UK Corporate Crime & Compliance provides breaking news and analysis on enforcement and white collar crime in Europe. Coverage includes internal investigations, whistleblower rights, executive responsibility, tax evasion, criminal market abuse and insider dealing actions, anti-money laundering, bribery, corruption and sanctions enforcement.
The Serious Fraud Office announced on Monday it has opened an investigation into failed lender London Capital & Finance PLC, which collapsed in January, leaving thousands of customers out of pocket.
Genworth Financial Inc., which is being sued for nearly £265 million ($351 million) by rival French insurer AXA SA over a missold insurance product, can seek to shift the blame onto two British units of Santander, London’s High Court has said.
The Serious Fraud Office has seized more than £1.5 million ($2 million) in illicit funds from a property tycoon wanted in connection with Britain’s biggest ever mortgage con.
The last week has seen a commercial fraud claim filed against the founders of now-defunct sports marketing giant MP & Silva, Kuwait's social security agency sue several Swiss banks and its former head, and AXA lodge an action against the company behind Admiral Insurance. Here, Law360 looks at those and other new claims in the U.K.
A London judge on Friday sentenced a former Royal Air Force private to 30 months in prison for hacking into the Ministry of Defence's payroll system, stealing more than £108,000 and then laundering the cash through others, saying the man "abused the considerable position of trust" given to him.