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Tue 07 September 2010

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Forensic Focus
Latest scandal turns up the heat on cricket bosses [L]
The latest cricket corruption scandal has unleashed questions that go beyond the current crisis facing the game, writes Legalbrief.

South Africa
Special deal for Zimbabwe migrants to end [L]
A special deal granted to thousands of Zimbabweans, who were allowed to enter SA without documents, will stop at the end of year, a Cabinet spokesperson said yesterday.

R68m audit bill but SAA wastage went unchecked [L]
SAA paid R68m to auditing firm Ernst & Young over the past four years to scrutinise its books and check waste and fruitless expenditure, but the auditing failed to detect gross wastage of SAA money by Ngqula, says a report in The Times.

Top cop resigns amid probe of R4bn contracts
Deputy National Police Commissioner Hamilton Hlela and two of his subordinates have resigned in the middle of a probe involving contracts totalling more than R4bn in his department, says a report in the The Sunday Independent.

Ex-director sued for R12m in alleged 'fake' wines scam [L]
One of SA's biggest wine companies is suing its former export director for R12m and has laid criminal charges against him over an alleged eight-year fraud that saw him sell 'fake' wines to overseas clients under its name.

R1bn in contracts bypass eThekwini procurement system
The eThekwini municipality has misused supply chain management policy to award more than R1bn in contracts to select companies in the past financial year, says a report on the IoL site.

Gallo loses SCA copyright case [L]
Climate change green paper before year end - Minister
NGOs slam King III for failure to consult [L]
No tears as bantustan law is repealed [L]
Zuma takes flak over Oilgate probe
Telkom takes flak for poor performance [L]
Now MK vets accuse SABC board over corruption
HSBC faces King obstacle over Nedbank deal [L]
Rules flouted, says North West Premier
North West unable to probe fraud allegations [L]

This Week's Analysis
Poverty poses a greater threat than corruption - analyst [L]
Poverty, unemployment and rising food prices pose a greater economic threat to SA than corruption, analyst Shawn Hagedorn warns in a report on the Moneyweb site.


Africa
Ex-Minister in court over alleged embezzlement
A court in Niger has charged ex-Finance Minister Ali Lamine Zene with corruption for suspected embezzlement and has released him on bail, says the politician's lawyer.

Ex-Defence Minister charged with corruption [L]
Botswana's Government has charged its former Defence Minister with corruption, says a report on the News24 site. It says a court in Gaborone charged Ramadeluka Seretse yesterday for failing to disclose his position as a shareholder in a company that was awarded a government contract.

Uganda Revenue Authority loses sh283m ($124 313)
Four charged with ripping off taxman [L]
Kenyans jailed in US over $3m scam
Call for corruption probe as councillors ousted [L]
Ex-bank chief get $12m bail
Alleged fraud at Ghana Ministry of Health [L]
Calls to indict Benin President over Ponzi rejected
Man held over alleged fraudulent land deals [L]
Bid to ensure stolen funds are recovered
Ministry's budgets under the microscope [L]

World
Troubled bank gives Afghanistan the jitters
The Afghan Government intervened to shore up a deeply troubled bank on Tuesday, sending shock waves through the capital Kabul and prompting fears that Afghanistan's pervasive corruption had now put the country's entire financial system at risk, reports The New York Times.

Barclays adviser paid $10m in Lehman Bros deal
Michael Klein, the respected former Citigroup banker, was paid $10m to advise Barclays on its purchase of Lehman Brothers' US brokerage at the height of the credit crunch.

Scrapping FSA will create 'accountability gap', UK banks warn [L]
Britain's largest banks are warning the Coalition Government that its shake-up of financial regulation risks creating an 'accountability gap'.

Bonus furore sees fall in bankers' pay
The average pay of top bankers in the US and Europe fell by nearly 60% in 2009 amid a furore over bonuses.

Businessman gets 12 years for $53m fraud
Top Russians on banks' blacklist [L]
Mining group in bribery scandal [L]
£34m fraud accused returns to UK after 17 years [L]
Scammers take small amounts to evade detection
Texan billionaire brothers deny SEC charges [L]
US challenged over corrupt use of aid money
Olmert faces indictment over alleged corruption [L]
Public urged to report oil spill fraud cases
One-time Jamaican high flier indicted over alleged $200m fraud [L]
Apple manager arrested for accepting kickbacks [L]
HP probed over alleged bribes for contract
UK warns of tax fishing scam [L]
Commonwealth Games scandal to be probed [L]
Trojan fleeces online bankers


  


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The KPMG Report
KPMG Ethics Hotline gets EthicSA recognition
With corporate governance being at the top of mind for most organisations today, protecting those that come forward is of utmost importance. In this spirit KPMG South Africa has, for over ten years, maintained an anonymous Ethics Hotline to allow KPMG clients and employees to report potential or suspected violations of ethical standards or applicable laws and regulations.


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