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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.
 

Below are some recent stories from the Anti-Corruption Digest


 

Apple fined $1.2 billion by French competition authorities

By Paul Mackessey on Mar 23, 2020 01:08 pm

French antitrust authorities ordered Apple on Monday to pay a 1.1 billion euro ($1.23 billion) fine for anti-competitive behavior.
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Bagudu, Ekweremadu top list of Nigerians linked to 800 Dubai properties worth N164bn

By Paul Mackessey on Mar 23, 2020 01:07 pm

This was revealed by a new report on illicit financial flows which put the value of the properties at N164 billion.
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As virus spreads, Africa gets supplies from China’s Jack Ma

By Paul Mackessey on Mar 23, 2020 01:06 pm

ADDIS ABABA, Ethiopia — With the coronavirus increasing its spread across Africa, the continent received a much-needed care package from Chinese billionaire Jack Ma.
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A corruption amnesty would help South Africa escape the…

By Paul Mackessey on Mar 23, 2020 12:59 pm

Imagine a country with the following characteristics: Pervasive corruption, combined with the baleful influence of powerful leaders who retain power despite being implicated in malfeasance, has ensnared the citizenry in a web of shady transactions. Despite the authorities’ professed commitment to clean governance, for reasons of narrow yet rational self interest, many occupants of the corridors of power perceive that they need to obstruct all efforts that might expose their involvement in corrupt dealings.
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‘Brazil is Fine,’ Says Bolsonaro After Meeting Entrepreneurs in São Paulo

By Paul Mackessey on Mar 23, 2020 12:57 pm

RIO DE JANEIRO, BRAZIL - President Jair Bolsonaro said he heard from entrepreneurs on Thursday, March 5th, that "Brazil is doing well". Once again, he declined to answer questions from journalists when arriving at the Alvorada Palace.
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Your Corporate Governance Obligations Following the COVID-19 Outbreak

By Paul Mackessey on Mar 23, 2020 12:17 pm

The World Health Organisation (WHO) declared a Public Health Emergency of International Concern on 30 January 2020 and the WHO Director-General stated on 11 March 2020 that they have “made the assessment that COVID-19 can be characterized as a pandemic”.
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Coronavirus outbreak may be over sooner than you think 

By Paul Mackessey on Mar 23, 2020 12:15 pm

Michael Levitt, a Nobel laureate and Stanford biophysicist, began analyzing the number of COVID-19 cases worldwide in January and correctly calculated that China would get through the worst of its coronavirus outbreak long before many health experts had predicted.
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Why public sector must adopt corporate governance 

By Paul Mackessey on Mar 23, 2020 12:13 pm

President, Institute of Chartered Secretaries and Administrators of Nigeria, ICSAN, Mr. Bode Ayeku, in this interview, explains how the private and public sectors can achieve economic growth with corporate governance. Only the private sector implements corporate governance in the country.
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Coronavirus: Who gets saved if US hospitals run out of ventilators?

By Paul Mackessey on Mar 23, 2020 12:12 pm

It’s a scenario few health-care leaders want to contemplate much less discuss: What if the ranks of desperately ill patients overwhelm the nation’s ability to care for them?
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Will America pass the ethical challenge posed by coronavirus? 

By Paul Mackessey on Mar 23, 2020 12:07 pm

SALT LAKE CITY — The new coronavirus has exposed deficiencies in America’s health care system and emergency preparedness. But it’s also exposing something else.
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Senator asks for ethics probe into his own stock sales

By Paul Mackessey on Mar 23, 2020 12:01 pm

WASHINGTON (AP) — Senate Intelligence Committee Chairman Richard Burr, R-N.C., is asking for an ethics probe in response to criticism that he sold off as much as $1.7 million in stocks just before the market dropped in February amid coronavirus fears.
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The Role of Accountancy Firms in International Financial Scandals

By Paul Mackessey on Mar 23, 2020 11:46 am

The revelatory Luanda Leaks by the International Consortium of Investigative Journalists (ICIJ) and 35 partner organizations exposed the critical role financial service providers – frequently Western – play in facilitating massive international financial scandals. Indeed, the ICIJ reported that teams of consultants, lawyers and accountants helped Isabel dos Santos, Africa’s richest woman and daughter of Angola’s former president, and her husband acquire “an empire of more than 400 companies and subsidiaries in 41 countries,” used to move, conceal and ultimately spend her ill-gotten funds.
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Swedbank issued SEK 4 billion fine for failing to combat money laundering

By Paul Mackessey on Mar 23, 2020 11:44 am

Swedbank AB has had serious deficiencies in its management of the risk of money laundering in its Baltic operations and will be issued a fine of 4 billion Swedish kronor, or approximately €360 million.
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Follow the money: How to combat money laundering

By Paul Mackessey on Mar 23, 2020 11:43 am

Anti-money-laundering (AML) measures are a key component in the battle against financial crime, ensuring that dirty money is kept out of the banking system and doesn’t filter into commercial transactions. While much of the media’s focus is on banks and other financial institutions, professional service firms are also on the front line in the battle against money laundering.
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POGOs “highly vulnerable” to money laundering 

By Paul Mackessey on Mar 23, 2020 11:38 am

The Phillippine Anti-Money Laundering Council (AMLC) has issued a report claiming that Philippine Offshore Gaming Operators (POGOs) and their service providers are “highly vulnerable” to money laundering.
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UK Gambling Commission Cracks on Money Laundering Failures

