Latest: Corruption and Money Laundering.

5:59 pm ET
May 21, 2015

May 21, 2015
BRIBERY
Corruption Currents: Money Continues Flowing to Somalia

- A money changer waits for customers at a local bureau where $100 U.S. dollar exchange for 750,000 Somaliland shillings in Hargeysa, Somalia, on May 19, 2015.
- Reuters
A daily roundup of corruption news from across the Web. We also provide a daily roundup of important risk & compliance stories via our daily newsletter, The Morning Risk Report, which readers can sign up for here. Follow us on Twitter at @WSJRisk.
Bribery:
As Brazil’s biggest corruption scandal threatens its economy, there are more arrestsand political threats. (Bloomberg, WSJ, WSJ)
More U.K. Bribery Act cases are on the way. (Cordery)
Edinburgh councilors admitted taking lap dances as bribes in exchange for contracts. (Daily Record, BBC)
An Indian court ruling is leading the Delhi government to pull ads featuring its chief minister telling people to fight bribery and corruption. (PTI)
A Sri Lankan anti-bribery official resigned. (Colombo Page)
The FCPAProfessor analyzes the BHP Billiton BLT.LN 0.00% case. The FCPA Blogcompletes a series and reports on a whistleblower’s award. Mike Volkov finishes a series on corporate prosecutions.
Money Laundering:
Money keeps flowing to Somalia despite the absence of remittance services, closed due to money laundering risks. (Foreign Policy)
Shares of Plus500 plummeted after it said it had to close accounts due to anti-money laundering checks. (Financial Times)
A Las Vegas bank that planned to offer accounts to medical marijuana businesses hasbacked off, citing the cost of complying with federal regulations. (Las Vegas Review-Journal)
Should a bank, citing money laundering risk, be able to force someone to chooseunder which name they want to open an account? (Guardian, Daily Telegraph)


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