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U.S. judge says China's ZTE violated probation; extends monitor's term - Hong Kong Freezes Chairman Assets, Alleges $1.3 Billion Con - Number of Queensland officials seeking whistleblower protection at record levels - And More
10/4/2018 8:17:00 AM

 

 

U.S. judge says China's ZTE violated probation; extends monitor's term

On Oct. 3, Reuters reported, “A U.S. judge on Wednesday issued an order finding that China’s ZTE Corp violated probation imposed in March 2017 when the company pleaded guilty for conspiring to evade U.S. sanctions by illegally shipping U.S. goods and technology to Iran. In his order, U.S. District Judge Ed Kinkeade in Dallas extended until 2022 the term of a monitor he appointed to assess ZTE’s compliance with U.S. export control laws. The monitorship originally was scheduled to end in 2020.”

 

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Hong Kong Freezes Chairman Assets, Alleges $1.3 Billion Con

On Oct. 2, Bloomberg reported, “Hong Kong’s securities regulator froze the assets of an unnamed chairman of a public company on suspicion of fraud totaling $1.3 billion. The person may have conducted two suspicious transactions to make significant profits, the Securities and Futures Commission said in a statement dated Sept. 17 but published to the city’s official Gazette on Friday. It did not name the company or person it suspects of being involved in the alleged fraudulent transactions.”

 

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Number of Queensland officials seeking whistleblower protection at record levels

On Oct. 2, The Guardian reported, “A record number of public officials sought whistleblower protection for reporting corrupt conduct in Queensland last financial year, but concerns remain about the extent to which state’s corruption watchdog is able to investigate and prosecute many of those cases. The Queensland ombudsman has responsibility for oversight of public interest disclosures – a formal process designed to protect whistleblowers. In 2017-18, public officials made 591 disclosures about corrupt conduct, representing about three-quarters of the total claims made by whistleblowers. For the same period, the ombudsman reported that 70% of all whistleblower disclosures were substantiated or partially substantiated.”

 

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Feds Settle Huge Whistleblower Suit Over Medicare Advantage Fraud

On Oct. 2, HealthLeaders Media reported, “One of the nation's largest dialysis providers will pay $270 million to settle a whistleblower's allegation that it helped Medicare Advantage insurance plans cheat the government for several years. The settlement by HealthCare Partners Holdings LLC, part of giant dialysis company DaVita Inc., is believed to be the largest to date involving allegations that some Medicare Advantage plans exaggerate how sick their patients are to inflate government payments. DaVita, which is headquartered in El Segundo, Calif., did not admit fault.”

 

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Register for the Compliance & Ethics Institute | Oct 21-24 in Las Vegas | Learn More >Register for the Compliance & Ethics Institute | Oct 21-24 in Las Vegas | Learn More >

 

'Good chance' Danske whistleblower will testify in European Parliament: lawyer

On Oct. 2, Reuters reported, “The whistleblower who helped reveal suspected money laundering at Danske Bank will consider an invitation from an EU parliament committee, his lawyer said on Tuesday, adding there is a ‘good chance’ he will attend a hearing next month. The European Parliament said on Tuesday it would invite the whistleblower to testify on Nov. 21 before its special committee on financial crimes, tax evasion and tax avoidance. Last week, Danish newspaper Berlingske named the whistleblower as Howard Wilkinson, a former head of Danske Bank’s trading business in the Baltics.”

 

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AmerisourceBergen to pay $625 million in U.S. civil fraud settlement

On Oct. 1, Reuters reported, “AmerisourceBergen Corp, one of the largest U.S. drug wholesalers, will pay $625 million to resolve civil fraud charges over the sale of syringes containing drugs for cancer patients, double billing, and providing kickbacks to doctors. The settlement announced on Monday by the U.S. Department of Justice boosts AmerisourceBergen’s total payout to $885 million over its repackaging and distribution of pre-filled syringes that were not approved by the U.S. Food and Drug Administration. In September 2017, the company’s AmerisourceBergen Specialty Group unit pleaded guilty to a related misdemeanor, and paid $260 million of criminal fines and forfeitures.”

 

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Tesco Bank fined £16.4m by watchdog over cyber-attack

On Oct. 1, The Guardian reported, “Tesco Bank has agreed to pay £16.4m as part of a settlement with the Financial Conduct Authority following a cyber-attack in 2016. Tesco said the attack did not involve the theft or loss of any customers’ data, but led to 34 transactions in which funds were debited from accounts, and other customers having normal service disrupted. The FCA said the fraud netted cyber-attackers £2.26m, exploiting ‘deficiencies’ in Tesco Bank’s design of its debit card, its financial crime controls and in its financial crime operations team.”

 

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Facebook may face $1.63 billion EU fine for breach

On Sept. 30, Market Watch reported, “A European Union privacy watchdog could fine Facebook Inc. as much as $1.63 billion for a data breach announced Friday in which hackers compromised the accounts of more than 50 million users, if regulators find the company violated the bloc's strict new privacy law. Ireland's Data Protection Commission, which is Facebook's lead privacy regulator in Europe, said Saturday that it has demanded more information from the company about the nature and scale of the breach, including which EU residents might be affected. In an emailed statement, the regulator said it is ‘concerned at the fact that this breach was discovered on Tuesday and affects many millions of user accounts but Facebook is unable to clarify the nature of the breach and the risk for users at this point.’”

 

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Revealed: Documents Show BP Quietly Paid Just $25 Million to Mexico After The Worst Oil Spill Of The Century

On Sept. 28, BuzzFeed News reported, “The Mexican government quietly accepted a $25.5 million payout earlier this year from oil giant BP to free the company of responsibility for polluting Mexican waters after the largest oil spill of the 21st century. The tiny payout was part of a confidential settlement to dismiss a lawsuit relating to the Deepwater Horizon disaster, when a BP offshore drilling rig exploded on April 20, 2010, in the Gulf of Mexico. It killed 11 workers and released more than 4 million barrels of oil off the coast of Louisiana — roughly 200 miles from Mexican territory.”

 

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Complete Compliance and Ethics Manual

Complete Compliance and Ethics Manual

 

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Ethikos — The Journal of practical business ethics

Ethikos — The Journal of practical business ethics

 

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