corruption Archives - Panorama Insurance Brokers

Petrofac Fined $105m; Shares Rally Further

By John Lee. Shares in Petrofac were trading up more than 7 percent on Monday, as the company was ordered to pay GBP 77 million [$105 million] after the UK’s Serious Fraud Office (SFO) secured further convictions in its investigation into bribery and corruption at the Jersey-registered energy services company. On Friday, Petrofac Limited pleaded… Read More

Petrofac Shares Jump following Iraq Bribery Plea Agreement

By John Lee. Petrofac shares closed the day up more than 26 percent on Friday, after the company announced that it has reached a plea agreement with the UK Serious Fraud Office (SFO) in relation to bribery in Iraq, Saudi Arabia and the UAE. The Company indicated guilty pleas to seven counts of failing to… Read More

Baghdad hosts Conference on Recovery of Looted Funds

By John Lee. An international conference on the recovery of looted funds has just concluded in Baghdad. The conference was organised by Iraq’s Commission of Integrity, and was attended by Prime Minister Mustafa al-Kadhimi; the Secretary-General of the Arab League, Ahmed Abul Gheit; ministers, judges and other officials. Praising the efforts of anti-corruption bodies, the… Read More

Iraq’s Latest Corruption Convictions …

By John Lee. Iraqi courts have recently sentenced several people regarding corruption in office: The Central Criminal Court has issued two judgments six years in prison against Bahaa Alaa Abd and Ali Saleh Hadi, due to the offense of interference of the first person to appoint the second in the position of Director General of… Read More

UK issues Sanctions against former Governor of Nineveh

By John Lee. The United Kingdom has issued sanctions against a number of individuals, including a former Governor of Nineveh province in Iraq. Nawfal Hammadi Al-Sultan is alleged to have misappropriated public funds intended for reconstruction efforts, and to have improperly awarded contracts and other state property. He is currently serving a five-year prison sentence… Read More

New Program to Counteract Financial Crime in Iraq

New program to help counteract serious financial crimes in Iraq The United Nations Development Programme (UNDP) in Iraq, in partnership with the United States Government and the Supreme Judicial Council of Iraq has launched a multi-year training initiative today, to strengthen and improve complex organized and financial crime investigations in Iraq. The training program, called… Read More

Iraq Automates Customs Service to Reduce Corruption

By Salam Zidane for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraq automates its customs service to reduce corruption at border crossings The Iraqi government has taken several new initiatives to fight corruption, from automating border crossings, arresting corrupt figures… Read More

Politically Sanctioned Corruption and Barriers to Reform in Iraq

By Toby Dodge and Dr Renad Mansour, for Chatham House. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Politically sanctioned corruption and barriers to reform in Iraq This paper explores the pernicious effects of politically sanctioned corruption on governance in Iraq. This type of… Read More

Iraq unveils massive Anti-Corruption Project

By Joe Snell for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraq unveils massive anti-corruption project Following remarks from Iraqi President Barham Salih [Saleh] (pictured), who admitted on Sunday that Iraq has lost $150 billion since 2003 to corruption, a… Read More