The new DPA landscape for fraud

24 February 2024 will mark the tenth anniversary of Deferred Prosecution Agreements ("DPAs") being introduced in the UK as a means of resolving corporate crime. The article, 'The new DPA landscape for fraud', considers the key themes emerging from the DPAs that have been agreed to date and the likely use of DPAs in light of the incoming failure to prevent fraud offence and the recent expansion of the identification principle under the Economic Crime and Corporate Transparency Act 2023. Read more

Transparency International publishes CPI 2023

On 30 January 2024, Transparency International (“TI“) published the Corruption Perceptions Index 2023 (“CPI“). The CPI, which is the most widely used indicator of corruption worldwide and covers 180 countries, scores and ranks countries (or territories) based on how corrupt a country’s public sector is perceived to be by experts and business executives. Read more

The EU Anti Money Laundering Authority and the AML reform package: an update

In July 2021, the European Commission presented a package of legislative proposals designed to combat money laundering, terrorist financing and the evasion of sanctions. These proposals included the establishment of a new EU agency, the Anti Money Laundering Authority (AMLA). On 13 December 2023, the EU Parliament and Council of the EU announced that they had reached a "provisional agreement" on the AMLA's creation. Read more

Economic Crime and Corporate Transparency Act 2023: Jurisdictional scope of the Failure to Prevent Fraud Offence

The Economic Crime and Corporate Transparency Act 2023 (the ECCTA) received Royal Assent in October 2023. Among other reforms, the ECCTA introduced a new offence of failure to prevent fraud (the FTP Fraud Offence), which is expected to come into force by 2025. In the latest in our series of briefings and podcasts on the ECCTA, this briefing focuses on the broad jurisdictional scope of the FTP Fraud Offence. You can also listen to our podcast on this topic here, and access our earlier briefings/podcasts on the ECCTA here. Read more

OFSI publishes Annual Review 2022-23

On 14 December 2023, HM Treasury's Office of Financial Sanctions Implementation ("OFSI") published its Annual Review for the 2022-23 financial year (the "Annual Review"). As expected, the Annual Review predominantly focuses on the UK sanctions imposed against Russia following its invasion of Ukraine in February 2022. However, the publication also provides an overview of the other work OFSI has carried out in respect of other regimes during the 2022-23 financial year. Read more