Posted Friday August 21, 2015

Weekly roundup

Weekly roundup: Tianjin warehouse owners obtained fraudulent safety licences, Iran has highest money laundering risk, UK Bribery Act a success of ‘soft enforcement’ and more

  • Owners of the Tianjin warehouse that exploded last week have admitted obtaining fraudulent licenses from fire safety officials by developing good relationships – or guanxi – with the local administration.
  • Canada’s October elections are being dominated by a bribery and fraud investigation involving Conservative Senator Mike Duffy, a former ally of Prime Minister Stephen Harper.
  • Just as financial sanctions are set to loosen, Iran has been ranked as the country with the highest vulnerability to risk of  money laundering and terrorist financing, according to research by the Basel Institute on Governance.
  • A review by Transparency International assessing progress on the OECD Convention on Combating Foreign Bribery found that only four countries (Greece, Netherlands, Norway and South Korea) had improved in their enforcement of the convention since 2014. Argentina fell into the lowest-scoring group this year; the only country to regress.
And finally, Mike Koehler goes through a recent evaluation of the UK 2010 Bribery Act and argues that the act has been a success of ‘soft enforcement’ in that there is a relatively high level of awareness of the act among UK businesses. The report also showed that the act had encouraged firms to put bribery prevention procedures in place despite a relatively low number of fines and enforcement actions imposed, particularly in comparison with the FCPA.

Arachnys weekly update

New sources: 98

Source of the week:

The Chilean Lobby Law Platform (Plataforma Ley del Lobby) lists all registered lobbyists as well as donations made to Chilean politicians.

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