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Anti-Corruption Daily Newsletter for 09/25/2020
Anti-Corruption Daily Newsletter for 09/25/2020
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Your source for international risk & compliance related news, insights, and best practices.
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The new home of the FCPA Newswire edited by Mike Kenealy
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Anti Corruption Digest is the most comprehensive source for global risk & compliance related news, insights, and best practices.
Readers are welcome to research the Anti Corruption Digest’s curated database of over fifteen thousand risk and compliance related articles, offer comments on any article as well as submit material for publication.
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By Anti-Corruption Digest on Sep 25, 2020 07:44 am
Hackers disabled computer systems at Düsseldorf University Hospital and the patient died while doctors attempted to transfer her to another hospital.
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By Anti-Corruption Digest on Sep 25, 2020 07:39 am
Brazilian digital identity authentication provider Acesso Digital has raised 580 million reals (US$108 million) in a Series B funding round to build on the recent growth of its facial biometrics and other solutions and increase its customer base.
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By Anti-Corruption Digest on Sep 25, 2020 07:30 am
Bandages, dressings, whatever you want to call thems are an important part of healing a wound properly, and they’ve been used through the ages, even since ancient Egyptian times.
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By Anti-Corruption Digest on Sep 25, 2020 07:16 am
NBI legal assistance bureau chief Atty. Joshua Paul Capiral and his brother, BI officer Christopher John Caapiral were presented for inquest before the DOJ on Wednesday morning for robbery/extortion in violation of the Revised Penal Code (RPC); violating Republic Act 3019, the Anti-Graft and Corrupt Practices Act;
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By Anti-Corruption Digest on Sep 25, 2020 07:13 am
Westpac has agreed to pay the largest fine in Australian corporate history — a $1.3 billion civil penalty for more than 23 million breaches of anti-money laundering laws.
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By Anti-Corruption Digest on Sep 25, 2020 07:12 am
Every month, under the flag of Operation Mega Flex, U.S. Customs and Border Protection (CBP) does an enhanced inspection of small parcels arriving, primarily, from China.
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By Anti-Corruption Digest on Sep 25, 2020 07:09 am
Israeli cybersecurity firm Check Point reported on Thursday that was able to locate a significant security breach on Instagram that allows a third party to assume control over the personal phone of the user. A massively popular social media application with roughly a billion monthly users, the possible damage a security breach – an #InstaHack – could cause is enormous.
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By Anti-Corruption Digest on Sep 25, 2020 06:59 am
A ransomware attack last spring at Simon Fraser University (SFU) reportedly compromised the personal information of about 250,000 students, faculty and alumni. The bad actors breached a database that contained the personal information of every person who joined the school before June 20, 2019.
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By Anti-Corruption Digest on Sep 25, 2020 06:57 am
Most UK firms are set to increase digital adoption after admitting that the cloud saved their business from collapse during the early months of the COVID-19 crisis, but security remains a persistent challenge, according to new research.
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By Anti-Corruption Digest on Sep 25, 2020 06:53 am
Over the past five years, Western countries' exports made up the bulk of weapons delivered to the Middle East and North Africa, according to a report published this week by the Washington-based Center for International Policy (CIP).
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By Anti-Corruption Digest on Sep 25, 2020 06:52 am
China will adopt more vigorous policies to ensure carbon dioxide emissions peak before 2030, and carbon neutrality is achieved before 2060, President Xi Jinping told the United Nations.
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By Anti-Corruption Digest on Sep 25, 2020 06:49 am
DUBAI/JERUSALEM (Reuters) - The United Arab Emirates and Israel share threats to their national online networks, the Israeli cyber-security chief said on Thursday in a rare public discussion of potential cooperation with his counterpart following the normalisation of relations.
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By Anti-Corruption Digest on Sep 25, 2020 06:42 am
President Jair Bolsonaro assumed office in 2019 with the goal of aligning Brazil’s foreign policy with Western democracies and ending the economic dependence on China that grew markedly under his predecessors in the left-wing Workers’ Party. In his presidential campaign, Bolsonaro positioned himself as a candidate of the right, speaking out against “socialism” and “communism,” with pointed references to neighboring Venezuela, and openly identified with the right-wing populist message of U.S. President Donald Trump.
