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Efforts to launder money and finance terrorism have been evolving rapidly in recent years in response to heightened countermeasures. The international community has witnessed the use of increasingly sophisticated methods to move illicit funds through financial systems across the globe and has acknowledged the need for improved multilateral cooperation to fight these criminal activities. This second edition is to serve as a single, comprehensive source of practical information for countries to fight money laundering and terrorist financing. It discusses the problems caused by these crimes, the specific actions countries need to take to address them and the role international organizations play in the process. The report is organized as follows: Part A of this Reference Guide describes the problem of money laundering and terrorist financing, their adverse consequences, and the benefits of an effective regime. It also identifies the relevant international standard-setting organizations and discusses their specific efforts and instruments that fight these activities. Part B describes the various elements that are part of a comprehensive legal and institutional framework for anti-money laundering and combating the financing of terrorism for any country. This part of the Reference Guide is a step-by-step approach to achieve compliance with international standards, although it does not dictate the specific methods or actions to be adopted. Rather, it raises the issues that must be addressed and discusses the options that a country has in order to resolve these issues. Part C describes the role of the World Bank and International Monetary Fund (IMF) in the global effort and the coordination of technical assistance available to countries in order to help them achieve compliance with international standards. Each chapter is a self-contained discussion of the topics covered in that chapter with detailed references to background and original source materials. Annexes I, II and III provide complete citations to reference materials.

To test whether firms behave consistently with international law prohibiting anonymous incorporation, we conducted a global audit study and field experiment, using data from 1639 incorporation firms in 176 countries. We requested anonymous incorporation and randomly assigned references to international law, threat of penalties, norms of appropriate behavior, or a placebo. We find a substantial number of firms willing to flout international standards and show that those in OECD countries proved significantly less compliant with rules than in developing countries or tax havens. Firms in tax havens displayed significantly greater compliance and were sensitive to experimental interventions invoking international law.

This article provides an empirical study on effects of diversity management and inclusion on organisational outcomes. The importance of diversity management and inclusion on organisation is of immense benefit especially in a Multinational Corporations, where diversity and inclusion are parts of their core values. However, in our context, which had been identified as the most diverse country in Africa, there is need to establish how the management and inclusion of these diverse workforce would benefit organisational activities, coupled with the fact that, there is dearth of research on these constructs in extant literature. This study investigated the effects of diversity management and inclusion on organisational outcomes (job satisfaction and job performance) among Shell Corporation employees. Pen and paper questionnaire of 384 copies were administered to the Lagos Branch employees of Shell Corporation. Cross-sectional research design was adopted. Confirmatory Factor Analysis (CFA), convergent and divergent validity, correlational analysis, and structural equation model were used for the analysis. The findings showed positive effect of diversity management and inclusion on employees’ job satisfaction and employees’ job performance. It implies that diversity management and inclusion have the potentials of assisting organisation in creating a climate in which employee will like to work harder with readiness to continue to work with the organisation.

This article provides an empirical study on effects of diversity management and inclusion on organisational outcomes. The importance of diversity management and inclusion on organisation is of immense benefit especially in a Multinational Corporations, where diversity and inclusion are parts of their core values. However, in our context, which had been identified as the most diverse country in Africa, there is need to establish how the management and inclusion of these diverse workforce would benefit organisational activities, coupled with the fact that, there is dearth of research on these constructs in extant literature. This study investigated the effects of diversity management and inclusion on organisational outcomes (job satisfaction and job performance) among Shell Corporation employees. Pen and paper questionnaire of 384 copies were administered to the Lagos Branch employees of Shell Corporation. Cross-sectional research design was adopted. Confirmatory Factor Analysis (CFA), convergent and divergent validity, correlational analysis, and structural equation model were used for the analysis. The findings showed positive effect of diversity management and inclusion on employees’ job satisfaction and employees’ job performance. It implies that diversity management and inclusion have the potentials of assisting organisation in creating a climate in which employee will like to work harder with readiness to continue to work with the organisation.

The combination of corporate-community conflicts and oil transnational corporations' (TNCs) rhetoric about being socially responsible has meant that the issue of community development and poverty reduction have recently moved from the periphery to the heart of strategic business thinking within the Nigerian oil industry. As a result, oil TNCs have increasingly responded to this challenge by adopting partnership strategies as a means to contribute to poverty reductions in their host communities as well as secure their social licence to operate. This paper critically examines the strengths and weaknesses of the different community development partnership (CDPs) initiatives employed by Shell, Exxon Mobil and Total to contribute to poverty reduction within their host communities in the Niger Delta, Nigeria. Drawing on empirical data and critical analysis, the paper argues that while the CDP initiatives by SPDC, MPN and EPNL have the potential to contribute to community development, the failure to integrate negative injunction duties into existing partnerships means that the partnerships make no difference to how oil TNCs conduct their core business operation. Consequently, CDPs have had limited positive impact on poverty reduction in the Niger Delta. The paper concludes by examining the implications of the emerging issues for partnership and poverty reduction.

