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On the Money Trail - Jan. 27

Source: Thomson Reuters Foundation - Mon, 27 Jan 2014 16:18 GMT
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‘Cashgate’ scandal could cost Malawi’s president...

LILONGWE  – It  is the biggest financial scandal in Malawi's history, affecting the country's relations with donors and causing outrage among Malawians, the BBC reports.  And with elections in May this year, the ‘cashgate’ scandal could cost President Joyce Banda and her People's Party votes. Some government officials have allegedly been exploiting a loophole in a computer-based financial information storage system to divert millions from government coffers, the BBC said. It is estimated that up to $250m (£150m) may have been lost through alleged fraudulent payments to businessmen for services that were not rendered, the broadcaster added.

U.S. chief corruption prosecutor heads in-house...

WASHINGTON – The head of the Foreign Corrupt Practices Act (FCPA) team at the U.S. Department of Justice will join the DC office of Morrison & Foerster, the international law firm announced. As the head of DOJ's FCPA Unit, Charles Duross was in charge of all of DOJ's FCPA investigations, prosecutions and resolutions in the United States from April 2010 through his departure from the DOJ on January 24, 2014, Morrison & Foerster said.

Breaking the corruption taboo...

WASHINGTON – A senior official at the World Bank explains in a blog why there is no longer a reluctance to talk about the role of corruption within the development community and discusses how that shift came about.

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