A series of public graft scandals from Uzbekistan to Argentina are alike in having landed dozens of domestic officials, business executives and other suspects in jail in countries already perceived as vulnerable to grand corruption.
Brazilian state prosecutors are seeking the arrest of former President Luiz Inacio Lula da Silva for allegedly violating money laundering laws, Russia's financial intelligence unit said it has discovered 42 domestic organizations that finance terrorism, and more, in this week's roundup.
The large number of transactions involving World Cup real estate deals, soccer players and tourism may be vulnerable to abuse by money launderers, say compliance consultants.
The opaque financial structures of the sports sector, including soccer and basketball, can be abused by criminals seeking to disguise dirty money and climb social ladders, an intergovernmental organization said Wednesday.
International efforts to combat corruption associated with the political elite are only now beginning to bear fruit, buoyed by maturing anti-money laundering programs, say compliance consultants.
With an increased focus on fraud and corruption investigations, financial institutions can't afford to silo their separate compliance efforts, according to Jane Wexton, president of Wexton Advisors, a New York-based consultancy.
The United States is likely to ramp up penalties against financial institutions and other companies that have bribed Chinese officials to gain entry into the Asian market, including business involving the Olympics, say consultants.