Author: Syedur Rahman 25 May 2021
With multilateral development banks (MDBs) maintaining a high level of enforcement activity during the COVID-19 pandemic, Rahman Ravelli assess their approach.
In an article they wrote, which was published by Law360, Rahman Ravelli outline the response of MDBs to ensuring the integrity of pandemic-related projects they are funding.
The article explains the sanctions powers available to MDBs and how those who come under investigation by an MDB should respond. It also details how an MDB investigation can lead to national authorities conducting their own probe.
The piece examines precisely how MDBs have responded to the challenge of continuing to investigate potential wrongdoing during the pandemic, when restrictions have limited the ability of their staff to travel to carry out their enquiries.
It concludes by explaining how MDB investigations have led to action being brought against companies during the pandemic. It also emphasises the potential damage to a business that is sanctioned as the result of such a probe.
Rahman Ravelli's article featured in Law360. (Subscription required)
Syedur Rahman is known for his in-depth experience of serious fraud, white-collar crime and serious crime cases, as well as his expertise in worldwide asset tracing and recovery, international arbitration, civil recovery, cryptocurrency and high-stakes commercial disputes.