Corporate Crime Update – May 2014

Welcome to the May 2014 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

  • IMF board reviews AML/CFT strategy
  • UK opens probe into alleged Ukrainian corruption
  • First European Union Integrity System report
  • EU adopts broad compliance disclosure rule
  • Ukraine Sanctions
  • Pharmaceutical bribery claims 

France

  • Publication of the criteria for approval of anti-corruption groups hoping to exercise the rights of civil parties in French criminal investigations
  • Corporate criminal liability: the Supreme Court (Cour de Cassation) reaffirms the need to attribute the offence to a specific body or representative

Spain

  • Spanish regulations are approved to implement the Spanish Anti-money Laundering Act of 2010

Middle East

  • GlaxoSmithKline bribery allegations
  • Egypt Finance Minister detained in France

Russia

  • Large-scale commercial bribery has been prevented
  • Authorities prevented a series of frauds

Hong Kong

  • Money laundering investigations in Hong Kong up sharply following 2012 law

China, South East Asia & India

China

  • China to focus more on bribe-givers
  • Chairman of China Resource Holding Co. under investigation
  • Qualcomm under investigation due to conduct in China
  • Avon settles SEC and DOJ investigation by agreeing to pay US$135 million
  • Deputy Chairman and Party Secretary of the Chinese Association for Science and Technology under investigation
  • Former China Mobile Executive sentenced to death for taking bribes
  • China’s Former Security Chief. Zhou Yongkang, has his assets seized
  • Senior official in Qinghai province under investigation for graft
  • Two former officials in Henan province under investigation
  • Former Deputy Chief of the Department of Transport under investigation for taking bribes
  • Chongqing legislator under investigation for graft

India

  • DOJ asks India to put current MP under preliminary arrest

Indonesia

  • Former Head of Indonesian Energy Regulator jailed for accepting bribes
  • Former Chief of the Indonesian Audit Agency named as a suspect in a bribery case

Myanmar

  • Myanmar Parliament questions judicial corruption

Vietnam

  • Vietnam prosecutor seeks identity of official involved in bribery investigation

Malaysia

  • Former Director of National Arts and Culture Department charged with accepting bribes and making false claims

Philippines

  • Former officials of the Department of Health found guilty of accepting bribes

Pakistan

  • Pakistan’s NAB arrests energy moguls

Korea

  • Former head of Lotte Homeshopping questioned for allegedly receiving bribes
  • DOJ seeks to recover monies linked to the former President of South Korea

Japan

  • Individual shareholder brings derivative action against Mizuho Financial Group following “anti-social forces” loans scandal
  • Japan Transportation Consultants Inc. suspected of paying bribes

Australia

  • Australia reconsidering support for open government initiative
  • Australian Crime Commission, AFP and intelligence agencies push for reform of telecommunications laws
  • Greater powers for Victoria’s anti-corruption agency
  • Reform considered for Queensland’s Crime and Misconduct Commission

United States

  • SEC issues partial stay of conflict minerals rules
  • SEC expands probe into hiring practices in Asia
  • Israel enters into tax information sharing arrangement with US
  • U.S. expands Ukraine sanctions
  • Attorney General announces dedicated kleptocracy squad 

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