Monday, October 19, 2020

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What Compliance Officers Can Learn from the Notre-Dame Fire

French authorities have investigated the fire that severely damaged Notre-Dame cathedral in Paris, and identified a number of key factors in the progress of the fire. Jonathan J. Rusch observes that several of these are analogous to issues that compliance officers in any enterprise must pay attention to: Management insistence on maintaining high-risk condition Ineffective […]
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Appeals Court Upholds Bribery Conviction of Alstom Network

The Criminal Division of the UK Court of Appeal has upheld the conviction of the British subsidiary of French power and transportation company Alstom, over a bribery case related to an infrastructure contract in Tunisia. The court found that “directing minds” of the company do not need to be present for a corporate defendant to […]
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SFO Issues Guidance for Corporate Cooperation

The UK Serious Fraud Office has published a five-page memo that tells companies the steps they should take if they decide to cooperate with the agency in an investigation. The guidance doesn’t guarantee leniency in return for going “above and beyond what the law requires”, but says that charging decisions will take it into account. […]
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What Happens to Allegations of “Prohibited Conduct” at the European Investment Bank?

The European Investment Bank recently published its Fraud Investigations Activity Report for 2018, reflecting the EIB’s “zero tolerance” to fraud and corruption (and other “prohibited conduct”) that’s defined in the bank’s Anti-Fraud Policy. Inspector general Jan Willem van der Kaaij says in the report’s foreword: “The EIB is no different from other international and national […]
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3M Probes Potential FCPA Violations in China

3M is conducting an internal investigation into possible violations of the Foreign Corrupt Practices Act after discovering suspect travel and record-keeping related to marketing its products in China. The company said in a financial filing that it had retained outside counsel and a forensic accounting firm to help conduct the investigation. It disclosed the investigation […]
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Jailed French Businessman Warns Chinese Companies about US’ “Weaponized” Anti-Corruption Law

Frédéric Pierucci is promoting the Chinese version of his book Le Piège Américain (The American Trap), a warning to Chinese companies to be careful of the United States’ economic tactics. “Chinese companies should build a compliance risk management system soon to protect themselves from the US’ Foreign Corrupt Practices Act, the first law banning bribery of foreign […]
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Are Bribery and Corruption Being Overlooked by UK Authorities?

Syedur Rahman of Rahman Ravelli says that a new report by the Fraud Advisory Panel alleges that UK authorities are overlooking bribery and corruption, but argues that, while some criticism is justified, the real picture is not so clear cut. He acknowledges that “in the UK most corporate crime investigations remain just that – investigations.” […]
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UK Appeals Court Upholds Bribery Conviction of Alstom Network

The Criminal Division of the U.K. Court of Appeal upheld the conviction of Alstom Network UK for bribery related to an infrastructure contract in Tunisia. Read the full post at Compliance Week
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Former Unaoil Exec Pleads Guilty to Corruption in Iraq Bribery Case

Basil Al Jarah, a former executive with Monaco-based oil and gas consultancy Unaoil, has pleaded guilty to charges to bribery and conspiracy in relation to a scheme to obtain contracts while serving as Unaoil’s partner in Iraq. Al Jarah’s co-defendants have maintained their pleas of not guilty and are awaiting trial. Read the full post […]
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Swiss Aircraft Firm Faces Corruption Allegations in India

The Indian Air Force has canceled a deal to buy 75 training planes from Swiss manufacturer Swiss Pilatus, amid allegations the firm paid more than $51 million in kickbacks to a defense consultancy firm that helped it secure the multi-million dollar contract. India’s Central Bureau of Investigation found that Pilatus had transferred funds to a […]
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