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South African anti-corruption watchdog probes COVID-19 tenders

South Africa’s anti-corruption watchdog said on Monday it was investigating irregularities in coronavirus-related tenders, the latest in a series of scandals that trade unions said showed the government’s failure to tackle graft. The probes by the Public Protector come soon after investigators launched separate inquiries into the procurement of personal… Read More

Hundreds of millions flow from Russian Ministry into an obscure Geneva organization — and officials’ pockets

By Olesya Shmagun, OCCRP, 22 July 2020 OCCRP – Though its population barely exceeds 200,000 people, Geneva is one of the world’s most important diplomatic centers. The International Red Cross and the World Health Organization are headquartered in the picturesque Swiss city, along with the second-largest office of the… Read More

Fraud, money laundering and cybercrime: how Covid-19 has changed the threat to banks

In early May, border force officers at the UK’s bustling Dover port intercepted a shipment described as “medical supplies”, apparently addressed to a London hospital. However, concealed under medical dry ice, police found more than a quarter of a tonne of cocaine, carrying a street value of as much as… Read More

8th July 2020

Mafia-Linked Bonds Sold to Banca Generali, Other Investors: FT

Italy’s Banca Generali and other investors from around the world purchased bonds partly backed by the illicit proceeds of the ’Ndrangheta mafia group, the Financial Times reported on Tuesday, citing financial and legal documents. The private bonds stemmed from unpaid invoices owed by Italian public health authorities that were… Read More

2nd July 2020

FATF Seeks Input on Proliferation Financing, Discloses New Priorities

The global watchdog against money laundering and terrorist financing is seeking input on how to prevent the spread of weapons of mass destruction as Germany assumes its two-year presidency of the organization. In an announcement following the final plenary meeting under Chinese President Xiangmin Liu, the Financial Action Task… Read More

1st July 2020

Banks Face Increasing Compliance Risks, OCC Says

The coronavirus pandemic has forced some financial institutions to reduce staff or reassign personnel at a time when applications for government relief programs are flooding in, heightening banks’ compliance risks, the Office of the Comptroller of the Currency said. The OCC, which supervises and regulates banks and savings associations, said… Read More

26th June 2020

Novartis, Alcon Pay $347 Million to Settle Bribery Probes

Novartis AG and a former subsidiary of the Swiss drugmaker agreed to pay a combined $347 million to resolve allegations that the companies ran schemes to bribe public hospitals and clinics in Greece, Vietnam and South Korea, U.S. authorities said Thursday. The settlements with Novartis and its former… Read More

26th June 2020

Romania Investigates Allegations of Bribery in Covid-19 Masks Contract

Romania’s National Anti-corruption Directorate, DNA, has launched a criminal investigation into the director general of the state’s pharmaceutical distributor, Unifarm, suspecting that he demanded a bribe of 760,000 euros to facilitate a contract for the purchase of 3 million protection masks in March. According to the DNA, Ionel Eugen Adrian… Read More

22nd June 2020

Bangladesh dirty money fight complicated by coronavirus twist

While Bangladesh is depending on global lenders for aid to weather coronavirus-induced health and economic crises, its medical administration remains unusually generous to suppliers of medical equipment and services. The Directorate General of Health Services, the country’s national health agency, quotes prices paid for procurement of medical personnel safety goggles,… Read More

18th June 2020

Concerns over offshore ownership of Scotland’s care homes

Concerns have been raised about the secretive offshore ownership and financial health of some big care providers. That’s been prompted by elderly residents in care homes accounting for almost half of Scotland’s coronavirus deaths. Any future inquiry is likely to focus on a lack of personal protective equipment (PPE), failure… Read More

8th June 2020

Former Tanzanian Senior Health Official Charged With Organising Criminal Gang, Money Laundering

Tanzania’s former managing director of state-run Medical Stores Department (MSD) Laurean Bwanakunu on Friday appeared in court charged with five counts, including organizing a criminal gang and money laundering. Bwanakunu and MSD’s acting logistics director Byekwaso Tabura appeared before the Kisutu Resident Magistrate’s Court in the commercial capital, Dar es… Read More

5th June 2020

Ex-Ecuador president detained in COVID-19 corruption raid

AP – A former Ecuadorian president has been detained after authorities raided his home Wednesday and found a gun and medical supplies including masks as part of a wider investigation into corruption during the pandemic. Prosecutors and police charged into the home of ex-President Abdalá Bucaram, 68, in Guayaquil,… Read More

3rd June 2020

Tips to SEC Surge as Working From Home Emboldens Whistleblowers

A new side effect of remote working, layoffs and furloughs stemming from the coronavirus pandemic: more whistleblowers. The U.S. Securities and Exchange Commission received about 4,000 tips, complaints and referrals of possible corporate wrongdoings from mid-March to mid-May, said Steven Peikin, co-director of the SEC’s enforcement division. That number is… Read More

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