Bribery and Corruption

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  • 01 Jun 2021 8:30 AM | Anonymous member (Administrator)

    Ten years have passed since the introduction of the UK’s primary anti-corruption law, the Bribery Act 2010 (“the Act”). This article examines the extent to which the Act has lived up to its billing as the international “gold standard”1 for bribery legislation and looks ahead to future trends in UK economic crime enforcement.

    https://www.wilmerhale.com/en/insights/blogs/WilmerHale-W-I-R-E-UK/20210521-bribery-act-2010-ten-years-on#page=1

  • 17 May 2021 9:43 AM | Anonymous member (Administrator)

    Malaysian state fund 1Malaysia Development Berhad (1MDB) has launched a legal bid to recover $23bn (£16.3bn) in assets following a fraud scandal that rocked the southeast Asian country.

    https://www.cityam.com/malaysias-1mdb-launches-legal-bid-to-recover-23bn-in-assets-after-fraud-scandal/

  • 10 May 2021 9:17 AM | Anonymous member (Administrator)

    The UK has imposed its first asset freezes and travel bans under a new sanctions regime targeted at individuals and entities suspected of corruption and bribery overseas.

    https://www.pinsentmasons.com/out-law/news/uk-issues-first-sanctions-under-new-anti-corruption-regime

  • 04 May 2021 7:56 AM | Anonymous member (Administrator)

    On 30 July 2020, the SFO announced it had brought charges against GPT Special Project Management Ltd and three individuals. GPT, Jeffrey Cook, former Managing Director of GPT, and John Mason, the financial officer and part owner of the foreign-registered companies Simec and Duranton, subcontractors to GPT, were charged with corruption between January 2007 and December 2012 in relation to contracts awarded to GPT in respect of work carried out for the Saudi Arabian National Guard.

    https://www.sfo.gov.uk/cases/gpt-special-project-management-ltd/

  • 12 Apr 2021 11:02 AM | Anonymous member (Administrator)

    The spectre of fraud and corruption can hang over any business, irrespective of industry or jurisdiction. Though companies have made great strides to address the risks, COVID-19 has changed the paradigm. The mass migration to remote working in response to the pandemic means more employees are operating with reduced oversight. Now more than ever, companies must implement strategies to prevent fraud to the extent possible. Regular training to help employees recognise fraud should be carried out, as they form the vanguard when it comes to raising red flags. Anonymous reporting systems also encourage staff to come forward with information. If fraud is detected, a thorough investigation should follow, and it may be necessary to notify and cooperate with authorities.

    INDepth Feature Corporate Fraud & Corruption 2021 — Financier Worldwide


  • 05 Apr 2021 8:32 PM | Anonymous member (Administrator)

    The French Anti-Corruption Agency (AFA) has just published the English version of its revised anti-corruption compliance Guidelines. Reflecting three years of experience in implementing France’s landmark Sapin II law, the Guidelines lay out the agency’s recommendations for both the public and private sectors.

    In France, bribery isn't needed to violate the anti-bribery law | The FCPA Blog

  • 29 Mar 2021 10:03 AM | Anonymous member (Administrator)

    The scourge of modern slavery has risen steadily up the public agenda in recent years and it is incumbent on ICAEW members to be vigilant about it, writes ICAEW CEO Michael Izza.

    Ending Modern Slavery: why accountants have a role to play | ICAEW

  • 29 Mar 2021 9:07 AM | Anonymous member (Administrator)

    Following a thorough investigation of the available evidence, the SFO has closed its investigation into the activities of KBR, Inc.’s United Kingdom subsidiaries, their officers, employees and agents. The evidence in this case did not meet the evidential test as defined in the Code for Crown Prosecutors.

    SFO closes investigation into KBR Inc.’s UK subsidiaries - Serious Fraud Office

  • 22 Mar 2021 9:51 AM | Anonymous member (Administrator)

    Two former directors of Northern Ireland-based FP McCann have been banned from running businesses because of their role in an illegal construction cartel.

    Company bans for price fixing McCanns (theconstructionindex.co.uk)

  • 22 Mar 2021 9:13 AM | Anonymous member (Administrator)

    In March 2020, the CMA launched a programme of work to identify, monitor and respond to competition and consumer problems arising from coronavirus and the measures taken to contain it. Since then, regular updates and information have been published on the CMA coronavirus (COVID-19) response pages on GOV.UK.

    https://www.gov.uk/government/publications/update-on-work-of-the-cma-during-the-coronavirus-pandemic-15-march-2021/protecting-consumers-during-the-coronavirus-covid-19-pandemic-update-on-the-work-of-the-cma

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