MP’S SAY HS2 VULNERABLE TO FRAUD
By Azizur Rahman.
HS2, the £55.7 billion project to build a new high speed rail line, is vulnerable to fraud and other financial errors because of a lack of “basic financial controls”, according to MP’s. Read more
VW EXECUTIVE JAILED OVER EMISSIONS FRAUD
By Azizur Rahman.
A US-based Volkswagen executive has been sentenced to seven years in prison and fined $400,000 for his role in the diesel emissions scandal. Read more
PETROFAC MAY CUT ITS OPERATIONS IN WAKE OF BRIBERY INVESTIGATION
By Azizur Rahman.
Oil services company Petrofac may quit its operations in the North Sea as it struggles to deal with a $1 billion debt and a bribery investigation. Read more
NEGLIGENT ACCOUNTANTS ATTRACT MONEY LAUNDERERS, SAYS TREASURY
By Azizur Rahman.
Negligent or unwitting accountants risk becoming involved in money laundering as they are attractive to criminals, according to the Treasury. Read more
$238M FINE FOR DUTCH FIRM’S SIXTEEN YEARS OF BRIBERY
By Azizur Rahman.
US officials say a Dutch maker of equipment for offshore oil drilling will pay $238 million to settle charges of paying bribes to officials in five oil-producing countries. Read more
TWO MORE CHARGED IN UNAOIL INVESTIGATION
By Azizur Rahman.
Two more men have been charged with conspiring to pay bribes to secure Iraq contracts as a result of investigations into oil contractor Unaoil. Read more
US SET TO BE MORE LENIENT TO COMPANIES THAT ALERT AUTHORITIES TO BRIBERY
By Azizur Rahman.
Companies that voluntarily alert US authorities to bribery committed by their employees will be given greater leniency than ever before. Read more
ONE MILLION EURO FINE FOR LIFE ASSURANCE COMPANY’S MONEY LAUNDERING WEAKNESSES
By Azizur Rahman.
The Central Bank of Ireland has fined a life assurance company €1 million for four breaches of the Money Laundering and Terrorist Financing Act. Read more
BRAZIL AND US INVESTIGATE QATARI PAYMENT’S LINK TO WORLD CUP
By Azizur Rahman.
Authorities in the US and Brazil are investigating whether a $22 million payment by Qatar is linked to the vote for hosting the 2022 World Cup. Read more
SFO USE OF EXPERT WITNESS BRANDED A “DEBACLE’’ BY APPEAL COURT
By Azizur Rahman.
The Serious Fraud Office’s use of an expert witness who lacked expertise has been described as a “debacle’’ by the Appeal Court. Read more
SWISS SAY JP MORGAN BROKE MONEY LAUNDERING RULES
By Azizur Rahman.
Switzerland’s financial markets authority FINMA has found that JP Morgan’s Swiss subsidiary broke anti-money laundering rules. Read more
FORMER IMF HEAD CHARGED WITH FRAUD
By Azizur Rahman.
A Spanish court has ordered the former head of the International Monetary Fund (IMF) to stand trial for fraud. Read more
SFO CHARGES TWO IN UNAOIL INVESTIGATION
By Azizur Rahman.
The Serious Fraud Office (SFO) has charged two businessmen with corruption following a criminal investigation into alleged bribery involving Unaoil. Read more
FRAUD COSTS THE UK £190 BILLION A YEAR
By Azizur Rahman.
Fraud has become the most common criminal offence in the UK, with it costing £190 billion a year. Read more
