Work Area: Anti-money laundering

Here’s the anti-corruption news you missed over winter break

US President Joe Biden signed a law criminalising the “demand-side” of foreign bribery, the DOJ argued there’s no need to try Sam Bankman-Fried twice and a former Fifa executive asked to be acquitted of a years-old bribery conviction.

02 January 2024

GIR’s post-holiday season news roundup

A very Happy New Year from all of us at Global Investigations Review. Catch up on the news you may have missed over the holidays, including OFAC’s last settlement of 2023, and a new investigation in France linked to BNP Paribas.

02 January 2024

US judge defers decision on vacating ex-FIFA official’s conviction

US District Judge Pamela Chen said she would wait for a forthcoming ruling by an appeals court to decide whether to vacate the conviction of former Brazil football chief José Maria Marin in a widespread corruption scheme at FIFA.

19 December 2023

US Congress passes bill criminalising “demand side” of foreign bribery

The legislation, tucked inside an annual defence spending bill, makes it an offence punishable by up to 15 years in prison for foreign officials to demand or accept bribes from US individuals or companies. One advocate told GIR it “flips the calculus” in the fight against global corruption.

15 December 2023

GIR in-house interview: Dmitry Lukovsky

Featured in In-house

The head of the global ethics team at Palo Alto Networks said the cybersecurity company began thinking through potential regulatory risks posed by artificial intelligence and its compliance philosophy “long before the words ‘generative AI’ became part of everyday lexicon”.

15 December 2023

Ex-FBI agent sentenced to 50 months in prison for Deripaska business

15 December 2023

Freepoint Commodities to pay $106 million to US authorities over Petrobras bribery scheme

The Connecticut-based oil trading company has entered into a three-year deferred prosecution agreement with the DOJ. It received a 15% discount on its monetary penalty for cooperating with investigators and engaging in various remedial efforts.

14 December 2023

US to return $100 million in stolen 1MDB funds to Malaysia

The money will be used to pay down “significant debt” that Malaysia has racked up from the embezzlement scheme, a DOJ official said.

14 December 2023

New Zealand central bank warns Citibank over AML failures

14 December 2023

Creation of EU anti-money laundering body progresses

The Anti-Money Laundering Authority will directly supervise “high-risk” financial companies and have the power to fine entities for “serious, systematic or repeated” AML breaches.

13 December 2023

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