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/corruption, fraud, and due diligence news bites, from around the world.

EU and Japan to Recognize the Other’s Persona Data Protection System | JDSupra - K&L Gates LLP

"On 17 July 2018, the EU and Japan reached an agreement to recognize each other’s data protections systems as “equivalent”, and each commits to complete internal procedures by fall 2018 (the “Data Agreement”). Once adopted, this will allow businesses to transfer personal data from the European Economic Area to Japan and vice versa without being required to provide further additional safeguards for each transfer." (Click here for the article) - EU, Japan

Chinese Intelligence Officer Charged with Economic Espionage | US DOJ

"A Chinese Ministry of State Security (MSS) operative, Yanjun Xu, aka Qu Hui, aka Zhang Hui, has been arrested and charged with conspiring and attempting to commit economic espionage and steal trade secrets from multiple U.S. aviation and aerospace companies.  Xu was extradited to the United States yesterday." (Click here for the article) - USA, China

Cyber Tests Showed ‘Nearly All’ New Pentagon Weapons Vulnerable to Attack | NPR

"Passwords that took seconds to guess, or were never changed from their factory settings. Cyber vulnerabilities that were known, but never fixed. Those are two common problems plaguing some of the Department of Defense's newest weapons systems, according to the Government Accountability Office." (Click here for the article) - USA, China

Security firm uncovers new cyber group targeting government and military sectors | The Hill

"A new cyber group appears to have been targeting government and military organizations this past year as part of an espionage campaign, a security firm said on Wednesday." (Click here for the article) - Eastern Europe, Middle East

Oil Industry snubs EU effort to defy US sanctions on Iran | Financial Times

"Big European oil companies are spurning the EU’s attempt to shield Iranian crude from US sanctions because of fears the effort would leave businesses exposed to harsh penalties from the Trump administration." (Click here for the article) - Europe, Iran, USA

Mitigating Compliance Pitfalls in Manufacturing | Manufacturing.net

"The U.S. Department of Justice and the Securities and Exchange Commission have stepped up efforts recently to enforce the Foreign Corrupt Practices Act (FCPA). For manufacturers, this involves regulations surrounding exports and international conduct, including those related to U.S. economic sanctions and export control laws." (Click here for the article) - USA

French ports planning for ‘No-Deal’ Brexit | freightweek

"Norlink Ports, an association of 25 ports and inland gateways in the northern Hauts-de-France region, is planning measures to reduce the commercial impact of Britain leaving the European Union without a trade agreement." (Click here for the article) - UK, France, EU

Three Audit Employees Investigated in Probe of Vehicle Certifications | WSJ

"German prosecutors have launched an investigation into three employees of Volkswagen AG’s luxury car unit Audi suspected of falsifying documents to obtain roadworthiness certifications needed for vehicles to be exported to South Korea…" (Click here for the article) - Germany, South Korea

Countries Face Rising Exposure to Money Laundering | WSJ

"More countries are showing heightened risks of exposure to money laundering, according to an annual ranking of countries assessing their money-laundering risk." (Click here for the article) - Global