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1.4 - Combating corporate crime

 

1.4 - Combating corporate crime

This commitment will strengthen Australia’s ability to prevent, detect and respond to corporate crime, particularly bribery of foreign public officials, money laundering and terrorism financing. We plan to do so by improving the effectiveness of our legislation and exploring options to encourage companies to self-report criminal behaviour.

This commitment will advance the OGP value of public accountability by strengthening our laws and improving our ability to detect and respond to corporate criminal behaviour, in consultation with the public.

This commitment was included in the National Action Plan to explore ways to better target and enforce our financial and corporate criminal laws and thereby reduce opportunities for corporate criminals to exploit Australia’s financial system for their own illicit gain.

Steps to implementation

Implementation Step Period Status

AGD to review laws applying to foreign bribery and consult publicly on possible reform options.

Dec 2016-Mar 2017 Completed

Respond to the consultation on a possible Australian DPA scheme and consult on possible models.

Dec 2016-Jul 2017 Completed

Consult publicly on the recommendations from the statutory review of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 and associated Rules and Regulations, and implement legislative reforms. 

2019 On-track

Final report of the ASIC enforcement review taskforce to Government.

2017 Completed

Status updates for commitments are provided approximately every two months. With each update, agencies are encouraged to provide further and better particulars of the commitment and its steps to implementation, which may result in changes to timelines outlined in Australia’s first Open Government National Action Plan 2016-18.

Updated date: 12 June 2019