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The purpose of this study is provide a critical overview of compliance with anti-money laundering and combating the financing of terrorism, insider trading and anti-corruption laws in Russia.

The mixed approach for this article will be used with some elements of grounded theory. The method used includes the following: observations, various interviews and analysis of legal documents and other primary sources.

Russian regulatory compliance has a tremendous pressure and significant challenges for both regulators and regulated banks and organizations. It is a moment when Russia could become a more developed country and play a bigger role in international arena or come back to the past time.

The article is based on my practical experience and PhD research observations.

Individuals and organizations will exhaust all available gains from trade and the resulting allocation of resources will be efficient when allocation will reflect accurately society's opportunities and preferences – including preferences related to individuals' ethical standards. Which behaviours are ethical and which are unethical? International society due to globalization has to develop and establish common ethical principles of behaviour in social life taking into account religion and world civilization. The basic values of humans and life as creation have to be identical all over the world, which means that human behaviour should be similar all over the world. So, similar actions should be ethical or unethical similarly all over the world and principles established by different kinds of societies should not alter the basis of values of life and humanity.

This chapter deals with the question of how anti-corruption norms can emerge in authoritarian or semi-authoritarian regimes that actively suppress social dissent and protest. The chapter examines the capacity of Russian opposition movements to create a sustained anti-corruption discourse and to shape political governance. When it comes to addressing corruption through social action in the context of Russia, the situation does not often seem conducive to concerted opposition activity. Nevertheless, even though opposition movements repeatedly fail to impact political decision-making or elite practices, they are not exercises in futility. The chapter concludes that the anti-corruption discourse can be effectively utilized by the Russian opposition movements to unite its efforts and vocalize their demands in terms of democratic governance norms. Continually repressive governmental measures are creating dangerous public spaces, where massive and violent confrontations are increasingly likely to occur. As the opposition continues to find its voice, challenge elite corruption and vocalize its desires for democratic governance norms, the continuing demands for policies to be reflective of public interest (rather than interests of the powerful elites) will not abate. The anti-corruption discourse can play a powerful unifying role for the opposition given the endemic nature of corruption in today’s Russia.

This paper aims to examine the present Sri Lankan political-economic crisis and its connection to corruption. The paper will discuss the autocratic rule, elite domination of state extractive systems, which have been moulded and configured by Sri Lanka’s political environment over decades. Elite capture has become a significant factor. Sri Lanka’s authoritarian model exercised by Gotabaya Rajapaksa reduced competitive mode and shifted towards a monopolistic corruption structure, centralising on the first family and military rule where powerful elites supported the model. The paper attempts to find the connection between dysfunctional political model and economic crimes committed through several case studies.

The paper discusses five case studies using qualitative analysis using secondary data. The insider trading case study is discussed with quantitative data. Several political and social analyses were carried out with primary data captured from field research by the author.

Sri Lankan economic crisis was triggered because of high-level corruption. The autocratic model introduced by the political authority failed to fight corruption. Transnational mechanisms will fail if there is no credibility and commitment in their own respective nations such as in the USA. External factors such as China in Sri Lanka did have an impact for elite capture.

This study is limited only to five case studies. Transnational mechanism and recommendations require a lengthy study. Only one external factor was assessed because of its significance; there could be other external factors for elite capture.

This study has limited access to capture primary data because of sensitivity during a heavy autocratic regime. Because of state and self-censorship, secondary data had to be tested.

Economic crisis in Sri Lanka is an example to many developing nations fighting corruption. The autocratic family rule supported by external forces crippled the state anti-corruption processes. Economic crime is a key driver for poverty and economic crisis.

This is a unique paper that examines Sri Lanka’s present economic crisis and its political model and economic crime. The paper will discuss transnational mechanisms for anti-corruption and attempt to apply to the Sri Lankan crisis.

Foreign whistleblowers are foreign citizens who help national enforcement authorities to sanction both foreign-based corporations and home-based corporations that engage in economic crime. This paper aims to investigate the expansion of US law in the area of transnational economic crime by discussing the case of foreign whistleblowers.

This paper has been developed from a literature review carried out as part of a wider study into policing international bribery.

