Monday Compliance News - Around the World

GCSG's Monday Compliance News is a compilation of some of the previous weeks interesting trade compliance, anti-bribery/corruption, fraud, and due diligence news bites, from around the world.

Procurement Leaders: Risk Management Ranks Among Top Concerns  | Risk & Compliance Journal - WSJ

"Reducing costs ranks as the biggest priority for chief procurement officers (CPOs) around the world, but risk management, technology, and talent are also top of mind..." (Click here for the article) - North America, South America, Asia Pacific, Europe, Middle East, Africa

Compliance Officers Less Worried About Liability | Risk & Compliance Journal - WSJ

"Concerns about personal liability have lessened somewhat for compliance professionals but a survey shows they continue to be a big worry for those tasked with handling compliance for their organization." (Click here for the article) - Global

The Emergence of Compliance - A new profession? | Harvard Law School Center on the Legal Profession

"What do compliance officers, social media marketers, and 3-D designers have in common?  They are all members of relatively new specialties, attempting to carve out areas of expertise to meet the evolving demands brought on by economic, technological, business, and social change." (Click here for the article) - Global

UN expands North Korea blacklist in first U.S., China sanction deal under Trump | Reuters

"The U.N. Security Council on Friday expanded targeted sanctions against North Korea after its repeated missile tests..." (Click here for the article) - China, North Korea, USA

Federal Contractors Face New Training Requirements | Risk & Compliance Journal - WSJ

"New rules that took effect Wednesday require cleared U.S. government contractors to have in place insider-threat awareness training programs before they can handle classified information." (Click here for the article) - USA

SEC Bars Former PetroTiger GC Convicted in Bribery Case | Corporate Counsel

"Former general counsel Gregory Weisman has been suspended from practicing before the U.S. Securities and Exchange Commission more than three years after his guilty plea in the PetroTiger Ltd. bribery case." (Click here for the article) - USA

Compliance Boosts Foothold in C-Suite, Boardrooms | Risk & Compliance Journal - WSJ

"Chief compliance and ethics officers are increasingly being included in senior-level discussions about corporate strategy, showing compliance is gaining favor in boardrooms worldwide but also pointing out the challenges the function continues to face, according to a survey..." (Click here for the article) - Global

General Motors Accused of Rigging Diesel Pickup Truck Emissions | Road and Track

"A class-action lawsuit accuses General Motors of rigging emission-control systems on 2011-2016 Chevrolet Silverado HD and GMC Sierra HD pickups with GM's Duramax turbo-diesel 6.6-liter V-8 engine." (Click here for the article) - USA

Exports and End-Use | RealClear Defense

"In a report this week, Amnesty International expresses its annoyance that the US Army failed to keep tabs on more than $1 billion worth of arms and other military equipment in Iraq and Kuwait." (Click here for the article) - Iraq, Kuwait, USA

Hong Kong and Macau regulators intensity efforts against money laundering, financial crime and terrorist funding | South China Morning Post

"Hong Kong and Macau have launched simultaneous shake-ups of the systems they have in place to tackle the growing menace of money laundering, financial crime and the funding of terrorist groups." (Click here for the article) - China, Hong Kong, Macau

China's Cyber Security Law: The Impossibility of Compliance? | Forbes

"China's much-anticipated Cyber Security Law (CSL) will come into effect on 1 June 2017.  The new law is the first comprehensive law to address cyber security concerns at the national level and to some extent consolidates cyber activities captured in other laws and regulations." (Click here for the article) - China

CVS's Omnicare to pay $23 million to resolve U.S. kickback case | Reuters

"CVS Health Corp's Omnicare unit has agreed to pay $23 million to resolve a whistleblower lawsuit alleging that it took kickbacks from a drugmaker..." (Click here for the article) - USA

Unaoil Probe Threatens Oil-Sector Merger | Risk & Compliance Journal - WSJ

"An oil merger is in danger after revelations of ties to Unaoil, which is under U.K. investigation for bribery and money laundering." (Click here for the article) - UK, USA

Japan's METI Issues Updated End User List | METI

(Click here for the post) - Japan

Bank's slapped with fines for weak anti-money laundering controls | Mail & Guardian

"Several local and international banks have been slapped with administrative fines by the South African Reserve Bank, for weak anti-money laundering and combating of financing of terrorism controls." (Click here for the article) - South Africa