JPMorgan Memo Warned of Nigeria Bribery Risk Days Before Payment – Bloomberg

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JPMorgan Chase & Co. was warned by its compliance team over the “great risk” of corruption just days before it made the last of three transfers that totaled $875 million to a former Nigerian oil minister.
The internal memo is set to be scrutinized in a London lawsuit brought by the West African nation. The U.S. bank is accused of ignoring red flags when it transferred funds between 2011 to 2013 from government accounts to Dan Etete, who had been convicted of money laundering.

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