Compliance Risk

Corruption News: U.K. House of Commons Passes Magnitsky Amendment

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Bribery:

A new U.S. Justice Department official discussed the future of FCPA enforcement. (GAB)

Cybercrime:

China is suspending all coal imports from North Korea for a year, and experts said to expect more cybercrime as a result. (Reuters, Time)

A talking doll can be taken over by hackers to spy on children, German authorities warned, telling parents to destroy the doll. (NY Times, Guardian)

Moscow wants facts on the alleged Russian hacking of the U.S. election. Meanwhile, U.S. investigations continue and the hacking allegations loom over an election to lead the Democratic party. (Bloomberg, AP, Politico)

Scammers are taking over people’s computers and demanding ransom. (BBC)

Fraud:

Bulgaria is investigating its defense contracts for fraud. (Reuters)

A Canadian fraud-detection agent was arrested for her role in an alleged money-laundering scheme. She didn’t appear to be contacted. (CBC, Toronto Star)

Money Laundering:

Vatican authorities froze more than two million euros in cases of suspected money laundering in 2016. (Reuters)

Spain’s Princess Cristina was cleared in a tax-evasion trial but her husband was sentenced to prison. (BBC, SKY)

Minutes after an Austrian court approved Ukrainian oligarch Dmitry Firtash’s extradition to the U.S. on bribery charges, he was detained again on Spanish claims of money laundering. (Guardian, Reuters)

Authorities in El Salvador said they arrested 10 people for helping former President Elias Antonio Saca launder $22 million of public money. They didn’t appear to be contacted. (OCCRP)

China will strengthen anti-money laundering supervision activities and improve mechanisms to prevent money laundering, the central bank said. (Reuters)

Pakistan’s state bank introduced new anti-money-laundering measures. (Express Tribune)

Kim Dotcom can be extradited to the U.S. to face money-laundering charges. (Guardian, AP)

A small bank is taking on customers considered too risky for money-laundering reasons. (American Banker)

The Indian quest to bring back a tycoon to face money-laundering charges continues. (Hindustan Times, Moneycontrol)

Sanctions:

The U.K. House of Commons unanimously passed its own version of the Magnitsky Act, turning the U.K. into a hostile place for kleptocrats. (OCCRP, Guardian, BBC)

Russia is preparing new sanctions on North Korea. (Moscow Times)

Sanctions helped this Russian CEO. Ukraine wants more sanctions on Russia after Moscow began accepting passports from eastern Ukrainian territories. (Forbes, AP)

Terrorism Finance:

The Islamic State’s business model is failing, a study says. (Washington Post, AP)

Transparency:

Panama Papers: European lawmakers continue their investigation of the leak. A Pakistani case will be decided soon. (Malta Today, Malta Today, Malta Independent, Daily Times, Nation)

The background of the repeal of an extractive disclosure rule is here. (Rolling Stone)

Whistleblowers:

The U.S. Justice Department joined a whistleblower lawsuit against UnitedHealth. The firm couldn’t be reached. (Healthcare Finance)

General Anti-Corruption:

Zimbabwean President Robert Mugabe celebrated his 93rd birthday by dismissing corruption allegations against him. (Reuters)

Italy is seeking a cure for the cancer of corruption. (AFP)

A former Afghan interior ministry official was jailed for 12 years for corruption. (Khaama)

Nigeria’s anti-graft agency secured 1,500 convictions last year. (Premium Times)

Lawmakers are investigating payments from Russia received by former national security adviser Michael Flynn. (Yahoo, New Yorker)

Protesters marched in Panama and France against corruption. (AFP, AP)

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