Global Glimpses

Three former senior employees of the F.H Bertling Group were today sentenced at Southwark Crown Court, the U.K. Serious Fraud Office announced.

Singapore’s Corrupt Practices Investigation Bureau charged a former senior procurement officer of Keppel Shipyard, a wholly-owned subsidiary of Keppel Offshore & Marine, with 395 counts of corruption.

The European Union and the tech industry are locked in a perpetual struggle over taxation, but the EU is making moves to close certain tax avoidance avenues for good.

Daphne Caruana Galizia, a relentless advocate for exposing the truth about corruption on the island of Malta and who helped expose its ties to offshore tax havens linked to the Panama Papers, has been killed in a car bombing.

The world of beneficial ownership is seeing a push toward greater transparency that comes on the heels of high-profile corruption scandals at FIFA and Petrobras.

Transparency International U.K. has launched a new online tool that provides up-to-date and in-depth guidance for businesses in understanding and tackling bribery.

The Office of the Attorney General of Switzerland has opened a criminal proceeding against Jérôme Valcke, the former Secretary General of FIFA, and beIN Media Group Chief Executive Officer Nasser Al-Khelaifi for bribery allegations surrounding the award of World Cup media rights.

The second in a series of case studies examining compliance headaches for companies caused by Britain’s decision to exit the European Union looks at MJ Hudson, a small financial services company.

Defense contractor BAE Systems has just dealt a major blow to the U.K. manufacturing sector, following today’s announcement that it will be cutting nearly 2,000 jobs.

The first in a series of case studies looking at Brexit compliance headaches examines what an airline must do in order to continue operating within the EU following a British exit from the Union.

In a report published this week, the Bank of England warned that Brexit poses “significant risks” to U.K. financial services companies, while also declaring publicly for the first time that LIBOR poses a financial stability risk.

The U.K. Serious Fraud Office said that it is conducting a criminal investigation into oil and gas exploration company, Afren, concerning secret agreements with their joint venture partners in Nigeria.

The U.K. Serious Fraud Office announced this week that F.H. Bertling and six current and former employees have been convicted of conspiracy to make corrupt payments in relation to F.H. Bertling’s freight forwarding business in Angola and a contract worth approximately $20 million.

In his annual State of the Union address this month, European Commission President Jean-Claude Juncker proposed a new EU framework for screening of foreign direct investments.

Several banks and other industries are jumping ship from the United Kingdom. But what will this all mean for compliance officers?

The Formula One Group has confirmed that the U.K. Serious Fraud Office is in its “pre-investigation” stage concerning fraud allegations made against it by a U.K. member of Parliament.

Organisations that fail to implement effective cyber-security measures could face significant fines, as part of plans to make Britain’s essential networks and infrastructure safe, secure, and resilient against the risk of future cyber-attacks.

The U.K. government this week published a consultation seeking views on its plans to implement the EU’s Network and Information Systems Directive, which is due to come into force in May 2018.

The U.K. Serious Fraud Office confirmed that it is investigating suspicions of corruption in the conduct of business by British American Tobacco, its subsidiaries, and associated persons over bribery allegations in East Africa.

The Financial Conduct Authority has launched a consultation regarding the government-proposed Office for Professional Body AML Supervision, which sets out draft expectations about how professional body supervisors can meet their AML supervision obligations.

The Netherlands, the U.K., Ireland, Singapore, and Switzerland are the world's leading conduit offshore financial centres, funnelling money from one point to another for the purposes of tax evasion.

The U.K. Serious Fraud Office confirmed this week it has opened an investigation into suspected corruption by mining company Rio Tinto.

The U.K’s new Office for Professional Body Anti-Money Laundering Supervision said that it will tackle potential weaknesses in the supervisory system that criminals and terrorists may be trying to exploit.

If a regulator wants to deflect blame from itself, it had better come up with a set of credible changes and even better—a proper apology.

The U.K. Financial Conduct Authority fined a compliance oversight officer £75,000 for failing to exercise due skill, care, and diligence concerning pension transfer failings.