Anti-Bribery and Anti-Corruption

Fraud Whistleblower Wins Dismissal Lawsuit

The Los Angeles Times reports that Bank of America (BofA) has been found to have wrongfully dismissed an internal investigator who uncovered “widespread and pervasive wire, mail and bank fraud” at Countrywide Financial Corp after BofA acquired the firm in July 2008. The US Department of Labor reportedly found that the employee should have been protected from dismissal under whistleblower laws, ordering BofA to reinstate the employee and pay more than US$930,000 in back pay, compensation and costs.
Los Angeles Times: Feds: BofA improperly fired employee who exposed Countrywide fraud (14 September 2011) 
(Source: Los Angeles Times)

First UK Bribery Act Charges Filed in UK

The United Kingdom announced last week that it has filed the first charges under the UK Bribery Act. The charges come only two months after the law had been enacted. According to reports, Munir Yakub Patel has been charged with requesting and receiving a bribe intending to improperly perform his functions. He is scheduled to appear in court on October 14.
Wall Street Journal: UK Announces First Bribery Act Charges. (31 August 2011)
(Source: Wall Street Journal)

Corruption Probe Leads to Mountie Raid of Engineering Firm

Royal Canadian Mounted Police raided the offices of SNC-Lavalin Group Inc. in connection with the company’s work in Bangladesh. Authorities are reportedly looking into accusations of corruption in the bidding process for work on the $1.2 billion dollar Padma Bridge Project. This marks the second case that the Canadian government has pursued involving corruption abroad this year.
Wall Street Journal: Mounties Raid SNC-Lavalin In Corruption Probe. (2 September 2011)
(Source: Wall Street Journal)

RBI Fines Bank
Asia Pacific

The Reserve Bank of India (RBI) has announced that it has imposed a fine of Rupees one lakh (approximately €1,600/US$2,200) on the Sankheda Nagrik Sahakari Bank Ltd, for failing to report cash transactions exceeding Rupees 10 lakh.
RBI’s media release (8 September 2011)
(Source: RBI)

AUSTRAC Accepts Enforceable Undertaking from Remittance Service Provider
Asia Pacific

The Australian Transaction Reports and Analysis Centre (AUSTRAC) has announced the acceptance of an enforceable undertaking (September 2011) from Mega Trade Interchange, to ensure compliance with the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 No. 169 (Cth).

AUSTRAC’s media release (8 September 2011)
(Source: AUSTRAC; Lawlex Legislative Alert & Premium Research)