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29 March 2017 Corruption & Governance Watch


$20bn in dodgy transfers from Russia exposed

As MPs demanded answers over the delay in closing accounts of the politically connected Gupta family because of suspicious transactions (see reports below), banks in the UK and continental Europe are dealing with the fallout over a massive global money ... Read More

South Africa

Absa delay in closing Gupta bank accounts explained

Absa had every right to wait 15 months before it closed down the accounts of Gupta-owned companies‚ Reserve Bank Deputy Governor Kuben Naidoo stressed in Parliament yesterday (Wednesday), according to a TimesLIVE report. It notes Naidoo said the law did ... Read More

State blacklists employees over business interests

Hundreds of employees of the Eastern Cape Health Department have been issued with final warnings after failing to declare their business interests, notes a TimesLIVE report. It says the businesses and the employees were discovered through an investigation and have ... Read More

Whistle-blower Citibank doesn't have to disclose revenue

CitiBank did not have to disclose the revenue of its local currency trading operation at a competition authority hearing on the forex collusion scandal, according to a BusinessLIVE report which notes the Competition Tribunal held a hearing in Pretoria yesterday ... Read More

Policy Watch

Changes proposed for JSE conflict of interest rules

Conflict of interest arrangements in JSE rules for derivatives, equities, interest rates and currency derivatives are likely to be affected by proposed amendments focusing on a restructured committee system. It will be managed by the institution’s director for market ... Read More


Rest of Africa

IT expert charged with stealing $39m from taxman

An IT expert has been charged with hacking into Kenya’s Revenue Authority and stealing $39m, according to a BBC News report which says Alex Mutungi Mutuku (28) is accused of electronic fraud but he denies any wrongdoing. The prosecution ... Read More

War criminal Bemba sentenced for bribing witnesses

Former Congolese Vice-President Jean-Pierre Bemba was yesterday (Wednesday) sentenced to one year’s imprisonment for bribing witnesses in his main trial before the International Criminal Court (ICC), and ordered to pay a $323 640 fine. A report on the News24 ... Read More

Angola brushes aside firm’s $50m bribery admission

Activists are pushing for action over the admission by Brazilian conglomerate Odebrecht that it paid $50m in bribes to secure business in Angola. But, notes a report on the TimesLIVE site, activists says the authorities in Angola, described by global ... Read More


Brazil rocked by meat corruption probe

Already reeling from the multibillion-rand Operation Carwash money laundering and corruption scandal, Brazil, one of the world’s largest red meat exporters, faces a new bribery and corruption scandal as evidence emerged that meat-packers had been selling rotten and substandard ... Read More

Top corruption prosecutor hired to probe Trump

The state of New York has appointed a leading corruption prosecutor to investigate Donald Trump and his administration, according to a report in The Independent. It says Eric Schneiderman, the state’s Attorney General and an outspoken critic of the ... Read More

South Korea’s ousted President grilled in graft probe

South Korean prosecutors interrogated former President Park Geun-hye for 14-hours on Tuesday as they probe a series of charges including bribery, abuse of power and coercion and leak of government secrets levelled against her, according to a report in the ... Read More


* Disbarred Durban attorney Ian Stokes – convicted of stealing more than R5.7m of his friends' money from a trust account – was sentenced to in effect six years in jail by the KZN High Court (Durban) yesterday (Wednesday). Read More

* Warrants of arrest have been issued for eight people implicated in defrauding the Buffalo City Municipality of R15m. The group, including municipal officials and company directors, failed to turn themselves over last week to face fraud and corruption charges in ... Read More

* Investment group MICROmega said it would lodge an appeal with the Financial Services Board in a bid to oppose a fine imposed by the JSE. MICROmega – chaired by businessman Dave King – was censured and fined R1m, of which R0.5m ... Read More