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Westpac signs Australia’s largest corporate settlement over money laundering breaches

Westpac signs Australia’s largest corporate settlement over money laundering breaches

September 24, 2020, GIR

Australia’s attorney general called the bank’s anti-money laundering record “abysmal” after it agreed to pay a fine that is close to double the previous highest corporate penalty in the country.

Finma orders monitoring of private bank over lax due diligence on Angolan client

Finma orders monitoring of private bank over lax due diligence on Angolan client

September 24, 2020, GIR

The Swiss market regulator has imposed a monitor to oversee Bank SYZ’s anti-money laundering compliance after the Geneva-based lender breached due diligence requirements for high-risk customers.

Steven Peikin: “We faced incredible headwinds”

Steven Peikin: “We faced incredible headwinds”

September 24, 2020, Just Anti-Corruption

The SEC’s former co-director of enforcement recounted working through Supreme Court-imposed restrictions, a hiring freeze and investigations hampered by the coronavirus pandemic.

SEC adopts whistleblower reforms

SEC adopts whistleblower reforms

September 23, 2020, Just Anti-Corruption

The SEC has approved changes to its whistleblower programme, but two commissioners expressed concern about the discretion now given to the agency in determining the size of an award.

DOJ charges put spotlight on Vitol

DOJ charges put spotlight on Vitol

September 23, 2020, Just Anti-Corruption

US prosecutors on Tuesday accused a Vitol trader of paying a bribe to secure a $300 million contract. “We deny the allegations and will see everyone in court,” the trader’s lawyer said.

SDNY and EDNY prosecutors prepare to resume jury trials

SDNY and EDNY prosecutors prepare to resume jury trials

September 23, 2020, Just Anti-Corruption

Criminal division chiefs in both Manhattan and Brooklyn walked through preparations to resume jury trials next month amid coronavirus restrictions. Meanwhile, a Second Circuit judge predicted that there could be a spike in bench trials.

DOJ prosecutor: compliance departments must be nimble in face of pandemic

DOJ prosecutor: compliance departments must be nimble in face of pandemic

September 23, 2020, GIR

A senior DOJ official has warned companies against reducing the size of their compliance teams amid the financial downturn caused by the coronavirus pandemic.

Counsel Watch: the lawyers working on two major UK SFO prosecutions

Counsel Watch: the lawyers working on two major UK SFO prosecutions

September 23, 2020, GIR

In the latest counsel watch, the firms that are acting on the UK Serious Fraud Office’s prosecution of an alleged corruption scheme at Airbus’s Saudi subsidiary and the practitioners representing former G4S executives accused of fraud.

Congress considers how to utilise FCPA fines

Congress considers how to utilise FCPA fines

September 22, 2020, Just Anti-Corruption

US lawmakers are mulling whether to use a portion of FCPA fines to finance anti-corruption efforts overseas.

Sargeant Marine pays $16 million over sprawling Latin America bribery scheme

Sargeant Marine pays $16 million over sprawling Latin America bribery scheme

September 22, 2020, Just Anti-Corruption

An asphalt company has admitted to paying bribes to a host of officials at companies that are already being investigated in the US over widespread corruption schemes: Petrobras, PDVSA and PetroEcuador.