Follow us


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 what is covered in each update. Click read more for the full article of each jursidiction.


 

UNITED KINGDOM/EUROPE

  • Rise in HMRC dawn raids to combat tax evasion
  • Organisations to face fines for cyber security failures under new government plans
  • New sanctions reporting requirements for non-financial sector businesses
  • FCA publishes answers to outstanding questions
  • Herbert Smith Freehills assists with first prevention of corruption clause in Olympic Games host city contract
  • SFO earns taxpayers £517 million in 12 months
  • FCA publishes report on new technologies and AML compliance
  • Individual arrested on suspicion of cryptocurrency fraud
  • CMA consultation on revised penalties guidance 

READ MORE


 

GERMANY

  • GDPR to take effect - a German perspective 

READ MORE


 

SPAIN

  • Draft proposal on reform of the Spanish Money Laundering Act 

READ MORE


 

MIDDLE EAST

  • Forex fraudsters receive 517 year prison sentences for role in Ponzi scheme 
  • Saudi Arabia begins anti-corruption probe into dozens of officials and business leaders 
  • Kuwaiti National Assembly Committee considers launching investigation into $200 Million investment fund
  • Bahrain residents investigated in $2 billion bank fraud probe 

READ MORE


 

UNITED STATES

  • US announces new Russia sanctions designations, releases new guidance
  • British Citizen extradited to New York for alleged $37 million Bitcoin scam
  • SEC obtains emergency order freezing $27 million in stock sales from purported cryptocurrency company 
  • SEC awards more than $2.2 million to whistleblower who first reported information to another federal agency 
  • SEC halts fraudulent scheme involving unregistered ICO
  • Dun and Bradstreet settle FCPA charges with $9 million
  • Cybersecurity Tech Accord signed by over 30 global technology companies
  • CFTC charges multiple individuals and companies with operating fraudulent binary options scheme 

READ MORE


 

HONG KONG

  • ICAC Chief visits Myanmar and Malaysia as part of Belt and Road Initiative  

READ MORE


 

CHINA, SOUTH EAST ASIA & INDIA

China

  • China sees active month for prosecuting senior officials 

South Korea

  • Corruption scandal surrounding South Korea's former presidents continues 
  • Cabinet to raise maximum reward for whistle-blowers to 3 billion won 
  • South Korean authorities demonstrate increased scrutiny of cryptocurrencies 

Malaysia

  • Malaysia introduces new law to combat corporate bribery 

Indonesia

  • 15 years imprisonment for former Indonesia Parliament speaker after US$170million corruption scandal 
  • Indonesia proposes new law to eradicate money laundering 
  • Oil and gas sector looks to ISO 37001-2016 to curb bribery and promote investment 

Philippines 

  • Asia Pacific Group on Money Laundering (APG) to evaluate Philippines compliance 

Singapore

  • Inspired by the UK regime, Singapore introduces deferred prosecution agreements for corruption and money laundering offences 

Myanmar

  • EU extends sanctions on Myanmar 

READ MORE


 

JAPAN

  • Cryptocurrency exchanges crackdown continues
  • Suruga Bank under investigation by the FSA 

READ MORE


 

AUSTRALIA

  • Australian Government announces stronger penalties for corporate misconduct
  • Senate Committee releases report into proposed reforms to corporate crime legislation
  • Australian Senate Economics Reference Committee releases report into foreign bribery
  • ASIC's appeal in civil penalty proceedings againt former AWB officer dismissed 

READ MORE


 

Key contacts

Susannah Cogman photo

Susannah Cogman

Partner, London

Susannah Cogman
Brian Spiro photo

Brian Spiro

Partner, London

Brian Spiro
Kate Meakin photo

Kate Meakin

Partner, London

Kate Meakin