SBM Offshore Faces Swiss Probe Over Legacy Bribery Allegations
1st December 2020
SBM Offshore Faces Swiss Probe Over Legacy Bribery Allegations
Oil-services firm SBM Offshore NV is facing an investigation by the Swiss government into bribery allegations that the company said it has already paid hundreds of millions of dollars to resolve in three other countries. Amsterdam-based SBM Offshore said Monday that three of its subsidiaries had received notice of… Read More
British fraud office secures assets linked to Brazilian bribery scandal
13th November 2020
British fraud office secures assets linked to Brazilian bribery scandal
The UK Serious Fraud Office (SFO) said on Thursday it had secured just under 1.2 million pounds ($1.6 million) from a Brazilian national implicated in Brazil’s “Operation Car Wash”, the country’s biggest bribery investigation that began in 2014. The SFO said it opened a civil recovery investigation into Julio Faerman… Read More
Antibribery Group Presses Netherlands to Strengthen Whistleblower Protections
9th November 2020
Antibribery Group Presses Netherlands to Strengthen Whistleblower Protections
The Netherlands has ramped up its enforcement of foreign bribery since 2012, but it still faces challenges in prosecuting individuals and fully using its whistleblower protection program, an international antibribery watchdog said. The Organization for Economic Cooperation and Development Working Group on Bribery in International Business Transactions, in a report… Read More
Dutch Police Seize $33 Million in Bitcoin from Couple Accused of Money Laundering
30th October 2020
Dutch Police Seize $33 Million in Bitcoin from Couple Accused of Money Laundering
Prosecutors from the Netherlands have seized 2,532 bitcoins worth $33 million after a couple was convicted of money laundering by the Rotterdam District Court. The man and his wife were sentenced to two years for illegal money transmission and the court claims the couple’s bitcoin stash was used on the… Read More
As a Slovenian Tycoon’s Empire Crumbled, His Bank Accounts Swelled
27th October 2020
As a Slovenian Tycoon’s Empire Crumbled, His Bank Accounts Swelled
By Anuška Delić (Oštro/OCCRP), Matej Zwitter (Oštro) and Maja Čakarić (Oštro), OCCRP, 26 October 2020 OCCRP — After Slovenia’s independence from Yugoslavia in 1991, the former socialist state privatized its assets, giving each citizen a certificate to invest in the few blue-chip firms the country had at the time. The… Read More
The AML System: A Failure of Statecraft?
20th October 2020
The AML System: A Failure of Statecraft?
Consider the current state of anti-money laundering efforts across the globe. Around 2% of global GDP is laundered annually, amounting to between $800B – $2T. Banks spend around $8B annually fighting it but affect only 0.1% of criminal finance. What we know then is that the ROI of… Read More
How ING bank in Poland helped Russians launder money
20th October 2020
How ING bank in Poland helped Russians launder money
The Polish unit of the Dutch bank ING, ING Bank Slaski, for years allegedly helped Russian and Ukrainian oligarchs move huge sums of money out of ex-Soviet Union countries, according to the US Treasury’s fraud investigation department, FinCen. FinCen files were leaked to and published by the International Consortium… Read More
The day the international tax authorities came knocking
19th October 2020
The day the international tax authorities came knocking
On a sunny Friday in late January, investigators from the Australian Tax Office issued subpoenas and fired off letters as part of an unprecedented probe that reached around the world. It was a similar scene in Amsterdam, where investigators from the Dutch tax agency set about a similar task. So,… Read More
US, UK fight foreign bribery but most nations do very little
14th October 2020
US, UK fight foreign bribery but most nations do very little
AP – An anti-corruption watchdog on Tuesday ranked the United States and United Kingdom as the largest exporters most active at enforcing rules meant to prohibit companies from paying bribes in foreign markets, but said many others are doing next to nothing. Berlin-based Transparency International said only four of… Read More
Dutch ship makes waves with record cocaine seizures in Caribbean
6th October 2020
Dutch ship makes waves with record cocaine seizures in Caribbean
By Alessandro Ford, InSightCrime, 5 October 2020 InSightCrime – A patrol ship in the Dutch Caribbean has caught over three tons of cocaine in a rapid series of seizures, displaying how regularly drug shipments traverse the area on their way to Europe and the United States. On September 8,… Read More
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