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Combating money laundering by PEPs: the private sector and the reveal all approach

In: Combating Money Laundering in Africa

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Abstract

This chapter highlights the importance of the economic dimension in combating corruption and money laundering by African PEPs. Using the cases of Alstom S.A. and Airbus S.E., this chapter reviews the development of strategies designed to persuade companies to self-report their payment of bribes to African PEPs and their assistance in laundering the proceeds of crime. This with a view to reaching a deferred prosecution agreement with prosecutors involving a financial settlement but avoiding prosecution and the threat of debarment. The chapter then analyses the potential benefits for African countries of such agreements particularly through the identification of those domestic PEPs involved in the criminality and the prospect of becoming a party to global financial settlements with the companies.

Suggested Citation

  • ., 2020. "Combating money laundering by PEPs: the private sector and the reveal all approach," Chapters, in: Combating Money Laundering in Africa, chapter 13, pages 240-257, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:19179_13
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