Welcome to the June 2014 edition of our corporate crime update - our round up of developments in relation to corruption, money laundering, fraud, sanctions and related matters. Our update now covers a number of jurisdictions. For the full update on each jurisdiction, please click on the name of the jurisdiction/region below.
- New UK transparency laws
- Serious Crime Bill and Anti-Corruption Plan
- UK convicts nine in £70 million boiler room fraud
- Two more guilty in Innospec conspiracy trial
- Bureaux de change owner jailed for laundering over £100 million
- FATF targeted financial sanctions experts' meeting
- Statement on UK/Iran relations
- Russia/Ukraine notice to exporters - changes to OGEL
- Russia/Ukraine: Further sanctions
- Ukrainians challenge EU sanctions
- Quarterly report on the operation of the Terrorist Asset-Freezing etc. Act 2010
- Amendments to the FC guide: Banks' control of financial crime risks in trade finance
- JMLSG guidance for money service businesses
- FCA anti-money laundering thematic review
- Commission request for technical advice on MAR
- The International Tax Compliance (United States of America) Regulations 2014
- FCA fines bank £26 million in respect of benchmark related failings
- Corporate Crime and Investigations Conference
- Kuwait opposition declares war against corruption
- Egyptian court clears former Mubarak minister Habib el-Adly
- Qatar World Cup probe backed by sponsor Sony
- Ex-member of the board of directors of EBRD receives five year suspended sentence
- Prosecutor's General Office of Russia prepares anti-corruption draft law
- The Court of First Instance ordered Ernst & Young to produce accounting records to the SFC (SFC v Ernst & Young, HCMP 1818/2012)
- Biggest corruption trial in Hong Kong history began
- FATCA coming to Hong Kong
China, South East Asia & India
China
- Over 10,000 officials have been investigated for corruption between January and March 2014
- China may try to extradite corrupt officials from the U.S.
- China focus on corruption in the army
- The former head of GSK China charged with corruption
- Roche's Hangzhou office visited by anti-corruption authorities
- Senior energy officials are under investigation for corruption
- Two executives of PetroChina's overseas businesses are under investigation
- China's Ministry of Industry and Information has a "zero tolerance" policy in relation to corruption
- Two officials of China's top anti-corruption authority are under investigation
Thailand
- Former Prime Minister indicted for corruption
Indonesia
- Religion Minister resigns after being named a corruption suspect
India
- The Central Bureau of Investigation can now investigate high level officials for corruption without prior permission
- Canadian businessman sentenced for bribery to Air India
Laos
- Laos' state officials are required to declare their assets
Vietnam
- Vietnam promises to take more action against corruption
- Four Railway officials have been arrested and a Japanese company banned from bidding for three years
Taiwan
- Deputy Chief of Taoyuan County was detained for taking bribes
Pakistan
- Former Prime Minister was arrested for corruption
- Japan to focus on anti-bribery mechanisms for Official Development Aid following bribery claims in Vietnam
- Reforms give ICAC power to police government ministers
- Senate votes against the establishment of a federal anti-corruption body
- Securities and Exchange Commission brings first whistleblower anti-retaliation case
- Drop in Market Value of Companies Subject to FCPA Investigations
- Admission of Liability Not Required for Approval of Settlement with SEC
- Conflict Minerals Disclosures Required By the SEC May Trigger Sanctions Liability
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Disclaimer
The articles published on this website, current at the dates of publication set out above, are for reference purposes only. They do not constitute legal advice and should not be relied upon as such. Specific legal advice about your specific circumstances should always be sought separately before taking any action.