World News

What Companies Do Right (and Wrong) Fighting Bribery and Fraud in Emerging Markets

July 24, 2015

The enormous growth opportunities in emerging markets for large North American- and European-based companies come with significant risks – running afoul of international anti-bribery and fraud regulations chief among them. An overwhelming majority of firms (83 percent) have suffered major loss-making incidents in emerging markets over the last five years, according to a new FTI […]

USA: Blagojevich Ruling Draws Line on What Is, Isn’t Corruption

July 24, 2015

CHICAGO — Federal judges who tossed several of Rod Blagojevich’s corruption convictions endeavored to answer a question legal observers said Wednesday had gone largely unanswered: Just when does an elected official cross the line between legal and illegal political horse-trading? The 7th U.S. Circuit Court of Appeals in Chicago overturned five out of 18 wide-ranging […]

European corruption watchdog praises Ukraine’s reforms, says more must be done

July 22, 2015

Ukraine has implemented satisfactorily, or dealt with in a satisfactory manner most of the recommendations made by the Group of States against Corruption (GRECO), the Council of Europe’s corruption watchdog stated in a report published on July 10. Established in 1999 to monitor anti-corruption efforts in Europe, GRECO said Ukraine had fulfilled 20 of the […]

Corruption: Different sectors, similar challenge

July 22, 2015

Money is a magnet for corruption. In both the world of development and the world of sport, the sums changing hands are considerable. The World Bank currently oversees around $200 billion in development loans. The international sport economy is estimated to be as large as $500 billion. At first glance, the world of sport and […]

New anti-corruption law in Thailand extends death penalty to foreigners

July 15, 2015

Thailand has enacted a new anti-corruption law that extends a maximum penalty of capital punishment to foreigners. Previous legislation provided various punishments, including a possible death penalty, for Thai officials convicted of bribery, though apparently no one was ever executed for the crime. The new statutes, which took effect on 9 July and are part […]

U.S.: Army National Guard Official Sentenced to 42 Months in Prison for Accepting $30,000 Bribe

July 13, 2015

An Army National Guard official was sentenced on Jul. 10 to 42 months in prison for accepting a $30,000 bribe in exchange for steering a $3.6 million contract to a retired sergeant major of the Minnesota Army National Guard and his consulting company. Assistant Attorney General Leslie R. Caldwell of the Justice Department’s Criminal Division, […]

Former Italian PM Berlusconi gets three years in corruption case

July 9, 2015

An Italian court has given former Prime Minister Silvio Berlusconi three years in prison in a corruption case. The court found him guilty of bribing a senator in 2006 in order to topple the then center-left government. The former premier will also be banned from holding any public office for five years, a court in […]

US Dollars

U.S.- Government Contractor Pays $7.8 Million to Resolve Whistleblower Case

July 8, 2015

LB & B Associates, Inc., a North Carolina-based facility management and maintenance government contractor, has settled a lawsuit for $7.8 million, resolving allegations that the company made false statements to the U.S. Small Business Administration (SBA) in order to obtain and retain Section 8(a) certification as a minority and woman-owned business. The certification resulted in […]

photo: reuters

Dozens of witnesses found dead in India multi-million dollar bribery case

July 8, 2015

Dozens of witnesses in a massive fraud case in India surrounding cheating at college and government jobs have been found dead, including four in the past two days. Investigators say thousands of people got jobs or medical degrees from systematic exam cheating that generated millions of dollars in bribes in the state of Madhya Pradesh. […]

Ilicit Flows_World Bank

World Bank: Illicit financial flows and the post-2015 development agenda

July 8, 2015

Last year, the U.S. Department of Justice made a startling announcement: an FBI investigation had uncovered over $480 million in corruption proceeds hidden in bank accounts around the world held by Sani Abacha, former military dictator of Nigeria. In the mid-1990s, Abacha and his family systematically embezzled public funds from the Central Bank of Nigeria […]

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