Featured Bribery & Corruption

Money laundering: UK govt, banks in new taskforce

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

EU anti-fraud system is ineffective, auditors say

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

US: Sanctions for TV mogul, Venezuelan firms over $2 billion scam

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
28th December 2018
The UK National Crime Agency (NCA) is examining accusations that an employee leaked information to a suspect for money, undermining a probe into a network of insider trading suspects in Europe, the Wall Street Journal reported on Thursday. The NCA, which usually focuses on tackling serious and organised crime, is… Read More
27th December 2018
Fresh misconduct allegations brought by Tokyo prosecutors against ousted Nissan (7201.T) Chairman Carlos Ghosn centre on the use of company funds to pay a Saudi businessman who is believed to have helped him out of financial difficulties, two company sources with knowledge of the matter said. Prosecutors arrested Ghosn for… Read More
24th December 2018
Brazilian state prosecutors on Friday ordered the son of President-elect Jair Bolsonaro to explain suspicious funds in the bank account of his former driver, widening their probe after the ex-staff member failed to show up to answer queries. Questions over the origin of the funds in the bank account of… Read More
21st December 2018
Saudi Arabia’s finance minister said on Wednesday that cash settlements from an anti-corruption campaign would net “not significantly less” in 2019 than the 50 billion Saudi riyals ($13.3 billion) collected in 2018. Mohammed al-Jadaan also said in a Reuters interview that construction giant Saudi Binladin Group, in which the government… Read More
18th December 2018
Malaysia has filed criminal charges against Goldman Sachs and its former executives for their alleged role in the multi-billion dollar corruption and money laundering scandal involving state investment fund 1Malaysia Development Bhd (1MDB). The prosecution, which is seeking billions in fines from the bank and the accused former workers, said… Read More