The September 2013 edition of our Corporate Crime Update covers developments in relation to corruption, money laundering, fraud, sanctions and related matters across a number of jurisdictions. For the full update on each jurisdiction, please click on the name of the country/region. A brief overview of what is covered in each country's update is set out below.
- FCA fines bank for anti-money laundering failings
- The FCA’s financial crime priorities
- FCA mobile banking and payments thematic review
- Calculation of "criminal property": Court of Appeal orders confiscation of profit earned by company on corruptly obtained contract
- High Court finds SFO not barred from giving disclosure of third-party documents obtained under compulsory powers
- New SFO joint head of bribery and corruption
- David Green speech to Cambridge Symposium
- SFO brings first Bribery Act prosecution
- Olympus charged by SFO
- Lloyd's of London invests in City of London Insurance Fraud Enforcement Department
- Market abuse update
Europe
- Updated sanctions notices
- Recent sanctions developments: EU relaxes certain Syrian sanctions and amends measures relating to North Korea, Iran and Tunisia; US relaxes Myanmar sanctions
- Prisoners to be released following error by former Minister of Justice
- Cooperation between French and Swiss Police in corruption investigation
- The New Spanish Criminal Code clamps down on corruption
- UAE central bank circular issued on anti-money laundering
- Amendments made to DFSA Rulebook
China, South East Asia & India
China
- Member of the Central Committee under scrutiny as target in series of graft investigations
- Former Security Tsar Zhou Yongkang investigated for corruption
- Two investigators arrested for selling personal information about Chinese citizens to corporate clients
- Petrochina's shares fall following corruption probe
- Guangdong's top China mobile executive sacked and detained for investigation
- Eli Lilly latest pharmaceutical company to face bribery allegations
- Bo Xilai Awaits verdict
Indonesia
- Head of Indonesia's oil and gas regulator arrested on allegations of bribery
Cambodia
- Cambodian police complete training on combatting financial crimes
Myanmar
- Myanmar passes first anti-corruption Bill
Vietnam
- Bribe-givers granted immunity in Vietnam
- Special teams established to monitor anti-corruption work
Philippines
- New draft bill seeks to include casinos in the coverage of the Anti-Money Laundering Act
Singapore
- General manager of manufacturing company convicted of corruption
Malaysia
- Preliminary talks on legislation making company directors liable for staff corruption
Taiwan
- Taipei City councillor Lai Su-Ju on trial for accepting bribes relating to Twin Towers
Pakistan
- Microsoft accused of authorising firm to pay for government official trip
- Japan's SESC seeks biggest ever fine against non-Japanese company
- ASIC announces renewed focus on insider trading
- Trader guilty of fraud
- Review of World Bank sanctions system
- DOJ/ SEC continue investigation into Microsoft
Disclaimer
Herbert Smith Freehills LLP has a Formal Law Alliance (FLA) with Singapore law firm Prolegis LLC, which provides clients with access to Singapore law advice from Prolegis. The FLA in the name of Herbert Smith Freehills Prolegis allows the two firms to deliver a complementary and seamless legal service.