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corruption

A municipal manager, Sindile Tantsi, has been suspended while South Africa's National Prosecutiing Authority investigate allegations of corruption. Meanwhile, his car, a Mercedes Benz has been seized - along with its car-port.

A startling report published by Malaysia's state media company and widely disseminated raises questions over the granting of loans and the checks made on borrowers. It also raises the question of what problems might follow.

BIScom Subsection: 

The continuing saga of South Korean president PARK Geun-Hye is gripping the South East Asian nation while the rest of the world looks on with mild interest and wonders just how many kinds of kimchi there are. To ignore it would be a mistake.

CoNet Section: 

 

World Money Laundering Report Volume 15 Number 4 World Money Laundering Report Volume 15 Number 4 is now available for download by Site Licence holders.

In this issue:

 

Plunder and corruption by state officials: an action plan for dealing with proceeds of suspected or proven offences.

 

42 year old Garth Peterson has been jailed for nine months plus three years' probation in the USA after admitting bypassing anti-bribery controls at Morgan Stanley in Singapore. But, says the US Department of Justice, the company's systems were good enough: the problem was that Peterson knew his way around them too well.

Hong Kong's Independent Commission Against Corruption has charged a number of people with a range of offences alleged to have been committed against insurance companies.

BIScom Subsection: 

Indonesian authorities are mounting a global manhunt for Muhammad Nazaruddin after he fled the country via Singapore.

The USA's Securities and Exchange Commission has unanimously voted to approve new rules to significantly curtail "pay to play" practices by investment advisers. Why not call it what it is - corruption?

BIScom Subsection: 

The latest plan to restructure the balance sheets of Japanese banks, overburdened with "non-performing loans," is bound to lead to fraud and corruption, says leading counter-money laundering strategist Nigel Morris-Cotterill, Head, The Anti Money Laundering Network.

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