Uber faces investigation for potentially violating Foreign Bribery Laws

The US Department of Justice is conducting a preliminary investigation into whether Uber may have bribed foreign officials.

The preliminary probe was first reported by the Wall Street Journal. An Uber spokesperson confirmed it, saying it was cooperating with the department's inquiries.

The Journal reported that federal investigators are looking into claims that the $69 billion ride-hailing company may have violated the Foreign Corrupt Practices Act, which bans bribing foreign officials for business purposes.

Read the full original article at Forbes.com

Vietnam: 51 bankers, businessmen on trial for fraud

A former banking magnate and 50 others went on trial in Vietnam Monday (Aug 28) over a multi-million dollar fraud at a major private bank, as the communist nation cracks down on corruption in the sector.
In the latest trial, the ex-chairman of Ocean Bank, Ha Van Tham, is accused of illegally approving loans worth US$23 million in 2012, ultimately leading to the bank's demise and stripping him of his status as one of the country's richest men.
Tham and 50 other bankers and businessmen, most of whom worked at Ocean Bank, face various charges related to the illegal loan in the 20-day trial that opened Monday.
Read the full original article at Channel NewsAsia.com

Philippines says will lift Uber suspension if hefty fine paid

The Land Transportation Franchising and Regulatory Board of Philippines, or LTFRB said on Friday it would lift a one-month suspension on Uber Technologies Inc [UBER.UL] if it paid a penalty of 190 million pesos ($3.7million), a fine nearly 20 times greater than Uber had offered to pay.

The Transport Regulator said Uber also needed to collectively pay its drivers nearly 20 million pesos daily as financial assistance during the suspension period.

The regulator halted Uber’s operations for a month from Aug. 14 for disregarding a directive to stop accepting new driver applications.

Read the full original article at Reuters.com

Indonesia: KKK named Sea Transportation Director General corruption suspect

The Corruption Eradication Commission (KPK) has named Director General of Sea Transportation Antonius Tonny Budiono (ATB) as a suspect in an alleged corruption in goods and service projects in the directorate general of transportation.

The KPK raised the status of the case into investigation in line with the naming of two persons, namely ATB and PT Adhi Guna Keruktama (AGK) Commissioner Adiputra Kurniawan (APK), as suspects in the case.

During its red-handed operation  on Aug 23 and 24, the KPK confiscated a certain amount of money and automatic teller machine (ATM) cards. The total amount of money found by the KPK in the case is valued at Rp20 billion,

Read the full original article at Antaranews.com

Bottom line better without corruption- Siemens story

In 2007 Siemens hit the worst crisis in its 170-year history. It was found to have systematically violated anti-corruption laws and accounting regulations in one of the biggest ever business corruption scandals, spanning markets internationally.

The company co-operated with investigators, and launched its own probe into every part of the business. It paid $1.6 billion in fines in Germany and the US, and launched a massive cull of management. The CEO and chairman were forced out. 
Around 80% of top executives were replaced, 70% of the next level, and 40% of the level below that. This was the point at which Siemens committed itself to 100% ethical practices. And it discovered that it did not need to bribe. Its products would stand on their merit.

APEC Pathfinder Dialogue: Corruption - driver of illegal logging

Around 120 representatives from member economies of the Asia-Pacific Economic Cooperation (APEC) forum gathered at the 4th APEC Pathfinder Dialogue in Ho Chi Minh City on 19-20 August to discuss measures to strengthen the fight against illicit trade and corruption.

The delegates noted that corruption fosters illegal logging. They shared experience and best practices in combating corruption in forest product trade in the customs environment. They also discussed new momentums for combating corruption in wildlife trafficking and how to work with civil society to combat corruption as a propagator of wildlife trafficking, detect and disrupt wildlife trafficking using anti-money laundering and asset confiscation techniques.


Working Group Members :

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