Recently, Brazil’s state energy company, Petrobras, was investigated by the Department of Justice (DOJ) and the Securities Exchange Commision (SEC) for FCPA violations related to political bribes in Brazil. According to the SEC’s Steven Peikin, Petrobras fraudulently facilitated money through… Read more >
An Amsterdam-based bank, ING Group NV, became involved in a U.S. Securities and Exchange Commission (SEC) investigation for having shortcomings in the execution of preventative measures against financial crimes. This includes requirements for client on-boarding, anti-money laundering (AML) regulations, and… Read more >
The SEC charged big pharma company, Sanofi, for violating the FCPA’s books and records and internal accounting controls provisions, and allegedly paying bribes across the Middle East and in Kazakhstan to gain more business opportunities. Sanofi had their sales people… Read more >
Denmark’s largest bank, Danske Bank, is under fire once again after being accused of helping launder $8.3 billion through it’s Estonian branch. In 2017, Denmark’s daily newspaper, Berlingske, reported that Danske was responsible for laundering $3.9 billion into Denmark from… Read more >
The Australian Transaction Reports and Analysis Centre (AUSTRAC) has given the Commonwealth Bank of Australia (CBA) a record fine of $700 million Australian dollars ($534 million USD) for disregarding laws preventing money laundering and terrorism financing. AUSTRAC started legal action… Read more >
Canara Bank in India has been fined $1.2 million by the UK Financial Conduct Authority (FCA) for multiple anti-money laundering (AML) failures and has been barred from accepting new deposits for up to five months. The FCA notified Canara Bank… Read more >
In the fifth largest FCPA case ever, and the first time the DOJ has coordinated with the French authorities in an overseas corruption case, Société Générale S.A. (SocGen) has agreed to settle bribery charges. SocGen has been accused of paying… Read more >
In the 2017 South African Reserve Bank (SARB) annual report that was released last month, it was detailed that VBS Mutual Bank was fined R2.5-million by the SARB for failing to comply with regulations aimed at preventing money laundering and… Read more >
Between 2007 and 2016, the Panasonic Avionics Corporation (Panasonic) made illicit payments to consultants at its US in-flight-entertainment unit in the Middle East and Asia including payments to a government official at a state-owned airline in an effort to solicit… Read more >
AML, FCPA, Fines, Japan, United States
In 2014, Yahoo! Inc. was involved in one of the largest known data breaches of that time. According to the statement made by the Securities Exchange Commission (SEC), the data breach resulted in the theft, unauthorized access, and acquisition of… Read more >