Welcome to the January 2018 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.
- Analysis of FCA fines in 2017
- SFO outlines tell-tale signs of money laundering
- Surge in financial sector fraud
- JMLSG makes further changes to AML/CTF guidance
- Increased complexity of cybercrimes in 2017
- FCA final notice for failure to disclose inside information under MAR
- Hacker imprisoned for two years after international cyber attacks
- EU Parliament and Council reach agreement on amending 4MLD
- EU urged to create European cybersecurity model
- Group-wide AML/CTF compliance: new obligations for firms with overseas branches and subsidiaries?
- German Federal Court of Justice: compliance management system can lead to reduction of a fine
- Germany investigates banks regarding dividend stripping
- German tax authorities target Chinese online retailers
- Deutsche Telekom calls on government to counter tech threats
- British suspect embezzles DH 1.4 million from Dubai-based businessman
- Duo imprisoned for attempting to sell 50 sports cars using forged documents
- Suspects appear in court for deception and bribery in obtaining bank loans
- Chinese company convicted of trade secrets theft
- Trump administration continues Iran sanctions waivers, but signals desire for changes
- DOJ reports more than two thirds of $4 billion civil fraud recoveries in 2017 are from the health sector
- Turkish banker convicted for Iran sanctions violation
- Court overturns $350 million judgment in FCA case
- ICAC's figures highlight private sector focus and high conviction rate
- Update on allegations of international bribery against former senior Hong Kong official
- Kennedy Wong acquitted of bribery
- HSF publishes updated guide to anti-bribery and corruption in Hong Kong
CHINA, SOUTH EAST ASIA & INDIA
China
- 2017 corruption figures published
- Local regulators waste no time deploying China’s Anti-Unfair Competition Law
- China's focus on pyramid schemes
- Herbert Smith Freehills publishes updated guide to anti-bribery and corruption in China
Singapore
- Singapore to review anti-corruption and related laws
South Korea
- President Park indicted for accepting bribes from National Intelligence Service
- Tumultuous month for cryptocurrency in South Korea
Vietnam
- Corruption crackdown escalates whilst new Penal Code expands domestic anti-corruption regime
Indonesia
- Bitcoin is not a legitimate form of payment
Philippines
- AMLC assess money laundering threat as high
Pakistan
- National Accountability Bureau pushes for finalisation of 1,000 outstanding cases and crackdown on offshore companies
- Changes in Japan's AML landscape on the horizon
- Japan plans to introduce the right to plea bargain in June
- Japanese supercomputer joint venture suspected of tax evasion
- The OECD has released its fourth report on Australia's efforts to combat foreign bribery
- Australian Government agencies release joint guidelines to assist corporations in self-reporting foreign bribery
- AUSTRAC makes new rules on anti-money laundering and counter-terrorism financing
- Australia's Parliament inquires into the impact of new and emerging technology on law enforcement and investigation
- Australian Parliamentary Inquiry recommends modern slavery reporting and compliance measures
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