The Yates Memo: Justice Department Prioritizes Individual Accountability in Corporate Cases
The U.S. Department of Justice (DOJ) is putting a new priority on accountability for individuals within companies when those companies break the law — and has enacted a new set of protocols to help make that happen in more of its cases ...
Djibouti Corruption Case Dismissed by UK Courts
A U.K. court recently dismissed a claim made by the Government of Djibouti against a powerful businessman who had fallen out of favor with the government. The politically-connected businessman, Abdourahman Mohamed Mahmoud Boreh, is credited with playing an integral role in the development of the nation’s ports, oil storage, and duty free facilities. The government is petitioning for control of these facilities that are currently owned by Dubai-based DP World and other subsidiaries ...
Staggering Amounts of Dirty Money in London
In a recent article in the New Statesman, author James Nickerson focuses on the issue of money laundering in London and the United Kingdom. With an estimated £48 billion laundered through the UK, accounting for 2 percent of GDP, London is now the world’s leading place for corruption-based money laundering, he writes ...
South Sudan’s Central Bank Demands Accountability for U.S. Dollar Auction
Soon after South Sudan devalued its currency in December 2015, the central bank authorized the auction of U.S dollars to commercial banks to offset the cost of devaluation which had caused the South Sudanese pound to lose its value by 84 percent. Millions of dollars were auctioned to the commercial banks as a result of this move ...
Corruption Continues in Sudan’s Oil Sector
A new report from Sudan Democracy First Group shows how systemic corruption in Sudan’s oil sector continues even after the oil boom has ended. This report also shows how pervasive corruption undermines openness and transparency and allows a small circle of political elites to amass great personal wealth through undue influence and patronage ...
FinCEN Moves to Curb Real Estate-based Money Laundering in Miami, Manhattan
The U.S. Financial Crimes Enforcement Network (FinCEN) announced today that it has issued a Geographic Targeting Order that requires U.S. title insurance companies to identify beneficial owners of companies that purchase high end real estate in Miami-Dade County and Manhattan in “all-cash” transactions ...
Tanzanian President Pledges Fight Against Corruption
President John Magufuli of Tanzania only in office for a month is already off to a good start in his pledged fight against corruption. Magufuli’s surprise visits to government employees at their offices, slashing budgets for lavish celebrations and re-direction of the funds for needed hospital beds, and creating strict foreign travel restrictions to head off unnecessary abuse are some of his strategy that the Guardian identified ...
Concealed Ownership Contributes to Lawlessness at Sea
The shipping industry is crucial for global commerce, but much of the fishing and cargo shipping industries are extremely opaque and often characterized by lawlessness. “Some ships are stolen, renamed, retitled and resold. Some shippers flaunt regulations regarding pollution, dumping oil and toxins and garbage unseen,” Andrea Wrage, the president of TRACE, an anti-bribery organization, wrote in a Forbes op-ed recently ...
Study Calls for More Effective Use of Natural Resource Sanctions by UN
A new study by the NGO Security Council Report calls for “more effective use of natural resource sanctions” by the United Nations ...
South Sudan Justice Minister Acknowledges Existence of Corrupt Government Officials
South Sudan’s Minister of Justice Paulino Wanawilla recently acknowledged the existence of corrupt officials in the Ministry of Justice, as well as throughout the government. This is a significant statement highlighting the pervasive nature of corruption in South Sudan. In a recent article, the Sudan Tribune quotes the Minister as saying, ““I know in South Sudan corruption is not in one place, but it’s very sad when everybody is stealing.” ...
