Welcome to the October 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.
- AFDB debars UK company for fraudulent practices
- SFO Director's speech at Cambridge Symposium on Economic Crime
- SFO General Counsel speech at Cambridge Symposium on Economic Crime
- Reporting by extractive companies on government payments – Early UK implementation from 1 January 2015
- FCA removes high risk countries list
- NCA announcement on seeking consent for financial transactions
- EU expands sectoral sanctions against Russia
- Andorra's courts will provide banking information to Spanish courts only in certain circumstances
- Amendments to DIFC Regulatory Law 2004 come into force
- GlaxoSmithKline faces fresh bribery claims in Syria
- Saudi municipality workers arrested for US$ 1.7m bribery scam
- Report on World Cup bidding finalised
- Further development in landmark corruption trial in Hong Kong
- ICAC raid Jimmy Lai's house
- Solicitor and wife of former dairy firm director convicted of money laundering for mishandling funds for NZ dairy takeover
China, South East Asia and India
China
- China investigates the former Deputy General Manager of Faw-Volkswagen Automotive or suspected serious violations of the law
- China investigates top official of Yunnan Province
- China's anti-corruption investigations target CCTV
- China’s antigraft campaign expands to Shanxi Province
- Chinese GMO researcher investigated for corruption
- Retired Chinese official in charge of prices investigated for corruption
- NDRC fines Japanese auto-parts makers for price-fixing
India
- India reviews state hospitals to end widespread corruption
38,000 railway officials punished for corruption - Chief of Indian bank arrested over bribery allegations
- Indian film censor accused of soliciting bribe
Thailand
- Thailand's new Prime Minister promises to crack down on corruption
- Bangkok city council chairman charged with bribery
Indonesia
- Indonesia's Energy Minister investigated for corruption
- Indonesian female Governor jailed for corruption
- Indonesia's President named in corruption case
Cambodia
- Cambodia crackdown on corruption in the education sector
- Prime Minister of Cambodia blames private sector for corruption
- Cambodia and Thailand signed an anti-corruption cooperation deal
Vietnam
- Consultants indicted in Japan for paying bribes in Vietnam
- Vietnam trade official suspended for suspected corruption
Malaysia
- MACC solved 82% of investigation papers last year
Singapore
- Singapore shares anti-corruption experiences with Vietnam
Taiwan
- Taiwan water corp. ex-chairman charged with corruption
- Over half of Keelung's city councillors questioned in corruption case
Korea
- Three lawmakers face bribery charges
- Korea Development Bank officials probed for bribery
- US$52.1 million criminal fine imposed by the US department of justice on NGK spark plug co. Ltd for conspiracy to fix prices and rig bids
- Enhanced measures in respect of violation of Japan's unfair competition prevention act relating to official development aid
- IBAC investigation threshold to be lowered
- Calls for Federal Anti-Corruption Agency
- Highest ever SEC whistleblower bounty awarded
- The fiduciary exception to attorney-client privilege
- The meaning of "Foreign Officials" under The Foreign Corrupt Practices Act
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.