This section is part of Financial Crime Risk Officer, which is part of the Financial Crime publications group led by World Money Laundering Report.
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The NCA has been granted freezing orders on eight bank accounts containing a total of more than GBP100 million, which is suspected to have derived from bribery and corruption in an overseas nation.
A report in an Indonesian newspaper, tempo.co, says that a national politician has been arrested by the The Corruption Eradication Commission (KPK) for alleged involvement in a corruption scheme that saw him net a big lump sum plus something similar to a royalty on every kilo of garlic imported into the country.
A senior prison officer with a special remit to investigate malfeasance by inmates and fellow officers at a California jail has been charged with accepting bribes and smuggling contraband into the prison.
The facts of the case are just odd. The recipient of a bribe has been jailed and ordered to pay a fine of five times the amount of the bribe. But it's what the bribe was for that beggars belief
It would be nice if the US Department of Justice wrote its media releases in correct English. In this case, despite what the DoJ says, the defendant did not "attempt to extort a marijuana dispensary," he attempted to extort money from the owners of the dispensary. And you thought the only problems California's relaxed attitude to the retailing of MaryJane was how the operators would bank their money. No, the operators are exposed to bad guys wearing suits just as much as bad guys wearing bling and carrying weapons.
In Malaysia, one of the successes of former Prime Minister Najib is something he won't get credit for - and something which is so ironic that it's almost hypocritical. But it's very, very welcome anyway.
Last Wednesday, Malaysians voted to boot their sixth prime minister, Najib, out of office. As the new government set about being formed, it became clear that many senior appointments would be terminated and some not too kindly. Thursday and Friday were public holidays. Saturday and Sunday were days off. Today the head of the Malaysian Anti-Corruption Commission walked into his office and submitted his letter of resignation. (free content)
A director entered into an agreement to bribe someone into making sure the company was awarded a contract worth GBP6 million, approx. A new CEO found out, prevented payments, filed a suspicious activity report, asked the police to investigate. Then it all got complicated ...
The biggest corporate news in South Africa at present is that of State owned Eskom where every epithet relating to being rotten can be applied: one rotten apple spoils the barrel, rotten to the core, fish rots from the head.. but, as South Africa's deputy President under Jacob Zuma and the recently appointed head of the African National Congress (a national political party, not a continent-wide initiative) said in an electrifying speech at Davos yesterday, things have to change.
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.
Ronald S. Calderon, formerly a state senator in California has admitted accepting tens of thousands of dollars in bribes for performing his official duties. No one sees the irony in the fact that he has mitigated his sentence by entering into a plea agreement with the federal government in return for making a cash payment.
