Corruption Newsletter - February 2015

Is the Portal Part of Your Bribery Act Strategy?

Compliance The UK recently published a comprehensive outline of its anti-corruption activities in the UK Anti-Corruption Plan and references the UK Government’s support of the Business Anti-Corruption Portal. The Bribery Act 2010 – Quick start guide references the Portal under ‘How do I assess risk?’. This is not the first time the UK Government has mentioned its support of the Portal.

Portal support is not limited to the UK—it is also supported by the European Union, Germany, Sweden, Denmark, Austria and Norway. The Portal provides free, publically supported resources to help mitigate the risks of corruption around the globe. Make the Portal part of your anti-corruption strategy today.

Updated Business Anti-Corruption Portal Profiles:

World Corruption News

China broadens graft probe into financial sector
Bank of Beijing board of director Lu Haijun is the latest banker to fall under China’s anti-corruption campaign, which has turned to the financial sector.

Petrobras investment grade approaches junk status
Brazilian-controlled Petrobras approaches junk status amid the fallout of a massive corruption investigation into the company's dealings.

Head of China Minsheng Bank resigns
China Minsheng Banking Corp President, Mao Xiaofeng, resigns amid reports of a corruption investigation.

Former IT contractors for Detroit Public Library jailed
Two owners of an IT services company have been jailed for bribing a Detroit Public Library official in exchange for contracts.

BNY Mellon may face bribery charges
Bank of New York Mellon Corp has disclosed that US authorities are considering FCPA charges over an investigation into the bank’s dealings with sovereign wealth funds.

UK plans more enforcement for compliance failures
The Financial Conduct Authority (FCA) has announced plans to target financial crimes, including failures in bribery and sanctions controls.

Study: FCPA penalties 4x higher against foreign companies
A statistical analysis on the Foreign Corrupt Practices Act (FCPA) reveals foreign companies are paying penalties nearly 4 times higher than US companies.

Tanzanian energy minister quits over corruption scandal
Tanzania's Energy and Minerals Minister, Sospeter Muhongo, is the third to lose job over scandal involving the transfer of at least $122 million.

Sony Pictures investigation finds evidence of corruption
A compliance officer at Sony recommended a probe into India payments that uncovered potential evidence of corruption between a joint venture with Discovery Communications and government officials.

Myanmar, Haiti & Mali governments rank as least transparent
New study reveals most governments conceal data despite G20 pledges, and the governments of Myanmar, Haiti and Mali are ranked as the least open and transparent.

UK ends investigation into sale of Autonomy to HP
The Serious Fraud Office (SFO) has closed its fraud investigation into the sale of Autonomy to Hewlett-Packard in 2011 because of insufficient evidence to secure a conviction.

Norwegian-controlled Telenor in Uzbekistan bribery scandal
Whistleblower document claims Telenor, minority owners of Uzbekistan’s largest mobile operator, should have known about millions in bribes to a company connected to Uzbek first daughter Karimov.

Associates of Uzbek first daughter convicted of corruption
As many as 60 people with ties to Gulnara Karimova, daughter of the Uzbek President, have been convicted of corruption crimes related to industrial facilities with ties to her.

Brazil arrests another former Petrobras executive for corruption
Brazilian police have arrested a former executive at Petrobras and accuse him of continued involvement in corruption and money laundering.

Chief compliance officer avoids prison in $554m fraud scheme
A former chief compliance officer at WG Trading Co. avoided prison after helping prosecutors prosecute the firm’s partners for a $554m hedge fund fraud scheme.

New Jersey Gov. Chris Christie in Dallas Cowboys ethics scandal
Christie possibly violated ethics rules when Dallas Cowboys owner Jones flew him to a game in his jet. The Port Authority jointly overseen by Christie awarded a contract to a firm co-owned by Jones.

An ex-VP of Rite Aid & Businessman admit fraud & kickbacks
Both defendants agreed to plead guilty and forfeit millions to the US government. The 9-year scheme is punishable by up to 5 years in prison.

China’s anti-corruption campaign abroad nets 680 people
China says that its campaign to hunt down corrupt officials abroad has captured 680 people—4.5 times the previous year.

Former Virginia governor sentenced to 2 years imprisonment
Robert McDonnell, former Virginia governor, has been sentenced to 2 years imprisonment and 2 years probation for accepting a bribe in exchange for promoting a dietary supplement.

Ex top execs of Norwegian Yara International face bribery charges
Former executives of the chemical giant Yara have been charged in Norway in connection with the alleged payment $5m in bribes in Libya. The Norwegian, French and US defendants have pleaded not guilty.