As the head of the Specialist Fraud Division, Kristin Jones has a wish list of things the government could do to make her team's work easier: more money to put into tackling complicated economic crime cases and reforms that would make it easier to prosecute. But at the end of the day, she told Law360, the key to a fraud case is telling a clear story.
The former assistant manager of English soccer team Barnsley Football Club and two football agents appeared at Southwark Crown Court on Monday to face trial over bribery charges.
The British government plans to give the country's pensions watchdog great powers to crack down with tougher sentences and new offenses for executives, part of a wide-ranging suite of reforms unveiled in the queen’s speech Monday.
A former Barclays executive told in-house lawyers he was worried that a secret payment to Qatar to secure an investment as part of an emergency fundraising during the financial crisis would be seen as a bribe, prosecutors said at a London fraud trial Monday.
The insurance industry should be exempt from new rules aimed at making sure multinationals cannot avoid taxes in an increasingly data-driven world, a trade group said Monday.
A court has wound up two companies allegedly involved in a fraudulent art investment scheme targeting the elderly that took approximately £1 million ($1.3 million) of investors’ money, a government agency said Monday.
The U.K. government has approved rules that will relax the money laundering safeguards needed when a borrower takes out a pooled loan with a group of lenders to reduce red tape for syndicated lending, an industry steering group has said.
Federal prosecutors say two former Deutsche Bank traders’ deserve substantial prison time for Libor rigging as a crime “emblematic” of big banks’ bad behavior, while the traders argue that they had already suffered enough as two of the few to be prosecuted over the international scandal.
The long-awaited trial of Privinvest executive Jean Boustani over his role in a securities fraud, bribery and kickback scheme involving $2 billion in Mozambican government loans is scheduled to commence on Tuesday.
MasterCard, eBay and Visa confirmed to Law360 on Friday that they won't be joining the Facebook-led Libra digital currency project, a move that comes one week after PayPal announced it was ending its involvement.
Stephenson Harwood LLP has settled its £6 million ($7.6 million) suit against three funds linked to property tycoon Robert Tchenguiz over unpaid legal fees, according to a London court order.
A London judge on Friday told Eurasian Natural Resources Corp. to give Dechert LLP privileged documents allegedly detailing corruption within the mining company, amid allegations a partner at the firm leaked the materials to the news media and law enforcement.
Britain's gambling watchdog has slapped bookmaker Betfred with a £322,000 ($407,000) fine over failures in its money-laundering safeguards.
The past week has seen asset manager BlueCrest drag a U.S. hedge fund into court following its expansion into the U.K., a City watchdog sue a Panamanian connected to an illegal land sale scheme and a Hong Kong food distributor file suit against shipping giant MSC. Here, Law360 looks at those and other new claims in the U.K.
The Financial Conduct Authority said Friday that it will take a “proportionate and pragmatic” approach to reporting rules if the U.K. crashes out of Europe without a deal or transition period on Oct. 31.
Barclays executives who conspired to pay £322 million ($396 million) in secret fees to secure capital from Qatar during the financial crisis created a fake “audit trail” to cover their tracks, prosecutors told a London jury Friday during the bankers’ fraud trial.
A claims handler has received a three-year prison sentence for he submitting fraudulent insurance claims and attempting to steal £35,000 ($44, 000) from his employer by diverting money into his own account, police said Friday.
A leading insurance industry think tank is collaborating with the International Forum of Terrorism Risk Reinsurance Pools to form a joint task force on cyberterrorism and warfare, the trade bodies have announced.
Interdealer broker Tullett Prebon has agreed to pay a £15.4 million ($19.3 million) fine to settle charges that the interdealer broker had lax controls over its traders and failed to be open and cooperative with a regulatory investigation, the Financial Conduct Authority said Friday.
The United Kingdom's taxing authority, HM Revenue & Customs, said Thursday it would provide more information on tax disputes stemming from avoidance schemes, in response to recommendations from Parliament on how to better dedicate its resources.
A former Citigroup trader acquitted on charges of manipulating foreign exchange markets has accused the bank of fabricating a case for federal prosecutors in order to shield itself from liability, raising eyebrows in the antitrust bar since the government usually goes to great lengths to ensure it’s not being duped.
A former Quinn Emanuel white collar partner who left the BigLaw firm earlier this year has launched a London-based boutique shop specializing in financial crime and compliance.
The First Circuit on Thursday tackled for the first time the issue of whether the wire fraud law applies overseas as it voiced some skepticism over a former State Street Corp. executive’s argument that his crimes did not have enough of a tie to the United States to allow his conviction to stand.
The U.K.’s sanctions enforcer said Thursday that the estimated value of reported breaches of sanctions has fallen from a peak of more than £1 billion ($1.2 billion) last year to just over £250 million this year.
