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Sanctioned Countries, Corruption, and Illicit Fund Flow: Navigating a Global Minefield - Dbriefs Poll Responses

Conducting business globally today involves many potential fraud and corruption risks that require the full attention of companies, from CEOs to analysts. Which countries are banned by U.S. policy, likely rampant with corruption, and may welcome dirty money?

During the Transactions and Business Events Dbriefs, “Sanctioned Countries, Corruption, and Illicit Fund Flow: Navigating a Global Minefield," held on December 4, 2013, David Williams, Chief Executive Officer of Deloitte Financial Advisory Services LLP, and Alison Clew, principal, Deloitte Financial Advisory Services LLP, were joined by Jamie Boucher, partner, Skadden, Arps, Slate, Meagher & Flom LLP; James Dinkins, executive associated director, Homeland Security Investigations, ICE, Department of Homeland Security; and John Leonard, director, Deloitte Financial Advisory Services LLP.  The presenters discussed:

  • Navigating the complex U.S. sanctions regulations that apply to Iran, North Korea, and other banned countries.
  • Identifying corruption hot spots and doing business with political officials.
  • Rooting out trade-based money laundering and other illicit flows of funds.

Poll results

Attendees of the live webcast on December 4 responded to the following poll questions.

What line of business is your company engaged in?

Which of the following sanctions issues have you experienced?

Which country ranks as less corrupt than the United States on Transparency International's Corruption Index?

Which factor do you consider to be the most important in assessing the risk of a third party intermediary (TPI)?

Which commodity do you think is most used in trade-based money laundering (TBML)?

The statements in this report reflect our analysis of survey respondents’ responses and are not intended to reflect facts or opinions of any other entities.  All survey data, charts and statistics referenced and presented, as well as the representations made and opinions expressed, unless specifically described otherwise, pertain only to the participating organizations and their responses to the Deloitte survey.

This publication contains general information only and is based on the experience and research of Deloitte practitioners.  Deloitte is not, by means of this publication, rendering accounting, business, financial, investment, legal, tax or other professional advice or services.  This publication is not a substitute for such professional advice or services, nor should it be used as a basis for any decision or action that may affect your business.  Before making any decision or taking any action that may affect your business, you should consult a qualified professional advisor.  Deloitte, its affiliates, and related entities shall not be responsible for any loss sustained by any person who relies on this publication.

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