TOPIC: Due diligence

    bank due diligence

    February 13th, 2017

    U.S. Treasury: “Zero Tolerance” is not the standard for bank due diligence

    By John Mintz

    In recent months the IMF, World Bank and other institutions warned that global banks were being so tough in their anti-money laundering and due-diligence campaigns that some small economically weak nations were virtually banished from the worldwide banking system. In response, the U.S. Treasury replied that it never intended an overly punitive “zero tolerance” regime. IMF […]

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    November 28th, 2016

    A case that led the FBI to warn, “do your due diligence when thinking about investing…”

    By John Mintz

    TOPICS: Due diligence

    Some background checking might have unveiled a decade-long Ponzi scheme in California that defrauded almost 200 people and institutions.  In 2014, Deepal Wannakuwatte of Sacramento pled guilty to fraud and other crimes in a case involving $230 million he fraudulently obtained between 2002 and 2014, according to federal court documents and Justice Department news releases.  […]

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    October 13th, 2016

    Tougher anti-bribery due-diligence coming

    By John Mintz

    International companies are gearing up for the publication in coming days of the final version of a new set of anti-corruption best practices recently agreed to by a global panel.  Officials of the U.S., the U.K., and dozens of other nations approved the International Organization for Standardization’s ISO 37001 draft anti-bribery standards.  The new rules require […]

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