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DOJ/SEC FCPA Enforcement Action: LATAM Airlines

The fines? Totaling $22.2 million, which include a $12.75 million criminal penalty paid to the Department of Justice, $6.74 million in disgorgement, and $2.7 million to the Securities and Exchange Commission in prejudgment interest.  This is part of a 3-year Deferred Prosecution Agreement (DPA) agreed to by LATAM, which is […]

FINMA lowers boom on BSI AG

FINMA took the following actions against BSI AG for significant AML program failures: Levied a 95 million CHF disgorgement Ordered the firm taken over by EFG Ordered the firm liquidated within 12 months Additionally, 2 former managers are now the subject of separate enforcement actions.   What did BSI do? […]

Gotta Catch ‘Em All?

The Department of Justice caught an Army sergeant (and his supervisor, a Master Sergeant) who took over $100,000 in bribes while in Afghanistan from vendors supplying goods for humanitarian relief. It's not likely any PEP database would have identified these folks – yet look at the amounts involved. Link: DOJ […]

Yet another regulator to report to in Thailand

Thai banks, according to the Phuket Gazette, will now be required to report cash transactions over 500,000 Baht and property transactions over 1 million Bt by government officials and offices to the National Anti-Corruption Commission (NACC). This is in addition to the current reporting requirements to the Anti-Money Laundering Office […]

Yet another regulator to report to in Thailand

Thai banks, according to the Phuket Gazette, will now be required to report cash transactions over 500,000 Baht and property transactions over 1 million Bt by government officials and offices to the National Anti-Corruption Commission (NACC). This is in addition to the current reporting requirements to the Anti-Money Laundering Office […]

Airbus corruption on UK radar

The FCPA Blog reports that the Serious Fraud Office (SFO) has questioned and detailed four current and former employees of an Airbus subsidiary. The investigation is into allegations that the subsidiary, GPT Special Project Management Ltd. provided bribes to Saudi officials to win a 2 billion GBP contract to upgrade […]