Monday, October 19, 2020

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France Moves to Embrace Fight Against Corporate Corruption

The French Ministry of Justice this month sent a memo to prosecutors outlining how it plans to investigate and prosecute illegal bribes paid by French companies to secure business in foreign countries. These plans follow the model of the United States, by encouraging companies to detect and voluntarily disclose allegations of bribery, and rewarding the […]
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U.K. Serious Fraud Office Looks for Ways to Improve Handling of Cases

The UK’s Serious Fraud Office has outlined several steps it may take – including hiring paralegals to help review documents – to address complaints about how it engages with staff and works its cases. One report by an independent government inspector said the SFO’s sharp focus on delivery of case work had led to a […]
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Former UK prosecutor: Work from Home Options Trigger New Internal Compliance Concerns

As the COVID-19 risk diminishes, employees will return to central workplaces slowly, if at all. Three ways that work-from-home options change the internal risk profile are: Side Hustle Syndrome. Remote working can provide the opportunity to start or develop side jobs, and unclear guidance or inconsistent application of the rules can be damaging for both […]
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U.K.’s Serious Fraud Office Closes Probe Into ABB’s Dealings With Unaoil

The U.K.’s Serious Fraud Office has closed a bribery probe into ABB Ltd.’s past dealings with oil-services provider Unaoil Group. It began investigating ABB after the European engineering giant disclosed the results of an internal investigation into its business with Monaco-based Unaoil in 2017, which included allegations of improper payments to third parties. However, the […]
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World Bank Debars China Power Company for Fraud

The World Bank has debarred Liaoning-EFACEC Electrical Equipment Company Limited of Beijing for 20 months, for fraud in a project to increase the capacity and improve the reliability of the electricity transmission and distribution system in Lusaka, Zambia. LEEEC failed to disclose a conflict of interest and misrepresented its past contract experience. LEEEC has 1,680 […]
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France’s Anti-Corruption Agency Publishes Guidance on Its Enforcement Activity During COVID-19 Crisis

France’s Anti-Corruption Agency (Agence Française Anticorruption) has temporarily suspended inspections due to the COVID-19 crisis. The agency closed its office and directed inspectors to...

Expired MLA or TAA? New Guidance Clarifies that Certain Activity under an ITAR Agreement...

In a series of Frequently Asked Questions released on March 31, 2020, the U.S. State Department’s Directorate of Defense Trade Controls issued new clarifying guidance for companies with ongoing business based on expired Technical Assistance Agreements or Manufacturing License Agreements under the International Traffic in Arms Regulations.  Companies in the defense sector should take note of […]
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French Enforcement Actions Provide More Insight into Sapin II Compliance Requirements

Two recent rulings by France’s Commission of Sanctions provide insight into which aspects of the transparency, anti-corruption, and modernization law known as Sapin II the Agence Française Anticorruption focuses on during its inspections. Xavier Oustalniol and Véronique Chauveau of StoneTurn argue that an understanding of the these cases — Imerys and Sonepar — is important […]
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Bank Secrecy Act Compliance During the COVID-19 Crisis

Elizabeth Slim reminds us that Anti-Money Laundering professionals are still required to ensure that financial institutions maintain a safe and sound Bank Secrecy Act...

ZTE Denies Knowledge of Alleged US Bribery Investigation

ZTE has denied any knowledge of a reported investigation by US officials into alleged bribery practices. The Chinese telecommunications giant is facing scrutiny by...