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Unearthing money laundering at Brazilian oil giant Petrobras
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| Zeitschriftentitel: | Journal of Money Laundering Control |
|---|---|
| Personen und Körperschaften: | , |
| In: | Journal of Money Laundering Control, 22, 2019, 2, S. 400-406 |
| Format: | E-Article |
| Sprache: | Englisch |
| veröffentlicht: |
Emerald
|
| Schlagwörter: |
| author_facet |
Maragno, Lucas Borba, José Alonso Maragno, Lucas Borba, José Alonso |
|---|---|
| author |
Maragno, Lucas Borba, José Alonso |
| spellingShingle |
Maragno, Lucas Borba, José Alonso Journal of Money Laundering Control Unearthing money laundering at Brazilian oil giant Petrobras Law General Economics, Econometrics and Finance Public Administration |
| author_sort |
maragno, lucas |
| spelling |
Maragno, Lucas Borba, José Alonso 1368-5201 1368-5201 Emerald Law General Economics, Econometrics and Finance Public Administration http://dx.doi.org/10.1108/jmlc-03-2018-0027 <jats:sec> <jats:title content-type="abstract-subheading">Purpose</jats:title> <jats:p>This paper aims to provide an overview of key points pertaining to financial crimes taking place during the single largest fraud scandal in Brazilian history. The authors provide details on how the historic fraud was carried out at Petrobras, as well as an overview of recent anti-money laundering regulation in Brazil.</jats:p> </jats:sec> <jats:sec> <jats:title content-type="abstract-subheading">Design/methodology/approach</jats:title> <jats:p>The paper is based on an analysis of the scandal and on legal ramifications enacted by the prevailing Public Ministry taking place through the “Lava Jato” operation.</jats:p> </jats:sec> <jats:sec> <jats:title content-type="abstract-subheading">Findings</jats:title> <jats:p>Fraud perpetrators continue to find new ways to move laundered money into campaign finance. The authors provide details on how the scheme was perpetrated at the placement, layering and integration stages.</jats:p> </jats:sec> <jats:sec> <jats:title content-type="abstract-subheading">Research limitations/implications</jats:title> <jats:p>This study comprehends the first stage of the Federal Police’s operation, comprising 14 allegations of financial crimes.</jats:p> </jats:sec> <jats:sec> <jats:title content-type="abstract-subheading">Practical implications</jats:title> <jats:p>A disconnect between regulations in effect and the reality of money laundering in Brazil over several years has failed to impede numerous cases of fraud. However, changes in legislation have allowed state agents to discover cases of fraud, with more and more wrongdoings being investigated.</jats:p> </jats:sec> <jats:sec> <jats:title content-type="abstract-subheading">Originality/value</jats:title> <jats:p>The Petrobras fraud, individual experiences of organized financial crime and a widespread lack of understanding of how to detect and prevent fraud on this scale.</jats:p> </jats:sec> Unearthing money laundering at Brazilian oil giant Petrobras Journal of Money Laundering Control |
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10.1108/jmlc-03-2018-0027 |
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Journal of Money Laundering Control |
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| title |
Unearthing money laundering at Brazilian oil giant Petrobras |
| title_unstemmed |
Unearthing money laundering at Brazilian oil giant Petrobras |
| title_full |
Unearthing money laundering at Brazilian oil giant Petrobras |
| title_fullStr |
Unearthing money laundering at Brazilian oil giant Petrobras |
| title_full_unstemmed |
Unearthing money laundering at Brazilian oil giant Petrobras |
| title_short |
Unearthing money laundering at Brazilian oil giant Petrobras |
| title_sort |
unearthing money laundering at brazilian oil giant petrobras |
| topic |
Law General Economics, Econometrics and Finance Public Administration |
| url |
http://dx.doi.org/10.1108/jmlc-03-2018-0027 |
| publishDate |
2019 |
| physical |
400-406 |
| description |
<jats:sec>
<jats:title content-type="abstract-subheading">Purpose</jats:title>
<jats:p>This paper aims to provide an overview of key points pertaining to financial crimes taking place during the single largest fraud scandal in Brazilian history. The authors provide details on how the historic fraud was carried out at Petrobras, as well as an overview of recent anti-money laundering regulation in Brazil.</jats:p>
</jats:sec>
<jats:sec>
<jats:title content-type="abstract-subheading">Design/methodology/approach</jats:title>
<jats:p>The paper is based on an analysis of the scandal and on legal ramifications enacted by the prevailing Public Ministry taking place through the “Lava Jato” operation.</jats:p>
</jats:sec>
<jats:sec>
<jats:title content-type="abstract-subheading">Findings</jats:title>
<jats:p>Fraud perpetrators continue to find new ways to move laundered money into campaign finance. The authors provide details on how the scheme was perpetrated at the placement, layering and integration stages.</jats:p>
</jats:sec>
<jats:sec>
<jats:title content-type="abstract-subheading">Research limitations/implications</jats:title>
<jats:p>This study comprehends the first stage of the Federal Police’s operation, comprising 14 allegations of financial crimes.</jats:p>
</jats:sec>
<jats:sec>
<jats:title content-type="abstract-subheading">Practical implications</jats:title>
<jats:p>A disconnect between regulations in effect and the reality of money laundering in Brazil over several years has failed to impede numerous cases of fraud. However, changes in legislation have allowed state agents to discover cases of fraud, with more and more wrongdoings being investigated.</jats:p>
