To understand why Brazilian officials and state-run companies are embroiled in multiple large-scale criminal investigations, look first to the seemingly modest reforms in recent years of the country's anti-corruption controls, according to Andrew Spalding, an assistant law professor at the University of Richmond. The investigation of state-run oil giant Petrobras and the ongoing attempt to impeach Brazilian President Dilma Rousseff, among other cases, share roots in the decision to outlaw the obstruction of investigations and in public concerns that government officials would mismanage the country's 2014 World Cup and the Summer Olympics this August. Spalding, is in the process of...
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 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.
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.