Corruption Currents: Canadian Banks Aid Chinese Money Laundering

A daily roundup of corruption news from across the Web. We also provide a daily roundup of important risk & compliance stories via our daily newsletter, The Morning Risk Report, which readers can sign up for here. Follow us on Twitter at @WSJRisk.


Former Guatemalan President Otto Perez Molina was ordered jailed on charges of fraud, conspiracy and bribery in connection with a customs corruption scandal that took down much of his government and forced him to resign. (AP)

The outgoing Egyptian agriculture minister was arrested for alleged bribery hours after handing in his resignation; he couldn’t be reached. An Egyptian anti-corruption activist was arrested for allegedly taking bribes; he didn’t appear to be contacted. (Ahram Online, AP, Reuters, Ahram Online)

An Indian court asked authorities to investigate a diary containing allegations of potential bribes in a coal case. (Times of India)

Two senior managers of a Chinese company that won tenders worth billions of shillings in Kenya were arrested for allegedly trying to bribe highway authority officials. (Daily Nation, Capital News)

Sri Lanka dismissed reports its anti-corruption bureau would be dissolved. Instead it named new appointees and launched new cases. (Colombo Page, Colombo Gazette, Hiru News, News First)

Qatar said people should stop talking about the bribery allegations against its World Cup bid, claims they say are false. (Bernama)

Croatia began a retrial of a former prime minister on corruption charges. (Reuters)

Australian lawyers called for changes in anti-bribery law. (ABC)

Money Laundering:

Some Canadian banks allow wealthy Asian investors to skirt Chinese law by helping them bring in large amounts of money often used to buy real estate in Vancouver, even though Canadian authorities say the vast majority of the transactions involved were flagged for money laundering suspicions. (Globe & Mail)

Deutsche Bank AG’s head of Russian equities has left amid probes into whether trades by Russian clients violated laws against money laundering. (Bloomberg)

Australian authorities began legal proceedings against a Malaysian family accused of laundering A$30 million. They didn’t appear to be contacted. (AAP, Sydney Morning Herald)

A Swiss court rejected the appeal of a former Bahrain oil minister accused of laundering bribes from Alcoa Inc. (SwissInfo)

India’s black money hunt is hitting Americans, too. (Forbes)

Interpol requested more information about why it should issue a red notice on a former cricket chief accused of money laundering. (Indian Express)

Pamela Porter was granted parole for her money-laundering sentence. (Montreal Gazette)

Pakistani authorities registered money-laundering cases against the brother of a political party leader, who himself is under investigation in London for alleged money laundering. (Dawn)


Standard Chartered PLC faces new fines for allegedly violating the terms of a 2012 sanctions settlement. The bank said it’s cooperating. (Sunday Times)

The Iran sanctions fight reached the states. (Reuters)


Companies are struggling to comply with conflict minerals rules. (NY Times)

General Anti-Corruption:

What China’s Communist Party fears most is a crisis over corruption that could threaten its hold on power, a senior official said. (Reuters)

A corruption case against former Slovenian prime minister Janez Jansa has expired. (Reuters)

Moldovans expressed rare defiance in an anti-graft protest. (euronews, WSJ)

Corruption still hurts development in Bangladesh. (Daily Star)

Singapore has to keep clear of corruption, its prime minister said. (Straits Times)

Beyond the hullabaloo, how has the new Nigerian president’s anti-corruption fight gone in its first 100 days? His campaign manager faces allegations; he penned an official rebuttal against the allegations. (BusinessDay, Premium Times, Guardian)

Taiwan said it received around $6.74 million from Swiss authorities that were illicit gains of former Taiwanese president Chen Shui-bian. (CNA)

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