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Australia: Agreement on Record Penalty for Breaches of Anti-Money Laundering Law

(Oct. 5, 2020) On September 24, 2020, the Australian Transaction Reports and Analysis Centre (AUSTRAC), “the Australian Government agency responsible for detecting, deterring and disrupting criminal abuse of the financial system to protect the community from serious and organised crime,” announced that it had reached an agreement with the Westpac Banking Corporation (Westpac) for Westpac […]

Jordan: Cabinet Approves New Amendments to Anti-corruption Law

(Sept. 24, 2020) On June 14, 2020, Jordan’s minister of state for media affairs, Amjad Al-Adaileh, announced that a draft law amending Law No. 13 of 2016, the Integrity and Anti-corruption Law had been approved by the cabinet. The new amendments will be introduced to Parliament in accordance with constitutional principles. Background The Integrity and […]

Australia: Law Commission Report Recommends Reforming Law on Corporate Criminal Responsibility

(Sept. 22, 2020) On August 31, 2020, a report by the Australian Law Reform Commission (ALRC) titled Corporate Criminal Responsibility (Report) was submitted for consideration in the Australian Parliament. The Report contains a series of 20 recommendations aimed at improving Australia’s law regarding corporate criminal responsibility, including with respect to the types of offenses in the law, corporate […]

United States: Appeals Court Rules Shareholders Not Eligible to Bring Claim under Alien Tort Act When Claim Involves Breach of Fiduciary Duty

(Sept. 14, 2020) The U.S. Court of Appeals for the Second Circuit recently reversed a lower court’s decision to allow an amended complaint in a derivative lawsuit (one allowing shareholders to sue the managers of their company) brought by plaintiff shareholders of Lebanese Canadian Bank (LCB) to support a cause of action (giving a party […]

Côte d’Ivoire: Former Prime Minister Sentenced to 20 Years in Prison for Corruption

(May 15, 2020) On April 28, 2020, the Tribunal Correctionnel (Criminal Trial Court) of Abidjan, Côte d’Ivoire, convicted former Prime Minister Guillaume Soro in absentia of embezzlement and money laundering. The trial lasted only a few hours and was boycotted by Soro’s lawyers in protest of what they claimed were politically motivated, trumped-up charges. Soro, […]

Singapore: New Payment Services Act Takes Effect

(Apr. 17, 2020) On January 28, 2020, Singapore’s new Payment Services Act went into effect. The Act unifies and streamlines the regulatory requirements for various payment services provided in Singapore, including electronic payments and cryptocurrency dealing and exchange services. The Act was passed by Parliament on January 14, 2019. The Act regulates seven types of […]

Tunisia: Ratification of African Union Anti-corruption Convention Follows on Recent Anti-corruption Reforms

(Apr. 6, 2020) On February 10, 2020, Tunisia’s secretary of state for foreign affairs, Sabri Bash Tabaji, deposited documents of ratification of the African Union Convention on Preventing and Combating Corruption. The ratification, according to Tabaji, is an important step toward strengthening the collaboration with the African Union and African states in the fight against […]

European Union: New Directive on Whistleblower Protection Enters into Force

(Jan. 16, 2020) On December 16, 2019, Directive (EU) 2019/1937 of the European Parliament and of the Council of 23 October 2019 on the Protection of Persons Who Report Breaches of Union Law (Whistleblower Directive) entered into force. A European Union (EU) directive is binding only as to the result it sets out to achieve; […]

El Salvador: Chiefs and Members of MS-13 Gang Sentenced in Historic Trial

(Dec. 19, 2019) On December 12, 2019, an anti-mafia tribunal in El Salvador imposed sentences of up to 60 years in prison on nearly 400 chiefs and members of the MS-13 gang (Mara Salvatrucha) for their involvement in multiple crimes, including terrorism, homicide, drug trafficking, money laundering, and drug and firearms smuggling. Background of MS-13 […]

Morocco: Draft Law Introduced to Protect Whistle-Blowers in Corruption Cases

(Oct. 8, 2019) On February 15, 2019, the Moroccan Minister of Administration and Public Service announced the introduction of a new draft law to protect whistle-blowers. The draft law is intended to fulfill Morocco’s commitment as a signatory to the United Nations Convention against Corruption to enact relevant domestic laws, in this case by protecting […]