Publication:
FCRO Subsection:
Friday, 12 January, 2018 - 01:05
A spotlight is being shone onto the world's aircraft manufacturers. Ever since the UK's then Prime Minister, Tony Blair, personally intervened to stop a serious fraud office investigation into payments allegedly made to persons in Saudi Arabia by BAe, the entire industry, from planes to engines to components, is increasingly subject to question. A recent deal between a former executive in a manufacturer and US prosecutors shows the complexity of arrangements intended to obscure corrupt payments and the need for vigilance by financial institutions.