Despite vigorous American enforcement of the Foreign Corrupt Practices Act, or FCPA, which has resulted in “nearly 80 FCPA cases in the past five years alone, involving alleged misconduct in more than 60 countries,” corruption remains “endemic” in some countries where “business opportunities are attractive” and bribery may be required to capitalize on them. So… Read More >>
Credit Suisse in Hong Kong Settles FCPA Charges
The Hong Kong-based subsidiary of the Credit Suisse Group AG (CSAG), a Swiss-based issuer of publicly traded securities in the United States, has reached an agreement with the U.S. Department of Justice to pay a $47 million criminal penalty for its role in a scheme to “corruptly win banking business” in the Asia-Pacific region by… Read More >>
Are Most G20 Nations Too Weak on Financial Crime?
Most major nations have not made significant advances toward their stated goals of creating strong frameworks to stop financial crimes, particularly financial crimes committed by companies with anonymous or otherwise hidden ownership. That is the contention of a new study, entitled “G20 Leaders or Laggards? Reviewing G20 Promises on Ending Anonymous Companies,” issued by the… Read More >>
