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.

Chinese Bank Involved in Probe | Washington Post

“A U.S. judge has found three large Chinese banks in contempt for refusing to comply with subpoenas in an investigation into North Korean sanctions violations.” (Click here for the article) - United States, China, N. Korea

France Moves Toward US Model in Corp. Led Investigations | Wall Street Journal

“French authorities are encouraging companies to conduct internal investigations when seeking to settle allegations of certain financial crimes—the latest in a series of reforms that brings the country closer to the U.S. model of corporate crime and punishment.” (Click here for the article) - United States, France

Albania’s Self-Consuming Corruption Undermining Path to EU Accession | Emerging Europe

“At a time when Albania was expected to make significant progress in its accession talks with the European Union, some member states are unwilling to support negotiations with Albania and North Macedonia.” (Click here for the article) - Albania, N. Macedonia, France

Biggest Problem Nigeria Faces is Corruption | PM News

“A former aide to President Muhammadu Buhari on Financial Crimes in the Federal Ministry of Justice, Mr. Biodun Aikomo has revealed that “the biggest problem Nigeria faces is corruption, as resources meant for everybody are in the pockets of individuals.” (Click here for the article) - Nigeria

There is a “New Awareness” About Fraud, Corruption - KNZ Finance Head  | The Citizen

“KwaZulu-Natal’s newly appointed head of finance said on Wednesday that government officials were experiencing “a new awareness” when it came to fraud and corruption. MEC Ravi Pillay said there was a “new culture and a new climate” in the country when it came to addressing corruption.” (Click here for the article) - KwaZulu-Natal

African Leaders Launch Landmark 55-nation Trade Zone  | DW News

“It took African countries four years to agree to a free-trade deal in March. The trade zone will unite 1.3 billion people, create a $3.4 trillion economic bloc and usher in a new era of development across the continent.” (Click here for the article) - Africa