Welcome to the September 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 below. Below we provide a brief overview of what is covered in each update.
- HMRC updated anti-money laundering guidance for money service businesses
- UK decides not to adopt US-style whistleblower rewards
- Bruce Hall £3 million confiscation order paid in full
- Innospec executives sentenced in corruption case
- JMLSG consults on amendments to guidance
- Ukraine sanctions update – recent developments in UK, EU and US
- Further EU restrictive measures against Russia
- GlaxoSmithKline faces fresh drug bribery claims in Syria
- SFO launches formal investigation of UAE bribery claims at Sweett Group
- Owners of large Russian travel agencies accused of fraud
- Managing Director of oil company will face trial for €200,000 commercial bribery charges
- SFC reprimands and fines Ping An of China Securities (Hong Kong) Company Limited $6 million over internal control failures
- Hong Kong loses bid to appeal limits to anti-bribery laws
- SFC v Ernst & Young (E&Y): E&Y produces audit working papers in Hong Kong and appeals over disclosure order on documents held in China
China, South East Asia & India
China
- China's ex-security chief under investigation
- More than 25,000 probed for corruption in China in the first half of 2014
- Chief of the Communist Party's United Front Work Department in Inner Mongolia given life sentence
- China launches global 'fox hunt' for corrupt officials
India
- Alstom charged with corruption in India
- India vows war against healthcare corruption
- Eleven officials from food and drug administration suspended for taking bribes
Taiwan
- Ex-prosecutor jailed for corruption in Taiwan
Thailand
- Thailand's Anti-Corruption Commission has recommended criminal charges against ousted PM
Indonesia
- Ex-Alstom executive pleads guilty to bribing Indonesian government officials
- Former deputy governor of Indonesia's central bank sentenced to ten years for corruption
Singapore
- Ex-business director of ST Electronics (Info-Software) Systems convicted of corruption
Pakistan
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Smith & Wesson fined US$2 million for bribing Pakistani police
Vietnam
- Vietnam sets up 11 teams to scrutinise anti-corruption activities
Laos
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Almost US$150 million lost due to corruption in Laos
Myanmar
- Myanmar to strengthen corruption commission
- Further charges brought against JTC employees in respect of alleged payments to government officials in Uzbekistan and Indonesia
- €98 million of assets seized from Nomura international following allegations of fraud on the local government of Sicily
- Coalition government establishes fraud and anti-corruption
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