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By Anti-Corruption Digest on Sep 24, 2020 06:16 am
In a chapter on liars and lying in his Essays, Michel de Montaigne draws distinctions between truth and its opposite. There is not only the distinction “betwixt an untruth and a lie, and say that to tell an untruth is to tell a thing that is false, but that we ourselves believe to be true.” There is also the distinction between forms of lying and of telling the truth: “If falsehood had, like truth, but one face only, we should be upon better terms; for we should then take for certain the
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By Anti-Corruption Digest on Sep 24, 2020 06:14 am
NEW YORK: JPMorgan Chase & Co is set to pay nearly US$1 billion to resolve market manipulation investigations by US authorities into its trading of metals futures and Treasury securities, a person familiar with the situation said on Wednesday.
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By Anti-Corruption Digest on Sep 24, 2020 06:13 am
In March 2014, three men kidnapped Reynaldo Pacheco and bludgeoned his head with rocks, leaving the 44-year-old father of a young daughter dead in a creek bed in California’s Napa County. Local authorities determined that his murder was a consequence of an investment fraud that targeted low-income Latino and Asian immigrants around the world.
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By Anti-Corruption Digest on Sep 24, 2020 06:11 am
A court in Beijing Tuesday gave Chinese property tycoon Ren Zhiqiang, who once referred to China’s top leader, Xi Jinping, as a “clown,” an 18-year prison sentence and a fine of $620,000 after finding him guilty of corruption, bribery, embezzlement of public funds and abuse of power as an executive of a state-owned enterprise.
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By Anti-Corruption Digest on Sep 24, 2020 06:08 am
When the COVID-19 pandemic began, countries imposed curfews, roadblocks, and mandatory quarantines to slow the spread of the virus.
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By Anti-Corruption Digest on Sep 24, 2020 06:05 am
Bribery, brutality and abuse of power are some of the key trends uncovered within the police service in the latest analysis published by Corruption Watch.
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By Anti-Corruption Digest on Sep 24, 2020 05:48 am
The Certified Financial Planner Board of Standards began enforcing its new Code of Ethics and Standards of Conduct on June 30, 2020. This means a CFP is obligated to act as a fiduciary and in the best interest of his or her client at all times when providing financial planning or advice.
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By Anti-Corruption Digest on Sep 24, 2020 05:45 am
Tanzanian lawyer and former president of the mainland bar association Fatma Karume has been removed from the roll of advocates, meaning she can no longer practice law.
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By Anti-Corruption Digest on Sep 24, 2020 05:44 am
In this first feature on environmental compliance and good governance, I discuss the broad implications for golf of the term “governance” with Alistair Collier, whose legal background is eclectic.
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By Anti-Corruption Digest on Sep 24, 2020 05:43 am
A research team led by a philosopher at the University of California, Riverside, has conducted the first controlled study aiming to discover whether such a correlation exists using direct observational data rather than self-reported information.
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By Anti-Corruption Digest on Sep 24, 2020 05:41 am
Watching the compliance industry and advocating for the compliance profession can be frustrating. Corporate boards and senior management know the importance of committing to a culture of compliance. To accomplish that task requires focus, determination and commitment.
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By Anti-Corruption Digest on Sep 24, 2020 05:38 am
LETTERS: I refer to 'Company deputy director charged with sacking whistleblower who exposed him', dated September 18, 2020, where a senior official at Education Malaysia Global Services was charged under the Whistleblower Protection Act 2010 for taking action against an employee who exposed his improper conduct to the Malaysian Anti-Corruption Commission (MACC).
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By Anti-Corruption Digest on Sep 24, 2020 04:55 am
The Estonian banker was frantic: A whistleblower inside the bank suspected nine anonymous companies — all registered in the United Kingdom — of serious financial crimes and was threatening to go to authorities.
