White Collar Crime updates

Brazil

What now of the Faustian bargain? Moro's exit and its impact on anti-corruption efforts
Hogan Lovells
  • Brazil
  • 08 June 2020

The resignation of former Operation Car Wash judge and world-renowned anti-corruption crusader Sergio Moro as minister of justice and public safety has sent shockwaves throughout Brazil's political class. Easily the Bolsonaro administration's most recognised and admired cabinet member, Moro's departure via a televised press conference, where he accused the president of trying to interfere in ongoing investigations involving his family members, was likely not how he had envisioned his tenure ending.

Anti-corruption: legislative changes and enforcement
  • Brazil
  • 15 April 2019

Brazil has seen extensive legal changes and enforcement efforts against corruption over the past few years. As a result, local and multinational companies active in the region have increased their anti-corruption compliance efforts, particularly by introducing more frequent and comprehensive anti-corruption risk assessments and touchpoints with government entities and officials, as well as strengthening their anti-corruption compliance programmes.

New government measures to tackle corruption: does the buck stop here?
  • Brazil
  • 18 March 2019

Despite the steps taken by Brazil to fight corruption in recent years, it remains one of the main challenges for the country. Mindful of this, the new government – which came into power in 2018 on the back of its vow to fight corruption – has promised a series of measures to tackle the issue. The measures include toughening prison sentences for corruption-related crimes, separating investigations involving high-level officials and making illegal campaign donations a criminal offence.

Brazilian enforcement in 2019: what to expect
  • Brazil
  • 21 January 2019

The new year started with a new government taking office. Naturally, this has led many to speculate what the government's priorities and policies will be. In particular, enforcement policies are receiving more attention than during previous inaugurations, largely due to the widespread corruption scandal following Operation Car Wash and the appointment of Sergio Moro (former lead judge overseeing Operation Car Wash) as the minister of justice.

Digital evidence, criminal investigations and due process of law
  • Brazil
  • 10 December 2018

The Superior Court of Justice recently appraised a noticeable theme regarding personal data protection from a criminal law perspective: the validity of police evidence obtained from smartphones without a specific judicial order to do so. The precedent has had a strong effect on investigations of varying scope and importance. Two recent examples occurred in the wake of high-profile anti-corruption and anti-money laundering investigations.


Cayman Islands

Q&A on Cayman AML regime: service providers, delegation and risk-based approach
  • Cayman Islands
  • 17 June 2019

The government and the Cayman Islands Monetary Authority are well aware that it is imperative that the Cayman Islands is not only perceived to, but does in fact, play a central role in the global fight against money laundering and terrorist financing. At the same time, there is a deep understanding of the need to remain competitive and commercial. This article addresses a number of key questions concerning the 2018 amendments to Cayman's anti-money laundering regime.


China

Authorities ramp up enforcement of foreign companies' non-compliance with national anti-bribery laws
AnJie Law Firm
  • China
  • 07 October 2019

The prosecution of commercial bribery has once again become a key issue following the amendment of the Anti-unfair Competition Act. With the restructuring of the act's anti-bribery provision – which dovetailed with the national anti-corruption movement – the government appears to be cracking down on unlawful commercial activities by both domestic and foreign companies. To guide companies in this regard, this article provides an intuitive roadmap to the Chinese anti-bribery regulatory scheme.

Enhanced regulation of illegal payment and settlement business and FX trading
  • China
  • 15 April 2019

Criminal activities such as illegal payment and settlement business and FX trading have become increasingly rampant in recent years. Although these activities have been classified as business crimes in various laws and regulations, the applicable penalties have been unclear. However, new interpretations of the Supreme People's Court and the Supreme People's Procuratorate set out the applicable convictions and penalties for illegal business operations involving FX trading and payment and settlement business.


France

France tightens rules on state immunity
Hughes Hubbard & Reed
  • France
  • 12 November 2018

Articles 59 and 60 of Law 2016-1691 (the Sapin II Law) on transparency, anti-corruption and the modernisation of economic life established a system of immunity from the execution of civil judgments on property in France which is owned by foreign states. The main purpose of this aspect of the Sapin II Law is to limit the risk of litigation arising from seizures or attachments of property belonging to foreign states.


Guernsey

National risk assessment: implications for businesses
  • Guernsey
  • 13 July 2020

In January 2020 the Bailiwick published its national risk assessment (NRA), which identifies jurisdiction-wide and systemic risks to which its financial system is deemed particularly vulnerable. Individual specified businesses were initially given until the end of May 2020 to update their business risk assessments in light of the NRA, but some timeframes have been extended in response to the COVID-19 pandemic. This article examines the contents of the NRA and the implications for specified businesses in the Bailiwick.