No Result
View All Result
SUBSCRIBE | NO FEES, NO PAYWALLS
MANAGE MY SUBSCRIPTION
NEWSLETTER
Corporate Compliance Insights
  • Home
  • About
    • About CCI
    • Writing for CCI
    • NEW: CCI Press – Book Publishing
    • Advertise With Us
  • Explore Topics
    • See All Articles
    • Compliance
    • Ethics
    • Risk
    • FCPA
    • Governance
    • Fraud
    • Internal Audit
    • HR Compliance
    • Cybersecurity
    • Data Privacy
    • Financial Services
    • Well-Being at Work
    • Leadership and Career
    • Opinion
  • Vendor News
  • Career Connection
  • Events
    • Calendar
    • Submit an Event
  • Library
    • Whitepapers & Reports
    • eBooks
    • CCI Press & Compliance Bookshelf
  • Podcasts
  • Videos
  • Subscribe
  • Home
  • About
    • About CCI
    • Writing for CCI
    • NEW: CCI Press – Book Publishing
    • Advertise With Us
  • Explore Topics
    • See All Articles
    • Compliance
    • Ethics
    • Risk
    • FCPA
    • Governance
    • Fraud
    • Internal Audit
    • HR Compliance
    • Cybersecurity
    • Data Privacy
    • Financial Services
    • Well-Being at Work
    • Leadership and Career
    • Opinion
  • Vendor News
  • Career Connection
  • Events
    • Calendar
    • Submit an Event
  • Library
    • Whitepapers & Reports
    • eBooks
    • CCI Press & Compliance Bookshelf
  • Podcasts
  • Videos
  • Subscribe
No Result
View All Result
Corporate Compliance Insights
Home GRC Vendor News

Transparency International Scrutinizes Latin American Units of Companies Linked to Petrobras Scandal

by Corporate Compliance Insights
August 18, 2015
in GRC Vendor News
Transparency International Scrutinizes Latin American Units of Companies Linked to Petrobras Scandal

Transparency International, the global anti-corruption movement, announced today that it will look into the operations of Brazilian construction companies linked to the Petrobras scandal in seven countries: Argentina, Chile, Dominican Republic, Guatemala, Panama, Peru and Venezuela.

As investigations in Brazil continue to uncover links between major construction companies and corruption in Petrobras, Transparency International will look into whether the companies are following the same business model of bribe paying and cartel arrangements in other countries where they have significant operations.

For example, in Venezuela alone, four of the companies under investigation in Brazil received over 30 contracts from the government in recent years. A preliminary investigation by Transparencia Venezuela shows delayed contracts, opaque accounting and suspicion of political influence in the awarding of contracts worth millions.

Transparency International — through its national chapters in Argentina, Chile, Dominican Republic, Guatemala, Panama, Peru and Venezuela — is submitting access to information requests to those governments in order to review and analyze the contracts awarded to the companies in the last decade. In partnership with investigative journalists, Transparency International will identify potential irregularities in the coming weeks and verify the state of progress of the huge infrastructure projects associated with them.

These projects include transport systems, infrastructure for provision of basic services and others that have a direct impact on the quality of life of millions of families in Latin America. Citizens have a right to know about the progress of these construction works under development.

“The corruption scandal surrounding Petrobras is one of the biggest that we have seen in the region, not only because of the amounts of money involved and the linkages between the political and business elites, but also because of the damage this corrupt system did to the entire Brazilian society. Some brave Brazilian prosecutors and federal police officers, a judge and several journalists are now doing a tremendous effort to end impunity for the corrupt perpetrators. Transparency International wants to help ensure that those responsible face justice, be it in Brazil or elsewhere in the region,” said Alejandro Salas, Regional Director for the Americas at Transparency International.

If Transparency International’s research unearths irregularities, raises the suspicion of cartel arrangements or undue influence by politicians on the granting of contracts, we will provide all the information to the relevant authorities and call on them to open formal investigations and report publicly on their findings. Transparency International will also provide information to prosecutors where investigations are already taking place, such as in Peru and Brazil.

“All in all, we are asking for simple accountability. We don’t know what we will find, but given what the Petrobras scandal has revealed and the cost of the infrastructure projects, it is fair to demand transparency. We need systemic changes that will prevent such corruption scandals from happening again,” said Salas.

