Anti Corruption Digest


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

Ex-UAW President Charged With Corruption in Federal Probe

By Anti-Corruption Digest on Aug 28, 2020 12:13 pm

DETROIT (AP) — A former president of the United Auto Workers union was charged with corruption Thursday, accused of conspiring with his successor and others to embezzle money for golf, vacation villas and fine dining.
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Covid-19 corruption — Ending the most hated type of evil 

By Anti-Corruption Digest on Aug 28, 2020 12:08 pm

JUST as the spread of the coronavirus is proving difficult to stop in countries around the world, so corruption has proven equally difficult to end worldwide over the years.
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Council of Europe Urges Russia to Up Anti-Corruption Efforts 

By Anti-Corruption Digest on Aug 28, 2020 12:05 pm

The Council of Europe’s anti-corruption council on Tuesday urged Russia to boost efforts against graft among members of its parliament, judges and prosecutors.
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Ford remains under federal investigation regarding union corruption

By Anti-Corruption Digest on Aug 28, 2020 11:59 am

DETROIT — Ford Motor remains under federal investigation as part of a multi-year corruption probe into the United Auto Workers union, according to the lead prosecutor on the investigation.
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SEC’s New Whistleblower Rules: Weakening Dodd-Frank?

By Anti-Corruption Digest on Aug 28, 2020 11:54 am

After two years of debates, the U.S. Securities and Exchange Commission will finally meet and vote on new rules governing its highly successful whistleblower reward program.  The public meeting and formal vote on the proposed whistleblower rules are set for September 2, 2020.
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Poor Corporate Governance Creates Risks at Banks Like Baoshang

By Anti-Corruption Digest on Aug 28, 2020 11:33 am

Zhou Xuedong is the leader of the Chinese government’s takeover team for Baoshang Bank, and a former director of the general office of the People’s Bank of China.
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Deloitte Introduces Trustworthy AI Framework to Guide Organizations in Ethical Application of Technology in the Age of With 

By Anti-Corruption Digest on Aug 28, 2020 11:24 am

Deloitte’s recent AI in the Enterprise, 3rd Edition studyof enterprise AI adopters found that 95% of respondents have concerns about ethical risks of the technology. Further, more than 56% of study respondents agree that their organization is slowing adoption of AI technologies because of emerging risks. To help companies proactively address AI ethics and integrity, theDeloitte AI Instituteannounced its Trustworthy AI™ framework. The framework aims to guide organizations on how to apply AI responsibly and ethically within their businesses.
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Time to reset our ethical compass and appoint a new deputy president 

By Anti-Corruption Digest on Aug 28, 2020 11:20 am

In 2017, David Mabuza, then premier of Mpumalanga, was appointed deputy president of South Africa. Mabuza was a dark horse who had the support of camps within the ANC that were loyal to former president Jacob Zuma. However, in the ensuing years, Mabuza appears to have committed himself to his administrative duties instead of solidifying his leadership role.
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African Development Bank reelects Nigeria’s Adesina after controversy

By Anti-Corruption Digest on Aug 28, 2020 11:18 am

African Development Bank (AfDB) head Akinwumi Adesina was reelected on Thursday, August 27, for a second 5-year term, after a prolonged storm about governance that was resolved by an independent inquiry.
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Ethics classes for teachers are one way districts are trying to prevent abuse 

By Anti-Corruption Digest on Aug 28, 2020 11:17 am

ECTOR COUNTY, Texas — We are learning more details on how school districts here in Texas train teachers when it comes to child abuse and teacher-student relations.
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Banks Biggest Money Laundering Threat 

By Anti-Corruption Digest on Aug 28, 2020 08:16 am

Banks in Mexico are the most attractive to money launderers in the country, a new report has claimed. As originally reported by Mexican daily El Economista, the largest banks in Mexico—the G7—are at the most risk of being used for money laundering.
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PHL banking sector ups defense against money laundering 

By Anti-Corruption Digest on Aug 28, 2020 08:12 am

THE Philippine banking industry is committed to investing in technology for financial crime compliance in the year ahead as most of the local financial institutions believe that artificial intelligence (AI) can help counter money laundering.
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Trio to appear after police officers’ accounts linked to alleged R692K UIF fraud, money laundering

By Anti-Corruption Digest on Aug 28, 2020 08:07 am

Durban – Three suspects – including two SAPS sergeants – are expected to appear in the Durban Specialised Commercial Crimes Court on Tuesday for alleged fraud and money laundering worth over R692 000.
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Kuwait suspends 7 judges over possible link to money laundering network

By Anti-Corruption Digest on Aug 28, 2020 08:05 am

The Supreme Judicial Council of Kuwait has suspended seven judges and referred them for investigation over their potential association to a money laundering network run by the Iranian citizen, Fuad Salehi.
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Czech Republic strengthens anti-money laundering measures, but shortcomings remain

By Anti-Corruption Digest on Aug 28, 2020 08:03 am

Since the adoption of its mutual evaluation report in December 2018 the Czech Republic is reporting to MONEYVAL on an expedited timetable (MONEYVAL’s enhanced follow-up procedure) due to the high number of deficiencies identified in several key areas. The follow-up carried out by MONEYVAL has examined a range of legislative, regulatory and institutional measures implemented by the Czech Republic to address these deficiencies.
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‘Need strategic investments in redesigning anti-money laundering compliance in banking’ 

By Anti-Corruption Digest on Aug 28, 2020 08:01 am

Increased regulatory expectations and enforcing Anti-Money Laundering (AML) compliance pose key operational challenges to banks in South Asia, a new Deloitte survey on AML preparedness in South Asia has revealed.
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Banks need to overhaul anti-money laundering mechanism

By Anti-Corruption Digest on Aug 28, 2020 07:59 am

Banks and financial institutions across South Asia need to redesign their processes to deal with cases of money laundering even as they are facing increased challenges in meeting heightened regulatory expectations, consultancy firm Deloitte said in its latest South Asia Anti-Money Laundering Preparedness Survey.
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Bitcoin exchanges might soon share money laundering data in the UK

By Anti-Corruption Digest on Aug 28, 2020 07:56 am

In the latest proposal concerning Bitcoin and crypto businesses, the UK’s top financial regulator, the Financial Conduct Authority, said all firms would be compelled to share reports on potential money laundering.
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FCA eyes extending money laundering obligations for digital currency firms

By Anti-Corruption Digest on Aug 28, 2020 07:54 am

New proposals from the U.K.’s financial regulator could see more firms required to report on managing the risks of financial crimes, in a move likely to impact digital currency firms based in the country.
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Hacking Cyber Space

By Anti-Corruption Digest on Aug 28, 2020 07:40 am

Today satellites provide basic communications—from personal phone calls to televised events. So it’s not too surprising that hackers are turning their attention toward this “Final Frontier.” Talks and events at Black Hat USA 2020 and DEF CON 28 held earlier this month highlight the urgent need to secure basic satellite systems.
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TikTok CEO quits following backlash from US president 

By Anti-Corruption Digest on Aug 28, 2020 07:36 am

Former Disney executive Kevin Mayer was hired as a CEO of TikTok back in mid-May, and he is already stepping down. In a memo to employees, quoted by CNN Business, he details the reasoning behind the move less than four months after being appointed into the position.
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Cyber Attacks on Schools: How to Protect Schools from Ransomware

By Anti-Corruption Digest on Aug 28, 2020 07:34 am