Stay in the know
We’ll send you the latest insights and briefings tailored to your needs
11 7月 2017
Insight
Global
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 covers a number of jurisdictions summarised below. Click read more for the full article of each jursidiction.
UNITED KINGDOM/ EUROPE
- Employer's belief is not relevant in whistleblowing
- FCA/ PRA new whistleblowing rules for UK branches of foreign banks and insurers
- Sentencing must reflect scale of money laundering, not amount of criminal proceeds
- The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 and revised JMLSG Guidance
- SFO closes BoE investigation
UNITED STATES
- 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
GERMANY
- New legal framework on the recovery of criminal proceeds
MIDDLE EAST
- Multi-billion dirham investment scam affects 3,700 customers
- Computer programmer jailed
- $5 million stolen from company owner in fraud scheme
HONG KONG
- 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
- Japan passes new "anti-conspiracy" law
AUSTRALIA
- 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
Key contacts
Legal Notice
The contents of this publication are for reference purposes only and may not be current as at the date of accessing this publication. 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 based on this publication.
© Herbert Smith Freehills 2025