MIKE MASOUD, CPA, CACM, CFE, MBA

2,827 Added | 1 Magazine | 50 Likes | 12 Following | 144 Followers | @THEAACI | Tehcnical and Advisory Director; Middle East and Africal; The American Anti-Corruption Institute ( AACI)

Guess Co-Founder to Step Away During Investigation Into Conduct

Executive Chairman Paul Marciano is also relinquishing his salary during the investigation<p>Guess? Inc. said Tuesday that co-founder Paul Marciano will relinquish his day-to-day responsibilities with the company and salary during a continuing investigation into recent allegations of improper …

Paul Marciano

Corruption funds to stay frozen until their recovery by Nigeria

HUNDREDS of millions of dollars embezzled by a Nigerian dictator and hidden in Jersey bank accounts is to remain frozen until it is recovered by the …

Corruption

Toshiba Gets Outsider CEO to Lead Revamp After Scandals, Losses

Toshiba Corp. is bringing in an outsider to lead the Japanese electronics maker battered by accounting scandals, record losses and divestment of …

IT

سيادة القانون: الفجوة ما بين الإرادة السياسية والتطبيق

إننا ومن موقع المراقب والخبير، لم نُفاجأ مطلقاً من غضب جلالة الملك عبد الله الثاني من النتائج الفعلية الملموسة للأوراق النقاشية الملكية وما حققته من …

Rabobank's California unit pleads guilty in money laundering case

Dutch lender Rabobank's California subsidiary agreed Wednesday to forfeit $369 million after a long-running investigation concluded the unit was used to launder millions of dollars in Mexican drug money.<p>The subsidiary, Rabobank National Assn., also pleaded guilty to one count of conspiracy to …

Corruption

3 ways Volkswagen has changed and 3 ways it hasn't since emissions scandal

DETROIT — In the aftermath of its global emissions scandal, Volkswagen Group has repeatedly pledged to change.<p>But has it? Yes and no.<p>The German automaker's executives proclaimed once again Monday at the Detroit auto show that they've changed for the better after the company admitted to rigging 11 …

U.S. Senate panel members urge changes to 'out of date' anti-laundering regime

NEW YORK (Thomson Reuters Regulatory Intelligence) - The U.S. Congress should mandate the collection of information about the true owners of corporations, law enforcement should share more information with banks to help spot criminals and artificial intelligence should be considered as a means to …

Surveillance

Whistle- blowing

Situationer<p>M. Ziauddin<p>Pakistan urgently needs a law providing protection to whistle-blowers against losing their job and prosecution.<br>Recognising the …

PwC barred from issuing audit opinions in India for two years

The Indian markets regulator has barred all of PricewaterhouseCoopers member firms in the country from issuing audit opinions to any listed company …

Using AI to Fight Crime: The Terrorism, Trafficking And Money Laundering Links

This article is the second in a series exploring the connection between money laundering and orchestrated global crime—including terrorism, trafficking, and large-scale corruption.<p>Artificially intelligent (AI) systems can programmatically process large volumes of transactional and financial data, …

Nonprofits

Executives Indicted for Fish Farm Investment Fraud

SIOUX FALLS, S.D. (AP) — Two executives of a company with plans to build an aquaponics farm in Brookings have been indicted on wire and mail …

China’s New Tack on Corruption Adds Risks for Foreign Firms

A legislative change due to take effect this spring will ramp up anti-bribery enforcement in China, raising the risks for foreign firms doing business there, said some attorneys with expertise in anti-bribery law. The government is setting up a National Supervision Commission to tackle corruption …

China

Fighting kleptocracy in London, a global capital for dirty money

<b>In a chic Kensington cafe, Roman Borisovich told WikiTribune that London is “the corruption capital of the world,” estimating that the city has the</b> …

Russia

The Board’s Anti-Corruption Intelligence – The American Anti-Corruption Institute (AACI)

December 26, 2017<p>As 2017 will be closing its chapter in few days, and 2018 has many fraud and corruption scandals looming on the horizon, I …

Panama Papers’ Revelations – The American Anti-Corruption Institute (AACI)

The AACI’s View<p>December 25, 2017<p>Panama Papers scandal is marked as the most significant leak of private financial data to the public in history. Even …

