Fica money in water

Financial Intelligence Centre Amendment Bill – Back to basics

The Financial Intelligence Centre Amendment Bill [B33-2015] was published for comment on 29 April 2015. The parliamentary process is complete and the Bill is now awaiting presidential assent. Little has been made of this Bill in the media, perhaps because the changes envisaged by the Bill has no apparent nor immediate impact on ordinary consumers.

For accountable institutions (identified in FICA), however, the Bill is a call to action. It is an opportunity for businesses to take ownership of their processes to combat money laundering and terrorist financing activities. Merely ticking the boxes will no longer suffice. Read more

Not Whether But When

The country is experiencing a unique period in its history.  After being largely frozen in time since the Revolution, it’s clear that change is coming and likely coming fast.

4 ways to fix what's wrong with accountability

The chief end of accountability is nudging people toward their potential by leveraging untapped talent. The secondary end of accountability is getting things done.

FCPA Pilot Program Sheds New Light on the Value of Self-Disclosure

On April 5, the DOJ issued a Pilot Program that provides its latest  answer to a critical question in FCPA practice: What benefits does a company receive for self-reporting potential FCPA violations?

Lessons from Singapore

“I had never seen an ad about anti-corruption while taking public transport – until last week in Singapore.”

Council held liable for clean up costs of 100 year old ‘abandoned’ contamination

Be careful when you purchase land you know to be contaminated and be careful when you sell land without remediating known contamination first; these are the lessons learned from the Victorian Supreme Court decision in Metropolitan Fire and Emergency Services Board v Yarra City Council & Ors [2015] VSC 773.

'Red flags' that signal companies at risk of a corporate scandal

Scandals such as VW’s “dieselgate”, bankers rigging interest rates and Tesco’s accounting black hole will not be prevented by hitting business with tighter regulation, according to a new report.


Slovakia: Criminal Liability of Legal Persons Introduced

On November 13, 2015, the Slovak Parliament adopted an act which has introduced the concept of criminal liability of legal persons. The act was published in the official collection of acts as Act No. 91/2016 Coll. on Criminal Liability of Legal Persons (the “Act”). The effective date of the Act is July 1, 2016.

‘Tis the Season to Revisit Gift-giving Policies and Procedures

During holidays and throughout the year, organizations should consider revisiting their policies and procedures related to gift giving, as opportunities for corruption abound.

Holding Corporate Officers Accountable: Challenges for the Justice Department’s FCPA

When senior government prosecutors discuss their white collar enforcement priorities, the prosecution of individuals frequently tops their list. Last fall, the Deputy Attorney General ordered all federal prosecutors to prioritize prosecutions of individuals accountable for corporate misconduct, and she made corporations’ ability to receive cooperation credit in criminal settlement agreements contingent upon the corporation providing “all relevant facts about the individuals involved in the corporate misconduct.”