Archives: corruption

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Congress Seeks Reform of Red Notice Abuse

A Red Notice allows for detention of an international fugitive. But the practice has been criticized for abuse. In response, a bipartisan group of Congresspersons have introduced the Transnational Repression Accountability and Prevention Act (“the TRAP Act”). This reform legislation, if enacted, will affect politically-motivated Red Notices and enforcement of them around the world.… Continue Reading

Italy Scores Anticorruption Own Goal

The Italian Government recently approved a bill known as the Spazzacorrotti, or “Bribe Destroyer.”  The anti-establishment Movimento 5 Stelle, or Five Star Movement, which took office after campaigning to tackle bribery, has been championing the bill as a “revolution in the fight against corruption” that would allegedly save the country billions of euros. However, the same … Continue Reading

Anti-Corruption Guidance in Russia: What’s a Company to Do?

Anti-corruption has been a hot topic in Russia for some time. But recently, the Russian government has begun to take creative approaches in the fight against corruption. These initiatives are aimed at raising public awareness of corruption among the general public. What appears to be missing in this outreach is compliance guidance to companies in … Continue Reading

New OFAC CAPTA List Targets Foreign Banks

The Office of Foreign Assets Control (“OFAC”) recently announced the creation of a new list of sanctioned parties specific to foreign financial institutions (“FFIs”). The Correspondent Account of Payable-Through Account Sanctions (the “CAPTA List”) identifies FFIs that are prohibited or severely restricted from opening or maintaining a U.S. correspondent account.… Continue Reading

Will Russia Provide Missing Links to Murder, Kickbacks, Bribery?

The case against Leonid Teyf, a Russian citizen, in a federal court in North Carolina has enough juicy facts for an international crime novel. The U.S. prosecutors need evidence to convict Teyf and his accomplices of the central charges, stemming from an alleged kickback scheme in Russia. Will Russia provide missing links?… Continue Reading

Russia Continues Anticorruption Efforts in 2019

Russia continues its anticorruption efforts in 2019. These efforts build upon numerous convictions last year.  In January 2019, despite the two-week public winter break, two significant cases developed. Beyond seeking additional convictions, the Russian government will implement public anticorruption outreach this year.… Continue Reading

Britain Lifts Veil of Financial Secrecy for Overseas Territories

The UK Sanctions and Anti-Money Laundering Act signifies major changes to the UK’s anti-money laundering and sanctions regimes. Britain’s overseas territories, often criticized as tax havens, are now required to establish public registries of beneficial corporate ownership by December 31, 2020. The Act also includes a Magnitsky Amendment, modeled on U.S. law, enabling sanctions against … Continue Reading

Circuit Rejects Expansive Use of Conspiracy for FCPA

The Second Circuit issued its judgment on the case we have been monitoring, U.S. v. Hoskins. The court held that the “government may not expand the extraterritorial reach of the FCPA by recourse to the conspiracy and complicity statutes.”… Continue Reading

The Yacht Equanimity: a Symbol of Corruption?

This month, former Malaysian Prime Minister Najib Razak, who served from 2009 to 2018 as Malaysia’s sixth Prime Minister, pleaded not guilty to three new money-laundering charges related to the alleged multibillion-dollar looting of 1Malaysia Development Berhad (“1MDB”), a Kuala Lumpur-based strategic development company that is wholly owned by the Malaysian Ministry of Finance. The … Continue Reading

DPA Regime a Landmark Change to Singaporean Law

A recent landmark change to Singapore’s criminal justice system providing for Deferred Prosecution Agreements (“DPAs”), or voluntary alternatives to adjudication, should increase corporate accountability for acts of bribery, corruption, and money laundering.… Continue Reading

South Africa FIC Publishes Financial Crime Typologies

South Africa’s regulator, the Financial Intelligence Centre (“FIC”), oversees receipt and analysis of financial intelligence as well as its dissemination.  FIC recently released a booklet that provides “insight on some of the methods criminals use to abuse the financial system.” The booklet provides nine different case studies, including one about rhinoceros poaching.… Continue Reading

Serious Fraud Office: Apparent Renewed Faith

In the first part of this two-part post, we looked at some of the infamous cases that may explain repeated attempts by Theresa May, first as Home Secretary and later as Prime Minister, to dismantle the SFO, see here. Our attentions now turn to the important role the SFO continues to play in combatting corruption, … Continue Reading

Serious Fraud Office: Boost to Coffers Is Vote of Confidence

The UK’s Serious Fraud Office (“SFO”) recently received an unexpected, yet significant, increase in baseline funding for the 2018-2019 fiscal year. The funding boost comes in spite of Prime Minister Theresa May’s previous efforts, following several high-profile prosecutorial setbacks for the SFO, to fold it into the UK’s National Crime Agency (“NCA”). Relatedly, a new … Continue Reading

Mexico’s Federal Criminal Code and the New General Law of Administrative Responsibility

In part two of our series on Mexico’s anticorruption legislation,  we take a closer look at both the 2016 amendments to the Federal Criminal Code and the compliance provisions of the General Law of Administrative Responsibility as these laws apply to legal entities. Although these amendments are generally discussed separately, we believe that these laws, … Continue Reading

Mexico’s Anticorruption Legislation and its Impact

As a tsunami of corruption scandals devastates Latin America’s political landscape, it can be easy to dismiss the slow and uncertain steps many countries are taking in the fight against corruption as political jujitsu, enough to appease but not to change. We do not, and we remain optimistic as Mexico, Peru, Colombia, Argentina and – … Continue Reading

Global Magnitsky Sanctions Target Human Rights Abuses and Public Corruption

The first designations of individuals and entities sanctioned pursuant to the Global Magnitsky Human Rights Accountability Act (“Global Magnitsky”) are expected shortly. Congress enacted Global Magnitsky in late 2016, authorizing the President to seize property from and deny visas to: Foreign parties responsible for gross human rights violations committed against individuals who seek to promote … Continue Reading

Criminal Finances Act 2017 – New Corporate Offences of Failing to Prevent Facilitation of Tax Evasion

The United Kingdom’s National Risk Assessment of money laundering and terrorist financing in October 2015 identified three priority risks faced by the UK and concluded that a more robust enforcement response is required. These changes were to be underpinned by a partnership between the government and the private sector to effect a significant change in … Continue Reading

Changes to Whistleblowing Regulation under French Data Protection Law

In June 2017 the French data protection authority, the CNIL, published a revised norm for reporting systems ( “AU-004”) that will permit the implementation of the changes recently  introduced by the new French Anti-corruption Law “Sapin II” (as set out in our previous article “New French Anti-corruption Law Sapin II”). To read more about the change … Continue Reading

New French Anti-corruption Law “Sapin II”

At the end of 2016, after having undergone the scrutiny of the French constitutional court, French Law n° 2016-1691 of 9 December 2016, also known as “Sapin II” after the Finance and Economy Minister behind it, was finally enacted. It will, amongst other things, strengthen French anti-corruption regulations and has been hailed as a “game-changer”. … Continue Reading

Law 1778, Colombia’s Latest Attempt at Bringing its Anti-bribery Laws into Compliance with the OECD Anti-bribery Convention

Since being elected in 2010, Colombian President Juan Manuel Santos has been trying to have Colombia become a member of the Organization for Economic Co-operation and Development (OECD). As part of this endeavor, in January 2011, Colombia formally applied to become a participant of the Working Group on Bribery in International Business Transactions (the “Working … Continue Reading
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