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Entries in Algeria (21)

Monday
May112015

Algeria jails officials, fines seven foreign firms for highway graft

Algeria's East-West Highway (Image courtesy of Wikipedia)An Algerian court Thursday jailed 14 people and fined seven foreign companies after they were found guilty of corruption, money laundering, and embezzling public funds in a huge highway construction project.

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Thursday
Mar262015

China's number one export: Graft?

Chinese President Xi Jinping and his Sri Lankan counterpart Mahinda Rajapaksa witness the signing of the Colombo Port City Project in September 2014 (Image courtesy of CCC)Sri Lanka this month became the latest of at least five countries to shut down huge China-backed infrastructure and telecoms projects tainted by allegations of corruption.

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Tuesday
Mar172015

Algeria: Sonatrach corruption trial stopped on day one when witnesses stay away

A corruption trial involving former executives at Algeria's state-owned oil company Sonatrach was adjourned Sunday shortly after it began when witnesses failed to appear.

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Tuesday
Mar172015

FinCEN updates AML/CFT counter-measures and enhanced due diligence list

Roger Wilkins AO (Australia) FATF President 2014-2015The U.S. Treasury Department's Financial Crimes Enforcement Network sets risk-based compliance obligations of U.S. financial institutions. FinCEN directs counter-measures against the countries with the highest risk and enhanced due diligence against others.

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Thursday
Apr242014

Does graft keep OPEC weak?

The Organization of the Petroleum Exporting Countries was founded in Baghdad in 1960 by five countries -- Iraq, Iran, Kuwait, Saudi Arabia, and Venezuela. It later expanded to the current twelve members.

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Wednesday
Apr022014

Eni CEO sentenced to prison for environmental lapses

The CEO of Italian energy giant Eni, Paolo Scaroni, was sentenced to three years in prison Monday over inadequate environmental standards at a power plant when he was CEO at Italian utility Enel.

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Thursday
Feb202014

Financial Action Task Force: These nations have AML deficiencies 

The Financial Action Task Force (FATF) identified jurisdictions that have strategic deficiencies in their anti-money laundering and financing of terrorism controls in a public statement last Friday.

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Tuesday
Jan212014

Eni says audit proves no Algeria bribes

Italian state-owned oil giant Eni SpA said a forensic audit proved the company didn’t pay any bribes in Algeria.

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Wednesday
Aug142013

In Algeria, Eni investigation snares ex minister

Chekib Khelil, Algeria's former energy minister, is wanted for corruption (photo courtesy of Wikipedia)Algeria's former energy minister is wanted on an international arrest warrant for alleged corruption following accusations of bribery involving Italian energy giant Eni.

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Tuesday
May282013

New arrest in SNC-Lavalin case

The former head of a Montreal hospital was arrested in Panama Monday on an Interpol warrant charging him with fraud.

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