TRUMP: BUSINESS CORRUPTION AND A “HORRIBLE LAW”
Donald Trump has claimed the Foreign Corrupt Practices Act (FCPA) is “a horrible law” and indicated he wanted it rolled back.
He is wrong.
Read MoreThe French Bank, American Victims of Terrorism, Cash and Compensation
U.S. citizens who have been victims of foreign state-organized terrorism will receive substantial compensation now with the funds coming from a surprising source, BNP Paribas, one of the largest banks in France and Europe. It is the bank that paid a record $9 billion in fines in 2014 for violating U.S. foreign sanctions laws.
Read MoreNO IMPUNITY - US Courageous Prosecutor Wins Verdict Against New York Power-Broker Sheldon Silver
The need for honest politicians serving the public's interests is at the core of the American system of democracy. Nevertheless, in the US, as in every country, politics and corruption too often go hand-in-hand. Now a New York jury has brought in a historic set of verdicts. Will it change the New York game?
Read MoreRestoring Banking Integrity - 10 Reform Proposals
Public trust in the biggest banks is low. I have 10 specific recommendations to cure the banks of their evil ways. Bankers will not like most of my proposals, but the time has come for radical reform.
Read MoreThe FIFA Scandal - The Details on "The Enterprise"
The more you dig into the details of the prosecutions that have been announced into world football (what is called soccer in the U.S.), so the more one understands the staggering scale of the conspiracies. “Let me be clear: this indictment is not the final chapter in our investigation,” stated Acting U.S. Attorney Kelly T. Currie of the Eastern District of New York. Indeed, there are likely to be many more cases, not just in the U.S. and Switzerland, but in other countries as well.
Read MoreThe Mounting Global Challenges of Rampant Corruption
Multiple major corruption crises are splashing across the front pages of newspapers across the globe. Taken together, these crises are contributing to global insecurity and to financial and economic instability, while they are challenging freedom and democracy in many countries.
The individual cases of grand corruption involving political leaders are reported case by case. The dangerous mega-impact, however, is only really evident by looking at the crises in combination.
Read MoreUrgently Needed: New Efforts to Protect Anti-Corruption Civil Society Activists
"With impunity there cannot be peace," says Carlos Hernández, Director in Honduras of the Asociación para una Sociedad Mas Justa (the Honduran national chapter of Transparency International). Carlos calmly talks about the endless waves of murders in his country, the rising numbers of contract killers and the intense efforts that he and his colleagues are making to find constructive ways to work with the police, the judiciary and, more broadly, with the general public to curb corruption and find a path to justice and stability.
Read MoreG20 Needs to Boost Banking Supervison - Five Major Banks Pay Fines for Currency Manipulation
On the eve of the Group of 20 Summit in Brisbane, Australia, a group of the world’s biggest banks have agreed to pay $4.2 billion in fines to U.K., U.S. and Swiss authorities to settle charges that they fixed international currency markets over many years.
Read More"No Impunity" Needs to be the Rule for Corrupt Politicians and Corporations
Finance Ministers of the Group of 20 leading global economies agreed to take measures against tax avoidance by giant global corporations at their meeting in Australia on September 20. This now needs to be seen by the G20 as a stepping stone towards far tougher and meaningful actions against illegal tax evaders, corrupt corporations and financial institutions that launder money for corrupt officials, politicians, criminal organizations and businesses.
U.S. Securities and Exchange Commission Faces Mounting Pressure to Act on Oil, Gas, Mining Global Transparency
The American Petroleum Institute (API), the powerhouse lobbying group for the oil industry, is pushing hard for actions that are not only explicitly against the interests of investors, but that bolster corrupt regimes in many foreign countries, such as in Nigeria and Angola and Venezuela.
Read MoreAvon’s Alleged Foreign Bribes Spell Trouble
The image of the serene Avon Lady calling on charming housewives to sell beauty products is being replaced by a picture of hardened Avon executives across the developing world paying bribes to build their business.This is not a trivial matter. Avon is in trouble.
Read MoreWho Cares About the Law -- We Just Want to Make Money, Says Chase
Wall Street's trumpets blasted in full force from the top of America's largest bank today to declare: all we care about is making money, even if that means breaking the law at times.
Read MoreWhy Top Bankers Evaded Justice
Across the world people have been asking why none of America’s top bankers went to jail for the crimes that caused the 2008 financial crisis. A leading New York judge now provides disturbing answers and underscores that none of the key bankers who caused the crisis will ever be criminally prosecuted.
Read MoreAnti-Corruption is Marching Ahead
Across the globe the call -- "End Corruption" -- is ringing loud. In the bitter cold of Ukraine's capital, Kiev, tens of thousands of citizens are demonstrating against the government of president Viktor Yanukovych. The protesters declared: "Out with the bandits!"
Read MoreKey Challenges Emerge in the Changing Landscape of Corporate Corruption
Corporations engaged in international business are facing formidable anti-corruption challenges. U.S. and other Western companies face the dual pressures of looming ever larger on the screens of official and media investigators, while on the other hand they find that winning big foreign deals is increasingly more difficult because of the rise of unscrupulous competitors.
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Key Anti-Corruption Challenges Facing Business (Speech)
TI Canada Business Roundtable Speech October 1 2013
Presentation by Frank Vogl to Canadian business leaders - key themes include
- the rising levels of investigations and prosecutions of business;
- the evolving landscape of anti-corruption efforts across the world;
- the mounting international business competition from Russian and Chinese corporations that do not face the same prosecution risks from their governments as Western multinationals do;
- the new transparency initiatives in the oil, gas and mining sectors;
- the complexity of finding punishments that adequately meet the crimes, be it in money laundering or corporate bribery;
- the reasons for cautious optimism about the outlook
China’s Rising Anti-Corruption Fever – Who is Next?
An unprecedented attack on corruption at the top of the Chinese Communist Party is now underway. Suddenly, following a spate of trials, arrests and investigations, it seems as if even the most senior leaders in the Communist Party are vulnerable.
Read MoreThe Rising Power of the Age of Transparency
China’s President Xi Jinping has announced a full-scale attack on corruption, stressing that he will crack down on both "tigers" and "flies"–powerful leaders and lowly bureaucrats in the government. He is the first leader of China to so publicly condemn corruption and to acknowledge that it is a rising threat to governmental cohesion and economic prosperity.
Read MoreGood Governance Requires Dimon to End Dual Roles at J. P. Morgan Chase
Raging debates about whether or not the CEO and Chairman roles at J.P. Morgan Chase should be divided have centered on the skills and personality of Jamie Dimon who currently holds both positions. Shareholders of J.P. Morgan Chase will vote on this issue at their annual meeting on May 21, 2013. They should not focus on the particular skills of Dimon, but rather on core issues of good governance.
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