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By Anti-Corruption Digest on Sep 24, 2020 04:51 am
Asia-focused bank HSBC (HSBC) has been hit by yet more bad news, this time in the shape of money laundering allegations. The shares have fallen in response. That is set against a general backdrop of share price decline for the name, which may continue as the economy deteriorates further. However, at this stage, I expect the shares to bottom and start a recovery. While I do not like the company as an investment option, for readers who are eyeing it, I think it is
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By Anti-Corruption Digest on Sep 24, 2020 04:49 am
We’ve just had the closest look yet at the global battle against money laundering, and it’s deeply troubling: Banks and their regulators are nowhere near restraining the flow of trillions of dollars of illicit funds.
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By Anti-Corruption Digest on Sep 24, 2020 04:47 am
Some of the world’s largest banks, including JPMorgan Chase, HSBC, and Deutsche Bank, allowed criminals to launder about $ 2 trillion (£ 1.5 trillion) of badly obtained money from 1999 to 2017, according to leaked FinCEN files. The investigation was conducted by 109 media outlets, together with the International Consortium of Investigative Journalists (ICIJ).
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By Anti-Corruption Digest on Sep 24, 2020 04:46 am
Police in Malta have arrested the country’s former top government adviser, Keith Schembri, and his auditor, Brian Tonna, following an inquiry into alleged kickbacks from passport sales to wealthy Russians, according to local newspaper reports.
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Anti-Corruption Daily Newsletter for 09/23/2020
Anti-Corruption Daily Newsletter for 09/23/2020
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Your source for international risk & compliance related news, insights, and best practices.
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The new home of the FCPA Newswire edited by Mike Kenealy
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Anti Corruption Digest is the most comprehensive source for global risk & compliance related news, insights, and best practices.
Readers are welcome to research the Anti Corruption Digest’s curated database of over fifteen thousand risk and compliance related articles, offer comments on any article as well as submit material for publication.
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By Anti-Corruption Digest on Sep 23, 2020 12:42 pm
‘We believe…that the freedom of the Filipino people depends on the balance of power in the South China Sea to the exclusion of no other great power in the world,’ says Foreign Secretary Teodoro Locsin Jr
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By Anti-Corruption Digest on Sep 23, 2020 08:51 am
Over the past few weeks, several regions in southern, eastern, and central China have experienced torrential rains and large-scale flooding. Affected regions include Hubei province, where Wuhan (the epicenter of the ongoing COVID-19 pandemic) is located.
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By Anti-Corruption Digest on Sep 23, 2020 08:50 am
HSBC, Europe’s largest bank, had just been caught allowing a network of drug kingpins, including the notorious Joaquín “El Chapo” Guzmán, to launder more than $880 million through its accounts. And it had brazenly done business in off-limits countries such as Sudan and Myanmar.
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By Anti-Corruption Digest on Sep 23, 2020 08:48 am
A television actress who was detained for flouting Covid-19 safety measures told of her regret after being hit with a Dh10,000 fine.
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By Anti-Corruption Digest on Sep 23, 2020 08:47 am
BEIJING: Chinese real estate tycoon and outspoken critic of President Xi Jinping was jailed for 18 years on Tuesday (Sep 22) for "corruption, bribery and embezzlement of public funds", a court statement said.
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By Anti-Corruption Digest on Sep 23, 2020 08:45 am
Civil society group Corruption Watch has published its latest corruption trends report based on accounts it has received from the start of the year until the end of June.
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By Anti-Corruption Digest on Sep 23, 2020 08:45 am
Corruption has become so overwhelming in South Africa that some in our midst have given up reading newspapers or watching TV. Coupled with the other criminal acts and unemployment, we are such a depressed society in South Africa that we tend to ask each other whether we are a failed state or not, without bothering to check what constitutes a failed state.
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By Anti-Corruption Digest on Sep 23, 2020 08:28 am
In the mid-1990s, Eastern Europe (as it emerged from being part of the Soviet bloc) and Latin America had an almost identical GDP per capita of about 27 percent that of the United States.
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By Anti-Corruption Digest on Sep 23, 2020 08:26 am
Despite these challenges, South Africa and Egypt are among the countries which have begun clinical trials of possible vaccines. Others are Brazil, the USA, and the UK.
