All Malaysia articles
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PremiumUpdated UFLPA enforcement strategy targets aluminum, PVC, seafood imports
U.S. Customs and Border Protection will make it a priority to check shipments of aluminum, polyvinyl chloride, and seafood from China and elsewhere in the region for links to forced labor, according to an updated Uyghur Forced Labor Prevention Act enforcement strategy.
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News BriefWashington state importer ordered to hire CCO in response to Lacey Act violations
A Washington state importer has been ordered by the Department of Justice to pay a $360,000 fine and hire a chief compliance officer after imported wood items the company claimed to be from Malaysia were found to be from China.
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PremiumCBP stats show persistent problem areas under UFLPA
It’s been nearly two years since the Uyghur Forced Labor Prevention Act took effect, and as enforcement statistics and recent reports demonstrate, many businesses are still not adequately vetting their supply chains.
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PremiumCW2023: CBP official on early impact of Uyghur forced labor law
Customs agents have flagged thousands of products marked as made in Malaysia, Vietnam, or elsewhere in accordance with the UFLPA, an official from U.S. Customs and Border Protection shared during a panel at Compliance Week’s 2023 National Conference.
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ArticleEx-Goldman banker convicted of FCPA violations in 1MDB case
Roger Ng, one of the central figures of the Goldman Sachs 1MDB scandal, was found guilty by a federal jury of conspiring to violate the Foreign Corrupt Practices Act and commit money laundering.
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ArticleGoldman Sachs 1MDB fallout a case study for bonus risks
As Goldman Sachs cuts the pay of its top executives in response to more than $5 billion in penalties incurred for the 1MDB scandal, Martin Woods once again ponders whether bonuses helped facilitate the improper conduct that took place.
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ArticleReport: Fines against financial institutions hit $10.4B in 2020
Financial institutions have been hit with $10.4 billion in global fines and penalties related to AML, KYC, data privacy, and MiFID regulations in 2020, according to a recent Fenergo report.
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Blog
If geopolitical risks change, scrub your operations
The recent political upheavals in South Africa and Malaysia should serve as a reminder for companies to review their operations in politically evolving countries in which they might have conducted government business.
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Blog
Check your Hermès handbags and bank accounts
The scope of the corruption that befell 1MDB funds continues to widen, with an investigation uncovering a staggering amount of loot from the home of former Prime Minister Najib Razak. For companies doing business in or with Malaysia, now is the time to make sure all operations are free from ...
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Blog
Malaysia gets new PM; further probes of prior regime coming
The election of a new Prime Minster in Malaysia has heralded a potential investigation into the allegations of massive corruption carried out by the prior administration surrounding the country’s sovereign wealth fund, 1MDB.
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Blog
AML due diligence for non-financial institutions: the next big thing in compliance?
What does the 1MDB scandal portend for non-financial companies and anti-money laundering compliance? Plenty, especially if they haven't reviewed their AML policies and procedures in the last 12 months. Tom Fox reports.