By SAMUEL RUBENFELD - Wall Street Journal
Bribery:
Two former executives at China Mining Resources Group Ltd.
were sentenced
for bribery in Hong
Kong. (Thomson Reuters Corporate Compliance Completesub req)
The FCPAProfessor checks in on Australia andhopes the B20 follows through. The FCPA Blogcatches South Korean businessmen on
a bender,continues a series on collective action against
corruption, flags an alleged crime ring among Puerto
Rican police and finds limiting cash transactions in
Indonesia to be a hard sell. Richard Bistrong analyzesthe
latest EY Global Fraud survey. Tom Fox triessomething
different and starts a series on risk assessments.
Alexandra Wrage discusses compliance changes in China. Mike
Volkov lists five important traits for a successful
chief ethics and compliance officer. Thebriberyact.com runs
a guest post about a money-back
guarantee for bribe payers.
Money Laundering:
Standard Chartered PLC is aiming to sell part of its business in the United ArabEmirates after it agreed to close some accounts
there in an anti-money laundering settlement with U.S. authorities, two sources
familiar with the plan said
to Reuters. The bank said reviewing accounts is normal and it won’t
comment further.
The closing of a Barclays PLC remittance route to Somaliland could open
up the possibility for
a local industry — if other money-transfer businesses would take the risk.
(Foreign Policy)
New Zealand seized
assets from a
Chinese-born millionaire in a money-laundering probe. A defense lawyer seen
meeting the man said he denied the allegations. (Xinhua)
Two principals of a Hong Kong-based company that came close to
buying New Zealand’s 22 Crafar farms have been convicted of laundering HK$230 million. (Stuff)
Bangladesh’s anti-corruption commission is preparing a
national risk assessmentover concerns about money laundering and
terrorism finance. (Financial Express)
Bahrain is seeing
a rise in suspicious
transactions. (Gulf Daily News)
Brokers are under
scrutiny in India for
not filing suspicious activity reports to the country’s financial intelligence
unit. (PTI)
South Africa’s Julius Malema says he’ll beat fraud, money laundering,
corruption and racketeering charges. (The Citizen)
Sanctions:
A Chicago man was sentenced to more
than seven months in
prison after pleading
guilty to a charge
that he tried to lobby city officials to press then-President ElectBarack Obama to remove U.S. sanctions on Zimbabwe
President Robert Mugabe. (Bulawayo, Chicago Sun-Times, Chicago Tribune)
Tehran says it is
in the process of
completing measures on transparency in its nuclear research that it agreed to with the U.N. atomic
agency. Iran is delaying a London oil
contracts roadshow to
next year to make it possible for Western companies to sign them, an Iranian
oil official said. (Reuters, WSJ, Reuters)
Companies are feeling the
weight of sanctions on Russia. It’s taking
a toll on Germany. The
EU explicitly
said its sanctions on
Russia don’t target loans to Russian companies. A hit list for
Russia President Vladimir Putin is here.
(Law360,RIA Novosti,
Financial Times sub req, Global Capital sub
req, Quartz)
Turkey imposed sanctions on six al Qaeda affiliates in line
with the U.N. Security Council. (Hurriyet, Haaretz)
Lawmakers sent OFAC and the Treasury’s internal
watchdog on a fishing expedition over Jay-Z and Beyonce’s trip to Cuba.
(Sanction Law)
OFAC is limiting excessive searches using its sanctions
screening tools.
Terrorism Finance:
Dan Rather says he would pay
a ransom to free a
reporter. Thomas Ricksdisagrees.
Washington said it ordered Qatar not
to pay a ransom as it brokered
the release of a
reporter. Should news organizations follow
a media blackout on
the abductions of their employees? (CNN, Politico, NY Times, Washington Post,
WSJ)
The Islamic State now resembles the Taliban — but with oil fields.
(Bloomberg)
Whistleblowers:
The case involving Meng-Lin Liu imposed
limits on FCPA
whistleblowers from overseas. (Forbes)
General Anti-Corruption:
Chinese police are questioning the former audit director of China
Resources Holdings Co. Ltd. as part of a broad investigation into suspected
corruption in the state-owned company. (Reuters)
Separately, Chinese smartphone maker Coolpad shelved
its plan to use a
golden casing for its flagship smartphone after being advised by government
officials that the color gold could potentially be seen as promoting a
luxurious lifestyle.(WSJ China Real Time)
Despite the widespread crackdowns, Xi Jinping is riding
a wave of popularity.
(NPR)
The number of IRS Criminal Investigation Division agents could
drop to the lowest
number since the 1970s. (Reuters)
In local politics: Texas Gov. Rick Perry filed a motion
to dismiss the
indictment against him. A secret campaign donation sent Wisconsin’s governor scrambling. The latest in the corruption trial of a former
Virginia governor and his wife is here,here and here.
(WSJ, NY Times, The Nation, LA Times, Washington Post, NY Times, Politico)
The SEC’s use of the so-called “rocket docket” is being
challenged. (Dealbook)
The Global Ethicist takes
questions once a month
on risk and compliance issues.
A Transparency International staffer was displaced in Gaza, and the group isfighting
corruption in
Honduras.=
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