News

Zondo Commission calls for investigation into South African banks

South Africa’s long-running anti-corruption inquiry has asked the country’s financial intelligence unit to investigate whether lenders have complied with anti-money laundering rules.

24 June 2022

Immunity deal for yacht company reveals US strategy for oligarch probes

Former federal prosecutors believe the DOJ’s decision to trade immunity for information about a yacht’s oligarch owner is a warning shot for the yacht building industry and other sectors that serve the super-rich.

24 June 2022

DOJ official: compliance certification to be incorporated into every corporate resolution

The Fraud Section’s revamped compliance unit is also continuing to hire, Lauren Kootman said at a panel on Wednesday.

23 June 2022

US Treasury urges Middle East banks to comply with Russia sanctions

A Treasury Department official has warned lenders in the United Arab Emirates about the extraterritorial reach of US sanctions enforcement.

23 June 2022

Austrac reaps rewards of tough enforcement approach

The head of Australia’s anti-money laundering agency has seen widespread compliance improvements after bringing tough enforcement actions against some of the country’s biggest lenders.

23 June 2022

DOJ to send attorneys overseas for sanctions work

US Attorney General Merrick Garland said he’d be sending three DOJ attorneys overseas to fight Russian illicit finance and sanctions evasion.

22 June 2022

Former Ericsson executives cleared over Djibouti bribery scheme

A Swedish court acquitted four former executives at Stockholm-based telecoms company Ericsson who were accused of bribing high-ranking Djibouti officials including the country’s president to win a lucrative equipment contract.

22 June 2022

FCA fines recidivist insurer over anti-bribery breaches

The UK’s financial regulator has issued a second compliance breach penalty to a London subsidiary of an insurance company at the centre of an apparent SFO bribery investigation.

22 June 2022

Glencore convicted of UK bribery charges

Anglo-Swiss commodities trader Glencore pleaded guilty at a London court to paying millions of dollars in bribes to win oil contracts across West Africa.

21 June 2022

Too many options could hinder UK business crime reforms

Corporate criminal liability reform in the UK is at the mercy of political forces after the government’s law review body failed to outline a clear path forward.

21 June 2022

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