China

TI welcomes China's commitment to beating corruption

Transparency international has published a press release supporting the recent commitment by China's Premier Li Keqiang to combat corruption and stop those who consider themselves above the law. TI welcomed the recent steps taken by the Chinese government stating that it is crucial for a country as important as China to uphold best international practices both at home and abroad.

India

RBI probing charges of money laundering at ICICI, HDFC & Axis Bank

The Reserve Bank of India has begun a probe into allegations that staff at Axis Bank, HDFC Bank and ICICI Bank encouraged customers to evade tax-payments and conceal funds overseas. The probe follows allegations by an online news provider which claimed that staff were helping customers do deals which violated tax enforcement laws. 

Indian government approve changes to bill to tackle bribery by foreigners

The Indian government have approved changes in proposed legislation to make giving/accepting a bribe by a foreign public official a criminal offence; punishable by up to seven years' imprisonment among other penal provisions. At present bribery of foreign nationals is not covered under domestic Indian anti-corruption provisions. The Bill gives the government power to capture, seize and confiscate property of offenders and provides for extradition of the accused official. The proposed legislation is a mandatory obligation under the United Nations Convention Against Corruption (UNCAC), which was ratified by India on May 9, 2011.

South East Asia

Private businesses take lead in Thai graft battle

The Thai Institute of Directors (IOD), joined by six other key private sector organisations, is organising the Collective Action Coalition Against Corruption (CAC). The initiative demonstrates the importance of private sector approaches to addressing corruption. The IOD has assembled a coalition of companies and businesses committed to combating corruption in Thailand with both technical and financial support from the US based Centre for International Private Enterprise (CIPE). In order to join the CAC a company must: sign the declaration which lays out proactive steps to reduce corruption related activities; agree to share best practices; and submit to external evaluation documents to assess whether they have followed through on anti-corruption promises. The anti-corruption movement is significant because private businesses understand that joining the CAC may take considerable time and resources, and may result in significant organisational changes yet businesses are joining in droves. Private businesses are not only interested in fighting corruption but are willing to take concrete steps to do so