Corporate Crime Update – July 2014

Welcome to the July 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

United Kingdom

  • Andy Coulson to face retrial on bribery charges
  • SFO launches formal investigation of UAE bribery claims at Sweett Group
  • FCA high risk countries webpage
  • HMT advisory notice on money laundering
  • HMT financial sanctions – revision of policy
  • Criminal charges against Alstom in the UK
  • SFO speech to UK Aerospace and Defence Industry seminar
  • Bruce Hall sentenced to 16 months in prison
  • Forex Investigation
  • Amendments to Extradition Act 2003
  • Interim relief from Iran sanctions extended to November 2014
  • Outcomes from the meeting of  the FATF Plenary, Paris, 25-27 June 2014
  • ICC guidelines on gifts and hospitality

Europe

  • Publication of Directive on the European Investigation Order in criminal matters

Ukraine

  • Sanctions update: EU and OFAC extends asset freeze and introduces new sanctions on energy and financial sector

France

  • Reform of the French Criminal Code: French National Assembly adopts Government bill to strengthen the effectiveness of criminal sanctions
  • Final adoption of the reform concerning review procedures for criminal convictionsImplementation of Directive nº 2012/13/EU relating to the right to information in criminal proceedings
  • Circular of 22 May 2014: harsher penalties in the fight against tax fraud

Spain

  • Spanish Courts make first conviction of former savings banks’ executives

Middle East

  • GPT staff quizzed in SFO probe into alleged Saudi corruption
  • Mideast execs more vulnerable to fraud – survey

Russia

  • Prosecutor’s General Office of Russia approves indictment against Y. Vasilieva and others
  • Criminal action filed with the court on multi-million tax fraud

China, South East Asia & India

China

  • Former vice chairman of the Central Military Commission ousted from Communist Party
  • Former deputy governor of Hainan Province is under investigation for corruption
  • Vice-chairman of the Chinese People’s Political Consultative Conference is put under investigation
  • Two Shanxi officials dismissed for suspected corruption
  • Greater transparency ordered in corruption cases

India

  • ACB laid 500 traps this year

South Korea

  • Allegations of corruption in connection with South Korea ferry
  • South Korea to eradicate corruption in all areas

Indonesia

  • Former Indonesian Constitutional Court judge jailed for life

Thailand

  • Thailand urge five listed state enterprises to implement anti-corruption compliance standards

Philippines

  • Third Philippine senator arrested in corruption case

Singapore

  • Singapore Media Development Authority assistant director jailed for corruption

Japan

  • Vietnam-Japan focus on Official Development Aid – JTC executives charged with bribing Vietnamese officials
  • Increased scrutiny of Japanese anti-corruption measures

Australia

  • Queensland’s new CCC watchdog takes effect
  • Austrac signs new MoU with New Zealand

United States

  • US judge approves warrant for Google user’s emails
  • Reaffirmation of the attorney-client privilege in internal investigations

 

 


Disclaimer

Herbert Smith Freehills LLP is licensed to operate as a foreign law practice in Singapore. Where advice on Singapore law is required, we will refer the matter to and work with licensed Singapore law practices where necessary.

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