Region: Colombia

Colombia's Superintendency of Industry and Commerce (SIC)

Featured in The Due Process Guide 2015

Grade: C+So no improvement then?

09 March 2015

Secret recording of PetroTiger CEO discussing alleged bribes released

The Wall Street Journal has published an edited video of embattled former PetroTiger CEO Joseph Sigelman talking to his longtime general-counsel-turned-FBI-informant, Gregory Weisman. “We have issues, we have big issues,” said Weisman, who is secretly recording the conversation.

05 February 2015

Colombia to launch new anti-corruption body

Colombia plans to create an anti-corruption command force as part of a national transparency campaign, President Juan Manuel Santos announced on 20 January.

22 January 2015

Transcript of undercover PetroTiger recordings released

District Judge Joseph Irenas in the New Jersey District Court has released a transcript of a conversation between former PetroTiger chief executive Joseph Sigelman and his general counsel, Gregory Weisman, who wore a wire as the two discussed an alleged scheme to bribe a Colombian official.

14 January 2015

Colombia proposes OECD-compliant anti-bribery law

The Colombian government has proposed a foreign anti-bribery bill that would make companies liable for transgressions, rather than just individuals, as part of its bid to join the OECD. By Rosanna Butters.

24 November 2014

OFAC imposes drugs sanctions on Colombian football club

The US Office of Foreign Assets Control (OFAC) has placed 10 Colombian citizens and 14 companies, including Colombian football club Envigado and owner Juan Pablo Upegui Gallego, on its Foreign Narcotics Kingpin Designation Act list.

24 November 2014

Cybersecurity strategies: think like a hacker

Cybercrime poses an ever-increasing threat to businesses, but spending on prevention does not yet match the threat level in South America. Edgar D’Andrea of Pricewaterhouse Coopers in Brazil explains why businesses need to rethink their security strategies.

24 October 2014

DoJ expects more cooperation between US and Latin American enforcers

Cooperation between US and Latin American law enforcers will continue to increase according to James Koukios, senior deputy chief of the fraud section in the criminal division of the US Department of Justice, who urged companies to cooperate with authorities.

22 October 2014

Judge blocks subpoena against Sidley Austin

A judge has blocked a defendant from compelling Sidley Austin to hand over documents linked to its internal investigation of oil services company PetroTiger.

20 October 2014

DoJ points to sectors most vulnerable to corruption in LatAm

Evidence from investigations around Latin America suggests that the extractive, utilities and health sectors are among those most vulnerable to corruption, says James Koukios, senior deputy chief of the fraud section in the criminal division of the US Department of Justice.

17 October 2014

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