Corporate Crime Monthly Update January 2017

Welcome to the January 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 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

  • MoJ call for evidence on corporate liability for economic crime
  • SFO enters into third and largest Deferred Prosecution Agreement
  • SFO speech on fighting fraud
  • SFO wins Property Freezing Order appeal in Chad oil corruption case
  • FCA FAQs on REP-CRIM
  • MLD IV – European Parliament resolution on high-risk countries
  • ESAs delay on the delivery of draft RTS under MLD4

GERMANY

  • No protection against prosecutorial confiscation for Corporate Ombudsmen in Germany

MIDDLE EAST

  • Plans to introduce new securities law to safeguard investors in Oman
  • Israeli prime minister questioned over corruption allegations
  • Egyptian judge found dead in cell amid corruption charges
  • Notary president and other officials suspended over SR400m forged deed

HONG KONG

  • SFC announces "Manager in Charge" regime to heighten senior management accountability for financial institutions in Hong Kong
  • Former Hong Kong leader Donald Tsang on trial for corruption
  • Acting for another – Hong Kong court of final appeal issues important clarification under the prevention of bribery ordinance

CHINA, SOUTH EAST ASIA & INDIA

China

  • China to establish new anti-corruption agencies
  • Former China Resources vice-chairman pleads guilty to graft charges
  • China jails former deputy sports minister for graft
  • Chinese court jails former coal group chiefs for bribery
  • Multiple former senior Chinese officials jailed for graft

Singapore

  • Former Micron manager fined for attempted bribery
  • Company director faces 30 months' jail for corruption
  • Graft scandal: Ex-ST Marine CEO jailed 10 months and fined

Vietnam

  • Vietnam: Government Bans New Year Gift-Giving To Curb Bribery

Malaysia

  • MACC, IRB team up to better combat graft criminals

Taiwan

  • Official involved in financial crime

JAPAN

  • Ex-Sumitomo Mitsui Employee Charged with Embezzling JPY960 million
  • High Court convicts city mayor in bribery case

UNITED STATES

Recent FCPA developments

  • Orthofix charged with accounting fraud and FCPA violations
  • Biomet fined for repeating FCPA violations
  • DOJ charges relatives of former UN Secretary-General for FCPA violations
  • Teva Pharmaceutical pays settles FCPA charges
  • SEC resolves FCPA and accounting fraud violation with General Cable
  • Businessmen and former Mexican officials plead guilty in connection with bribery schemes for aviation business
  • Former Guinean officials charged with money laundering for receiving bribes from Chinese companies
  • Argentine sports marketing company fined for international bribery conspiracy in FIFA case
  • Brazilian companies settle FCPA charges in connection with "Operation Carwash"
  • Redflex enters into non-prosecution agreement with the DOJ

Other corporate criminal and enforcement actions

  • Volkswagen pleads guilty in connection with cheating emissions tests, executives indicted
  • DOJ settles with McKesson for failure to report suspicious orders of drugs
  • Forest Laboratories and Forest Pharmaceuticals settle kickback allegations

Sanctions update

  • OFAC provides clarification regarding Iran sanctions "snapback"
  • OFAC issues guidance on sanctions compliance services

Money laundering

  • NYDFS penalizes Agricultural Bank of China for anti-money laundering violation

Cybersecurity

  • Cybersecurity sanctions targeting Russia implemented

 

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Filed under Bribery and Corruption, China, Corporate Crime, Dubai, EU, European Regulation, Germany, Hong Kong, India, Indonesia, International, Investigations, Japan, Sanctions and Money Laundering, UAE, UK Government, US

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