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.

The Only Way to End Corruption in Laos | The Diplomat

“Is Laos’ ruling communist party building up to an anti-corruption campaign similar to the ones we’ve seen in China and Vietnam? Since Prime Minister Thongloun Sisoulith came to power in early 2016, more officials have been dismissed because of graft, and new laws created to tackle it.” (Click here for the article) - Laos, China, Vietnam

US Nonprofit Takes on Corruption in Middle East | Inside Sources

“The Global Justice Foundation hopes to improve global business ethics, specifically in countries where government officials and business leaders engage in illegal activities to create an uneven playing field in the marketplace.” (Click here for the article) - Global

Switzerland to Tighten Anti-Money Laundering Rules | OCCRP

“Known for the banking secrecy that has given the country its reputation as a “dirty money hub,” Switzerland now plans to tighten its anti-money laundering regulations and bring them in line with international standards.” (Click here for the article) - Switzerland

Justice Department to Open Broad New Anti-Trust Review of Big Tech Companies | Wall Street Journal

“The Justice Department is opening a broad antitrust review into whether dominant technology firms are unlawfully stifling competition, adding a new Washington threat for companies such as Facebook Inc., Google, Amazon.com Inc. and Apple Inc.” (Click here for the article) - United States

Malta’s Anti-Money Laundering Regime Fails Final Moneyval Review | KYC360

“Malta’s anti-money laundering regime has failed a review by international experts and the island now has a year to get its house in order or face potential blacklisting procedures.” (Click here for the article) - Malta

It’s All About Relationships with Freight Brokers | Global Trade Magazine

“…When it comes to freight brokers – the licensed intermediaries who work to connect carriers and manufacturers – the ability to run a successful operation relies on a foundation of business relationships.” (Click here for the article) - Global

Vietnam Cracks Down on Tariff Export Detours | Nikkei Asian Review

“The Vietnamese government has begun taking steps to clamp down on shipments of products from China and elsewhere that pass through Vietnam and are relabeled as Vietnamese to avoid U.S. tariffs.” (Click here for the article) - Vietnam, China, United States

US Sanctions Compliance Fines Hit Decade High | Wall Street Journal

“Fines issued by the U.S. regulator enforcing sanctions compliance have hit a decade high at a time when the Trump administration is increasingly using sanctions as a foreign policy tool.” (Click here for the article) - Global