By Paul Mackessey on Mar 23, 2020 11:36 am

On 12 March 2020, the UK Gambling Commission announced that it will fine online gambling business Betway Limited (“Betway”) £11.6 million for failures in respect of its anti-money laundering controls and handling of seven of its “VIP” high-spending customers.
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MAS imposes S$400,000 penalty on TMF Trustees Singapore 

By Paul Mackessey on Mar 23, 2020 11:31 am

SINGAPORE: The Monetary Authority of Singapore (MAS) has imposed a composition penalty of S$400,000 on TMF Trustees Singapore Limited (TTSL) for failing to comply with MAS' Anti-Money Laundering and Countering the Financing of Terrorism requirements.
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New law to help tackle illegal trade, money laundering in Kenya 

By Paul Mackessey on Mar 23, 2020 11:28 am

Kenya is looking to curb illegal transactions while promoting transparency in the shipping industry with a new bill, which is being drafted by more than 19 government agencies and is expected to be tabled before parliament before year-end.
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Dubai: An Oasis for Nigeria’s Corrupt Political Elites 

By Paul Mackessey on Mar 23, 2020 11:25 am

For politically exposed persons (PEPs) with ill-gotten wealth, Dubai in the United Arab Emirates (UAE) is an alluring destination for investing their gains. Although certainly not the only place to stash money, Dubai—dubbed the commercial capital of the Middle East—exercises minimal oversight and has few legal or logistical obstacles to transferring large amounts of cash or purchasing property. PEPs, defined as individuals who are or have been entrusted with a prominent public function, are at higher risk of involvement in unlawful activity due to their
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EU states ‘dragging their feet’ over financial transparency

By Paul Mackessey on Mar 23, 2020 11:24 am

Most EU member states have failed to meet a legal deadline to introduce public registers of the real owners of companies, a transparency measure seen as key to fighting money laundering, according to a review by anti-corruption campaigners.
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The impunity of money laundering 

By Paul Mackessey on Mar 23, 2020 11:20 am

It was painfully frustrating to watch the Senate Blue Ribbon Committee hearing last week where incensed legislators skewered and charred the Bureau of Customs (BoC), Department of Finance, Bangko Sentral, Bureau of Immigration, Bureau of Internal Revenue, the Philippine National Police and the overseer Anti-Money Laundering Council (AMLC) for their delayed reaction on the alleged $447 million (P22.68 billion) that entered the Philippines from September 2019 to February 2020, suspected to be from online gambling operations (Philippine Offshore Gaming Operators or POGOs). AMLC chief Mel Racela said that the multimillion-dollar inflows that were flagged by Committee Chair Senator Richard Gordon as “suspicious” were “not unlawful” just yet.
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Pandemics & Propaganda: How Chinese State Media Shapes Conversations on The Coronavirus

By Paul Mackessey on Mar 23, 2020 11:11 am

The perception of China’s handling of the coronavirus pandemic has been a significant challenge for the Chinese Communist Party (CCP) over the past two months. The CCP has been attempting to control the narrative and deflect blame since the start of the outbreak, both domestically and abroad. It has done this by drawing on its substantial state- and CCP-owned media apparatus.
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Emergency plans help with COVID19 financial recovery 

By Paul Mackessey on Mar 23, 2020 11:09 am

OKLAHOMA CITY (KOKH) — COVID19 is a health and financial tragedy for many Americans. Business closures and recommendations to stay home mean some people aren’t getting a paycheck, and could be looking for online work. That could put you in danger of becoming the victim of a scam.
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New government cyber unit launched to tackle coronavirus fake news 

By Paul Mackessey on Mar 23, 2020 11:08 am

The government has set up a new cyber team to crack down on the spreading of fake news linked to the coronavirus outbreak on social media platforms.
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UK intelligence agency issues public warning about criminals exploiting outbreak

By Paul Mackessey on Mar 23, 2020 11:07 am

One of the UK's intelligence agencies has made a rare announcement to warn the public about criminals who are using the coronavirus outbreak to launch online attacks.
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Cyberattack Hits HHS During Coronavirus Response 

By Paul Mackessey on Mar 23, 2020 10:39 am

The U.S. Health and Human Services Department suffered a cyber-attack on its computer system, part of what people familiar with the incident called a campaign of disruption and disinformation that was aimed at undermining the response to the coronavirus pandemic and may have been the work of a foreign actor.
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Over a billion Android phone worldwide unprotected from cyber threats

By Paul Mackessey on Mar 23, 2020 10:38 am

These unprotected and unsupported Android phones number more than one billion around the world, indicating that the number of Android device users across the world who are vulnerable to malicious cyber operations is extremely high.
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COVID-19: how to stay cyber-secure while working from home

By Paul Mackessey on Mar 23, 2020 10:36 am

Think very carefully before clicking on a tempting link purporting to be from the World Health Organization (WHO), or similar, with positive information about the cure for COVID-19. Chances are it’ll be a hacker preying on your understandable anxiety about the coronavirus pandemic.
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A profile of cybercrime in Latin America 

By Paul Mackessey on Mar 23, 2020 10:25 am

When we think of cyberattack capabilities on an international scale, many of us - especially in the west - are probably inclined to think about state-sponsored activity originating out of places like China, Russia, and Iran. While it's certainly true that these countries are ramping up their cyberwarfare proficiency and do pose significant threats to organisations around the globe, it's always worth considering that attacks aren't merely isolated within the borders of these high-profile cyber-advanced nations, and state-sponsored groups aren't always to blame.
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Cyber criminals capitalise on Covid-19 – Channel Asia

By Paul Mackessey on Mar 23, 2020 10:14 am

Cyber criminals are taking advantage of rising coronavirus concerns across the world, adapting and updating attack methods as real-time news unfolds.
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