Mishcon's Culture vs Corruption Diary - September 2012
Welcome to the September edition of Mishcon's Culture vs Corruption Diary. Its aim is to provide businesses and their advisors with a snapshot of what has been happening in the world of corruption in the last month.
We make no judgment whatsoever as to the morality, legality or appropriateness of the conduct which forms the subject matter of this bulletin. We simply aim to bring these matters to the attention of those involved in the prevention, detection and investigation of fraud.
Reports & Surveys
Corruption is rife and getting worse in high-growth export markets promoted by the Foreign Office and Downing Street, according to Andrew Kakabadse, professor at Cranfield University.
The Guardian, 28 August 2012
According to research by GoodCorporation, half of the world's biggest logistics companies are putting themselves and customers at risk of prosecution under new UK bribery laws by failing to publish a complete draft of anticorruption policies.
Financial Times, 6 August 2012
The Serious Fraud Office has stepped up its bribery probe into GPT Special Project Management, a UK subsidiary of EADS, over allegations of corrupt subcontractor payments.
Financial Times, 10 August 2012
The Greek finance ministry has announced that it has signed a settlement with Siemens to settle allegations that Siemens used bribery to secure a raft of contracts for the Athens' Olympic Games in 2004.
The Daily Telegraph, 28 August 2012
Laisenia Qarase, former Prime Minister of Fiji, has been jailed for a year over corruption charges, abuse of office and failing to discharge his duty, relating to his time as a director of Fijian Holdings.
The Times, 4 August 2012
Kim Seung-youn, chairman of South Korea’s Hanwha Corp, has been sentenced to four years and fined $4.5m for embezzlement in using company funds to pay off debts of $254m.
The Daily Telegraph, 17 August 2012
Mishcon de Reya
Mishcon's Culture vs Corruption Diary is published by the Dispute Resolution Department of Mishcon de Reya. Widely recognised as the leader in the field of fraud investigations, the Department has extensive experience in conducting and/or project managing highly sensitive international investigations in respect of bribery and corruption allegations. The Department founded and runs both the Fraud Network, made up of international legal fraud specialists, and the Financial Risk Group, for risk and compliance officers.