High Tide: From New Vatican Rules To Malaysia’s Alcatel Probe
By Samuel Rubenfeld
Bribery:
Malaysian anti-corruption authorities launched their own investigation into U.S. claims of bribery by Alcatel to obtain contracts. (Reuters)
U.S. pharmaceutical companies are worried about how the U.K. Bribery Act will be enforced. (Fairwarning)
FCPA Blog releases its 2011 watch list.
Thebriberyact.com warns about facilitation payments under the U.K. Bribery Act.
The Vatican said the Pope will issue new rules that have the force of law to increase transparency at its bank after a money laundering investigation led to the seizure of $30 million. More here. (AP, Antimoneylaundering.us)
Colombian football seeks to escape the grip of drug cartels, which allegedly launder profits through the teams. (Guardian)
The Kenya Anti-Corruption Commission said it has recovered Sh50 million (or about $600,000) stashed abroad in the last two months. (Daily Nation)
Sanctions:
Standard Chartered has launched a review of its compliance with U.S. sanctions, after revealing it is in discussions with American authorities about its “past business” with Iran. (Daily Telegraph)
The U.S. has had trouble penetrating the web of corruption that envelops Afghanistan, and the case of banker Haji Muhammad Rafi Azimi illustrates the problem. Azimi, who U.S. and Afghan officials say bribed senior officials, moved money for drug traffickers and kept the Taliban flush with cash, denied wrongdoing in an interview. (Wall Street Journal)
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