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By Anti-Corruption Digest on Sep 23, 2020 08:25 am
PLDT Inc. (PLDT) and Smart Communications, Inc. (Smart) were among the companies recognized at the 75th session of the United Nations General Assembly (UNGA 75) in New York for supporting the organization’s call for international cooperation, specifically in aspects concerning good governance and ethical business practices.
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By Anti-Corruption Digest on Sep 23, 2020 08:24 am
On 31 December 2020, the transition period between the UK and the EU will come to an end and EU law will cease to apply to the UK. While much of the focus of Brexit planning to date has quite rightly been on the impact of the UK's departure for supply chains, customs readiness and VAT/tax registrations, the expiry of the transition period will also have some corporate compliance implications for UK registered companies operating in Ireland and Irish companies with UK connections which may not have received the same level of attention.
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By Anti-Corruption Digest on Sep 23, 2020 08:22 am
Giant corporations that make sustainability pledges have long faced justified skepticism over greenwashing, but several recent moves look somewhat more "green" and less "washy."
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By Anti-Corruption Digest on Sep 23, 2020 08:20 am
Today, the Securities and Exchange Commission (SEC) issued a whistleblower award of $2.4 million to an individual whose reporting led to an investigation that stopped ongoing fraud and misconduct.
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By Anti-Corruption Digest on Sep 23, 2020 07:45 am
In a year-long investigation by BuzzFeed and the International Consortium of Investigative Journalists, reporters pored over about 2100 suspicious activity reports, or SARs, which lenders file to the US Treasury's Financial Crimes Enforcement Network (FinCEN) when they spot potential money laundering and other bad behaviour.
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By Anti-Corruption Digest on Sep 23, 2020 07:43 am
A leak of U.S. Treasury Department records on red-flagged financial transactions underscores a message that national security officials, banks and regulators have been sending for more than a decade: Anti-money-laundering rules need to be updated to better disrupt illicit cash flows.
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By Anti-Corruption Digest on Sep 23, 2020 07:41 am
A mailbox address in Belfast was used by one of the account holders in a Russian money-laundering network that processed hundreds of millions of US dollars, according to a leaked report seen by The Irish Times.
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By Anti-Corruption Digest on Sep 23, 2020 07:39 am
MANILA, Philippines — The Anti-Money Laundering Council (AMLC) is pushing for the swift resolution of administrative cases of money laundering and terrorism financing in the country by imposing lower penalties or fines on violators who immediately take steps to correct such violations.
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By Anti-Corruption Digest on Sep 23, 2020 07:39 am
Football clubs will have to step up internal controls amid growing attention to criminal activity in sports by anti-money laundering agencies.
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By Anti-Corruption Digest on Sep 23, 2020 07:34 am
HSBC’s shares fell to their lowest level in 25 years on Monday as the bank faced allegations of money laundering and concerns about its ability to expand in Asia amid the fallout from the Covid-19 pandemic.
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By Anti-Corruption Digest on Sep 23, 2020 07:33 am
After three years of digging, investigators in the United States had accumulated a mountain of evidence that they believed sealed the case against Kaloti Jewellery Group, one of the largest gold traders and refiners in the world.
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By Anti-Corruption Digest on Sep 23, 2020 07:32 am
The financial sector was hit hard Monday following a report alleging that a number of banks, JPMorgan, HSBC, Standard Chartered Bank, Deutsche Bank and Bank of New York Mellon among them, have continued to profit from illicit dealings with disreputable people and criminal networks despite previous warnings from regulators.
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By Anti-Corruption Digest on Sep 23, 2020 07:05 am
With social media and digital engagement becoming increasingly popular, marketing and sales teams are investing heavily in growing their digital footprint to drive brand and generate revenues. Fake social media accounts too are posing as the original brand, to steal your hard-earned followers and destroy customer loyalty and create distrust.
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By Anti-Corruption Digest on Sep 23, 2020 07:05 am
Anglicare Sydney has been hit by a ransomware attack that saw attackers exfiltrate 17GB of data.
