Trudeau ~ Canadians In Paradise Papers Will Be Investigated:

International Consortium Of Investigative Journalists | By: Ryan Chittum | November 07, 2017: Canadian Prime Minister Justin Trudeau said the Canada Revenue Agency would investigate Canadians names in the Paradise Papers. as he fended off questions about his relationship with his close ally and Liberal Party fundraiser Stephen Bronfman. The comments came a day after ICIJ and its partners, which…

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Inside The Secret World Of Offshore Mega-Trusts:

International Consortium Of Investigative Journalists | By: Spencer Woodman | November 07, 2017: Records reveal huge overseas hoards tied to hedge fund tycoon and Democratic donor James Simons and other ultra-wealthy individuals. In December 2010, an attorney associated with James H. Simons, the billionaire founder of the hedge fund Renaissance Technologies, submitted a secret application to Bermuda’s highest court. He…

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“People With Significant Control” ~ Companies House Register Is Live:

UK Government | GPE – November 07, 2017: From today (30 June 2016) companies will have to declare who owns or controls them to Companies House. Originally published June 30, 2016: The People with Significant Control (PSC) register includes information about the individuals who own or control companies including their name, month and year of birth, nationality, and details of…

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China Declares War On Polluters ~ Shutters 40% Of Factories:

Clean Technica | By: Steve Hanley | October 28th, 2017: China is getting serious about curbing pollution. According to sources, up to 40% of its factories have been closed at least temporarily recently as the country has struggled to meet its year-end pollution reduction goals. Officials from more than 80,000 factories have been charged with criminal offences for breaching emissions…

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SEC Sues Rio Tinto Over Claims It Misled Investors:

The Wall Street Journal | By: Dave Michaels | October 17, 2017: Miner valued Mozambique coal assets at $3 billion though value was internally assessed at negative $680 million, according to lawsuit. U.S. regulators on Tuesday sued Rio Tinto RIO -0.46% PLC and two former top executives over claims they misled investors about the value of Mozambique coal assets obtained…

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EU-U.S. Data Transfer Pact To Pass First Annual Review:

Reuters | By: Julia Fioretti | October 18, 2017: A year-old pact underpinning billions of dollars of transatlantic data transfers will get the green light from the European Union on Wednesday after the first review to ensure Washington protects Europeans’ data stored on U.S. servers. The EU-U.S. Privacy Shield was agreed last year after everyday cross-border data transfers were plunged…

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Researchers Uncover Flaw That Makes Wi-Fi Vulnerable To Hacks:

Reuters | By: Reuters Staff | October 16, 2017: Cyber security watchdogs and researchers are issuing warnings over risks associated with a widely used system for securing Wi-Fi communications after the discovery of a flaw that could allow hackers to read information thought to be encrypted, or infect websites with malware. An alert from the U.S. Department of Homeland Security…

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Supreme Court To Consider Search Warrant Power In Microsoft Email Case:

The Wall Street Journal | By: Brent Kendall | October 16, 2017: Company argues U.S. search warrants don’t reach data stored outside domestic borders. The U.S. Supreme Court on Monday agreed to decide whether email providers have to comply with search warrants seeking customer messages if the material is stored outside the U.S., the latest clash between technology companies and…

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Equifax’s Latest Security Foil ~ A Defunct Web Service:

The Wall Street Journal | By: Robert McMillan & AnnaMaria Andriotis | October 13, 2017: Visitors to company’s website were met with malicious software. The security issue that caused visitors to Equifax Inc.’s website this week to encounter malicious software happened because the site was attempting to use a discontinued web product, security researchers said Friday. To read full article…

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Equifax Hack Disclosed Driver’s License Data for More Than 10 Million Americans:

The Wall Street Journal | By: AnnaMaria Andriotis & Emily Glazer | October 10, 2017: Company also said file containing 15.2 million U.K. consumer records also affected. Driver’s license data for around 10.9 million Americans were compromised during the breach of Equifax Inc.’s systems, according to people familiar with the matter. The license information was accessed by hackers who also…

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Anti-Bribery Guidance ~ Third Party Risk Management:

Transparency International UK | Global Anti-Bribary Guidance | GPE – October 10, 2017: Chapter 12 – Extract: Third parties can represent a considerable bribery risk for companies. They may not operate to the standards of the company and can be used by corrupt employees as channels for bribery. Intermediaries, in particular, are high risk; many of the largest settled case…

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New Kid On The Blockchain ~ The Distributed Ledger And The Fight against Corruption:

Transparency International UK | By: Jane Smith | GPE – October 10, 2017: In the dystopian reality of many people’s lives, where kleptocrats gleefully pounce upon myriad opportunities to syphon funds, steal elections and strangle free speech, opacity is key. The lack of transparency enabling these quotidian wrongdoings may now be under attack from an exciting technology which is about…

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7 Anti-Corruption Takeaways From OECD’s 2017 Integrity Forum:

Transparency International UK | By: Robert Barrington | GPE – October 10, 2017: This week, the OECD held its annual Integrity Forum – where a collection of experts from governments, inter-governmental organisations, business and civil society gather to discuss corruption. Robert Barrington discusses some of the key themes from this year’s meeting. Originally published March 31, 2017: Meetings like this…

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A Small Step For Anti-Corruption? Beneficial Ownership In The Overseas Territories:

Transparency International UK | By: Jameela Raymond | GPE – October 10, 2017: In 2016 the UK’s Overseas Territories (OTs) and Crown Dependencies (CDs) committed to introduce central registers of beneficial ownership information or ‘similarly effective systems’ by 30 June 2017. Governments have made public statements acknowledging that verified information on company beneficial ownership can be used effectively to detect…

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A Compliance Plan For FinCEN’s New Customer Due Diligence Rule:

The FCPA Blog | By: John Arvanitis | October 09, 2017: The Financial Crimes Enforcement Network’s Final Rule regarding customer due diligence will soon be in force. With implementation required by May 11, 2018, covered financial institutions must ensure their due diligence programs are in line with FinCEN’s guidance on core elements of a customer due diligence program. The four…

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SEC’s Corporate Filing System Vulnerable To Denial Of Service Attacks ~ Memo:

Reuters | By: Sarah N. Lynch & Jim Finkle | October 06, 2017: The U.S. Securities and Exchange Commission (SEC), Wall Street’s top regulator, has discovered a vulnerability in its corporate filing database that could cause the system to collapse, according to an internal document seen by Reuters. The SEC’s September 22 memo reveals that its EDGAR database, containing financial…

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Reinsurers Urged To Investigate Cedants Financial Profile:

Reinsurance News | By: Marianne Lehnis | October 03, 2017: Reinsurers could place lines of business at risk by failing to properly investigate the financial profile of cedants before taking on their risks, Litmus Analysis warned. “There’s a general consensus among reinsurers that this is an important part of the reinsurance process, but generally with little clarity about how important…

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Don’t Give In To Power Of Attorney Pressure:

FINRA | By: Pete Chandler | GPE – October 03, 2017: Pressure tactics and sound investing rarely, if ever, go hand in hand. This holds true when it comes to pressure to sign legal documents that give someone else the authority to make financial decisions on your behalf, such as a Power of Attorney, or POA. Originally published September 28,…

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Why Foreign Bribery And Accounting Fraud Happen Together:

The FCPA Blog | By: Richard Bistrong | October 03, 2017: Alere Inc. paid more than $13 million last week to settle SEC charges of accounting fraud and overseas bribery. Embedded in the details are some very meaningful lessons for compliance leaders, and even more importantly, for business leaders. Those real-world lessons are about the accounting fraud. The SEC’s release…

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