Italy’s internal revenue service may levy taxes on the illegal earnings of over a dozen suspects in the multi-million-euro MOSE corruption case, sources said Tuesday. Prosecutors are looking at allegations that 25 million euros in taxpayer money was funneled into political campaigns and away from MOSE, a 5.5-billion-euro system of retractable dikes set to become […]

Prosecutors on Tuesday accused a former senior Petrobras executive of racketeering, bribery and money laundering through Switzerland and Uruguay in a widening kickback scandal that has engulfed Brazil’s state-run oil company. Nestor Cerveró was head of international operations at Petroleo Brasileiro SA, as the company is known, from 2003 to 2008, when prosecutors say he […]

Addis Ababa (AFP) – Africa loses at least $50 billion (44 billion euros) a year to illicit practices like tax fraud, corruption and organised crime, a worrying situation that is hurting the continent’s economies, a UN-mandated study group warned Sunday. Illicit financial flows — which range from international corporations dodging taxes to the trafficking of […]

British prosecutors are investigating whether subsidiaries of Alstom, the French power and transport company at the centre of an international corruption inquiry, committed offences in Hungary, a London court heard on Wednesday. The Serious Fraud Office (SFO) has already charged two UK-based Alstom subsidiaries and four former employees with corruption, alleging they disguised bribes as […]

Lawyers of Spain’s Infanta Cristina attend to media after she testified in front of judge Jose Castro over tax fraud and money-laundering charges in Palma de Mallorca February 8, 2014. ALBERT GEA/REUTERS Filed Under: World, Spain, Spanish Politics, Princess Cristina, corruption Spanish judges will begin 2015 by dealing with a backlog of corruption cases left […]

On 1 July 2011 the Bribery Act 2010 (the Act) came into force. The Act is a significant piece of legislation which no company doing business in the United Kingdom can afford to ignore. The practical effect of the Act is that it obliges any business operating in the United Kingdom to review its policies […]

The International Association of Insurance Supervisors (IAIS) has published an issues paper on combating bribery and corruption. The aim of the paper is to consider the risks that bribery and corruption pose to the insurance sector in particular to insurers and insurance intermediaries. The paper also considers various methods by which insurance supervisors can manage […]

Some 19 British firms are at the centre of an investigation into in a mammoth global money-laundering operation. The scheme was allegedly contrived to make $20bn (£12.5bn) worth of ill-gotten gains appear legitimate. The illicit funds are thought to have originated from criminal gangs and corrupt officials across the globe, attempting to make their dirty […]