Experian Exposed To South Africa’s Biggest Ever Data Breach

On Wednesday 19 August 2020 news broke that Experian, a consumer, business and credit information service agency suffered a significant data breach which exposed personal information of approximately 24 million South Africans and 793,749 business entities to a suspected fraudster. This is one of the largest ever data breaches experienced in South Africa. According to Experian, the fraudster posed as a legitimate client resulting in information being provided. Read more

Corporate Crime update – August 2020

Welcome to the August 2020 edition of our corporate crime update - our round up of developments in relation to corruption, money laundering, fraud, sanctions and related matters. Read more

Lending Standards Board launches consultation on Contingent Reimbursement Model

On 15 July 2020, shortly after the first anniversary of its assumption of governorship of the Contingent Reimbursement Model (“CRM”) Code, the Lending Standards Board (LSB) launched a consultation which will form the basis of its post-implementation review of the CRM Code. The LSB’s review also extends to its Practitioners Guide (which is made available only to signatories of the CRM Code) and its Information for Customers document. Read more

At our recent Corporate Crime & Investigations webinar, over 100 clients identified their Financial Crime related concerns arising from, and the measures they have adopted in response to, the Covid-19 crisis.

Herbert Smith Freehills LLP's Seventh Annual  Corporate Crime & Investigations (“CC&I”) Conference is being held as a Global Conference Series of webinars over the upcoming months. The first webinar took place on 18 June 2020 and covered the topic of “CC&I in the time of Covid-19”. Read more

Pressure Points: Covid-19 and Fraud

Covid-19 restrictions are being slowly eased, but the impact of the pandemic and related lockdown measures on financial crime risk and on related compliance measures continues to be a high priority for business. In our April briefing, we analysed the impact of the restrictions on the UK criminal justice system – in particular, the practical issues facing law enforcement agencies (LEAs), the courts and the prison service. Read more

Megan Butler on the FCA’s response to Covid-19 and expectations for 2020

On 4 June 2020, Megan Butler, Executive Director of Supervision – Investment, Wholesale and Specialists at the FCA, delivered a speech on the FCA’s response to Covid-19 and expectations for 2020. Addressing a virtual audience at PIMFA’s Virtual Festival, Ms Butler explored the FCA’s priorities and longer-term expectations, in particular for the wealth management and advice industry. This briefing considers the key points from the speech. Read more

Corporate Crime update – Spring 2020

Welcome to the Spring 2020 edition of our corporate crime update - our round up of developments in relation to corruption, money laundering, fraud, sanctions and related matters. Read more