domingo Perez, had recently drawn up a plea deal… Read More
3rd January 2019
Brazilian construction conglomerate Odebrecht SA [ODBES.UL] has agreed to pay 161.9 million reais (£32.8 million) to Centrais Eletricas Brasileiras SA (ELET6.SA) in a deal with authorities to help settle corruption allegations against it, according to a securities filing on Wednesday. Eletrobras, as the state-run power holding company is known,… Read More
1st January 2019
India’s finance ministry has exempted rupee payments made to the National Iranian Oil Co (NIOC) for crude oil imports from a steep withholding tax, according to a government order reviewed by Reuters. The exemption, put in place December 28 but backdated to November 5, will allow Indian refiners to settle… Read More