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By Anti-Corruption Digest on Sep 23, 2020 07:04 am
According to reports, more than 500,000 Activision accounts may have been hacked with login data compromised. The eSports site Dexerto has reported that a data breach occurred on Sunday, September 20. The credentials to access these accounts are, Dexerto said, being leaked publicly, and account details changed to prevent easy recovery by the rightful owners. Activision accounts are mostly used by players of the hugely popular Call of Duty franchise. Several eSports and gaming accounts on Twitter have also reported the suspected breach. The first was @Okami, founder of Respawnable, who tweeted, "It's legit," adding that players should change their account passwords immediately.
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By Anti-Corruption Digest on Sep 23, 2020 07:02 am
The Ministry of Electronics and Information Technology (MeITY) told the Parliament on Monday that Indian citizens, commercial and legal entities faced almost 7 lakh cyber attacks till August this year.
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By Anti-Corruption Digest on Sep 23, 2020 07:01 am
Egyptian Foreign Minister Sameh Shoukry has called for the international community to confront terrorism that “seeks to dismantle national states,” Al Ain News online reported. His comments at the UN were addressed to the global community, urging security and peace.
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By Anti-Corruption Digest on Sep 23, 2020 06:59 am
Latin American states have benefited from regional cooperation to improve their cybersecurity but are not leveraging this cooperation for issues of international peace and stability in cyberspace. This paper examines the region’s international role and balancing exercise.
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By Anti-Corruption Digest on Sep 23, 2020 06:58 am
Universities and colleges are being warned by the UK's cyber-security agency that rising numbers of cyber-attacks are threatening to disrupt the start of term.
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By Anti-Corruption Digest on Sep 23, 2020 06:49 am
The CEO of British technology company VST Enterprises Ltd (VSTE) has warned the UK Government of potential serious flaws in the security of personal data used in the contact tracing app announced by Secretary of State for Health Matt Hancock.
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By Anti-Corruption Digest on Sep 23, 2020 06:48 am
In the past, children were mostly banned from active participation in wars. But that changed in the 20th century, when children were used in national and colonial liberation conflicts, write Mia Bloom and John Horgan of Georgia State University in their book “Small arms. Children and terrorism”. In the past 20 years, the number of child soldiers and children in armed organisations, gangs and guerrilla groups has grown massively. Children are also increasingly being used directly in armed struggle.
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Anti-Corruption Daily Newsletter for 09/21/2020
Anti-Corruption Daily Newsletter for 09/21/2020
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Your source for international risk & compliance related news, insights, and best practices.
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|
|
|
The new home of the FCPA Newswire edited by Mike Kenealy
|
|
|
|
Anti Corruption Digest is the most comprehensive source for global risk & compliance related news, insights, and best practices.
Readers are welcome to research the Anti Corruption Digest’s curated database of over fifteen thousand risk and compliance related articles, offer comments on any article as well as submit material for publication.
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By Anti-Corruption Digest on Sep 21, 2020 10:35 am
China said Saturday it had officially implemented a mechanism enabling it to restrict foreign entities, a much-anticipated move seen as a reprisal against US penalties imposed on Chinese companies such as telecom giant Huawei.
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By Anti-Corruption Digest on Sep 21, 2020 10:34 am
Amid a global assault on human rights stretching from Belarus to Hong Kong to Yemen, the European Union signaled yesterday that it may act to deter corrupt kleptocrats and state abusers by hitting them where it hurts: their assets.
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By Anti-Corruption Digest on Sep 21, 2020 10:32 am
An explosive report by Eskom CEO Andre de Ruyter to the Eskom board reveals Eskom’s position in respect of unproven allegations of corruption, nepotism and victimisation orchestrated against chief operating officer Jan Oberholzer on social media and other platforms.
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By Anti-Corruption Digest on Sep 21, 2020 10:30 am
Hong Kong’s Securities and Futures Commission (SFC) today announces that it has reprimanded The Bank of East Asia, Limited (BEA) and fined it $4.2 million for regulatory breaches related to its failure to segregate client securities.
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By Anti-Corruption Digest on Sep 21, 2020 10:28 am
The closed session of the Democracy, Rule of Law and Fundamental Rights Monitoring Group was dedicated to the situation in Bulgaria, amid media reports of large-scale corruption endorsed at the highest political level.
