Region: Afghanistan

New Afghan president reopens bank scandal probe

The new president of Afghanistan has reopened the investigation of Kabul Bank, which almost collapsed in 2010 after losing close to US$1 billion. Ashraf Ghani told reporters in Kabul that this was the “first step” in fulfilling his campaign promise to fight administrative corruption.

03 October 2014

Hedge funds misrepresenting holdings, says SEC official

Recent examinations by the US Securities and Exchange Commission (SEC) of hedge funds have revealed a range of malpractices, including alterations made by firms to the way they value investments with the aim of increasing the fees they earn, said the director of the SEC's Office of Compliance Inspections and Examinations.

23 September 2014

Individuals plead guilty to laundering bribes from Afghanistan

Two individuals have pleaded guilty to charges brought by the US Department of Justice concerning their involvement in a scheme to launder US$250,000 worth of bribes taken from contractors in Afghanistan.

29 May 2014

FATF considers blacklisting Afghanistan

The Financial Action Task Force (FATF) has warned Afghanistan it must pass anti-money laundering legislation soon or face being blacklisted, which could lead to Afghan banks being cut off from international financial institutions.

27 May 2014

SEC subpoenas United Technologies

The US Securities and Exchange Commission (SEC) is investigating engineering, technology and defence company United Technologies after it self-reported an internal investigation of a non-employee sales representative to the agency.

28 April 2014

IBA Turkey: US corporate criminality generates "unfair results"

Companies in the US face criminal liability for actions committed by even low-level employees, says former US Department of Justice (DoJ) prosecutor Gregory Kehoe. Tom Webb at the IBA Trans-National Crime Conference in Istanbul.

07 April 2014

Contractor pleads guilty to US army bribes

The US Federal Bureau of Investigation reports that an independent contractor for a trucking company delivering fuel to the US army in Afghanistan has admitted to his role in offering bribes to an army serviceman to cover up missed fuel deliveries.

18 February 2014

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