Welcome to the October 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. Below we provide a brief overview of what is covered in each update.
- FCA investigations up by 75 per cent
- FCA warns against ICOs and bitcoin investors
- FinTech increases the risk of failure in bank compliance and AML
- Future Partnership Paper on Foreign policy, defence and development: including proposals for co-operation on sanctions, cyber security, and the defence and security industries
- Criminal Finances Act 2017 provisions come into force
- SFO speech on DPAs
- SFO secures seven convictions in F.H. Bertling Limited corruption case
- SFO charges ex-chief executive officer and chief operating officer of Afren
- ESAs finalise guidelines to prevent terrorist financing and money laundering in wire transfers
- EU public prosecutor for fraud to be established
- NCA: SARs annual report 2017
- DOJ orders divestitures in €350 million SDK and SGL merger
- EU fines Scania €880 million over emissions price-fixing cartel
- Deutsche Börse AG agrees to pay €10.5 million in fines
- Company seeks final approval of $21 million
- Germany opens ZITiS cyber surveillance agency
- UK seeks assistance from Dubai police to fight organised crime
- Trader on trial for possessing over $925,000 believed to be the proceeds of illegal practices
- Duo accused of stealing over $172,000 from local bank using forged documents
- Banker jailed for embezzling funds in Dubai
- Potential sanctions imposition pursuant to US Administration's new strategy on Iran
- US revokes Sudan sanctions
- OFAC fines US company for facilitating sales from Canada to Sudan
- SEC settles with Alere over FCPA and accounting fraud violations
- OFAC fines US company for shipping jewellery to SDN based in Hong Kong
- Telia and Uzbek subsidiary enter into a global settlement for corrupt payments in Uzbekistan
- Former Hong Kong leader Donald Tsang in high-profile bribery retrial
- Independent Commission against Corruption launches ethical governance training
- Herbert Smith Freehills guide on dealing with dawn raids
CHINA, SOUTH EAST ASIA & INDIA
China
- China shuts down cryptocurrency exchanges and bans ICOs
- China to cooperate with IAP to locate corrupt fugitives overseas
- Executives sentenced to life imprisonment for $7 billion Ponzi scheme
- BRICS countries to strengthen anti-corruption cooperation
- China issues guidelines to curb money laundering, terrorism financing and tax evasion
Vietnam
- Prosecutors call for death penalty in Ocean Bank case
Indonesia
- New regulations issued to curb money laundering
- Second Indonesian judge sentenced for corruption
South Korea
- South Korea taking measures to regulate electronic currencies
Malaysia
- Four senior officials arrested for embezzling government funds
India
- India named most corrupt country in APAC region
- JA announces an official has embezzled around JPY94 million
- Businesses and academics weigh in on FSA discussions on auditor rotation regime
- Three men jailed for foreign bribery offences
- Parliamentary Joint Committee proposes widespread reform to whistleblowing legislation
- Australia and China sign protocol to strengthen cooperation in police work and combating transnational crime
- Engineering company restricted from participation in World Bank projects
- Victorian public servant jailed for conspiracy to defraud and for secret commission offences
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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.