The Economist reveals its country of the year

EVERY Christmas since 2013 <i>The Economist</i> has picked a “country of the year”. Rogue nations are not eligible, no matter how much they frighten people. …

You Don't Need to Trade Securities to Commit Securities Fraud

Also dirty and clean bitcoin mining, sports investing, self-driving insurance and sabbaticals.<p><b>High-frequency trading.</b><p>Do U.S. stock exchanges rip off long-term investors by selling co-location and fast data feeds and complex order types to favored high-frequency traders who then can trade ahead of …

Cryptocurrency

How Deutsche Bank Enabled A Dirty Offshore Bank To Move Dark Money

The German giant processed hundreds of millions of dollars of suspicious transactions into the US for a Cyprus bank awash with dirty money linked to the Kremlin, Syrian chemical weapons, organised crime, and ISIS.<p>Deutsche Bank facilitated hundreds of millions of dollars of transactions for a …

Indonesia corruption court indicts ex-parliament speaker after delays

JAKARTA (Reuters) - Indonesian prosecutors charged a former parliament speaker on Wednesday in connection with a $170 million graft scandal after he held up proceedings for hours at the opening of his trial, saying he was ill.<p>Setya Novanto has been brought to trial by the Corruption Eradication …

Money Laundering Controls

WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) today announced an $8 million civil money penalty against Artichoke Joe’s, a California …

Follow the money: Here's how money laundering works

Special counsel Robert Mueller followed the money to file a criminal conspiracy and money laundering indictment against President Trump's former campaign manager Paul Manafort and his associate Richard Gates for activities predating their joining the campaign.<p>Simply put, money laundering is a …

New economic crime agency to crack down on £90bn-a-year UK money laundering

The Government has unveiled plans to create a new national economic crime centre to clamp down on money laundering, with a key focus on financial crime.<p>The new unit, which will sit within the National Crime Agency, will also target drug dealers and people traffickers.<p>The latest official figures …

Hackers hit U.S., Russian banks in ATM robbery scam: report

FRANKFURT (Reuters) - A previously undetected group of Russian-language hackers silently stole nearly $10 million from at least 18 mostly U.S. and Russian banks in recent years by targeting interbank transfer systems, a Moscow-based security firm said on Monday.<p>Group-IB warned that the attacks, …

HSBC draws line under Mexican cartel case after five-years on probation

LONDON (Reuters) - HSBC (HSBA.L) drew a line under its punishment for lapses in anti-money laundering controls on Monday, saying the U.S. Department of Justice (DoJ) would end its deferred prosecution agreement, lifting the threat of further penalties.<p>Europe's biggest bank paid a $1.9 billion fine …

Bitcoin is going mainstream. Here is what you should know about it.

Bitcoin has been giving the Republican tax plan a run for its money when it comes to who has been dominating the news over the past week.<p>As of Jan. 1, the cryptocurrency was trading at $960.79 per coin. Around 4 p.m. Monday, it was selling in the $11,500 range, an increase of more than 10 times in …

Cryptocurrency

Bureaucracy encouraging corruption in Ghana – Franklin Cudjoe

header() --><p>General News of Monday, 4 December 2017<p><b>Source:</b> www.ghanaweb.com<p>play videoFranklin Cudjoe, IMANI Ghana President<p>President of policy think …

Corruption, Misconceptions, Costs and Damages – The American Anti-Corruption Institute (AACI)

Misconceptions About Fraud and Corruption<p>The following is not an exhaustive list of misconceptions about fraud and corruption that is widely spread …

CACM Review: Sample Content, Q & A – The American Anti-Corruption Institute (AACI)

The CACM Review: Sample Content, Questions & Answers<p>Part 2: Fraud and Corruption<p>The following is a partial excerpt of part 2 accompanied by its …

The true story of the fake US embassy in Ghana

Last year, the US state department said it had uncovered a fake embassy in Accra that had been issuing a stream of forged visas. The story went viral – but all was not as it seemed. By Yepoka Yeebo<p>On Friday 2 December 2016, a curious story appeared on the website GhanaBusinessNews.com. “Ghana …

10% of drugs in poor countries are fake, says WHO

World Health Organization estimates tens of thousands of children die as a result of the $30bn spent on counterfeit drugs<p>An estimated one in 10 medicines in poor countries are counterfeit and likely responsible for the deaths of tens of thousands of children from diseases such as malaria and …