Welcome to the April edition of Mishcon's Culture vs Corruption Diary, the object of this diary is to provide businesses and their advisors with a snapshot of what is happening in the world of corruption in the last month.
We make no judgement whatsoever as to the morality, legality or appropriateness of the conduct which forms the subject matter of this diary. We simply aim to bring these matters to the attention of those whose responsibility it is to set ethical standards and produce business practice guidelines for the companies they work for, to allow them to make an informed decision on the best practice for their organisation.
John Yates, an Assistant Commissioner at the Metropolitan Police, has told MPs that Police have found new evidence of offences linked to electoral anticorruption laws in the continuing "cash for honours" investigation.
The Independent, 16 March 2007
The Law Commission has been asked to review the existing legislation on corruption. The review will consider, amongst other things, options for bribery offences. A consultation document will be published in November 2007 followed by draft legislation in the autumn of 2008.
The Law Commission of England and Wales, 9 March 2007
Banking and Finance
The US Treasury has banned American banks from dealing with Banco Delta Asia, after an investigation concluded that the Macao bank had helped North Korea launder money.
Financial Times, 14 March 2007
French justice officials have confirmed that they will question Jacques Chirac over allegations of corruption after he steps down as president.
The Daily Telegraph, 16 March 2007
David Mills and Silvio Berlusconi have gone on trial in Milan on charges of corruption.
The Independent, 13 March 2007
The President of Pakistan has asked senior judges to investigate the Chief Justice for alleged corruption. Details of the charges have not been made public, but relate to "serious allegations for misconduct (and) misuse of authority".
The Times, 14 March 2007
Mishcon de Reya
Mishcon's Culture vs Corruption Diary is published by the Corporate Investigations and Asset Recovery Group of Mishcon de Reya Solicitors. Widely recognised as the leader in the field of fraud investigations, the Group has extensive experience in conducting and/or project managing highly sensitive international investigations in respect of bribery and corruption allegations. The Group founded and runs both the Asset Protection & Recovery Network, made up of international legal fraud specialists, and the Financial Fraud Group, for risk and compliance officers.
This article is only intended as a general statement and no action should be taken in reliance on it without specific legal advice.