Growing protests over corruption in global hot spots means increased risks of the movement of proceeds of corruption from PEPs to the West

2019 seems to have been a record year for mass protests by citizens marching against national corruption – at least 10 countries have had massive protests in the last few months, many of which are ongoing. Corruption at the national level is perpetrated by politically exposed persons (“PEPs“) who have access to the country’s coffers, […]

Brazil arrests 2 bank employees for AML compliance failures that allowed $249 million to be laundered and says its considering suing the bank for not stopping money laundering

Two bank employees arrested over AML failures Brazil’s chief prosecutor, Eduardo El Hage, who is in charge of Operation Car Wash, obtained an order from Brazil’s federal court for the arrest of two bank employees with Banco Bradesco SA this week, arguing that they were lax on applying anti-money laundering law. Their alleged AML compliance failures, […]