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By Anti-Corruption Digest on Sep 21, 2020 10:07 am
US Secretary of State Mike Pompeo has announced the imposition of sanctions (pursuant to Executive Order 13553) on Iranian cyber threat group Advanced Persistent Threat 39 (APT39), 45 associated individuals, and Rana Intelligence Company (Rana), a firm accused of acting as a “front company” for APT39.
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By Anti-Corruption Digest on Sep 21, 2020 10:01 am
So I asked ethical hackers CyberNews to see if they could break into the personal accounts of Money Mail staff, armed with only our names and email addresses — with their permission!
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By Anti-Corruption Digest on Sep 21, 2020 09:57 am
“[T]he DAO had a huge part to play in the early history of Ethereum,” Leising writes. “It’s not overstating it to say that the DAO made Ethereum.” That’s because it was one of the earliest examples that Ethereum’s network of computers was resilient enough to support complex applications.
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By Anti-Corruption Digest on Sep 21, 2020 09:49 am
Anger among women over gender violence and a perception that government is doing little to address the issue has been surfacing once again, spreading across Mexico into at least eight states this week.
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By Anti-Corruption Digest on Sep 21, 2020 09:47 am
The Emirati Minister of State for Food Security and the Israeli Minister of Agriculture discussed opportunities for closer collaboration in achieving better food and water security. Both countries have made significant investments in agricultural and water research and development to find innovative methods to produce food and conserve water in arid environments.
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By Anti-Corruption Digest on Sep 21, 2020 09:44 am
Egyptian security forces have been deployed in several areas across the main Egyptian cities, preparing themselves for possible anti-regime protests called for by exiled opposition figure Mohamed Ali, Anadolu Agency reported on Friday.
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By Anti-Corruption Digest on Sep 21, 2020 09:42 am
Atangle of jurisdictional disputes over the definition of air and sea rights, growing tensions over offshore gas and oil exploration and the militarization of certain Greek Islands in the Aegean and Eastern Mediterranean seas have been plaguing Turkish-Greek relations. Amid simmering tensions, experts point to the fact that the militarization of islands close to the Turkish mainland poses a threat to Ankara’s national security.
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By Anti-Corruption Digest on Sep 21, 2020 09:39 am
Breaching cyber security a malware attack on 100 computers of the National Informatics Centre (NIC) was reported on Friday. The government’s nodal agency NIC is responsible for securing critical cyber-infrastructure in the country and comes under the Ministry of Electronics and Information Technology (MeitY).
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By Anti-Corruption Digest on Sep 21, 2020 09:37 am
Speaking at one of a series of international meetings among heads of State to enhance global cooperation in fighting terrorism and violent extremism, as part of the Aqaba Process, Secretary-General António Guterres said the pandemic was more than a global health crisis.
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By Anti-Corruption Digest on Sep 21, 2020 09:36 am
ADDIS ABABA, Ethiopia (AP) — Ethiopia has charged its most prominent opposition figure, Jawar Mohammed, and 23 others with terrorism-related offenses, telecom fraud and other crimes, the attorney general’s office announced Saturday. They could face life in prison if convicted.
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By Anti-Corruption Digest on Sep 21, 2020 09:32 am
September 16, 2020 - SecurityScorecard and DarkOwl LLC recently released a report, which found that the rapid increase in telehealth use during the COVID-19 pandemic has led to an increased data footprint, leaving both provider and patient data at risk.
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By Anti-Corruption Digest on Sep 21, 2020 06:37 am
Cybersecurity oversight is a key fiduciary responsibility for a board of directors and was a significant concern for companies even before the COVID-19 pandemic forced so many organizations to suddenly shift to remote work. Data breaches and other cyber threats pose significant competitive, reputational, and litigation risks and require increasingly costly investments to prevent, detect, and respond to. Changes in the environment as a result of the pandemic have created new risks that need to be managed with board oversight.
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By Anti-Corruption Digest on Sep 21, 2020 06:35 am
Corporate boards have a fiduciary responsibility to manage risk, especially against major events that could overwhelm an organization and devastate shareholders’ investments. The Covid-19 pandemic has forced new attention on board’s responsibilities.
