Included in this issue: ANTI-MONEY LAUNDERING: Anti-money laundering body Austrac to begin legal proceedings against Tabcorp | HEALTH AND SAFETY: Paper Company fined after a number of "serious safety failings" | CYBER CRIME: Hackers cash in with insider trading | SANCTIONS: US threatens South Sudan with UN sanctions if peace deal not reached soon | GENERAL: FCA statement regarding Quindell Plc

Anti-Money Laundering      

Anti-money laundering body Austrac to begin legal proceedings against Tabcorp

Australia’s financial intelligence unit, Austrac, is taking wagering and keno operator Tabcorp to court, claiming it has failed to comply with anti-money laundering and counter-terrorism financing laws. 

The Guardian, 22 July 2015 

Health and Safety

Paper Company fined after a number of "serious safety failings"

A paper company was fined £400,000 after a number of "serious safety failings" led to an employee being crushed by a machine. Exeter Crown Court heard DS Smith Paper had failed to act on 73 urgent safety recommendations from a report compiled 11 months earlier. 

BBC, 11 August 2015 

Cyber Crime

Hackers cash in with insider trading

US authorities brought civil or criminal charges against 32 people and companies that allegedly conspired to steal unpublished financial press releases and shuttle that information to traders. Together, officials say the group made more than $100 million in profits from the illegal trades. 

The Hill,16 August 2015

Sanctions

US threatens South Sudan with UN sanctions if peace deal not reached soon

The US has put pressure on political leaders in South Sudan by announcing it was consulting with other countries about imposing United Nations sanctions on anyone who undermined the peace process in the war-hit east African state. 

The Guardian, 18 August 2015

General

FCA statement regarding Quindell Plc

In the light of the Serious Fraud Office’s (SFO) decision to launch an investigation into the business and accounting practices at Quindell Plc, and following consultation with the SFO, the Financial Conduct Authority has decided to discontinue its own investigation with immediate effect. 

Financial Conduct Authority, 18 August 2015