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.  Continue reading

Financial Crime, Market Abuse and Enforcement Timeline – October 2019

Every quarter our financial services regulatory team publishes the Financial Services Regulatory Timeline, a look ahead at key regulatory milestones in the coming months and years in a range of areas, created for our clients in financial institutions. Three areas covered in the Timeline are Financial Crime, Enforcement, and Market Abuse. For the readers of our FSR and Corporate Crime blog, we have produced these sections as a Calendar of key developments in Financial Crime, Market Abuse and Enforcement which can be accessed here.

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Commercial Court considers contractual discretion of bank to close customer account without notice where there is suspicion of money laundering

In a recent decision, the Commercial Court has upheld a financial institution’s decision to exercise its contractual right to close a customer’s accounts and terminate its relationship without notice, where the financial institution had a suspicion that its customer’s accounts were being used for money laundering purposes: N v The Royal Bank of Scotland plc [2019] EWHC 1770. The decision will be welcomed by financial institutions seeking to take action to prevent financial crime occurring through use of accounts provided to customers, under tight time pressure and notwithstanding that the consequences of the bank’s action for the business in question could be severe.

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Corporate Crime Update – Winter 2019

Welcome to the Winter 2019 edition of our corporate crime update – our round up of developments in relation to corruption, money laundering, fraud, sanctions and related matters. Our update now covers a number of jurisdictions.

For the full update on each jurisdiction, please click on the name of the jurisdiction below. Below we provide a brief overview of what is covered in each update.

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Corporate Crime update – December 2018

Welcome to the December 2018 edition of our corporate crime update – our round up of developments in relation to corruption, money laundering, fraud, sanctions and related matters.

This month, we would like to wish all of our regular readers a very happy, and hopefully corporate crime free, festive season! 

For the full update on each jurisdiction, please click on the name of the jurisdiction below.  Continue reading

Criminal Finances Act 2017 provisions to come into force tomorrow

On 12 October 2017, the government published the Criminal Finances Act 2017 (Commencement No. 2 and Transitional Provisions) Regulations 2017 (“the Regulations”), which will bring into force several more sections of the Criminal Finances Act 2017 (the “Act”) on 31 October 2017.

The Act received royal assent on 27 April 2017. It contains various measures intended to “tackle money laundering and corruption, recover the proceeds of crime and counter terrorist financing”. For more information, see our blog post here.

The first commencement regulations under the Act were introduced on 13 July 2017, and brought into effect the “failure to prevent the facilitation of tax evasion” offences from 30 September 2017. For more information on these offences, please see our blog post here.

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Corporate Crime Monthly Update – August 2017

Welcome to the August 2017 edition of our corporate crime update – our round up of developments in relation to corruption, money laundering, fraud, sanctions and related matters. Our update now covers a number of jurisdictions. For the full update on each jurisdiction, please click on the name of the jurisdiction below. Below we provide a brief overview of what is covered in each update.

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