This paper shows that extraterritorial application of US whistleblowing laws is part of a broad trend associated with extraterritorial enforcement of US anti-corruption statutes such as the Foreign Corrupt Practices Act (FCPA). The extraterritorial reach of the FCPA and other statutes allowed the USA to become the leader in sanctioning US corporations as well as non-US corporations for economic crime. In effect, some US enforcement practices have become the standard that has influenced law and law enforcement in other countries as well as internal compliance of corporations.

In spite of the profound impact foreign whistleblowing has on the effectiveness of national anti-corruption enforcement, this topic has been largely neglected by academic research. To the best of the authors’ knowledge, this paper is the first to provide an overview of the role of foreign whistleblowers and the significant impact foreign whistleblowing has for legal reform in European countries and internal compliance of corporations in Europe and beyond.

In recent years the divide between areas of law, which have hitherto been perceived, in most systems of jurisprudence, as relatively and mutually distinct, has narrowed and in some instances all but disappeared. This tendency is perhaps no more dramatically illustrated than in, which for a better description, might be termed the area of financial regulation. When the present author started teaching a course in the University of Cambridge on financial services regulation in 1979, the perception among those of his colleagues who regarded such things, was that this formed part of the corpus of corporate law. Of course, this analysis is only partly justified, and beyond the area of corporate finance law is misconceived. On the other hand, the commercial lawyers, who — at least in Cambridge, have been regarded or perhaps more accurately tolerated, as being a little more academically respectable than pure corporate lawyers, were distinctly unsympathetic to the notion that financial services law is in part akin to banking law and therefore a subject more suited to mercantile law. Given the author's predilection to weigh more heavily those aspects of the law that are protective of society, rather than facilitative of enterprise, it is not surprising that he ventured more and more into the realm of prohibitions, sanctions and even the criminal law. Take for example, the abuse of price sensitive information obtained by those in a confidential position, by virtue of that privileged relationship, to trade on the basis of that information in corporate securities — in other words, insider dealing. Is this properly regarded as a matter for the traditional law relating to directors and officers, and thus, company law, or given the fact that most countries today seek to curb such activity on the basis that it harms confidence in the integrity of public markets, a matter of public, and in particular criminal law? While such a debate may appear somewhat academic, even if it does result in the demarcation of courses and the like, it can and occasionally does have a very real practical significance. For example, in some jurisdictions, such as the USA, the Federal Legislature is competent to legislate on matters pertaining to international trade and finance, and thus the protection of the markets, but not matters of traditional company law. On the other hand, it has been contended in jurisdictions such as Canada that given the uncertainty attaching to the Federal Legislature's competence in regard to the financial markets, it is better to consider insider abuse as a matter of company law. Similar issues arise in the context of the competence of specific organs of the European Union and, of course, are not uncommon in the demarcation of competence between domestic agencies, whether of law reform or enforcement.

The purpose of this paper is to determine whether anti‐money laundering measures are capable of providing a solution to the growing problem of public sector corruption in Iraq and, if so, the extent to which changes are required to the current Iraqi AML regime to enhance its effectiveness against such corruption.

This paper will initially explore the growing problem of public sector corruption in Iraq and the measures taken to address such corruption. Subsequently, the corruption‐money laundering relationship and the ability of AML measures based on prevailing international standards to serve as an anti‐corruption tool will be analysed. Finally, the current Iraqi AML regime will be examined to observe whether and to what extent changes are required to enhance its effectiveness against public sector corruption.

Considering the widely acknowledged nexus between corruption and money laundering, a robust AML regime can be effectively utilised by Iraq to combat endemic public sector corruption. This regime must involve a system where financial institutions at their own expense monitor transactions and file suspicious transaction reports with the Iraqi Money Laundering Reporting Office. This, in turn, must identify cases from those suspicious transaction reports that require further investigation by Iraqi anti‐corruption bodies and other law enforcement authorities, who should be empowered to investigate, freeze, seize and confiscate the suspected corrupt proceeds. Such a regime would provide a clear avenue for the obtaining of financial intelligence capable of exposing corruption, thereby addressing the fundamental issue presently encountered by Iraqi anti‐corruption bodies. Amendments are, however, needed to Iraqi anti‐money laundering laws to enhance their effectiveness in combating public sector corruption. Most importantly, financial institutions must be required to apply enhanced customer due diligence measures to domestic politically exposed persons.

