ARE FINANCIAL INSTITUTIONS LIABLE FOR FINANCIAL CRIME UNDER THE ALIEN TORT STATUTE?

The article discusses on financial institutions as a liable factor for financial crime under the Alien Tort Statute (ATS) of the U.S. Code. Topics include the United Nations' convention against corruption, the Organization for Economic Co-operation and Development's (OECD) convention on combating bribery of foreign public officials in international business transaction and the World Bank Sanctions Board's involvement in the global condemnation of financial fraud.