Featured Brazil

Kenya’s new Bribery Act, which pairs onerous obligations with severe penalties, may mark the start of a new era in which developing countries pass and enforce anti-bribery laws that are far more stringent than those in “traditional” compliance jurisdictions. Read More
11th October 2018
AP — Across Latin America, prosecutors have been pressing charges in recent years against politicians accused of corruption in the scandal involving Brazilian construction giant Odebrecht, which admitted to paying $800 million in bribes in the region. Not in Mexico. Evidence that could shed light on bribes paid… Read More
28th September 2018
AP — Brazil’s state oil company Petrobras said Thursday it had agreed to pay more than $850 million in penalties for bookkeeping violations related to bribes to Brazilian politicians and political parties. Petrobras said in a securities filing that the penalties total $853.2 million. It said… Read More
11th July 2018
Industrial conglomerate Odebrecht SA has signed a leniency deal with Brazil’s attorney general and comptroller general expanding on an agreement with federal prosecutors that set terms for its cooperation in a massive graft probe, authorities said on Monday. Odebrecht has been at the center of a global corruption investigation involving… Read More
4th July 2018
AP — A Brazilian businessman famous for amassing and then losing a multi-billion-dollar fortune has been convicted of corruption and money laundering and sentenced to 30 years in prison. Eike Batista was found guilty of paying around $16.5 million in bribes to the then-Rio de Janeiro governor… Read More
14th May 2018
AP — On the sixteenth floor of the headquarters of Odebrecht, the construction company at the center of one of the largest graft scandals in history, the executive charged with stamping out corruption insists the firm has changed its ways. Meanwhile, at the reception area downstairs, a justice official… Read More
6th April 2018
A Brazilian judge on Thursday ordered former President Luiz Inacio Lula da Silva to turn himself in to police within 24 hours to serve a 12-year sentence for a graft conviction, likely ending the presidential front-runner’s hopes of returning to power. Lula was convicted last year for taking bribes from… Read More
3rd April 2018
Brazil’s securities regulator, CVM, said on Monday it was probing possible insider trading at Banco Original, a bank that belongs to J&F Investimentos, which has been at the center of a corruption scandal. The regulator will look into transactions in interest rate futures and derivatives that occurred before the release… Read More
28th March 2018
Brazilian ex-President Dilma Rousseff has criticised Netflix over its new series, The Mechanism, which is based on one of the largest corruption scandals to hit Brazil. Ms Rousseff accused Netflix of “distorting reality” and spreading lies about her and her fellow ex-President Luiz Inácio Lula da Silva. The series premiered… Read More
28th February 2018
North Korean leader Kim Jong Un and his late father Kim Jong Il used fraudulently obtained Brazilian passports to apply for visas to visit Western countries in the 1990s, five senior Western European security sources told Reuters. While North Korea’s ruling family is known to have used travel documents obtained… Read More
31st January 2018
Former Brazilian President Luiz Inacio Lula da Silva leads in the first presidential poll published since an appeals court upheld his conviction on corruption charges, a decision which is likely to knock him out of contention for the October election. The Datafolha survey published on Wednesday in the Folha… Read More
Must Read

EU adopts Sixth Anti-Money Laundering Directive EU 6AMLD, deadline set

Countries across the European Union will have two years to implement a new system of jail sentences and sanctions for money launderers following the formal adoption of the EU’s latest anti-money laundering directive, dubbed 6AMLD (Sixth Anti-Money Laundering Directive) on 11 October 2018. Once the directive is published in the… Read More

Anti-money laundering compliance costs hit $25 billion annually – study

The cost of AML compliance across U.S. financial services firms equaled $25.3 billion per year based on survey responses from more than 150 decision-makers at banks, investment, asset management and insurance firms, according to a new study. The report shows that smaller firms are hit hardest, relative to their bottom… Read More