Australia, like many countries, is looking at overhauling and strengthening its various anti-corruption laws. A number of new laws have been proposed recently that would change the way Australia handles corruption and bribery cases. If adopted these new proposed laws could be a big step toward making action on corruption in Australia much easier and more effective.
FCPA Blog has a great article about the proposed new laws, and we very much suggest you read the full article there, but here we provide a summary of a few of the bigger changes these laws would bring about:
Blockchains and cryptocurrencies are a major topic at this year’s World Economic Forum in Davos, Switzerland. While cryptocurrencies such as Bitcoin are not always held in high regard due to their volatility, lack of a supportive financial structure, and history of association with illicit trade, the blockchain, one of the technologies behind bitcoin and other cryptocurrencies, is being hailed by some as a potential tool to increase financial security and transparency. This potential for blockchain is now being tested within Brazil to combat corruption in land allocation.
A blockchain is a continuously-growing list of records (called blocks) of transactions that are publicly held on every computer involved in the blockchain. Since the blockchain records who records and when they were and is publicly viewable by anyone, it is used by cryptocurrencies such as Bitcoin to track and record transactions without worry that records are being fraudulently altered.