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14 3月 2019
Insight
Global
Welcome to the Winter 2019 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 read more for the full article of each jurisdiction. Below we provide a brief overview of what is covered in each update.
UNITED KINGDOM/EUROPE
UNITED KINGDOM
- Four more sentences imposed in F.H. Bertling Ltd corruption case
- SFO opens investigation into three property developments
- SFO announces new General Counsel
- HM Treasury publishes advice on money laundering and terrorist financing controls in high-risk jurisdictions
- HMRC guidance on failure to prevent facilitation of tax evasion self-reporting
- New taskforce to tackle economic crime
- Manraj Virdee sentenced for illegal operation of unauthorised CIS
- NCA granted forfeiture orders relating to accounts held by the son of the ex-Prime Minister of Moldova
- NCA publishes Suspicious Activities Reports (SARs) Annual Report 2018
- UK falls out of global top 10 in anti-corruption index
- Anonymous safety deposit boxes and amendments to JMLSG guidance
- JMLSG 2019 Workplan
- Brexit preparedness - new technical guidance on interception and monitoring prohibitions in sanctions
- New criminal offences for mishandling a pension scheme
- Independent review of the quality and effectiveness of audits
- Attorney General's new framework agreement with SFO
- Home Office approves extradition of Vijay Mallya to India
- Treasury Committee - FOS letter highlights complaints about fraud and scams
- Review of non-disclosure agreements and whistleblowing laws
- EU Exit: HM Treasury guidance on financial sanctions
- OFSI Financial Sanctions Notices
- OFSI issues first ever fine for financial sanctions breaches
- FCA concerns around payments to governments reporting requirements
- SFO closes investigations into Rolls-Royce Plc and GlaxoSmithKline Plc
- SFO publishes Deferred Prosecution Agreement with Tesco Stores Limited
- High Court orders disclosure of SFO documents in s.90A FSMA shareholder class action
- Former Petrofac senior executive pleads guilty to eleven counts of bribery
- EU Exit: draft and final statutory instruments
EUROPEAN UNION
- New European Commission 'high risk third country' list rejected
- MLD4: Commission Delegated Regulation on minimum actions to mitigate money laundering and terrorist financing risk
- European lawmakers reach informal agreement on AML information sharing
- EBA: updated final report on fraud reporting guidelines under PSD2
- EUROPOL: EU member states agree 2019 money laundering action plan
- EU TAX3 Committee calls for stiffer AML rules after Dankse bank issues
INTERNATIONAL BODIES
- FATF consolidated assessment ratings
- FATF Plenary 20-22 February 2019
- Wolfsberg Group guidance on sanctions screening
- IPSFF guide to managing fraud for public bodies
GERMANY
- Regional Court of Dortmund: Lawsuit against German textile discounter KiK – responsibility for human rights violations in subsidiaries and down the supply chain?
- Germany moves up one space in global anti-corruption index despite a reduced score
- Dubai expat jailed for life for embezzling Dh 13.4m from employer
- Bank manager sentenced for embezzling Dh 10 million in Dubai
- 30,000 counterfeit goods seized in Sharjah
- Sharjah Police warn of latest investment fraud
- Heera Ponzi scheme victims welcome charge sheet against CEO
- Hong Kong Court of Appeal considers constitutionality of the requirement to disclose suspicious transactions
- SFC issues HK$15.2 million fine for failure to report money-laundering activity
- Guides to investigations in Hong Kong and China updated for 2019
- RBI imposes monetary penalties on 10 banks for breaches of anti-money laundering standards
KOREA
- OFAC imposes fine in North Korean sanctions case
MALAYSIA
- Malaysia launches National Anti-Corruption Plan
- Wave of anti-corruption enforcement in Malaysia
- Securities Commission introduces new rules for digital payment
SINGAPORE
- Procurement officer pleads guilty to receiving bribes of $740,000
- New law to govern precious stones and metals
- "Zero-tolerance in corruption" as Singapore charges Korean engineers
PHILIPPINES
- Bank manager jailed and fined $110 million for money laundering
- Former mayor sentenced to 10-year imprisonment for graft
INDONESIA
- Garuda sues Rolls-Royce over allegedly fraudulent contract
- New whistleblower legislation passed through Parliament
- New corporate and financial sector penalties legislation passed through Parliament
- Commonwealth Modern Slavery legislation passed
- Treasury Laws Amendment (Combating Illegal Phoenixing) Bill 2019 - Explanatory Memorandum released
- OFAC imposes blocking sanctions on PDVSA
- SEC files insider trading charges
- SEC charges Cognizant and two former executives with FCPA violations
- False Claims Act "kickback" whistleblower wins appeal
- False Claims Act defendant argues statute is unconstitutional
- Government puts electronic health records companies "on notice" of vigorous False Claims Act enforcement
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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.
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