Welcome to the April 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. Below we provide a brief overview of what is covered in each update.
- FCA Business Plan 2018/2019
- Economic crime inquiry launched by Treasury Committee
- Transparency International publishes CPI 2017
- The cyber threat to UK business 2017-2018 report
- UK Government commits funding to tackle cybercrime
- SFO to make changes to expert witness preparation
- SFO announces enhanced artificial intelligence document analysis capability
- SFO to recover £4.4 million from Chad oil corruption case
- Counter Fraud Unit catches 80 fraudsters and saves £30 million in 2017
- UK Finance: Annual fraud update 2017
- Codes of practice on POCA 2002 search powers published
- EU proposes whistleblower protection legislation
- EU Council adopts directive on combating fraud and counterfeiting of non-cash means of payments
- European Commission proposal for access to electronic evidence held outside of the EU
- European Parliament: In-depth analysis of money-laundering cases
- EU extends sanctions on Myanmar
- GDPR to take effect - a German perspective
- Draft proposal on reform of the Spanish Money Laundering Act
- Forex fraudsters receive 517 year prison sentences for role in Ponzi scheme
- Saudi Arabia begins anti-corruption probe into dozens of officials and business leaders
- Kuwaiti National Assembly Committee considers launching investigation into $200 Million investment fund
- Bahrain residents investigated in $2 billion bank fraud probe
- US announces new Russia sanctions designations, releases new guidance
- British Citizen extradited to New York for alleged $37 million Bitcoin scam
- SEC obtains emergency order freezing $27 million in stock sales from purported cryptocurrency company
- SEC awards more than $2.2 million to whistleblower who first reported information to another federal agency
- SEC halts fraudulent scheme involving unregistered ICO
- Dun and Bradstreet settle FCPA charges with $9 million
- Cybersecurity Tech Accord signed by over 30 global technology companies
- CFTC charges multiple individuals and companies with operating fraudulent binary options scheme
- ICAC Chief visits Myanmar and Malaysia as part of Belt and Road Initiative
CHINA, SOUTH EAST ASIA & INDIA
China
- China sees active month for prosecuting senior officials
South Korea
- Corruption scandal surrounding South Korea's former presidents continues
- Cabinet to raise maximum reward for whistle-blowers to 3 billion won
- South Korean authorities demonstrate increased scrutiny of cryptocurrencies
Malaysia
- Malaysia introduces new law to combat corporate bribery
Indonesia
- 15 years imprisonment for former Indonesia Parliament speaker after US$170million corruption scandal
- Indonesia proposes new law to eradicate money laundering
- Oil and gas sector looks to ISO 37001-2016 to curb bribery and promote investment
Philippines
- Asia Pacific Group on Money Laundering (APG) to evaluate Philippines compliance
Singapore
- Inspired by the UK regime, Singapore introduces deferred prosecution agreements for corruption and money laundering offences
Myanmar
- EU extends sanctions on Myanmar
- Cryptocurrency exchanges crackdown continues
- Suruga Bank under investigation by the FSA
- Australian Government announces stronger penalties for corporate misconduct
- Senate Committee releases report into proposed reforms to corporate crime legislation
- Australian Senate Economics Reference Committee releases report into foreign bribery
- ASIC's appeal in civil penalty proceedings againt former AWB officer dismissed
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