Bribery and Corruption

Three London homes worth more than £80m have been frozen by the High Court in the second-ever use of anti-corruption orders to stop foreigners laundering cash in the UK.

The Unexplained Wealth Orders (UWOs) were sought last week against a foreign official who was not named in court.

https://www.bbc.co.uk/news/uk-48438014

MPs and peers say plans for register of foreign-owned property should not be delayed

Five banks have been fined €1.07bn (£935m) by the European Commission after traders clubbed together to rig the foreign exchange market.

Corruption may be nearly as old as human history. As global economy expanded substantially during the 20th century, proceeds of corruption increased in absolute terms.

Ex-Prime Minister Najib on trial in first of a series of prosecutions related to alleged theft of billions of dollars.

New research from the International Monetary Fund (IMF) shows that curbing corruption would deliver an additional US$1 trillion in tax revenues annually across the world, money that could support much needed investments in health, education and infrastructure.

https://www.transparency.org/news/feature/the_trillion_dollar_question_the_imf_and_anti_corruption_one_year_on

The Select Committee on the Bribery Act 2010 has published its post-legislative scrutiny report, concluding that the Act is exemplary. Following 23 oral evidence sessions and 61 written submissions, the Committee agreed with the view of the witnesses and other contributors that the Act is working well, and is an example to other countries, especially developing countries.

https://www.parliament.uk/business/committees/committees-a-z/lords-select/bribery-act-2010/news-parliament-2017/bribery-act-2010-report-publication/

Report of Session 2017-19 - published 14 March 2019 - HL Paper 303

Eurasian Natural Resources Corporation (ENRC) is suing the UK's fraud agency for £70m over its conduct during a long-running probe into alleged corruption at the Kazakh miner.

http://www.cityam.com/275321/mining-giant-enrc-sues-uk-fraud-office-70m-over-long

Former deputy prime minister Nick Clegg has hit back at allegations he requested information on a company which later became a client of his wife’s law firm.