All of the seven countries have ratified the United Nations Convention Against Corruption, which includes provisions related to mutual legal assistance (art. 46) and joint investigations (art. 49), that obliges signatory states to cooperate internationally on cross-border corruption investigations.


Tags: Transparency International
Previous Post

The 5 Most Common AML Compliance Program Deficiencies

Next Post

Lessons Learned from the Nepal Crisis

Corporate Compliance Insights

Corporate Compliance Insights

Corporate Compliance Insights

Related Posts

Brazil's flag at sunrise

Brazil’s Falling Ranking in the Corruption Perceptions Index

by Patricia Punder
February 4, 2019

Transparency International recently released its annual Corruption Perceptions Index, and Brazil has fallen in the rankings. On its face, this...

The 2019 TRACE Bribery Risk Matrix Rankings for Asia-Pacific

The 2019 TRACE Bribery Risk Matrix Rankings for Asia-Pacific

by Wendy Wysong
December 21, 2018

New Data is Key to Anti-Bribery, Anti-Corruption Efforts TRACE International published an updated Bribery Risk Matrix earlier this month, and...

businessman holding stack of bills

The Costs of Corruption in the Public Sector

by Nellie Mayshak
July 30, 2018

When the Public Loses Faith Corruption in government is nothing new. And it’s not limited to nations and governments that...

person accepting bribe in a handshake

A Small Change for Asia-Pacific

by Wendy Wysong
March 27, 2018

Little Movement in Latest Transparency International Rankings Transparency International published its 2017 Corruption Perceptions Index (CPI) on February 21, 2018,...

Next Post
Lessons Learned from the Nepal Crisis

Lessons Learned from the Nepal Crisis

Compliance Job Interview Q&A

Jump to a Topic

AML Anti-Bribery Anti-Corruption Artificial Intelligence (AI) Automation Banking Board of Directors Board Risk Oversight Business Continuity Planning California Consumer Privacy Act (CCPA) Code of Conduct Communications Management Corporate Culture COVID-19 Cryptocurrency Culture of Ethics Cybercrime Cyber Risk Data Analytics Data Breach Data Governance DOJ Download Due Diligence Enterprise Risk Management (ERM) ESG FCPA Enforcement Actions Financial Crime Financial Crimes Enforcement Network (FinCEN) GDPR HIPAA Know Your Customer (KYC) Machine Learning Monitoring RegTech Reputation Risk Risk Assessment SEC Social Media Risk Supply Chain Technology Third Party Risk Management Tone at the Top Training Whistleblowing
No Result
View All Result

Privacy Policy

Founded in 2010, CCI is the web’s premier global independent news source for compliance, ethics, risk and information security. 

Got a news tip? Get in touch. Want a weekly round-up in your inbox? Sign up for free. No subscription fees, no paywalls. 

Follow Us

Browse Topics:

  • CCI Press
  • Compliance
  • Compliance Podcasts
  • Cybersecurity
  • Data Privacy
  • eBooks Published by CCI
  • Ethics
  • FCPA
  • Featured
  • Financial Services
  • Fraud
  • Governance
  • GRC Vendor News
  • HR Compliance
  • Internal Audit
  • Leadership and Career
  • On Demand Webinars
  • Opinion
  • Resource Library
  • Risk
  • Uncategorized
  • Videos
  • Webinars
  • Well-Being
  • Whitepapers

© 2022 Corporate Compliance Insights

No Result
View All Result
  • Home
  • About
    • About CCI
    • Writing for CCI
    • NEW: CCI Press – Book Publishing
    • Advertise With Us
  • Explore Topics
    • See All Articles
    • Compliance
    • Ethics
    • Risk
    • FCPA
    • Governance
    • Fraud
    • Internal Audit
    • HR Compliance
    • Cybersecurity
    • Data Privacy
    • Financial Services
    • Well-Being at Work
    • Leadership and Career
    • Opinion
  • Vendor News
  • Career Connection
  • Events
    • Calendar
    • Submit an Event
  • Library
    • Whitepapers & Reports
    • eBooks
    • CCI Press & Compliance Bookshelf
  • Podcasts
  • Videos
  • Subscribe

© 2022 Corporate Compliance Insights

Welcome to CCI. This site uses cookies. Please click OK to accept. Privacy Policy
Cookie settingsACCEPT
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT