Welcome to the July 2017 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.
- Supreme Court rules that five year statute of limitations applies to disgorgement in SEC enforcement cases
- Linde receives public declination through the FCPA Pilot Program
- Former Swiss banker pleads guilty to money laundering charge in connection with soccer bribery scheme
- US to reinstate certain Cuba sanctions
- US broadens civil forfeiture claims targeting allegedly misappropriated Malaysian assets
- Federal judge orders suppression of evidence gathered in improper search
- US Senate votes to impose new sanctions on Iran
- US Senate approves Russia sanctions amendment
- New legal framework on the recovery of criminal proceeds
- Multi-billion dirham investment scam affects 3,700 customers
- Computer programmer jailed
- $5 million stolen from company owner in fraud scheme
- Former chief secretary and property tycoon lose appeal in Hong Kong's highest profile corruption case
- Chief executives under investigation by ICAC
- Small bribes to bank staff result in ICAC charges
- LegCo gazette two bills on AML/CTF
CHINA, SOUTH EAST ASIA & INDIA
China
- New Cyber Security law comes into force
- New rule requires reporting of Chinese bank cards' overseas transactions
- Former Chairman of China Resources sentenced to 14 years' imprisonment
- Multiple government officials sentenced for corruption
Singapore
- Former senior executive fined
Malaysia
- No gift policy introduced in the workplace
- Fraudulent investment scheme under investigation
South Korea
- Ex-president's accomplice receives first sentence
- Former health minister sentenced for abuse of power
Vietnam
- Vietnam joins BEPS
Indonesia
- Three Air Force personnel named in investigation
- Bank of Indonesia works with Attorney General's Office to fight banking crime
India
- New rules to speed up corruption investigations against government employees
- E-market place under scrutiny
Japan passes new "anti-conspiracy" law
- Australian Government plans to introduce new laws protecting whistleblowers
- Momentum to establish a federal anti-corruption agency builds
- AUSTRAC working as part of project to uncover beneficial owners of offshore companies and trusts
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