The UK Government intends to reform the law on limited partnerships as part of its strategy to combat money laundering, other economic crimes and the use of UK entities in such schemes.Read more
The UK’s Office of Financial Sanctions Implementation, or OFSI, announced its first civil monetary penalty on Monday, fining a UK bank £5,000 for processing a £200 transaction in breach of an asset freeze. Partner Anna Bradshaw tells ACAMS Moneylaundering.com: “OFSI have not until now given any indication that low-value sanctions violations are perceived as a […]
The Private Prosecutors’ Association (PPA) has launched a consultation on its draft Code for Private Prosecutors. Private prosecutors have an obligation to act as ministers of justice; they must act impartially and comply with onerous disclosure obligations. However, private prosecutions give rise to issues and challenges that differ from those in public prosecutions. Whilst various […]
In January, the last of the criminal trials into the 2014 Tesco accounting scandal collapsed. In yet another blow for the SFO, the case has exposed a number of fundamental issues with DPAs, placing the prosecutor’s use of the settlement regime under the spotlight. Read more
Hannah Laming provides an overview of the main corruption and fraud risks potentially arising from third- party and counterparty relationships, as well as lessons that can be learnt from recent high profile cases. Read more.
At the end of 2018, a little-noticed provision came into force, which potentially places a host of ‘draconian’ UK law enforcement weapons into the hands of countries with little respect for the rule of law. Read more.
Interviewed by MoneyLaundering.com, Partner Anna Bradshaw comments on some of the issues raised by the EU Commission’s revised list of third countries with weak anti-money laundering and terrorist financing regimes: “A competing EU blacklist is problematic in principle, both in terms of what it is ultimately trying to achieve and what specific compliance steps or […]
Partner Nick Vamos was interviewed on BBC Asian Network on 5 February and can be heard from the 14:30 minute mark here.
The Criminal prosecutions brought after the 2014 Tesco accounting scandal are at an end. Last week the former Tesco UK finance director, the last executive to stand trial over fraud and false accounting was cleared of both charges. The business’ former UK managing director and former food commercial director, were acquitted of the same charges […]
Defendants to civil proceedings for fraud will often find themselves also subject to parallel criminal proceedings or investigations. This can leave the defendant in a difficult position: how to deal with the civil claim before knowing the extent of the criminal charges or the evidence relied on by the prosecution? Read more.
