ALLEN & OVERY EUROPEAN WHITE COLLAR CRIME REPORT Q1 2018

In the latest edition of the law firm’s review, Allen & Overy  –

  • identifies an increasing trend by national courts across a number of jurisdictions, particularly France and Italy, to apply extraterritorial jurisdiction to a number of criminal offences committed by corporates;
  • the increasing use of Deferred Prosecution Agreements and similar tools – most notably in France but now potentially in Germany;
  • the long-awaited first contested trial for corporate failure to prevent bribery;
  • progress on the 5th Money Laundering Directive, even while 4th Directive continues to be implemented in a small number of jurisdictions;
  • the extra-territorial reach of French AML laws in French carbon tax scam litigation;
  • the German FIU reportedly faces administrative challenges following reorganisation;
  • in Spain, the proceeds of tobacco smuggling are deemed not illicit, because where smuggling leads to profits of less than €150,000, such activities are deemed in Spain to be administratively illegal, not criminal;
  • in the UK, the JMLSG publishes updated guidance On AML/CFT in asset finance and syndicated lending;
  • success in acting to reinstate Romania’s best-known anti-corruption magistrate.

It details the status of the implementation of the 4th Money Laundering Directive in the Member States.

http://www.allenovery.com/SiteCollectionDocuments/7248636-v1-Allen_Overy_European_White_Collar_Crime_Report_Q1_2018.PDF

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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