Weekly Compliance News - Around the World

GCSG's Weekly Compliance News feature is a compilation of some of the previous weeks interesting trade compliance, anti-bribery and corruption, fraud, and due diligence news bites, from around the world.

Indicators of Human Trafficking | Homeland Security

“Recognizing key indicators of human trafficking is the first step in identifying victims and can help save a life.“ (Click here for the article) - Global

Wife of Philippines Senator Arrested for Cash Smuggling | ICE

“The wife of a sitting senator in the Philippines has been sentenced to five months of home confinement and 36 months' probation after pleading guilty to charges of bulk cash smuggling resulting from a probe by U.S. Immigration and Customs Enforcement's Homeland Security Investigations.“ (Click here for the article) - Philippines, US

OFAC Enforcement Action: Applichem | Mr. Watchlist

“OFAC assessed AppliChem (the subsidiary) a $5,512,564 civil monetary penalty – note that this is not a settlement, like most of these cases end up.“ (Click here for the article) - Cuba

US Criticizes EU’s Extended Money Laundering Blacklist | Step

“The European Commission has adopted a new blacklist of non-EU countries alleged to have weak anti-money laundering regimes, extending it from 16 to 23 countries.“ (Click here for the article) - Global

Singapore Establishes Independent Corporate Governance Body | Finews - Asia

“Singapore has established the Corporate Governance Advisory Committee at the recommendation of Corporate Governance Council.“ (Click here for the article) - Singapore

Is Background Screening a Regulatory MInefield? | Finews - Asia

“Background screening is often approached warily given the giant web of employment and data privacy regulations that surrounds it. Yet, when done right, it can safeguard organisations.“ (Click here for the article) - Global

Dubai Has Become a Money Laundering Paradise | Forbes

“The Gulf city of Dubai has been slammed as a “money laundering paradise” by leading anti-corruption group Transparency International.“ (Click here for the article) - United Arab Emirates

The Cost of Dirty Money | Bloomberg

“Since the financial crisis, dozens of crackdowns have targeted money launderers who effectively rely on banks, shell companies, and other mechanisms to cover their tracks.“ (Click here for the article) - Global