October 2014


The Financial Crime Update provides regular insights highlighting recent developments in financial crime. We are sending you Financial Crime Update as you have previously received its sister publication, Regulatory Investigations Update, which has featured financial crime news until now.

In this Update, with contributions from our global offices and Allens, our partners in Australia, we will be reporting on some of the main developments across the globe in policy, legislation, investigations and case-law relating to bribery, fraud and corruption and considering the impact they may have on commercial organisations.

Jurisdictions across the globe are increasingly recognising the need to adopt a consistent approach to corruption issues. This month's issue of Business Crime Quarterly is dominated by new legislative initiatives which nonetheless look familiar.

The new law under debate in Australia mirrors the step taken recently by the European Union to increase corporate transparency. In France and Luxembourg new measures are being adopted to close potential loopholes in information security.

The fight against corruption in Asia continues with the proposal of new measures against the bribery of foreign public officials. Meanwhile, in the UK, the Serious Fraud Office (“SFO”) continues its drive towards enforcement with several new high profile investigations being announced. However, all this progress must be set against the background of the latest Transparency International report that over half of the signatories to the OECD anti-corruption convention are taking no meaningful enforcement action at all.

Download entire issue (as pdf)