Corporate fraud & corruption
February 2023 | SPECIAL REPORT: CORPORATE FRAUD & CORRUPTION
Financier Worldwide Magazine
February 2023 Issue
Q&A: Offshore AML regulation and enforcement
The imposition by CIMA of fines under its administrative fines regimes demonstrates CIMA’s willingness to pursue enforcement actions and impose sanctions where FSPs fail in their AML/CFT compliance. FW discusses offshore AML regulation and enforcement with Miriam Smyth at Appleby.
International executives facing a US internal investigation: what to consider
Lankler Siffert & Wohl LLP Corporations and their US counsel often find themselves conducting investigations beyond US borders. It is thus increasingly likely that international executives will experience a US-style corporate investigation at some point.
King & Spalding LLP The authorities now believe that the most probative evidence is likely to be found not only in emails but in chat messages as well. And they have begun to change enforcement policies to incentivise employers to access and produce chat messages as a top priority.
New protections and financial incentives for whistleblowers in the US
Skadden, Arps, Slate, Meagher & Flom LLP Financial institutions and other companies covered by AML and sanctions laws should evaluate their existing internal whistleblower programmes to ensure that they comply with the new law and encourage internal whistleblowing by employees.
The FCPA’s statutory defences and considerations for corporate compliance
Steptoe & Johnson LLP Counsel and compliance personnel responsible for advising employees need to have a solid understanding of FCPA exceptions and defences to provide timely and practical advice in real-life situations.
Money laundering regulations and enforcement in the UK
PCB Byrne LLP There is an obvious tension between the relevant authorities’ civil powers to fine for UK Money Laundering Regulations breaches and in some instances their parallel power to criminally prosecute for the same conduct.
Economic crimes and supply chain diligence: a ‘how to’ compliance guide
Osler, Hoskin & Harcourt LLP Having an effective plan, a ‘tone at the top’ of compliance, effective policies and procedures, and ongoing monitoring is critical to mitigating the risks associated with often complex supply chains.
Corruption prevention: monitor and address human behaviours
Intelligent Sanctuary Ltd. Corruption prevention is not just about having the right policies in place, but more about how they live within an organisation on a day to day basis. The underlying issue is having robust systems in place that monitor and address human behaviours.
Are privacy laws compatible with corporate transparency?
Covington & Burling LLP The EU and the UK will need to consider the extent to which privacy rights and laws should impact upon measures designed to combat money laundering and terrorist financing and to promote corporate transparency more generally.
Application of civil remedies to cryptocurrency
Bennett Jones LLP The world of cryptocurrency and digital assets is new and growing at a rapid rate, presenting novel legal issues to the courts and investors alike.
Q&A: Cryptocurrency and financial crime
Governance, controls, compliance technology and employee competence at all levels are key to mitigating financial crime risk. FW discusses cryptocurrency and financial crime with Hakob Stepanyan at BDO.
CONTRIBUTORS
Appleby
BDO
Bennett Jones LLP
Covington & Burling LLP
Intelligent Sanctuary Ltd.
King & Spalding LLP
Lankler Siffert & Wohl LLP
Osler, Hoskin & Harcourt LLP
PCB Byrne LLP
Skadden, Arps, Slate, Meagher & Flom LLP
Steptoe & Johnson LLP