The OCC calls this conflict of interest but, if he were a public official, we’d call it corruption, wouldn’t we? Office of the Comptroller of the Currency Ensuring a safe and sound Federal Banking System for All Americans NR 2016-84 FOR IMMEDIATE RELEASE July 21, 2016 Contact: William […]
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 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? […]
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 […]
On February 27th, the Financial Crime Enforcement Network (FinCEN) assessed a $1.5 milliion civil monetary penalty (CMP) against First National Community Bank (FNCB) of Dunmore, Pennsylvania for violations of the Bank Secrecy Act (BSA) by not filing Suspicious Activity Reports (SARs) for transactions related to a judicial corruption scheme. The […]
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 […]
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 […]
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 […]
From the Justice Department, the full text of the statement: Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Thursday, May 15, 2014 Marubeni Corporation Sentenced for Foreign Bribery Violations Marubeni Corporation, a Japanese trading company involved in the handling of products and provision of services in a broad […]
On Friday, the Canadian FIU issued guidance on the Ukrainian regulations (FACFOU) promulgated recently under the Freezing Assets of Corrupt Foreign Officials Act (FACFOA): Freezing and Disclosure Obligations Under FACFOA All individuals and entities in Canada, and all Canadians outside of Canada, should be aware of the prohibition to conduct […]
