Corporate crime update, May 2017

Welcome to the May 2017 edition of our corporate crime update - our round up of developments in relation to corruption, money laundering, fraud, sanctions and related matters. Our update covers a number of jurisdictions summarised below. Click read more for the full article of each jursidiction.

UNITED KINGDOM/EUROPE

• Law firm and individuals fined £80,000 for regulatory and money laundering breaches
• Criminal Finances Bill receives Royal Assent 
• SFO charges four people in corruption probe
• UK launches National Cyber Security Centre
• High Court decision takes restrictive approach to both litigation legal privelege and legal advice privelege

UNITED STATES

• Stock promoter convicted in £100 million stock fraud trial
• DOJ Foreign Corrupt Practices Act Pilot Program remains indefinitely
• FCPA whisteblower wins retaliation case
• SEC continues to award whisteblowers
• Fine of £850 million for export control violations
• FinCEN fines bank for anti-money laundering violations

HONG KONG

• Government proposals to enhance anti-money laundering and counter terrorist financing 
• Court of Appeal upholds MMT finding of no insider dealing
• SFC bans former relevant individual of registered institution for life over theft

JAPAN

• Officials arrested for alleged bribery over Fukushima decontamination contracts

CHINA, SOUTH EAST ASIA & INDIA

China

• Former SOE executives found guilty of bribery charges
• Insurance regulator probed for suspected corruption
• Ex-judge jailed for corruption

Taiwan

• Former Deputy Mayor and chairman sentenced to ten years imprisonment

Thailand

• Former Thai governor sentenced to 50 years imprisonment

Indonesia and Philippines

• Businessman sentenced to three years imprisonment
• Alleged corruption in warships deal investigated

AUSTRALIA

• Australian Government consultation paper on proposed deferred prosecution agreement scheme
• Australian Government consultation paper on proposed amendments to foreign bribery offence
• Australian Senate Committee report on white-collar crime penalties
• Government Bill to fight fraud and corruption
• New laws on corrupt payments to unions
• Hong Kong national laundered money through Australian banks
• Former chairman fined for breach of director's duties for improper payments to Iraq

MIDDLE EAST

• Minister of Labour employees fined and jailed
• Telecom fraud results in £90,000 fine
• Ex-CEO sentenced to 25 year's imprisonment 
• Criminal Court sentences bank officials to 3 year's imprisonment