Panama Papers Show Global Corruption Got Worse in 2016: Watchdog

Revelations of tax-evasion and money-laundering networks on a global scale in the so-called Panama Papers helped make the world appear more corrupt last year, according to graft watchdog Transparency International. The Berlin-based organization said there were more falling scores than rising ones on its 2016 Corruption Perceptions Index, published on Wednesday. A lower score means…

FRC responds to Green Paper on Corporate Governance Reforms

The interests of stakeholders, executive remuneration, the accountability of large private companies and effective enforcement are key themes in the FRC’s response to the Government’s Green paper on Corporate Governance reforms. The UK corporate governance framework is respected worldwide and any changes need to build on its current strengths including the unitary board and the ‘comply or…

Anti-Bribery Enforcement Actions Increase Across The Globe: Prosecutors Crack Down On Corruption

A new report by TRACE International finds that enforcement actions against bribing government officials are rising globally. In its 2016 Global Enforcement Report, the anti-bribery organization observes a doubling in US enforcements last year and non-US actions doubled since 2015. “2016 was a record year for global anti-bribery enforcement,” said Alexandra Wrage, president of TRACE…

Americas: Sometimes bad news is good news

Regional analysis by Jessica Ebrard, Transparency International It is not always bad to have headlines about corruption. From the Panama Papers in April to the record US$3.5 billion Odebrecht settlement in Brazil in December, 2016 was a good year in the fight against corruption in the Americas. The Panama Papers revealed that a Panamanian law…

State Street to 3,500 boards: embrace gender diversity

To commemorate International Women’s Day on March 8, and celebrate the one-year anniversary of its Gender Diversity Index ETF, State Street Global Advisors is calling upon more than 3,500 companies it invests in “to take intentional steps to increase the number of women on their corporate boards.” Companies that SSGA, the asset management business of…

Corruption and inequality: how populists mislead people

Analysis by Finn Heinrich, Transparency International With the launch of Transparency International’s Corruption Perceptions Index 2016 just five days after Donald Trump’s inauguration as US President, it’s timely to look at the links between populism, socio-economic malaise and the anti-corruption agenda. Indeed, Trump and many other populist leaders regularly make a connection between a “corrupt…

Transaction laundering on mobile – new channel, new fraud

Mobile transactions are projected to reach $7,45 trillion by 2020. With the rapid growth in mobile payments comes the migration of transaction laundering to mobile as well. Transaction laundering on mobile Transaction Laundering is an action whereby a merchant processes a transaction on behalf of another merchant.  This technique is used to bypass underwriting requirements…

Would Socrates Make a Good Compliance Officer?

The following excerpt is from a PBS documentary entitled “The Greeks: Crucible of Civilization”:  By Robert Jagielski “After his service in the war, Socrates devoted himself to his favourite pastime: the pursuit of truth. His reputation as a philosopher, literally meaning ‘a lover of wisdom’, soon spread all over Athens and beyond. When told that…