Corruption

After Danske, Next Dirty Money Route Gets Scrutinized in Denmark

As one avenue for money launderers is shut, another one may be opening. Frances Schwartzkopff Bloomberg In Denmark, home to Danske Bank A/S, the authorities are now taking a closer look at companies that provide payment services. The worry is that the process is becoming so complex that criminals might be able to hide their illicit transactions. Danish Business Minister Rasmus Jarlov says the goal is “to all the time be ahead of the criminals.” Because they’re “trying to exploit any ... Read More »

Anti-corruption candidate wins first round of Slovakia’s presidential election

Zuzana Čaputová will face Commission Vice-President Maroš Šefčovič in final vote. By ANCA GURZU AND LAURA GREENHALGH Politico Lawyer Zuzana Čaputová won the largest share of votes in Slovakia’s presidential ballot Saturday, making her the frontrunner ahead of a second round later this month. Čaputová, a newcomer to politics who has run a campaign focused on tackling corruption, won 40.6 percent of the vote, ahead of government candidate and European Commission Vice-President Maroš Šefčovič on 18.7 percent, according to the… The two will face off in ... Read More »

Former NAB boss’ chief of staff charged over alleged fraud

A former senior executive at the National Australia Bank has been arrested and charged after travelling from Melbourne to Sydney to be interviewed by police over an alleged $40 million fraud engulfing the bank. Lucy Cormack The Age Rosemary Rogers, the former chief of staff to former NAB boss Andrew Thorburn, presented herself at Surry Hills police station about 11am on Tuesday, after flying of her own accord to Sydney. Shortly before 3pm on Tuesday the 43-year-old was charged with ... Read More »

Royal Commissions tell us a great deal about Corruption. But will Justice be an inevitable final chapter?

The string of Royal Commissions have provided us with stinging visual images of corruption, notably among bankers and clergymen. Josephine Zananiri Tasmanian Times Aside from some gratifyingly blunt cross-examination, causing a degree of humiliation, the legal outcomes are far from clear. At this point we might hazard a guess that corruption and justice are a sleight of hand depending on the cards dealt. Now if you happened by chance to find yourself in the top say five per cent of ... Read More »

Political corruption scars young voters forever, new research finds

Twenty-five years after the Clean Hands scandal in Italy, those who voted for the first time in 1994 still record less trust in democratic institutions and are more likely to vote for populist parties, according… AAAS and EurekAlert! New research finds that political corruption has a long-term scarring effect on trust in democratic institutions and on voters’ behavior and that such an effect differs according to one’s age cohort, with first-time voters at the… In particular, Bocconi University’s Arnstein Aassve, ... Read More »

White-collar crooks face up to 15 years in jail under new penalties

Banking executives face up to 15 years in jail under tough new laws to stamp out white-collar crime as the corporate regulator prepares to crack down on misconduct in the sector. Sarah Danckert The Sydney Morning Herald On Friday, the Senate passed a long-awaited bill that drastically increases the penalties for white-collar crime. Australian Securities and Investments Commission’s deputy chairman, enforcement, Daniel Crennan, QC, welcomed the passing of the bill on Friday. “Now ASIC will be in a position to ... Read More »

El Chapo Found Guilty on All Counts; Faces Life in Prison

The Mexican crime lord known as El Chapo was convicted on Tuesday after a three-month drug trial in New York that exposed the inner workings of his sprawling cartel, which over decades shipped tons of drugs into the… Alan Feuer The New York Times The guilty verdict against the kingpin, whose real name is Joaquín Guzmán Loera, ended the career of a legendary outlaw who also served as a dark folk hero in Mexico, notorious for his innovative smuggling tactics, ... Read More »

Goldman Sachs’ role in the 1MDB scandal – in 300 words

The 1MDB corruption scandal has cast a shadow over Goldman Sachs, raising questions about how much the US investment bank knew about the misconduct. BBC What is Goldman accused of? The firm helped raise $6.5bn (£5bn) for the Malaysian development fund, advising on three bond offerings in 2012 and 2013. Prosecutors allege more than $2.7bn was later embezzled, used to bribe government officials and buy luxury items. In November, Goldman’s lead banker on the deals, Tim Leissner, pleaded guilty in US court ... Read More »

