Appears on
Articles16
Manhattan DA and SFO announce collaboration on telecoms fraud probes
The UK’s Serious Fraud Office and the Manhattan state prosecutor’s office are conducting parallel investigations into fraudulent schemes centred on telecommunications companies.
Malaysia fines Japanese group’s bank for onboarding sanctioned client
Swiss prosecutors abandon informal corporate settlement add-ons
The Office of the Attorney General of Switzerland has agreed to stop using informal letters to “relativise” corporate criminal convictions. Local lawyers told GIR that the controversial practice highlights the country’s lack of a deferred prosecution mechanism.
FCA censures Crédit Agricole UK subsidiary over weak controls
The FCA’s joint head of enforcement said the regulator imposed a public censure rather than a fine because the company “chose to do the right thing” by agreeing to pay almost £32 million to clients of a collapsed wealth management company.
HMRC fines former Petrofac subsidiary over Russia sanctions breaches
Petrofac Management Solutions is the first entity to be named in a compound settlement announcement. The UK customs agency said it may include identification as a condition when offering such settlements to companies in the future, marking a shift in approach.
New FATF president, head of UK sanctions enforcer, sets fraud-focused agenda
SFO closes fraud investigation into collapsed property redeveloper
Geneva probes former first lady of Gabon over suspected money laundering
Prosecutors allege that Sylvia Bongo – who is represented by a prominent Swiss firm – transferred “several million euros” to an unnamed Geneva-based bank, even though she and her family members “were suspected of bribery of foreign public officials and misappropriation of public funds”.
FCA penalty consultation is a “missed opportunity” for change, experts say
A former senior lawyer at the UK’s financial regulator told GIR that the proposed changes “unsurprisingly… only seek to benefit the FCA” and that the agency’s penalty determination process remains “far from transparent”.
Austrac mandates overhaul of AML controls at British gambling company
UK proposes corporate financial penalties for Modern Slavery Act non-compliance
NCA seeks $357k from sanctioned Russian-Cypriot linked to Gazprom
A 30-year-old man sanctioned in the UK for alleged ties to the Russian government will fight a civil forfeiture attempt brought by UK law enforcement.
Netherlands central bank fines ABN Amro €8.5m over AML failings
OM probes local branch of Saudi state-owned company over alleged chemical dumping
UK court dismisses Russia sanctions case against art gallery
A London judge has thrown out a sanctions breach charge against the local branch of Hauser & Wirth for selling a painting to a Russian national, ruling that the prosecution could not prove the buyer was residing in Russia when the painting was sold.
French Anti-Corruption Agency imposes first-ever direct penalty
The enforcement body has, for the first time, imposed a fine on a company rather than seek a compliance injunction, an order requiring a company to fix deficiencies in its anti-corruption programme within a specified period.