Welcome to the February 2015 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/region, please click on the name of the jurisdiction/region below. Below we provide a brief overview of what is covered in each update.
United Kingdom
- Proposed amendments to the Proceeds of Crime Act 2002
- Former hedge fund head sentenced to 13 years
- HP Autonomy investigation
- Cyber security boost for UK firms
- The Money Laundering (Amendment) Regulations 2015
- UK printing company and two men found guilty in corruption trial
Europe
- European Parliament answers to questions on MLD IV and CRD IV
- Council invites COREPER to endorse MLD IV and WTR
- EU extends sanctions relating to Crimea and Sevastopol and European Commission issues guidance on existing Russian sanctions
- EU introduces new asset freezing measures against Yemen
- Advances on steps to reform the Spanish Criminal Code
- UAE named the least corrupt country in the Middle East
- Alstom SA agrees to pay US$772 million to end investigation into bribes paid to win power-plant contracts in the Middle East and Indonesia
- Saudi Arabia among world's worst for 'dirty money' flows
- PCPD issues "Guidance on Personal Data Protection in Cross-border Data Transfer"
- HKMA's new initiatives on AML & CFT
- SFC brought its first legal action against a short seller
- Property tycoon and former chief secretary jailed in Hong Kong's highest level corruption trial
- Hong Kong regulator warns on cybersecurity risks
- ICAC raided Guotai Junan International office and director's home
China, South East Asia & India
China
- China to set up permanent anti-corruption offices in central government and party departments
- Woman bribing the former railroads minister sentenced to 20 years
- Two senior officials at China Unicom under investigation for corruption
- Interim regulations on real property registration issued
- China to cooperate with US, Canada, Australia and France to track down corrupt officials
- Zhou Yongkang expelled from CCP and face prosecution
- Former Vice president of COSCO sentenced to 10 years in prison
- Ling Jihua under investigation for serious disciplinary violations
- Executive at Nissan joint venture under investigation
- Chinalo's ex-chief expelled from the party for bribery
Thailand
- Thailand prince divorced his princess whose family is under corruption investigation
- CEO of Thailand's Wind Energy arrested amid graft scandal
Cambodia
- Five firms signed non-corruption agreement with Cambodia's Anti-Corruption Unit (ACU)
- Cambodia slightly improves in corruption ranking
India
- New anti-corruption bill awaiting approval by the Indian parliament
- 1,199 corruption cases filed this year, highest in ten years
South Korea
- State auditor to request disciplinary actions against Navy Chief
- New anti-corruption bill vetoed by legislature
Indonesia
- Former minister interrogated for BLBI scandal
Malaysia
- Laws to be amended to deal with corrupt business dealings in private sectors
- Heavier penalties to be given to bribers
Pakistan
- Court rejected acquittal pleas of former president in corruption cases
Vietnam
- Japan and Vietnam to strengthen cooperation to fight corruption in ODA projects
Singapore
- Former executives at ST Engineering charged with bribery and fraud
Myanmar
- Supreme Court unveiled three-year plan to reform graft-plagued judicial system
- Bank of Tokyo-Mitsubishi UFJ to pay US$315 million to New York Department of Financial Services
- Further Japanese companies implicated in U.S. DOJ investigation into automotive parts industry
- ANZ traders implicated in possible manipulation of bank bill swap rate
- Eddie Obeid stripped of his Order of Australia medal
- Independent Commission Against Corruption (ICAC) in High Court appeal
- Department of Justice imposes US$772 million criminal penalty on Alstom S.A.
- US Federal Appeals Court vacates insider trading convictions of hedge fund traders
- OFAC expands sanctions against Russia and North Korea
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