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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 […]

England and Wales: Members of Nigerian Organized Crime Gang Sentenced to Jail for Conspiracy to Money Laundering

(Sept. 24, 2019) On August 2, 2019, three Nigerian siblings were sentenced in Woolwich Crown Court in London to imprisonment for conspiracy to money launder almost £1 million (about US$1.2 million) in violation of the Proceeds of Crime Act 2002. The offenders had laundered the money for the Black Axe organization, a banned organization in […]

European Union: New Rules to Fight Crimes Against the EU’s Budget Take Effect

(Aug. 7, 2019) On July 6, 2019, Directive (EU) 2017/1371 of the European Parliament and of the Council of 5 July 2017 on the Fight Against Fraud to the Union’s Financial Interests by Means of Criminal Law (PIF Directive) took effect. The PIF Directive is part of the European Commission’s Anti-Fraud Strategy to strengthen the […]

Singapore: Payment Services Act Passed, Regulating Cryptocurrency Dealing or Exchange Services

(Apr. 17, 2019) On January 14, 2019, the Parliament of Singapore passed the Payment Services Act, bringing cryptocurrency dealing or exchange services under the supervision of the Monetary Authority of Singapore (MAS), the city-state’s central bank and financial regulator. (Payment Services Act 2019, No. 2 of 2019 (Jan. 14, 2019, assented to by the President […]

Taiwan: Money Laundering Control Act Amended, Regulating Virtual Currency Platforms

(Jan. 22, 2019) On November 7, 2018, Taiwan’s Money Laundering Control Act was amended to strengthen the legal compliance requirements for the internal control and auditing of financial institutions and to include virtual currency platforms within the regulatory scope of the Act. (Money Laundering Control Act (enacted Oct. 23, 1996, last amended Nov. 7, 2018), […]