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South Africa: Cybercrime post COVID-19 – Authorized push payment fraud in the world of...

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COVID-19 has led to an increase in online business dealings and transactions, which has resulted in a steady rise in cybercrime. Criminals are using techniques such as authorized push payment fraud to steal large sums of money from unsuspecting individuals and entities. Wian Steyn, Senior Associate, and Rui Lopes, Associate, in the Dispute Resolution Practice Group in Johannesburg, discuss how this fraud takes place, and the legal obligations and duties imposed on investment managers, investors and banks, to protect against it.

United States: This Week in Government Enforcement

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Please join us for a new weekly video series, hosted by Baker McKenzie's North America Government Enforcement partners Tom Firestone and Jerome Tomas.This weekly briefing is available on demand and will cover hot topics and current enforcement actions related to white collar crime and criminal investigations in the US and abroad to arm you with the information you need to start your business week.As one of the largest global law firms, we will call upon our exceptionally deep and broad bench of white collar experts throughout the world and particularly in the commercial hubs of Europe, Asia, Africa and Latin America to join our weekly discussion series.

France: French ordinance passed to strengthen law combating money laundering and the financing of...

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The Government of France issued an ordinance (n° 2020-115), which transposes the EU Directive (2018/843) of 30 May 2018 of the European Parliament and of the Council, known as the "5th Anti-Money Laundering Directive", on 12 February 2020 to aid in the efforts to combat money laundering and the financing of terrorism in France. This ordinance has been supplemented by two decrees (n° 2020-118, n° 1010-119) adopted on the same day.Covered institutions with a presence in France should carefully analyze the ordinance and its supporting decrees and, where necessary, review and adapt their processes to ensure compliance with the new regulatory framework. In particular, client identity checks need to be adapted.

Global: Regulations and Responsibilities Affecting Directors and Senior Managers of Asset Managers – Global...

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A convergence of factors has brought about the perfect storm of disruption and change, presenting a myriad of challenges and opportunities to Asset Managers...

A Strengthening Partnership – European Union’s New Africa Strategy Amidst COVID-19 Uncertainty

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In early March 2020, after COVID-19 had already begun its journey of destruction around the world, the European Commission (Commission) published its Comprehensive Strategy...

Europe: LIBOR – Redefining the transition timeline

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Progress on the reform of LIBOR has not stopped during the COVID-19 pandemic.While the overall timing for LIBOR transition has remained unchanged, the Working Group on Sterling Risk-Free Reference Rates (RFRWG) has recognized the need to introduce some flexibility in relation to the interim transition deadlines to ensure that lenders are able to continue to supply credit to the real economy and assist with economic recovery.

United States: North America: COVID-19 and courts – Are we ready for the new...

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The US legal system is not virtual. As the Supreme Court has stated, the right to in-person confrontation has "a lineage that traces back to the beginnings of Western legal culture." Reminders of the importance of physical presence in the courtroom are everywhere: the Constitution guarantees the right to trial by jury, the Supreme Court has held that there is a qualified First Amendment right to attend court proceedings, and out-of-court statements are generally inadmissible. These are only a few examples. But what happens when these important rights collide with equally important public health considerations? Are virtual solutions legally permissible/technically possible/strategically desirable? Will today's temporary work-arounds become tomorrow's best practices? Is remote litigation the wave of the future? What risks and opportunities does it present?

First English translation of draft German corporate liability act available

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The first English translation of German draft corporate liability act is available on www.verbandssanktionengesetz.de.  This new website is a private initiative. Therefore, the translation...

German Ministry of Justice finally publishes draft for a corporate liability act – what...

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Increasing pressure of prosecution due to principle of legality, higher sanctions and incentives for compliance programs and internal investigations - a lot will change once the new corporate liability act comes into force

Financial Monitoring: Ukraine Harmonizes its Legislation with International Standards

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On 28 April 2020 the Law of Ukraine "On Prevention and Counteraction to Legalization (Money Laundering) of the Proceeds of Crime or Terrorism Financing,...
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