Welcome to the February 2015 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/region, please click on the name of the jurisdiction/region below.  Below we provide a brief overview of what is covered in each update.

United Kingdom/ Europe

United Kingdom

  • Proposed amendments to the Proceeds of Crime Act 2002
  • Former hedge fund head sentenced to 13 years
  • HP Autonomy investigation
  • Cyber security boost for UK firms
  • The Money Laundering (Amendment) Regulations 2015
  • UK printing company and two men found guilty in corruption trial


  • European Parliament answers to questions on MLD IV and CRD IV
  • Council invites COREPER to endorse MLD IV and WTR
  • EU extends sanctions relating to Crimea and Sevastopol and European Commission issues guidance on existing Russian sanctions
  • EU introduces new asset freezing measures against Yemen


  • Advances on steps to reform the Spanish Criminal Code

Middle East

  • UAE named the least corrupt country in the Middle East
  • Alstom SA agrees to pay US$772 million to end investigation into bribes paid to win power-plant contracts in the Middle East and Indonesia
  • Saudi Arabia among world’s worst for ‘dirty money’ flows

Hong Kong

  • PCPD issues “Guidance on Personal Data Protection in Cross-border Data Transfer”
  • HKMA’s new initiatives on AML & CFT
  • SFC brought its first legal action against a short seller
  • Property tycoon and former chief secretary jailed in Hong Kong’s highest level corruption trial
  • Hong Kong regulator warns on cybersecurity risks
  • ICAC raided Guotai Junan International office and director’s home

China, South East Asia & India


  • China to set up permanent anti-corruption offices in central government and party departments
  • Woman bribing the former railroads minister sentenced to 20 years
  • Two senior officials at China Unicom under investigation for corruption
  • Interim regulations on real property registration issued
  • China to cooperate with US, Canada, Australia and France to track down corrupt officials
  • Zhou Yongkang expelled from CCP and face prosecution
  • Former Vice president of COSCO sentenced to 10 years in prison
  • Ling Jihua under investigation for serious disciplinary violations
  • Executive at Nissan joint venture under investigation
  • Chinalo’s ex-chief expelled from the party for bribery


  • Thailand prince divorced his princess whose family is under corruption investigation
  • CEO of Thailand’s Wind Energy arrested amid graft scandal


  • Five firms signed non-corruption agreement with Cambodia’s Anti-Corruption Unit (ACU)
  • Cambodia slightly improves in corruption ranking


  • New anti-corruption bill awaiting approval by the Indian parliament
  • 1,199 corruption cases filed this year, highest in ten years

South Korea

  • State auditor to request disciplinary actions against Navy Chief
  • New anti-corruption bill vetoed by legislature


  • Former minister interrogated for BLBI scandal


  • Laws to be amended to deal with corrupt business dealings in private sectors
  • Heavier penalties to be given to bribers


  • Court rejected acquittal pleas of former president in corruption cases


  • Japan and Vietnam to strengthen cooperation to fight corruption in ODA projects


  • Former executives at ST Engineering charged with bribery and fraud


  • Supreme Court unveiled three-year plan to reform graft-plagued judicial system


  • Bank of Tokyo-Mitsubishi UFJ to pay US$315 million to New York Department of Financial Services
  • Further Japanese companies implicated in U.S. DOJ investigation into automotive parts industry


  • ANZ traders implicated in possible manipulation of bank bill swap rate
  • Eddie Obeid stripped of his Order of Australia medal
  • Independent Commission Against Corruption (ICAC) in High Court appeal

United States

  • Department of Justice imposes US$772 million criminal penalty on Alstom S.A.
  • US Federal Appeals Court vacates insider trading convictions of hedge fund traders
  • OFAC expands sanctions against Russia and North Korea