This paper is a result of a remote analysis of material published in relation to the subject matter of the paper. Local and regional analysis (e.g. including interviews with the relevant agencies) would be required to confirm the practicality of the propositions made in the paper. Further, the draft version of the revised Iraqi anti‐money laundering law was not examined in an in depth manner due to the uncertainty in its status, including, in particular, whether it has been submitted to the Council of Representatives for approval.

Although the topics of corruption in Iraq, the Iraqi AML regime and the corruption‐money laundering relationship have been the subject of academic analysis, the related topics have not collectively been examined to determine whether, and to what extent, the Iraqi AML regime can address the rapidly growing problem of public sector corruption in Iraq. Accordingly, the findings in this paper will be of interest to Iraqi lawmakers, Iraqi law enforcement agencies, Iraqi financial institutions and investors in Iraq, particularly in the oil and gas industry.

This study aims to examine the participation of the Parliament of Tanzania in the fight against corruption in the country.

A desk-based research approach based on the review of documents and legal instruments was used.

The results of this study show that the Parliament of Tanzania has a chequered performance in fighting corruption. While it has passed several anti-corruption-related laws and in some respects succeeded to hold a few government officials accountable for the abuse of public office, there is little evidence to demonstrate its contribution at fighting this conundrum. Factors contributing to this deficiency include irresponsiveness to corruption allegations involving Members of Parliament, parliament’s remote oversight of the anti-corruption agency and shrinking democratic space in the parliament.

Tanzania has relatively high corruption levels. The country’s Development Vision 2025 envisages a nation free of corruption. Hence, efforts are needed from public and private sectors to overcome this conundrum. The parliament holds a special place in that fight. Through its representation, legislative and oversight roles and powers, parliament has a wider opportunity to strengthen anti-corruption in the country. This study shows that the Parliament of Tanzania has not been very effective in that regard. It offers suggestions to strengthen the parliament’s position and engagement to fight corruption.

There is scanty literature on the role of the Parliament of Tanzania in fighting corruption. This study is seminal, as it investigates the Tanzanian anti-corruption arsenal from a crucial organ that is vested with constitutional powers to make laws and oversee the executive and its agencies.

As a consequence of the proposal of the Carbon Neutral and Carbon Peak policy in 2020, the Chinese Government is paying more attention to developing sustainability performance. This study aims to assess the direct influence of country-level and corporate anti-corruption measures on environmental, social and governance (ESG) and its three dimensions, besides ascertaining the moderating role of firm size.

This study used the system generalized method of moments on a sample of 820 Chinese listed firms from 2012 to 2021.

The findings show that country-level and corporate corruption negatively affect ESG performance. Corporate anti-corruption measures have a more pronounced positive influence on the sustainability performance of small firms than large firms due to the limited resources, lower political position and weaker refusal power of small firms.

The study has great implications for governments, corporate boards and ESG rating agencies. Government and corporate boards should mitigate the risks of country-level and corporate corruption to attain sustainable development goals. Rating agencies should add country-level and corporate corruption into the ESG evaluation system.

Some empirical results have proven that anti-corruption measures help reduce the emission of carbon dioxide, but few evidence shows how country-level and corporate corruption affect ESG and its three dimensions.

The study aims to construct a cross-firm corporate governance index to predict firm performance. The index consists of 15 governance elements from a large sample of the Indonesian firms covering the period from 2003 to 2013.

This study presents robust results as the findings are tested by applying the generalized method of moments (GMM) estimator to eliminate endogeneity problems and unobservable heterogeneity posed by the relationship between performance and firm-level governance practices.

The results indicate that the corporate governance index is associated with enhanced corporate financial performance. Likewise, the findings reported under the pooled ordinary least squares and GMM also indicate corporate governance sub-indexes (elements), which have significant effects on performance: whistleblower mechanism, audit quality, board of director size and blockholders.

In the emerging market context, this study supports the notion that active and self-regulated governance practices are appreciated by the market and, in the end, can have a positive impact on financial performance. The analysis adds to the empirical literature by providing insights into how governance provisions are being actively implemented in the micro level. With regard to weak governance practices, this study is consistent with previous studies, according to which, firms have the opportunity to use corporate governance as a way of differentiating themselves from other players in countries with poorly regulated investor protection and institutional settings.

This study makes a positive contribution, as it looks at the impact of Indonesia’s corporate governance compliance on the basis of a set of 15 unique governance provisions, including the findings of the positive influence of corporate governance in family business.