An investigation by Swedbank into 50 legal entities which have been suspected of laundering money through its Baltic affiliates has been widely criticised as too narrow to identify the full extent of the scandal. Partner Anna Bradshaw says : ” Swedbank may have launched a more comprehensive review than announced Friday but chose not to […]
The government wants corporates to cultivate a culture of preventing economic crime; an objective that is not going to disappear. Read more.
Peers gave their verdict on the Bribery Act last week, almost eight years after the legislation came into force. A House of Lords committee looked at extensive evidence to determine whether the act’s implementation and enforcement had been commensurate with its “gold standard” promise. The act has fostered a wide culture of corporate compliance to […]
The definition of harassment in law firms is gradually evolving, and a call or text which might have been perceived as innocent previously might be considered inappropriate now, according to experts. Partner Nick Vamos says in his contribution to the podcast that, when thinking about risk, firms should be aware that “even compared to 12 […]
The Law Society has put out a series of warnings on the implications of a no-deal Brexit for criminal law practitioners. Partner Nick Vamos says :“ The Law Society’s paper adds to the growing number of similar warnings from senior police officers, lawyers and judges about the crime and security risks of a no-deal Brexit. […]
Private prosecutions can offer speed and efficiency when compared to public prosecutions. But, experts and commentators in this field have also warned that they give rise to unique risks and ethical questions when compared with public prosecutions. The conduct of public prosecutors is governed by legislation, codes of conduct and guidance. However, it is not […]
Partner Anna Bradshaw’s comments are quoted by Reuters in their article on the Treasury Committee’s recommendations for overhauling of the UK’s anti-money laundering and anti-financial crime defences. On the implications of the Committee’s recommendations for banks, Anna says: “From the perspective of banks, the report may be a sobering read in that it calls for more aggressive […]
In a Financial Times article on the conclusion of the Treasury Committee’s Economic Crime Inquiry, Partner Anna Bradshaw is quoted saying that the committee had been “too relaxed” about the UK’s ability to secure agreements post-Brexit that were “comparable to existing ones on co-operation, particularly on intelligence exchange”. Any replacement arrangements were likely to be “markedly weaker than existing […]
UK banks have been put under immense pressure to tighten their sanctions compliance measures following the decision by the Office of Financial Sanctions Implementation (OFSI) to fine a lender involved in a transfer of £200 in breach of an asset freeze. Partner Anna Bradshaw comments, “Banks should be carefully examining their compliance controls and systems […]
We’re not expecting to see much of a dramatic change, in terms of how breaches are punished or how they are enforced, But we may well see changes to the reporting obligations, which at the moment apply to a relatively limited subset of regulated businesses and professions, as well as the financial sector, that may […]