Foreign direct liability litigation against businesses is still a growing trend in European domestic courts, going on for over two decades.1 With absent effective remedies in host states, victims of human rights abuses committed by transnational corporations’ subsidiaries try to get access to remedy in the courts of the home states of the parent companies. A crucial factor for whether such cases can succeed, is the viability of the claims against the parent companies allegedly involved in the abuses. The principal legal route that victims have used to hold parent companies liable is through common law negligence claims.

Major oil spills normally occur from oil pipelines and oil tankers that are under operational control of companies, namely, oil companies and tanker owners. There are two generic responses for changing the behavior of companies with regard to oil spill prevention: mandatory government regulation or voluntary initiatives often pursued under the banner of Corporate Social Responsibility (CSR). Here we investigate to what extent voluntary CSR initiatives can be effective in oil spill prevention. A global perspective on voluntary mechanisms is taken by looking at the progress of 20 oil and gas firms from around the world toward oil spill prevention, using the companies’ 2010 sustainability reports for self-reported oil spill information. The analysis includes ten oil companies from OECD countries (including Exxon and Shell, among others) and 10 oil companies from non-OECD countries (including Brazil’s Petrobras and Indian Oil, among others). The study finds that oil spill prevention has generally improved over recent decades. Government regulation played a significant part in these improvements whereas it is less clear to what extent CSR played a significant part in these improvements. Some of CSR’s key limitations are highlighted. It is not suggested that CSR should be abandoned; however, new hybrid forms of regulation that combine voluntary and mandatory elements are advocated.

Shell companies are simple creatures: they exist on paper, have no physical place of business, and allow for a litany of fraud. Often used for legal purposes, shell companies have increasingly been used to facilitate crime, hide ownership, and threaten U.S. national security. The Corporate Transparency Act (CTA) is a notable step toward illuminating obfuscated corporate ownership, but various loopholes allow creative bad actors to circumvent its requirements. While the Act will likely deter such bad actors, resourceful nation-states have the means to defeat its protections. Nevertheless, the CTA will likely resolve many of the issues involving contractors using shell companies to conceal relationships with subcontractors, circumvent origin eligibility rules, and disguise other conflicts of interest. Here, defrauding the U.S. government will be more difficult. However, foreign adversaries interested in exploiting the U.S. defense supply chain may engage in complex ownership arrangements that do not trigger reporting under the CTA. This Article prescribes several solutions to mitigate these loopholes, including (1) amending the definition of “beneficial owner” under the CTA; (2) providing additional funds to States and Indian Tribes to require reporting to FinCEN as a requirement of company registration; and (3) increasing the severity of penalties associated with the CTA.

PurposeThe purpose of this paper is to use a hybrid account of oil spills in Nigeria to explore the recursive relationship between a multinational company, specific shareholders and the public. A response to Mr and Mrs Shareholders’ concerns is considered an exercise in corporate discursive hegemony and enacts rhetorical accountability.Design/methodology/approachThe authors adopt Debord’s (1967, 1988) concept of the spectacle with Boje’s (2001) antenarrative approach as a critical postmodern framing of Shell’s narrative of oil spills in both local and global contexts. An antenarrative approach considers how stories are woven to produce a unified and omnipotent narrative or image.FindingsMNCs face considerable uncertainties arising from the operational conditions in developing countries and produce a range of accounts for spectators. As theatrical events, they contribute to the spectacle of power that rationalises controversy and suppresses resistance.Research limitations/implicationsTo overcome the limitations of using a single document as empirical material the authors consider the response letter as an example of an institutional framing of oil spill phenomena in general.Social implicationsBy understanding the construction of the spectacle the authors open avenues for resistance to corporate discursive hegemony in the form of carnivalesque.Originality/valueThe paper adds to the understanding of hybrid forms of resistance in an era of increasing MNC power and reach. It demonstrates how the actual production and distribution has persuasive power as a form of rhetorical accountability.

This paper examines some of the paradoxes and dilemmas facing firms in the extractive sector when they attempt to take on a more stakeholder-responsive orientation towards issues of environmental and social responsibility. We describe the case of Shell and the Ogoni and attempt to draw out some of the lessons of that case for more sustainable operations in the developing world. We argue that firms such as Shell, Rio Tinto and others may well exhibit increasingly stakeholder-responsive behaviours at the corporate, strategic level. However for reasons of strategy, lack of competency or institutional will this increasing level of corporate responsiveness may not be mirrored effectively in dealings between subsidiary business units and their most important direct stakeholders: for example local communities and in the developing world. We contrast the struggles of Shell to replicate its corporate stakeholder-responsiveness at the local level in Nigeria with the experiences of other firms that seem to have developed managerial capabilities at a somewhat deeper level throughout the firm with consequent benefits both for stakeholders and the business.