The Australian Taxation Office (ATO), through its Serious Financial Crime Taskforce (SFCT), has identified an alarming trend among businesses: the illegal use of electronic sales suppression tools (ESSTs) to underreport taxable income and evade taxes. With the increasing digitisation of business operations, there is a growing concern about the prevalence of these tools, which are…
DetailsICC President Tomoko Akane and Europol Executive Director Catherine De Bolle during the signature of the agreements ©Europol On 18 September 2024, the International Criminal Court (ICC) and Europol took significant steps toward boosting international justice and security cooperation. Judge Tomoko Akane, the President of the ICC, and Catherine De Bolle, Executive Director of Europol,…
DetailsBackground On 8 March 2024, the Australian Parliament passed the Crimes Legislation Amendment (Combatting Foreign Bribery) Bill 2023, which introduced a new criminal offence under the Criminal Code Act 1995 (Cth). The offence was introduced as section 70.5A, titled “Failing to prevent bribery of foreign public officials”, where corporations can be criminally charged for not…
DetailsThe National Anti-Corruption Commission (the Commission) is an Australian Government agency that focuses on deterring, detecting, and preventing corrupt conduct involving Commonwealth public officials. In its Corporate Plan 2024-28 the Commission outlines its key activities to achieve its aims. Detecting corruption The Commission detects corruption using various methods, such as: Voluntary referrals through their…
DetailsThe National Anti-Corruption Commission (the Commission) has identified several strategic corruption priorities for 2024-2025, focusing on areas that present the greatest potential risks to integrity in the Commonwealth public sector. These priorities are shaped by intelligence gathering, data analysis, and stakeholder engagement. They serve to guide the Commission’s activities, ensuring its efforts are cohesive, proactive,…
DetailsIn a significant legal outcome, Mr A has been sentenced to three years and 14 days in prison for his role in bribing a former Australian Taxation Office (ATO) official. Mr A paid bribes to Mr B, an ATO employee, in exchange for the reduction of millions of dollars in personal and business tax debts…
DetailsThe Australian Securities and Investments Commission (ASIC) has established document production guidelines to streamline the process of submitting “books” in connection with its investigations or surveillance activities. These guidelines apply whether you are submitting documents voluntarily or in response to ASIC’s compulsory powers. Definition of ‘books’ The term “books,” as used in the guidelines,…
DetailsThe Australian Securities and Investments Commission (ASIC) is a regulatory authority responsible for overseeing companies, financial markets, and financial services in Australia. One of the key tools at ASIC’s disposal is its compulsory information-gathering powers, which are essential for the effective regulation and enforcement of laws within the sectors it oversees. The importance of…
DetailsAn Interpol Red Notice expires after 5 years, and it is not automatically renewed. According to Article 13(2)(f) of Interpol’s Rules on the Processing of Data (RPD), the data retention period is determined by INTERPOL’s Executive Committee. A Red Notice is included in Interpol’s “Nominal Database,” which has a retention period of 5 years. However,…
DetailsAfter three years of intensive negotiations, United Nations Member States have reached a milestone agreement on a new convention aimed at combatting cybercrime. The draft text, finalised on 9 August 2024, is poised to be adopted by the UN General Assembly later this year, marking the creation of the first global legally binding instrument to…
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