Guzmán trial: Drug lord tortured and murdered rivals, says witness

Mexican drug kingpin Joaquín “El Chapo” Guzmán personally tortured and murdered his rivals, his former bodyguard has said at a trial in New York. BBC In the most gruesome testimony to date, Isaias Valdez Rios described seeing “El Chapo” brutally beat at least three men before shooting them. Guzmán denies charges including trafficking and money laundering. If guilty, he could be jailed for life. The ex-boss of the Sinaloa cartel was held in 2016 after escaping from jail. He used ... Read More »

Journalist Pelin Ünker sentenced to jail in Turkey over Paradise Papers investigation

Journalist was found guilty of ‘defamation and insult’ for writing about companies owned by former PM Julian Borger The Guardian A Turkish journalist has been sentenced to more than a year in jail for her work on the Paradise Papers investigation into offshore tax havens, because it revealed details of the business activities of the country’s former prime minister and his sons. Pelin Ünker, a member of the International Consortium of Investigative Journalists (ICIJ) was found guilty in an Istanbul ... Read More »

Fire and Ice: Conflict and Drugs in Myanmar’s Shan State

Civil strife has turned Myanmar’s Shan State into a crystal methamphetamine hub. ICG The richer the traffickers get, the harder the underlying conflicts will be to resolve. Instead of targeting minor offenders, the military should root out corruption, including among top brass, and disarm complicit paramilitaries.  What’s new? Shan State has long been a centre of conflict and illicit drug production – initially heroin, then methamphetamine tablets. Good infrastructure, proximity to precursor supplies from China and safe haven provided by ... Read More »

Competitive elections are good for democracy – just not every democracy

The 2018 U.S. midterm elections were fierce, expensive and full of upsets, with political newcomers ousting long-tenured incumbents and Democrats unseating Republicans to retake the House of Representatives. Authors: The Conversation That makes them an exemplary democratic exercise from a political science standpoint: American voters booted the congressional representatives who they believed did not fight for their interests. That’s exactly what elections are meant to do: Hold politicians accountable. But it doesn’t work that way everywhere. In younger democracies, our ... Read More »

What Populists Do to Democracies

According to our research, populist governments have deepened corruption, eroded individual rights, and inflicted serious damage on democratic institutions. Yascha Mounk Jordan Kyle The Atlantic When Jair Bolsonaro won Brazil’s presidential election in October to the consternation of the country’s traditional political elite, commentators were sharply divided about the implications. Some warned that Bolsonaro, a far-right populist who has openly expressed admiration for the brutal military dictatorship that ruled Brazil from 1964 to 1985, presented a clear and present threat ... Read More »

Former Pakistan PM Sharif sentenced to seven years jail for graft

Former Pakistani leader Nawaz Sharif was sentenced to seven years in prison for corruptionMonday, state media reported, the latest conviction in a series of allegations which saw him ousted from power last year. ISLAMABAD – AFP Hurriyet Sharif, a three-time prime minister, has denied all the charges against him and claims he is being targeted by the country’s powerful security establishment. Monday’s conviction, centred on family businesses in the Middle East, is his second stemming from a corruption investigation spurred by the Panama Papers leak, and ... Read More »

One more death on third day of protests in Sudan

At least one protester was killed in the northern Sudanese city of Atbara on Dec. 21, the security chief said, as people took to the streets across the country for a third day against price rises and… KHARTOUM – Reuters Hurriyet Police fired teargas at groups who gathered in Atbara and the capital Khartoum’s twin city of Omdurman after noon prayers, witnesses said, and residents reported hearing gunfire in surrounding areas and… Web users reported problems accessing the internet, and ... Read More »

Goldman’s Woes Mount as Malaysia Slaps First Criminal Charge

Malaysia is demanding Goldman Sachs Group Inc. bear the brunt of the 1MDB scandal, opening up another legal front for the Wall Street firm over its role raising money for the investment fund. By Anisah Shukry and Sridhar Natarajan Bloomberg The country filed the first criminal charges against the U.S. bank in the global corruption probe on Monday, after publicly urging Goldman to come to the negotiating table or face litigation. The firm already is in the thick of investigations ... Read More »