Herbert Smith Freehills Corporate Crime Monthly Update - October

Posted on October 27, 2016
Archive : October 2016
Category : Herbert Smith Freehills

Herbert Smith Freehills Corporate Crime Monthly Update - October 2016

Welcome to the October 2016 edition of the Herbert Smith Freehills corporate crime update - our round up of developments in relation to corruption, money laundering, fraud, sanctions and related matters. This 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. 


UNITED KINGDOM/ EUROPE

  • Publication of the Criminal Finances Bill 2016-17
  • Law Commission calls for reform of offence of Misconduct in Public Office
  • FCA fines a bank and former money laundering reporting officer for AML failures
  • SFO speech on DPAs
  • David Green QC gives evidence at a Justice Committee evidence session on the work of the SFO
  • MLD V – ECB opinion and updated procedure file

GERMANY

  • German company Leoni victim of CEO fraud

MIDDLE EAST

  • Former Emirati official arrested in Saudi Arabia over alleged fraud
  • New bankruptcy laws in the United Arab Emirates
  • Investor embezzled more than DH8.4million from Dubai Economic Department

HONG KONG

  • Securities and Futures Commission warns industry of anti-money laundering concerns
  • Gift-wrapping bribery: law enforcement agencies focus on corporate perks in Asia Pacific

CHINA, SOUTH EAST ASIA & INDIA

China

  • Collection of electronic data by Chinese criminal authorities set to increase

Taiwan

  • Mega International under investigations in Taiwan

Cambodia

  • Cambodia and China sign memorandum of understanding on anti-money laundering
  • Small and Medium Enterprises (SMEs) establish partnership with Transparency International

Thailand

  • Thailand opens its first dedicated corruption court
  • New Know-Your-Customer (KYC) Process for accepting deposits from the public

India

  • Multinational IT service provider investigates potential corruption probe

Pakistan

  • SAARC organizes first anti-corruption forum

Malaysia

  • MACC probes kickbacks for bank loans

South Korea

  • South Gyeongsang Governor sentenced to prison for bribery
  • New Anti-graft Law to affect more than 40,000 organizations
  • Former executives of national swimming body get jail terms for corruption

Singapore

  • Former IT Director of Schenker charged with graft
  • Singapore Court Approves Extradition of Two in US Navy Bribery Case

Indonesia

  • High-ranking Official Arrested on Graft Allegation

JAPAN

  • Continued falsification of fuel economy data by Mitsubishi Motors

AUSTRALIA

  • AFP establishes Anti-Corruption Team in Perth
  • AFP and CDPP release exposure draft of self-reporting protocol
  • Re-establishment of Senate Inquiry into corporate corruption
  • NSW Government proposes restructure of ICAC
  • Western Australia’s Corruption Commission cannot prosecute

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