</jats:sec>
<jats:sec>
<jats:title content-type="abstract-subheading">Originality/value</jats:title>
<jats:p>The Petrobras fraud, individual experiences of organized financial crime and a widespread lack of understanding of how to detect and prevent fraud on this scale.</jats:p>
</jats:sec> |
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| author | Maragno, Lucas, Borba, José Alonso |
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| description | <jats:sec> <jats:title content-type="abstract-subheading">Purpose</jats:title> <jats:p>This paper aims to provide an overview of key points pertaining to financial crimes taking place during the single largest fraud scandal in Brazilian history. The authors provide details on how the historic fraud was carried out at Petrobras, as well as an overview of recent anti-money laundering regulation in Brazil.</jats:p> </jats:sec> <jats:sec> <jats:title content-type="abstract-subheading">Design/methodology/approach</jats:title> <jats:p>The paper is based on an analysis of the scandal and on legal ramifications enacted by the prevailing Public Ministry taking place through the “Lava Jato” operation.</jats:p> </jats:sec> <jats:sec> <jats:title content-type="abstract-subheading">Findings</jats:title> <jats:p>Fraud perpetrators continue to find new ways to move laundered money into campaign finance. The authors provide details on how the scheme was perpetrated at the placement, layering and integration stages.</jats:p> </jats:sec> <jats:sec> <jats:title content-type="abstract-subheading">Research limitations/implications</jats:title> <jats:p>This study comprehends the first stage of the Federal Police’s operation, comprising 14 allegations of financial crimes.</jats:p> </jats:sec> <jats:sec> <jats:title content-type="abstract-subheading">Practical implications</jats:title> <jats:p>A disconnect between regulations in effect and the reality of money laundering in Brazil over several years has failed to impede numerous cases of fraud. However, changes in legislation have allowed state agents to discover cases of fraud, with more and more wrongdoings being investigated.</jats:p> </jats:sec> <jats:sec> <jats:title content-type="abstract-subheading">Originality/value</jats:title> <jats:p>The Petrobras fraud, individual experiences of organized financial crime and a widespread lack of understanding of how to detect and prevent fraud on this scale.</jats:p> </jats:sec> |
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| spelling | Maragno, Lucas Borba, José Alonso 1368-5201 1368-5201 Emerald Law General Economics, Econometrics and Finance Public Administration http://dx.doi.org/10.1108/jmlc-03-2018-0027 <jats:sec> <jats:title content-type="abstract-subheading">Purpose</jats:title> <jats:p>This paper aims to provide an overview of key points pertaining to financial crimes taking place during the single largest fraud scandal in Brazilian history. The authors provide details on how the historic fraud was carried out at Petrobras, as well as an overview of recent anti-money laundering regulation in Brazil.</jats:p> </jats:sec> <jats:sec> <jats:title content-type="abstract-subheading">Design/methodology/approach</jats:title> <jats:p>The paper is based on an analysis of the scandal and on legal ramifications enacted by the prevailing Public Ministry taking place through the “Lava Jato” operation.</jats:p> </jats:sec> <jats:sec> <jats:title content-type="abstract-subheading">Findings</jats:title> <jats:p>Fraud perpetrators continue to find new ways to move laundered money into campaign finance. The authors provide details on how the scheme was perpetrated at the placement, layering and integration stages.</jats:p> </jats:sec> <jats:sec> <jats:title content-type="abstract-subheading">Research limitations/implications</jats:title> <jats:p>This study comprehends the first stage of the Federal Police’s operation, comprising 14 allegations of financial crimes.</jats:p> </jats:sec> <jats:sec> <jats:title content-type="abstract-subheading">Practical implications</jats:title> <jats:p>A disconnect between regulations in effect and the reality of money laundering in Brazil over several years has failed to impede numerous cases of fraud. However, changes in legislation have allowed state agents to discover cases of fraud, with more and more wrongdoings being investigated.</jats:p> </jats:sec> <jats:sec> <jats:title content-type="abstract-subheading">Originality/value</jats:title> <jats:p>The Petrobras fraud, individual experiences of organized financial crime and a widespread lack of understanding of how to detect and prevent fraud on this scale.</jats:p> </jats:sec> Unearthing money laundering at Brazilian oil giant Petrobras Journal of Money Laundering Control |
| spellingShingle | Maragno, Lucas, Borba, José Alonso, Journal of Money Laundering Control, Unearthing money laundering at Brazilian oil giant Petrobras, Law, General Economics, Econometrics and Finance, Public Administration |
| title | Unearthing money laundering at Brazilian oil giant Petrobras |
| title_full | Unearthing money laundering at Brazilian oil giant Petrobras |
| title_fullStr | Unearthing money laundering at Brazilian oil giant Petrobras |
| title_full_unstemmed | Unearthing money laundering at Brazilian oil giant Petrobras |
| title_short | Unearthing money laundering at Brazilian oil giant Petrobras |
| title_sort | unearthing money laundering at brazilian oil giant petrobras |
| title_unstemmed | Unearthing money laundering at Brazilian oil giant Petrobras |
| topic | Law, General Economics, Econometrics and Finance, Public Administration |
| url | http://dx.doi.org/10.1108/jmlc-03-2018-0027 |