Region: Ukraine

The acting Ukrainian government has signed an anti-corruption initiative with the European Bank for Reconstruction and Development (EBRD) to create an independent body that will handle corruption complaints from companies.

15 May 2014

Asset recovery specialists have cautiously welcomed US Attorney General Eric Holder’s announcement that the Federal Bureau of Investigations (FBI) will create a unit dedicated to tracking down corrupt assets overseas.

02 May 2014

The European Bank for Reconstruction and Development might create a special fund that will be used to pay bonuses to Ukrainian government officials, according to the Kiev Post. The Ukrainian Tax Service chief Ihor Bilous said the scheme might help prevent civil servants from accepting bribes.

28 April 2014

With Indian politician Ramachandra Rao among the accused, India’s Central Bureau of Investigation tells GIR it stands “ready for all cooperation” with the US.

04 April 2014

Lawyers and experts have cast doubt on the strength of the FCPA case against ADM and its subsidiaries. They believe if the case had gone to court, the authorities may have lost, raising the question - are companies in a lose-lose scenario when allegations such as this come to light?

20 March 2014

Rolls Royce has clarified its disclosure of an inquiry by the US Department of Justice (DoJ). The car and engine manufacturer mentioned the DoJ investigation in its annual report, released on 5 March, but has since said it has not been informed of a formal investigation by the US enforcers.

06 March 2014

The Swiss prosecutor’s office in Geneva announced on Friday it has opened a criminal investigation into alleged aggravated money laundering by ousted Ukrainian president Viktor Yanukovych and his son Oleksandr.

03 March 2014

As corruption and money laundering risk alerts are sent out in the US and UK in response to political unrest in Ukraine, observers tell GIR that companies are likely to face increased bribery risks too.

28 February 2014

Anti-corruption organisation Transparency International has sent a letter to the UK chancellor George Osborne highlighting the risk of money being laundered from Ukraine into the UK. The non-government organisation warned Osborne that companies such as financial services providers and luxury estate agents should be prepared to carry out investigations of customers if necessary.

24 February 2014

The collapse in trade negotiations between the European Union and the Ukrainian government will not affect the former Soviet state’s proposed anti-corruption agreement with the European Bank for Reconstruction and Development (EBRD).

29 November 2013