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By Anti-Corruption Digest on Sep 21, 2020 06:33 am
While I was hiking recently with my family, a woman came toward us from the other direction, wearing a standard face mask. As we neared, she jumped to the edge of the trail and then pointed at us. Firmly, but not rudely, she asked us to keep our distance while we passed.
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By Anti-Corruption Digest on Sep 21, 2020 06:32 am
Alexander hamilton and his colleagues wrote 85 separate essays to make their case that Americans should take a risk and ratify the 1787 Constitution. Three sentences into the very first of those Federalist Papers, Hamilton made clear that he knew full well the stakes of the gamble he and his co-authors were proposing.
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By Anti-Corruption Digest on Sep 21, 2020 06:30 am
It is no surprise if business leaders confidently believe that corporate compliance is under control in their organisation when they have in place a clear set of rules and policies dictating what conduct is acceptable. Most companies have such rules and are generally surprised when things go wrong and incidents of bad behaviour are discovered.
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By Anti-Corruption Digest on Sep 21, 2020 06:28 am
Before Adam Smith, the world believed that the wealth of a nation was limited by its resources. Wealth of Nations fundamentally altered the way people thought about the economy and relations between the state, society and the individual. It proclaimed that a nation’s wealth can be increased without any limit based on three simple tenets: pursuit of self-interest, division of labour and free trade. Underlying all three is the use of capital which is nothing but surplus profits from any economic activity that needs to be recycled back into it to increase its scale to generate more profits, and so on in an increasing spiral, creating limitless wealth for a nation.
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By Anti-Corruption Digest on Sep 21, 2020 06:25 am
The International Consortium of Investigative Journalists collaborates with hundreds of members across the world. Each of these journalists is among the best in his or her country and many have won national and global awards. Our monthly series, Meet the Investigators, highlights the work of these tireless journalists.
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By Anti-Corruption Digest on Sep 21, 2020 06:25 am
DURBAN - The Minister for the Public Service and Administration, Senzo Mchunu, has directed government departments to ensure that officials enrol for the compulsory Ethics in the Public Service Online Course offered by the National School of Government (NSG).
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By Anti-Corruption Digest on Sep 21, 2020 05:58 am
Secret U.S. government documents reveal that JPMorgan Chase, HSBC and other big banks have defied money laundering crackdowns by moving staggering sums of illicit cash for shadowy characters and criminal networks that have spread chaos and undermined democracy around the world.
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By Anti-Corruption Digest on Sep 21, 2020 05:57 am
In the current COVID-19 context, the Secretary General warned that criminals must not be allowed to take advantage of the current crisis for their own profit. To tackle this risk, she called on MONEYVAL members to closely follow emerging trends in money laundering practices, including the use of technological innovations which may be misused by criminals.
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By Anti-Corruption Digest on Sep 21, 2020 05:53 am
The Islamic State’s infamous rule over vast areas of Iraq during 2014 and 2016 not only led to a humanitarian crisis, but also left the country’s economy depleted. Its expansion in Iraq, marked by its control over vast areas of the country, most notably capturing the city of Mosul in June 2014, also allowed the organisation to seize over 121 bank branches according to the Central Bank, in what was described as one of the largest bank robberies the world has ever seen. Across its operations, the Islamic State stole a total of approximately $830 million.
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By Anti-Corruption Digest on Sep 21, 2020 05:51 am
An aide to Tanzanian presidential candidate for Alliance for Change and Transparency (ACT-Wazalendo) is being held by the police for questioning on money laundering allegations.
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By Anti-Corruption Digest on Sep 21, 2020 05:49 am
While more than 80% believe themselves to be compliant with anti-money laundering (AML) standards, most banks and financial institutions in South Asia find the growing complexity of the compliance landscape to be somewhat overwhelming.
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By Anti-Corruption Digest on Sep 21, 2020 05:47 am
After the Herald last year published a series of articles raising serious questions about Crown Resorts’ systems for fighting money laundering and criminal activity at its casinos, Crown’s high-profile board reacted with indignation.
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