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Corporate Crime update, February 2018

05 March 2018 | Global
Legal Briefings


Welcome to the February 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. Click read more for the full article of each jursidiction. Below we provide a brief overview of what is covered in each update.



  • Transparency International Corruption Perceptions Index 2017: UK ranked as 8th least corrupt country 
  • CMA launches new campaign to encourage cartel tip-offs
  • Criminal Finances Act 2017 updates to POCA 2002 come into effect
  • Legal professional privelege: Bilta (UK) Ltd v Royal Bank of Scotland Plc and Ancor [2017] EWHC 3535 (Ch)
  • BEIS: world-first register to combat money laundering in the property market
  • HMRC anti-money laundering compliance review: MSBs
  • 5MLD: House of Commons European Scrutiny Committee report
  • FCA secures conviction against illegal money lender and issues first SCPO  

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  • Germany's New Grand Coalition II to focus on corporate criminal liability, regulation of internal investigations and anti-money laundering
  • German Federal Court of Justice clarifies: "Liabilities II" must be taken into account in the liquidity balance when assessing whether a company is insolvent
  • BaFin issues cease and desist order to unauthorised principal broking services
  • SAP and others accused of criminal breaches
  • France and Germany to make joint bitcoin regulation proposal at G20 summit 

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  • Banker and businessman jailed for five years in fraud case
  • Bankers jailed for embezzling Dh 25 million have sentence reduced on appeal
  • British financial advisor convicted by Dubai Criminal Court for operating without licence 

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  • US Supreme Court limits the scope of "whistleblowers" under the Dodd-Frank Act's anti-retaliation provision
  • Five former Venezuelan government officials charged in foreign bribery money laundering scheme
  • SEC halts alleged ICO scam
  • US bank fined $528 million for anti-money laundering issues
  • OFAC releases risk alert relating to North Korea's shipping practices, designates additional persons under North Korean sanctions 

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  • Hong Kong enhances anti-money laundering and counter-terrorist financing requirements for non-financial institutions
  • Update on allegations of international bribery against former senior Hong Kong official
  • Hong Kong Consul Generals briefed by the ICAC on the regulators plans for future co-operation and training
  • The ICAC and SFC continue to engage in Convoy Global related raids
  • SFC obtains court order to disqualify former chairman of listed company for six years for misconduct  

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  • Wind turbine maker guilty of stealing secrets
  • South Africa fines Chinese Bank $6million for poor anti-money laundering controls

South Korea

  • Real-name trading for cryptocurrencies
  • Samsung heir freed on appeal
  • Park Geun-hye case update – Convictions of businesspeople and the former president's associate


  • Two Directors jailed after pleading guilty to money laundering related charges


  • Bank of Thailand issues circular warning away from cryptocurrencies


  • Unregulated Deposit Schemes Bill, 2018 to be introduced into parliament 

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  • Japan's new Anti-Money Laundering Office 

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  • Australia slides further in Transparency International's global corruption perception index
  • Senate committee reports on foreign bribery due soon
  • Australia's proposed whistleblower protection legislation referred to Senate Economics Legislation Committee
  • Full Federal Court rules on self-incrimination provision in the Uniform Evidence Acts 

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