Corporate Crime Monthly Update – July 2017

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 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 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

 

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