Petrobras Fined $1.8B for Duping U.S. Investors
U.S. authorities say the Brazilian energy giant padded its financial statements to conceal the payment of kickbacks to company executives by contractors.
Petrobras Settles Investor Class Action for $2.9B
The settlement resolves investor claims arising from the $2 billion corruption scandal that has rocked Brazil for four years.
Corruption Is Costly — and Pervasive
An anticorruption survey from AlixPartners shows redoubled efforts at checking the rising tide of fraud and graft.
General Cable Fined $75M for Foreign Bribery
The SEC alleges the company generated more than $51 million in illicit profits by bribing government officials in Africa and Asia.
Och-Ziff Settles Africa Bribery Case for $412M
The hedge fund allegedly "positioned itself to profit" from endemic corruption in Africa by bribing government officials.
IMF Urges Tougher Fight Against Corruption
While the annual cost of bribery alone is an estimated $1.5 trillion to $2 trillion, the fund says the indirect damage is even higher.
Crime Doesn’t Pay, Says Harvard Bribery Study
Corruption does boost local sales, but those are canceled out by the costs associated with bribery, as indicated by return on equity.
Citigroup Discloses FIFA Bribe Probe Subpoena
Federal prosecutors are investigating whether banks should have raised alarms about money transfers linked to allegedly corrupt FIFA officials.
Firms Facing Tough Anti-Corruption Hurdles
A KPMG survey says the complexity of complying with anti-bribery regulations is making it more difficult to audit third parties.
China Uncovers $2.7B in Misused Lottery Funds
Audit finds that a quarter of all the money raised through the state-run lottery program between 2012 and 2014 was embezzled or misappropriated.