January 2014

In the first Financial Crime Update of 2014 we consider two on-going investigations into alleged misconduct at major multinational companies and report on further charges brought in the US in connection with the alleged manipulation of Libor. It is disappointing to note that OECD member states are still failing to comply with internationally agreed standards to prevent money laundering. However, the limitations of anti-fraud and bribery statutes in jurisdictions as developed as Hong Kong and France highlight the difficulties faced by administrations in their fight against corruption.

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