Corporate Crime

House of Lords Select Committee appointed to review Bribery Act 2010

House of Lords Select Committee appointed to review Bribery Act 2010 The House of Lords has established an ad hoc Select Committee (the “Committee“) to consider and report on the Bribery Act 2010 (the “Act“). The Committee, which was formally … Continue reading

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Filed under Announcements, Bribery and Corruption, Corporate Crime, Investigations, Sanctions and Money Laundering, Sector Updates by Herbert Smith Freehills

Middle East Anti-Bribery and Corruption Regulations Legal Guide 2018

Welcome to the first edition of our Anti-Corruption Regulation Legal Guide for the Middle East. We are delighted to launch this publication, which presents the legislative framework regulating bribery and corruption across arrange of Middle East jurisdictions, drawing upon the combined knowledge and experience … Continue reading

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Filed under Bribery and Corruption, Client Money, Corporate Crime, Herbert Smith Freehills, Investigations, Middle East, Sanctions and Money Laundering, Sector Updates by Herbert Smith Freehills

Foreign & Commonwealth Office publishes guidance on sanctions licensing policy after Brexit

The Foreign & Commonwealth Office has published guidance detailing the UK Government’s intended approach to sanctions exceptions and licences after Brexit. Sanctions exceptions and licences are mechanisms through which restrictive measures imposed by sanctions may be relaxed in specific circumstances. … Continue reading

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Filed under Announcements, Bribery and Corruption, Corporate Crime, Sanctions and Money Laundering, Sector Updates by Herbert Smith Freehills

MONEY LAUNDERING AND TERRORIST FINANCING RISKS FACING HONG KONG’S FINANCIAL INSTITUTIONS AND PAYMENT SYSTEMS

The Hong Kong government has published a report detailing the money laundering (ML) and terrorist financing (TF) risk assessment of Hong Kong. This follows the recommendations of the Financial Action Task Force (FATF) that jurisdictions identify and assess their ML/TF … Continue reading

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Filed under Asia, Bribery and Corruption, Corporate Crime, Hong Kong, Investigations, Sanctions and Money Laundering, Sector Updates by Herbert Smith Freehills

UNITED STATES ANNOUNCES COMPLETE WITHDRAWAL FROM THE JCPOA, AND PROVIDES WINDING-DOWN PERIOD BEFORE SANCTIONS RE-IMPOSITION

On May 8, 2018, President Trump announced that the United States will completely withdraw from the Joint Comprehensive Plan of Action (the “JCPOA“). The JCPOA, signed in July 2015 and implemented on January 16, 2016, lifted most US nuclear related … Continue reading

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Filed under Announcements, Bribery and Corruption, Corporate Crime, Regulatory Reform, Sanctions and Money Laundering, Sector Updates by Herbert Smith Freehills, US

HONG KONG GOVERNMENT ISSUES IMPORTANT MONEY LAUNDERING AND TERRORIST FINANCING RISK ASSESSMENT

The government has this week published a comprehensive report detailing Hong Kong’s Money Laundering and Terrorist Financing (ML/TF) Risk Assessment. This is the product of a year’s consultation, data analysis and stakeholder engagement by the government.

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Filed under Asia, Bribery and Corruption, Corporate Crime, Hong Kong, Investigations, Sanctions and Money Laundering

Corporate Crime update – April 2018

Welcome to the April 2018 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. Below we provide a brief overview of … Continue reading

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Filed under Asia, Bribery and Corruption, Corporate Crime, Europe, Investigations, Sanctions and Money Laundering, Sector Updates by Herbert Smith Freehills

TRANSPARENCY INTERNATIONAL PUBLISHES CPI 2017

In late February, Transparency International (“TI“) published the 2017 Corruption Perceptions Index (“CPI“). This is the 23rd annual edition of the CPI, which ranks countries according to the levels of public sector corruption, as perceived by business people and country … Continue reading

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Filed under Bribery and Corruption, Corporate Crime, Sanctions and Money Laundering, Sector Updates by Herbert Smith Freehills

HKMA CONDUCTS THEMATIC REVIEW OF AUTHORISED INSTITUTIONS’ SANCTIONS SCREENING SYSTEMS AND PLANS REVIEW OF SVF LICENSEES

Late last week, the HKMA published a circular to provide feedback to authorised institutions (AIs) on its thematic review of their sanctions screening systems, which took place in the past few months. While the review indicated that the screening systems examined were in … Continue reading

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Filed under Announcements, Asia, Corporate Crime, Hong Kong, Sanctions and Money Laundering

US ANNOUNCES NEW RUSSIA SANCTIONS DESIGNATIONS, RELEASES NEW GUIDANCE

On April 6, 2018, the US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) announced new designations of seven high-net-worth Russian individuals and 12 companies they own or control, 17 senior Russian government officials, and a state-owned Russian … Continue reading

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Filed under Announcements, Corporate Crime, Russia, Sanctions and Money Laundering, US