Following ratification by the US Congress, the Data Access Agreement between the US and the UK under the Clarifying Lawful Overseas Use of Data (CLOUD) Act will enter into force on 3 October 2022, three years after it was originally signed. Under the agreement, investigators in each country will be able to obtain electronic data […]
Fraud is increasing beyond domestic borders and the need for cooperation between jurisdictions in pursuing the proceeds of financial wrongdoing has never been so acute. Recent developments internationally, notably in the United States, seem to reduce the tools of collaboration available. However, the position in our own jurisdiction is lacking in this regard and in […]
Max Hill QC, director of public prosecutions for England and Wales, and Lisa Osofsky, director of the Serious Fraud Office, recently put their support behind extending the ‘failure to prevent’ (FTP) model from current bribery and tax offences to further encompass fraud, reviving a decades-long debate around how far corporates should be responsible for the […]
Peter FitzGerald and Amalia Neenan have penned an article for The Law Society Gazette on the recent decision by a Swiss court to acquit the former president of FIFA, Sepp Blatter, and UEFA’s former president, Michel Platini, following an allegation that a 2011 payment of 2.2 million Swiss francs from FIFA to Platini – which […]
Anna Bradshaw and Alistair Jones were quoted in the September 2022 issue of WorldECR, commenting on a case at Ireland’s High Court involving Cypriot companies wanting to purchase marine vessels that they had leased from a Dublin-registered firm allegedly owned by Russia. Anna told the publication that the case is a good illustration of the […]
In 2018, the City of London Police (CoLP) obtained account freezing orders (AFOs) over our clients’ business and personal accounts. Our clients, and their UK-incorporated company, had unwittingly become embroiled in a large-scale money laundering investigation, involving a complex web of UK bank accounts held by overseas nationals. From early in our instruction, we asserted […]
Michael O’Kane, Senior Partner of Peters & Peters, hosted the 6 September 2022 event with Giles Thomson, Director of the Office of Financial Sanctions Implementation (OFSI) alongside Maya Lester KC of Brick Court Chambers. The webinar examined OFSI’s response to the expansion of UK sanctions since Russia’s invasion of Ukraine and its structural plans for […]
Crypto authorities must report suspected sanctions breaches to UK authorities. Peters & Peters’ Partner Anna Bradshaw told the Guardian the UK’s move was “in line with the more general expansion of financial services and anti-financial crime regulation to the crypto sector”. “Crypto and virtual assets are treated no differently to any other type of assets […]
Craig Hogg and Caroline Timoney of Peters & Peters discuss in IFA Magazine. Earlier this month Max Hill QC, Director of Public Prosecutions for England and Wales, and Lisa Osofsky, director of the Serious Fraud Office (SFO), spoke at the 39th Cambridge International Symposium on Economic Crime where both expressed their support for expanding the […]
In July, the UK Competition and Markets Authority (CMA) launched an inquiry into ASOS, Boohoo and George at Asda to investigate potentially misleading ‘green’ claims by the three fashion brands. The watchdog is concerned that some of the firms’ fashion products are being marketed as being eco-friendly and sustainable, even though the businesses may […]
