WSJ Risk & Compliance Journal – follow for corruption updates

Corruption Currents: From Citi Subpoena to Destroying Wiretap Recordings

WSJ Risk & Compliance Journal – follow for corruption updates

Image courtesy of [hin255] / FreeDigitalPhotos.net 


Rebekah Brooks, a former News CorpNWSA -2.02%. executive, testified that she paid a public official for a story about former Iraqi leader Saddam Hussein planning to attack the U.K. with anthrax. She said she drove her news team “crazy” when deciding whether to pay for stories on an expenses scandal in parliament. News Corp. publishes this page. (NY Mag, Reuters, BBC)

A document in the Turkish corruption scandal showed prosecutors ordering police to destroy wiretapped recordings made as part of the investigation into alleged bribery. A Turkish court freed the suspects in the scandal. Sound engineers in the U.S. were ensnared in the scandal when they were asked to analyze the contents of a leaked tape.  (Today’s Zaman, AFP, WSJ)

Tom Fox profiles Russian compliance professionals working in Texas and captures Ahab the whale. Ann Hollingshead explains the relationship between illicit flows and corruption. Thebriberyact.com sees good news in the SFO asking for a bigger budget and analyzes new sentencing guidelines. The FCPAProfessor chides monitoring programs. Mike Volkov discusses compliance training.


Chinese President Xi Jinping personally took charge of a new government body overseeing China’s cybersecurity. (Washington Post)

Cybersecurity firm Hold Security LLC said it discovered a huge trove of 360 million stolen account credentials on a cyber black market site for stolen account and credit card information. (Slate)

Despite rising anxiety over the possibility of a cyberattack on the power grid, the industry and government are not set up well to counter the threat, said a report produced by leading energy security experts. (NY Times)

Money Laundering:

Citigroup said it received subpoenas from the Federal Deposit Insurance Corp. and the U.S. attorney’s office for Massachusetts over disclosures of alleged fraud at its Mexico unit. (WSJ, Dealbook, WSJ, Reuters)

Charlie Sherm, a bitcoin company executive who was charged with money laundering, tells of his house arrest. The industry surrounding bitcoin had better get used to regulators. Bitcoin backers are unfazed. (Slate, ThinkProgress, Washington PostGHC +0.27%, The Hill)

Why is the U.S. Justice Department concerned with respecting Swiss bank secrecy laws? (New Republic)


Austria and Liechtenstein joined Switzerland in freezing assets of up to 20 Ukrainians, including ousted president Viktor Yanukovych and his son. Ukrainians are getting a look at his documents for the first time, learning that a U.K. shell company owned Mr. Yanukovych’s estate, which he called a “fixer-upper.” (press release, Reuters, AP, GIJN, Tax Justice Network, Global Witness, Washington Post)

The push by U.S. lawmakers for sanctions on Russia gained steam as Obama administration officials called for Moscow to withdraw its troops from Ukraine. Secretary of State John Kerry threatened sanctions, as did Treasury Secretary Jack Lew. One senator explained how to punish Russian President Vladimir Putin; a look inside how one plan would work is here. Canada recalled its ambassador to Moscow. The EU may impose an arms embargo on Russia. (Bloomberg, BuzzFeed, Politico, AFP, Reuters, Washington Post, NBC News, Politico, Daily Beast, Daily Beast, CBC, WSJ)

Iran’s president said his country rejects the manufacture of nuclear weapons out of principle, not because it is prevented so by treaties. The industries minister said foreign banks should come to Tehran. U.N. atomic agency said much work remains on Iran’s nuclear stocks. Can Poland be a bridge to Iran despite EU sanctions? (AP, Trend, Reuters, Haaretz)

Asia’s buying more Iranian crude in the wake of the nuclear deal with Iran. Why is Turkey buying more gas than it needs from Iran? India opened talks between Iran and Oman to discuss a gas pipeline. Tehran is also courting Italian investment to boost its mining sector. (Reuters, Al Monitor, Trend, Xinhua)

Did the premier U.S. pro-Israel organization lose its power by going all-in on new Iran sanctions? The U.S. Treasury Secretary spoke at the group’s annual conference. (Tablet, press release)

Why were sanctions on some educational technologies loosened–and not others? (EFF)


An op-ed by a Global Witness director urged the EU to keep conflict minerals out of Europe. (EurActiv)

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