Insurer Hiscox can try to recoup $1.8 million from a former executive who allegedly spent the company's money buying luxury Swiss watches, a London judge has ruled.
Barclays executives concealed £322 million ($396 million) in extra fees paid to Qatari investors who helped the bank raise capital during the financial crisis to avoid looking weak to the stock market, a prosecutor told a London jury Thursday during the Serious Fraud Office’s landmark fraud trial.
Fraud and money laundering are reaching epidemic levels in the U.K., requiring better coordination among law enforcers and more funding from government to combat the threat, the head of the country’s new command center for fighting economic crime told Law360 in an exclusive interview.
Martina Rejsjö and Jimmy Kvarnström talk to Law360 about Nasdaq’s big focus on innovation to better detect patterns in trading behavior, the skills required to work in a tech-driven environment and the issues that take up the bulk of their time on a daily basis.
Antony Whitehouse, UK head of compliance at French bank Natixis, talks to Law360 about the changing role of compliance, the interplay between local regulatory expectations and a global business, plus some of the challenges that Brexit has thrown up for the compliance departments at European banks with operations in London.
The U.K. Competition and Markets Authority's recent fine against PayPal for violating U.K. merger control rules — despite the company's attempts to put safeguards in place — demonstrates how rigid the CMA can be when it comes to initial enforcement orders, say attorneys at Fried Frank.
Serious Fraud Office Director Lisa Osofsky's emphasis on corporate cooperation instead of traditional prosecutions may fail to produce results unless individuals and companies contemplating whether to share information with the SFO can be convinced that the benefits outweigh the risks, says Danielle Reece-Greenhalgh of Corker Binning.
Law firms are beginning to recognize implicit bias as a problem. But too few recognize that it is also an opportunity to broaden our thinking and become better legal problem solvers, says Daniel Karon of Karon LLC.
The Serious Fraud Office's Corporate Cooperation Guidance is arguably less demanding than many would have feared, but some aspects are vague, puzzling or give genuine cause for concern, says Azizur Rahman of Rahman Ravelli.
In this Expert Analysis series, leaders at some of the law firms that committed to the American Bar Association's 2018 pledge to improve mental health and well-being in the legal industry explain how they put certain elements of the initiative into action.
The U.K. National Crime Agency's newly announced strategy of utilizing account freezing, recovery orders and unexplained wealth orders against drug traffickers is arguably misconceived and possibly more of a money-grabbing exercise than anything else, says Jemma Sherwood-Roberts of Corker Binning.
My conservative, Catholic parents never skipped a beat when accepting that I was gay, and encouraged me to follow my dreams wherever they might lead. But I did not expect they would lead to the law, until I met an inspiring college professor, says James Holmes of Clyde & Co.
Paul Martenstyn of Vannin Capital and Daniel Spendlove of Signature Litigation share their top tips on how to get a case funded, drawing from their respective experience as a funder and a lawyer.
U.K. enforcement agencies are growing more comfortable in utilizing unexplained wealth orders and undertaking the complex investigations that follow, but the vast majority of international businesses and private clients in the U.K. with wealth situated overseas should not fear that UWOs will be used against them, says Zoya Burbeza of Zaiwalla & Co.
As shown by the recent acquittal of three Sarclad employees connected to the Serious Fraud Office's Sarclad deferred prosecution agreement, such agreements are not well suited for holding individuals accountable, but introducing a new form of DPAs specifically for individuals would be a step in the right direction, say Ian Hargreaves and Deirdre Lyons Le Croy of Covington.
The European Commission's fine against Canon is one of several recent examples of competition law enforcement that should remind merging companies to carefully assess their actions at the crossroads between permissible preparatory measures and premature transaction implementation, says Andrea Pomana of Debevoise & Plimpton.
The U.K. Fraud Advisory Panel's recent report about unchecked domestic corruption is justified to an extent, but it may be too harsh to make a blanket condemnation of U.K. enforcement agencies' approach to tackling economic crime, says Syedur Rahman of Rahman Ravelli.
Recent cases involving major technology companies and their acquisition of smaller firms have called international attention to the adequacy of competition policy frameworks, and recent proposals in Europe and Australia reveal the onset of an interventionist approach from regulators, say analysts at Cornerstone Research.
The Global Forestry Investments case's progression, from the Insolvency Service's involvement to recent charges by the Serious Fraud Office, indicates that those responsible for serious financial losses may face criminal prosecutions in addition to regulatory penalties, says Maria Theodoulou of Stokoe Partnership Solicitors.
In Europe, evaluating the risk of launching an artificial intelligence system trained by tainted data can be challenging, but identifying the relevant rights, possible sanctions and whether the issue is ongoing can put lawyers well on their way to understanding the risk profile, say Toby Bond and Nick Aries of Bird & Bird.