Article: Money laundering cop AUSTRAC to face grilling under new financial crime inquiry

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Money laundering cop AUSTRAC to face grilling under new financial crime inquiry

Charlotte Grieve, 23 June 2021

The financial intelligence watchdog and big four banks will be probed under a new parliamentary inquiry designed to measure the efficiency and adequacy of the Australia’s anti-money laundering regime.

The Senate approved a motion brought by Labor Senator Deborah O’Neill on Wednesday to launch a formal inquiry into the effectiveness of the laws, regulators and companies tasked with stamping out illicit fund flows. Continue reading “Article: Money laundering cop AUSTRAC to face grilling under new financial crime inquiry”

Article: DOJ Casts the FCPA Spotlight on Brazil-Related Enforcement

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DOJ Casts the FCPA Spotlight on Brazil-Related Enforcement

Kevin Roberts, Lex Urban, Duncan Grieve, Stephen Weiss, 12 June 2021

On May 25, 2021, the U.S. Department of Justice (“DOJ”) unsealed an indictment charging two Austrian citizens, Peter Weinzierl (“Weinzierl”) and Alexander Waldstein (“Waldstein”), for their roles in a scheme to launder hundreds of millions of dollars through the U.S. financial system on behalf of the Brazilian construction conglomerate, Odebrecht S.A. (“Odebrecht”). The indictment alleges that Weinzierl and Waldstein helped Odebrecht funnel money to offshore accounts to pay bribes to government officials in Brazil, Panama, and Mexico. The announcement was timed to coincide with the arrest of Weinzierl in the United Kingdom; however, Waldstein remains at large.

This enforcement action is notable for a number of reasons:

(1) DOJ has used U.S. money laundering statutes to charge Weinzierl and Waldstein with bribery-related misconduct because both individuals likely fall outside of the ambit of the Foreign Corrupt Practices Act (“FCPA”); Continue reading “Article: DOJ Casts the FCPA Spotlight on Brazil-Related Enforcement”

Article: Brexit: Allegations of “foreign government collusion” with “Remainer” MPs

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Brexit: Allegations of “foreign government collusion” with “Remainer” MPs

EU TODAY, 29 September 2019

Downing Street has reportedly launched a major investigation into alleged links between foreign governments and the MPs behind the ‘Surrender Act’ which could force Boris Johnson to delay Britains’s exit from the European Union, according to The Mail on Sunday.

According to the newspaper, sources say that No 10 took the unprecedented action after officials received intelligence that the MPs, including former Cabinet Minister Oliver Letwin, had received help drafting the Bill from members of the French Government and the European Union.

The newspaper has also claims that the rebel MPs have drawn up plans for a second Act which would allow Commons Speaker John Bercow to bypass the Prime Minister if he cannot strike a deal to leave the EU on October 31st, something that has been reported from other sources.

The new law would allow Mr Bercow to personally ask Brussels for a further delay on behalf of the Commons. The rebels have reportedly discussed using the legislation to give Mr Bercow the power to appoint a new British commissioner to the EU, with pro-Remain former Home Secretary Amber Rudd mentioned as a candidate.

The Benn Act, passed earlier this month, states that if Johnson fails to win a deal by the end of the next EU summit on October 18th, he must write a letter to Brussels asking for the UK’s departure to be delayed until January 31st, which he says he will refuse to do.

Under the rebel plan, the Commons would sit on October 19th in order to pass a new Bill giving Mr Bercow the power to write the letter. A senior Commons source said: ‘The rebels say that if Boris wants to play with nuclear weapons then so will they’.

But last night No 10 hit back amid claims from senior sources that Mr Letwin had agreed the January 31st date in the first Benn Act with figures at the French Embassy in London.

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