AJ Blackston’s Post

Let’s promote the rule of law, make America strong again LINK: https://lnkd.in/eXwEerhN #BankingAndFinanceNews #MoneyLaundering Please Repost

New US reporting law impacts Irish firms Irish companies with business ties to the United States are now subject to new regulatory requirements under the US Corporate Transparency Act (CTA) 2021, which took effect on 1 January this year. This new legislation imposes stringent reporting obligations on both US and foreign companies, including those from Ireland, as part of a broader effort to combat financial crimes such as money laundering and terrorist financing. The legislation, while US-based, has significant implications for Irish businesses due to the global nature of modern commerce and close economic ties between Ireland and the US. The CTA also applies to individuals who own investment properties in the US through investment companies. Full Article : https://lnkd.in/g8dURpWf #accounting #accountants #accountingnews #accountingupdates #ukaccounting #ukaccountants #ukaccountingnews #ukaccountingupdates #irelandaccounting #irelandaccountants #irelandaccountingnews #irelandaccountingupdates Rohith Garg Geettika Gargg

An excellent reprise of the state of play with the Overseas Territories on beneficial ownership as they all gather in London for the regular OTs Consultative council. Word is that the Foreign Secretary has decided he will not force the issue (as he is empowered to do) of requiring the registers to be, as UK's is, publicly available as distinct from only being accessible by those who can show a 'proper' need to know (ie, law enforcement and other authorities). As we've seen in the UK's case, public access has been valuable in exposing anomalies and likely false registrations. As BVI constantly asserts to everyone that it safeguards itself against doing 'dodgy' business, you would have thought it would be keen to allow maximum publicity to substantiate that assertion. #beneficialownership #transparency https://lnkd.in/e3asPEsZ

#FEPA the Foreign Extortion Prevention Act became law in December 2023 and criminalizes the "demand side" of foreign bribery by prohibiting foreign officials from demanding, seeking, receiving, accepting, or agreeing to receive or accept anything of value from certain individuals and entities. It is an expansion of prohibited acts under the FCPA with a broad definition of "foreign official." From the perspective of an Anti-bribery and Corruption compliance program ("ABC" or "ABAC") additional controls should take this statute into consideration. An individual in a foreign jurisdiction who suggests "greasing some palms" or otherwise engaging in a corrupt practice to facilitate a deal can be engaging in conduct prohibited under FEPA. This is because of the definition of "foreign official" includes "any person acting in an unofficial capacity for or on behalf of a government or public international organization." Thus, a prominent business person with close ties to a foreign government could be acting in an unofficial capacity when advising on business deals with foreign governments. Our ABC programs should require the identification, reporting, and escalation of such communications. This was conduct not previously covered under the #FCPA and if #ABC controls were not updated since December 2023, they are out of date. As the US DOJ Guidelines indicate, corporate compliance programs must be tailored to US law. An effective compliance program can be the difference between a rogue employee engaging in criminal conduct and a corporation facilitating criminal conduct through poor compliance. https://lnkd.in/errt_VbM

The Panama Papers trial has started, eight years after the groundbreaking collaboration between hundreds of media organisations, coordinated by the International Consortium of Investigative Journalists (ICIJ). This trial involves 27 people accused of money laundering, including Jürgen Mossack and Ramón Fonseca Mora, who founded a law firm that's central to the case. Open company data was a crucial piece of the puzzle, and OpenCorporates’ data was used by ICIJ in this investigation, and many of the investigations that followed. Learn more about the trial in the latest article by ICIJ 👉 https://lnkd.in/ec2W2xvM #PanamaPapers #MoneyLaundering #OpenData

Our Summer 2024 #FCPA Review is out now, covering enforcement actions against corporations and individuals, policy and legislative developments, recent court cases, and international developments for the last quarter: https://bit.ly/46vfDq6 Editors: Daniel Patrick Wendt, John Davis, Ann Sultan, and Alex Beaulieu Contributors: Paul Leder and Andrew Wise #DOJ #SEC #FEPA #FCPAenforcement #Australia #anticorruption #LatinAmerica

Our Summer 2024 #FCPA Review is out! Please review for summaries of enforcement actions (only actions against individuals this quarter), policy and legislative updates, and international developments. #anticorruption #FCPA #antibribery

New op-ed! In it, I unpack why Congress needs to pass anti-corruption legislation aimed at stopping lawmakers like Rep. Ken Calvert from abusing their positions of power to profit off of voters. Read it here: https://lnkd.in/ed5H2iCM

Oleksandr Leshchenko, managing partner of ATTORNEYS AT LAW "LESHCHENKO, DOROSHENKO & PARTNERS", will be a speaker at the 2nd session of the AAU forum "BUSINESS PROTECTION 2024 - A2B FORUM"! ⚡️ He will talk about the effectiveness of sanctions pressure, what is working, and what is lacking. In the second session, speakers - lawyers from the most famous firms in Ukraine and representatives of state bodies - will also discuss: ➡️ The first results of the recovery of tax audits as case law. ➡️ Actual issues of court practice in business protection. ➡️ NO to raiding. How to protect business from raiding? In general, at the Forum, experts will analyze numerous timely issues related to the business environment and the challenges faced by companies under martial law. The discussion promises to be interesting and engaging! There is still a chance to join! Details - at the link: https://cutt.ly/ueYdHQkT 🧾You can familiarize yourself with the program of the forum here 👉 https://cutt.ly/LeY6TFVS

https://lnkd.in/g_39WSmr China's laws and sentences are the toughest......and the most effective