Corporate Crime Monthly Update October 2016

Welcome to the October 2016 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

• Publication of the Criminal Finances Bill 2016-17
• Law Commission calls for reform of offence of Misconduct in Public Office
• FCA fines a bank and former money laundering reporting officer for AML failures
• SFO speech on DPAs
• David Green QC gives evidence at a Justice Committee evidence session on the work of the SFO
• MLD V – ECB opinion and updated procedure file

GERMANY

• German company Leoni victim of CEO fraud

MIDDLE EAST

• Former Emirati official arrested in Saudi Arabia over alleged fraud
• New bankruptcy laws in the United Arab Emirates
• Investor embezzled more than DH8.4million from Dubai Economic Department

HONG KONG

• Securities and Futures Commission warns industry of anti-money laundering concerns
• Gift-wrapping bribery: law enforcement agencies focus on corporate perks in Asia Pacific

CHINA, SOUTH EAST ASIA & INDIA

China

• Collection of electronic data by Chinese criminal authorities set to increase

Taiwan

• Mega International under investigations in Taiwan

Cambodia

• Cambodia and China sign memorandum of understanding on anti-money laundering
• Small and Medium Enterprises (SMEs) establish partnership with Transparency International

Thailand

• Thailand opens its first dedicated corruption court
• New Know-Your-Customer (KYC) Process for accepting deposits from the public

India

• Multinational IT service provider investigates potential corruption probe

Pakistan

• SAARC organizes first anti-corruption forum

Malaysia

• MACC probes kickbacks for bank loans

South Korea

• South Gyeongsang Governor sentenced to prison for bribery
• New Anti-graft Law to affect more than 40,000 organizations
• Former executives of national swimming body get jail terms for corruption

Singapore

• Former IT Director of Schenker charged with graft
• Singapore Court Approves Extradition of Two in US Navy Bribery Case

Indonesia

• High-ranking Official Arrested on Graft Allegation

JAPAN

• Continued falsification of fuel economy data by Mitsubishi Motors

AUSTRALIA

• AFP establishes Anti-Corruption Team in Perth
• AFP and CDPP release exposure draft of self-reporting protocol
• Re-establishment of Senate Inquiry into corporate corruption
• NSW Government proposes restructure of ICAC
• Western Australia’s Corruption Commission cannot prosecute