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Nordea drawn into alleged money laundering scandals - UC Board of Regents reaches settlement following sexual harrassment claim - Indonesia arrests nine in bribery probe linked to $21 billion Lippo Group project - And More
10/18/2018 11:22:00 AM



Nordea drawn into alleged money laundering scandals

On Oct. 17, Financial Times reported, “Nordea became the latest large Nordic bank to be drawn into alleged money laundering scandals after a prominent Kremlin critic filed criminal complaints with Swedish and Norwegian authorities. Bill Browder, chief executive of Hermitage Capital Management whose accountant Sergei Magnitsky was beaten to death in jail after uncovering an alleged $230m Russian fraud, claimed in his 29-page complaint that sums of money worth millions of dollars from that fraud had flowed through 365 accounts at Nordea, the Nordic region’s biggest lender. Swedish prosecutors said they had received the document — which calls for an investigation into suspected fraud, falsification, dishonest conduct and money laundering — and would look into the claims.”


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UC Board of Regents reaches settlement following sexual harrassment claim

On Oct. 17, Daily Brun reported, “The University of California Board of Regents settled a sexual harassment case against a prominent faculty member at UC San Francisco for $150,000. Eunice Neeley, a former postdoctoral researcher, filed a complaint against her supervisor Stanton Glantz in December claiming he made lurid remarks toward her, stared at her body and forced her to hug him on several occasions, according to court documents. Glantz remains the director of the UCSF Center for Tobacco Control Research and Education and is a major figure in research on the adverse health effects of smoking as well as public policy surrounding tobacco, according to UCSF.”


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Indonesia arrests nine in bribery probe linked to $21 billion Lippo Group project

On Oct. 16, Reuters reported, “Indonesia’s anti-corruption agency has arrested nine people, including a top district government official and a company director, in a bribery investigation linked to the Lippo Group’s $21 billion Meikarta real estate project near Jakarta. In a sting operation on Sunday, the Corruption Eradication Commission (KPK) arrested two Lippo Group consultants and an employee accused of trying to pay off city officials to obtain property permits for Meikarta, KPK chairman Laode Muhammad Syarif told a news conference late on Monday. Costing $21 billion and billed as the ‘Shenzhen of Indonesia’, after the booming Chinese city, Meikarta is Lippo’s largest project to date and is meant to be a center for the automotive and electronic industries, while including five-star hotels, shopping malls and universities.”


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NMC hunts down whistleblower, makes workers ‘nervous’

On Oct. 16, Korea Biomedical Review reported, “The National Medical Center is reportedly going after a whistleblower who revealed that the hospital allowed a medical device salesperson to assist a spinal surgery. According to NMC staffs, the hospital is leaking a rumor that a specific worker is the informant, and closely monitoring suspicious employees and the reactions around them. The employees added that the hospital was warning to them that ‘if they tell the police a wrong story, the police would call them frequently and bother a lot.’ The hospital is trying to hush down the case, the NMC workers said.”


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Audi fined $925 million in Germany over diesel emissions

On Oct. 16, Associated Press reported, “German law enforcement authorities added another chapter to Volkswagen’s diesel scandal Tuesday by fining the company’s luxury division Audi 800 million euros ($925 million) for selling cars rigged to cheat on emissions tests. Prosecutors in Munich said Tuesday that the fine was imposed because Audi management neglected its oversight duties in selling cars with engines made by it and group partner Volkswagen that did not conform to legal limits on harmful emissions of nitrogen oxides. The case covered some 4.9 million Audi cars sold in Europe, the U.S. and elsewhere between 2004 and 2018.”


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IBM Takes Cybersecurity Training on the Road

On Oct. 15, The New York Times reported, “Two years ago, IBM opened one of the nation’s first commercial cybersecurity ranges in Cambridge, Mass., to let companies practice responding to simulated cyberattacks. It describes the experience as ‘a game of Clue mixed with a Disney roller-coaster ride.’ In a windowless bunker packed with a data center, wall-to-wall monitors, atmospheric controls, dozens of work stations and a functional TV studio, participants have about four hours to investigate and respond to a fictional data breach. It’s like an escape room for security nerds.”


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Sources: A federal grand jury is investigating MLB's international dealings, and officials on all sides are worried

On Sept. 28, Yahoo Sports reported, “A federal grand jury is looking into Major League Baseball teams’ international dealings and has issued subpoenas to club officials and other personnel involved in the transactions, three sources familiar with the probe told Yahoo Sports. Agents from the FBI have spearheaded the investigation, according to sources familiar with it, and lawyers from the Department of Justice who specialize in Foreign Corrupt Practices Act cases – which typically involve bribery of foreign officials – are involved as well.”


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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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Grow your compliance and ethics program | Join SCCE | Learn More >Grow your compliance and ethics program | Join SCCE | Learn More >




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Articles on the Ethics and Compliance Environment
The Society of Corporate Compliance and Ethics provides this library of articles, insight into current issues, the regulatory environment, and other items of interest to our members.