Compared to a year ago, it looks like trading revenue in Wall Street has slumped. However, there is a rarely mentioned reason for last year’s boom: a billion-dollar windfall that went from Russia through some of the former Soviet republics into the hands of Wall Street’s currency traders. According to a Bloomberg article, as companies […]
The recent media furore over the withdrawal of existing, or reluctance to offer, banking facilities for so-called politically exposed persons (PEPs) has shone a light on an issue that many prominent individuals have been grappling with for some time. The UK government wants to address the problem of PEP bank account closures through introducing tighter […]
With the parliamentary summer recess upon us, it is worth recapping where the Conservative government’s flagship Economic Crime and Transparency Bill got up to before taking a well-deserved holiday. The reform proposals – which are now expected to become law sometime in the autumn legislative term – represent the most significant shift in white collar […]
Every year, the UK economy could be losing as much £219 billion to fraud. This colossal figure is one of they key findings of the 2023 Annual Fraud Indicator (AFI), a round-up of the cost of fraud in the UK published by Peters & Peters Solicitors in conjunction with national audit, tax, advisory and risk […]
Earlier this month, the Supreme Court handed down its judgment in Philipp v Barclays Bank UK PLC, which deals with the circumstances in which a bank can be held liable for not preventing a customer from being defrauded. The judgment offered much-needed clarity on the nature of the Quincecare duty and the obligations that banks […]
In March, the UK government released its Green Finance Strategy, setting out plans to attract investment to help achieve the country’s net zero ambitions. Then, a month later, the National Fraud Strategy came out, revealing that fraud is “by far” the UK’s most common crime, representing 40% of offences in England and Wales. However, no […]
From fake goods, scam emails, counterfeited artwork, mislabelled foods to the perils of falling prey to all those crypto adverts, fraud is everywhere. In this article for Fraud Intelligence, Keith Oliver and Caroline Timoney embark on a whistlestop tour through the history of fraud, uncovering how many old scams have modern versions today. They discuss […]
The UK has set out plans to tame the crypto sector and the Treasury has announced that this will be done under the existing financial services regime. In this first edition of the International Academy of Financial Crime Litigators Bulletin (see p26), Keith Oliver and Caroline Timoney argue that despite the Treasury’s ambition to control […]
As Covid-19 brought a seismic shift in the amount of time Britons spend living and working in their home, there followed an uptick in those wanting to maximise or improve the space through renovation. With demand for tradesmen outstripping supply, it is unsurprising that homeowner complaints about ‘rogue builders’ soared by nearly one third between […]
For once, I will be fleetingly positive about this country. I know it’s not de rigueur, and I won’t make a habit out of it. But it seems like we are starting to get the long-awaited clarity the country needs in the context of digital assets. Theoretically at least. I say this following the publication […]
