Trafigura Group Pte. Ltd., a multinational commodities trading group, has announced its intention to reduce the number of third parties engaged by the company. In particular, the company will not enter any new agreements with third parties for business development purposes, and will end all agreements with such third parties by October 2019. Trafigura will continue to use consultants in other sectors, such as security, risk analysis and operations.
According to Trafigura, on December 5, 2018, the Brazilian police visited its Rio de Janeiro offices as part of the Operation Car Wash investigation. The company stated that the suggestion that its current management knew that payments to an intermediary would be used to make improper payments to employees of the Brazilian state-owned petroleum company is not correct, and that the company has a zero tolerance policy on bribery and corruption.