Corporate Crime Monthly Update – May 2017

Welcome to the May 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

  • Law firm and individuals fined £80,000 for regulatory and money laundering breaches
  • Criminal Finances Bill receives Royal Assent 
  • SFO charges four people in corruption probe
  • UK launches National Cyber Security Centre
  • High Court decision takes restrictive approach to both litigation legal privelege and legal advice privelege

UNITED STATES

  • Stock promoter convicted in £100 million stock fraud trial
  • DOJ Foreign Corrupt Practices Act Pilot Program remains indefinitely
  • FCPA whisteblower wins retaliation case
  • SEC continues to award whisteblowers
  • Fine of £850 million for export control violations
  • FinCEN fines bank for anti-money laundering violations

HONG KONG

  • Government proposals to enhance anti-money laundering and counter terrorist financing 
  • Court of Appeal upholds MMT finding of no insider dealing
  • SFC bans former relevant individual of registered institution for life over theft

JAPAN

  • Officials arrested for alleged bribery over Fukushima decontamination contracts

CHINA, SOUTH EAST ASIA & INDIA

China

  • Former SOE executives found guilty of bribery charges
  • Insurance regulator probed for suspected corruption
  • Ex-judge jailed for corruption

Taiwan

  • Former Deputy Mayor and chairman sentenced to ten years imprisonment

Thailand

  • Former Thai governor sentenced to 50 years imprisonment

Indonesia and Phillipines

  • Businessman sentenced to three years imprisonment
  • Alleged corruption in warships deal investigated

AUSTRALIA

  • Australian Government consultation paper on proposed deferred prosecution agreement scheme
  • Australian Government consultation paper on proposed amendments to foreign bribery offence
  • Australian Senate Committee report on white-collar crime penalties
  • Government Bill to fight fraud and corruption
  • New laws on corrupt payments to unions
  • Hong Kong national laundered money through Australian banks
  • Former chairman fined for breach of director's duties for improper payments to Iraq

MIDDLE EAST

  • Minister of Labour employees fined and jailed
  • Telecom fraud results in £90,000 fine
  • Ex-CEO sentenced to 25 year's imprisonment 
  • Criminal Court sentences bank officials to 3 year's imprisonment 

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