Search for:
Category

White Collar Crime

Category
In

Singapore: Government proposes full SMS Sender ID registration to enhance protection against scams

by , , and 3 Mins Read

As part of an ongoing approach to combat scams, the Infocomm Media Development Authority (IMDA) has proposed new measures to reduce the ability of scammers to spoof their identity by using the same alphanumeric sender identification (“SMS Sender ID”) used by bona fide businesses. To further enhance consumer protection, the IMDA intends to make Singapore SMS Sender ID Registry (SSIR) registration mandatory for organisations who wish to use SMS Sender IDs.
Organisations using SMS Sender IDs must register with the SSIR using their Unique Entity Number (UEN) and aggregators handling SMS with Sender IDs must also participate in the SSIR and verify organisations via their UENs.

Read More
In Antitrust / Competition

Australia: Significantly increased CCA/ACL penalties and prohibitions on Unfair Contract Terms are on the horizon

by , , , , , , and 2 Mins Read

On 28 September 2022, the Government introduced the Treasury Laws Amendment (More Competition, Better Prices) Bill 2022. If passed, the Bill will: introduce a civil penalty regime prohibiting the use of and reliance on unfair contract terms in standard form contracts; increase the maximum penalties that may be awarded for breaches of the civil penalty provisions in Parts IV, IVBA, X and XICA of the Competition and Consumer Act 2010 (and under the Australian Consumer Law to the greater of AUD 50 million, if the court can determine the value of the benefit obtained — three times the value of that benefit, if the court cannot determine the value of the benefit obtained — 30% of the body corporate’s adjusted turnover during the breach turnover period for the offence, act or omission, and increase the maximum civil penalty for breaches by telecommunications providers of the Competition Rule, to up to AUD 71 million plus AUD 3 million for every day that a contravention continues in the most serious cases.

In AML & Financial Services Regulatory

United Kingdom: UK government targets money laundering with a new economic crime bill

by and 4 Mins Read

In September 2022, the government sought to reinforce its commitment to curbing money laundering in the UK by introducing the Economic Crime and Corporate Transparency Bill. The draft bill represents a substantial overhaul to Companies House, which, if implemented, will affect how all companies, partnerships and limited partnerships are established. It is the second piece of legislation targeting economic crime following the Economic Crime (Transparency and Enforcement) Act 2022, which was introduced in March 2022.

In White Collar Crime

United States: This Week in Government Enforcement (Video Chat)

by 13 Mins Read

Please join us for a weekly series, hosted by Baker McKenzie’s North America Government Enforcement partners Jeffrey Martino and Jerome Tomas.
This weekly briefing is available on demand and will cover hot topics and current enforcement actions related to white collar crime and criminal investigations in the US and abroad to arm you with the information you need for your business week.
This week’s discussion covers Deputy Attorney General Lisa Monaco’s memorandum revising Federal Corporate Criminal Enforcement Policies.

Read More
In AML & Financial Services Regulatory

United Kingdom: Government targets money laundering with a new economic crime bill

by 4 Mins Read

On 22 September 2022, the government sought to reinforce its commitment to curbing money laundering in the UK by introducing the Economic Crime and Corporate Transparency Bill. The draft bill represents a substantial overhaul to Companies House, which, if implemented, will affect how all companies, partnerships and limited partnerships are established. It is the second piece of legislation targeting economic crime following the Economic Crime (Transparency and Enforcement Act) 2022, which was introduced in March 2022.

In Whistleblowing

European Union: European Whistleblowing Directive

by , , , , and 3 Mins Read

The European Whistleblowing Directive was to be implemented by the European Union’s 27 member states by no later than 17 December 2021, impacting employers with operations in those jurisdictions. Member states are still passing their implementing legislation, meaning employers are facing a period of intense activity as they adapt to changes in legislation across the region.

In Trade and Foreign Investment

European Union: EU proposes obligations on firms to address shortages of goods and services in times of crisis

by , and 6 Mins Read

On 19 September 2022, the European Commission adopted a proposal that would give the EU sweeping new powers to address shortages and supply chain disruptions of crisis-relevant and strategic goods and services in times of crisis. The proposed Single Market Emergency Instrument (SMEI) is the latest in a series of EU measures that will impact supply chains, including new proposals for rules on foreign subsidies, corporate sustainability reporting and due diligence, carbon taxes, deforestation, and, most recently, a proposal to prohibit products made with forced labor from the EU internal market. Once adopted, the SMEI will impose far-reaching obligations on EU firms.

Read More
In Employment

South Africa: It is not a one-size-fits-all when dismissing employees involved in violent protests says the Constitutional Court

by and 4 Mins Read

The Constitutional Court in South Africa recently clarified the application of the doctrine of common purpose in the employment law context. The Constitutional Court answered the question as to whether an employer may apply the doctrine of common purpose to dismiss employees for misconduct where the employees were spectators to a violent assault during an unprotected strike. This decision has implications for employers who intend to dismiss employees for these reasons.

In White Collar Crime

United States: Latest Monaco Memo addresses key areas of the Department of Justice policy on Corporate Criminal Enforcement

by , , , , , , , , , and 3 Mins Read

On 15 September 2022, Deputy Attorney General Lisa Monaco issued a memorandum to Department of Justice prosecutors entitled “Further Revisions to Corporate Criminal Enforcement Policies Following Discussions with Corporate Crime Advisory Group”. As has become common in recent years (with a brief intermission under Deputy Attorney General Rod Rosenstein who objected to the practice), such memoranda and other Department pronouncements have come to herald key developments in DOJ policy on corporate criminal enforcement and related practice. These memoranda are therefore closely watched by the defense bar and corporate counsel alike.

In Antitrust / Competition

Malaysia: Competition Appeal Tribunal overturns MyCC’s decision against the General Insurance Association of Malaysia and its members

by and 5 Mins Read

In 2020, MyCC imposed a total financial penalty of RM173 million against the General Insurance Association of Malaysia (PIAM) and its 23 members for alleged price-fixing of trade discounts on automotive parts prices and hourly labour rates for motor vehicle repairs by workshops under the PIAM Approved Repairers Scheme in breach of the Competition Act 2010. PIAM and the general insurers appealed to the Competition Appeal Tribunal (CAT). In September 2022, the CAT found that there was no liability on the part of the general insurers and PIAM under the Malaysian Competition Act and unanimously overturned MyCC’s decision.

Read More
Load More