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Corporate Crime & Compliance UK
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October 20, 2025
FCA Flags Money Laundering Risks At Corporate Finance Cos.
One in 10 corporate finance companies has no documented business-wide risk assessment, the City watchdog said Monday, warning that many organizations might be falling short of money laundering standards.
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October 20, 2025
Secure Trust Bank Sets Aside £21M For Car Finance Claims
London-listed lender Secure Trust Bank PLC said Monday that it plans to increase the amount it sets aside for an industry-wide motor finance compensation program to £21 million ($28 million), as it criticized the finance watchdog's approach to redress.
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October 17, 2025
CPS Thrown Into Uncharted Waters By Spy Trial Collapse
The government's decision to publish full witness statements from an abandoned spying trial in an attempt to draw a line under the political furor has surprised former officials and white-collar lawyers, who say it throws the Crown Prosecution Service into uncharted waters.
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October 17, 2025
Couple Among 14 Sentenced Over £28M Timeshare Fraud
Fourteen people have been convicted and sentenced for their part in a £28.1 million ($37.7 million) investment fraud which involved them selling a worthless investment product to consumers on the promise of getting rid of their timeshares, prosecutors said Friday.
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October 17, 2025
Shipping Giant Gets Early Win In Ex-Employee's Forgery Case
A global shipping company has beat back a former employee's bid to be paid as he sues the company for allegedly forcing him to resign after he raised concerns that its environmental records had been forged.
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October 17, 2025
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen Johnson & Johnson hit with a £1 billion ($1.34 billion) claim for allegedly selling contaminated baby powder, Carter-Ruck bring a claim against the Solicitors Regulation Authority, and Hewlett Packard file a probate claim against the estate of Mike Lynch.
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October 17, 2025
Man Gets Prison For Hiding Assets In $80M Dubai Bank Case
A businessman who fraudulently helped three members of his Emirati family evade an £80 million ($107 million) judgment debt to a Dubai bank was sentenced on Friday to two years imprisonment for contempt of court.
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October 17, 2025
Global Watchdog Calls On Countries To Monitor Crypto Better
An international securities watchdog called on countries Friday to monitor risks in crypto-assets and share regulatory information better across borders.
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October 17, 2025
Student Ducks Prison After Promoting Tax Fraud On Instagram
A London-based student has become the first person to be convicted of inspiring others to defraud Britain's tax collector on social media after he used Instagram to encourage criminal attacks on VAT systems, HM Revenue and Customs said Friday.
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October 17, 2025
FCA's Tokenization Plan May Heighten Financial Crime Risk
The Financial Conduct Authority's planned tokenization regime to help asset managers trade investment funds as digital assets could expose investors to financial criminals lurking in crypto-markets, with the regulator's "targeted support" rules multiplying the risk, lawyers have warned.
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October 17, 2025
Ex-Solicitor Gets 4 Years For £400K Theft From Clients
A former solicitor and part-time judge who misappropriated almost £400,000 ($537,000) from clients between 2003 and 2020 has been sent to prison for four years.
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October 16, 2025
Banks Must Do More To Stop Romance Fraud, FCA Warns
The Financial Conduct Authority warned Friday that banks must do more to stop romance scams, which cost victims £106 million ($142 million) in 2024.
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October 16, 2025
OFSI Reports It Froze £37B In Shift To Proactive Enforcement
The U.K.'s sanctions enforcer has revealed that over £37 billion ($49.7 billion) in assets were reported as frozen in the 2024-25 financial year, up more than 50% from the year before, in a signal of an increasingly proactive approach to enforcing financial penalties.
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October 16, 2025
FilmOn Founder In Contempt In Sex Assault Judgment Debt
The founder of FilmOn and heir to a Coca-Cola fortune was found in contempt of court on Thursday for failing to provide information in proceedings to enforce in England one of several multimillion-dollar judgments over sexual assault claims.
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October 16, 2025
CMA Calls For Reforms To UK Veterinary Market
The U.K.'s competition watchdog has called on the £6.3 billion ($8.5 billion) veterinary services market to provide better information on prices after a spike in insurance claims at major players drove up costs, despite no evidence of better services.
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October 16, 2025
MPs Launch Probe Into CPS Decision To Drop China Spy Case
Senior parliamentarians said Thursday that they will launch a formal inquiry into the collapse of the Chinese spying case, heaping pressure on the Crown Prosecution Service just hours after the government published crucial evidence that caused the trial to be abandoned.
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October 16, 2025
UK Open To Behavioral Remedies During Merger Reviews
The antitrust authority said Thursday that it is weighing a more flexible approach to remedies during merger reviews that would require it to regulate the behavior of the companies involved as it backs the government's growth agenda.
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October 15, 2025
Funeral Director Admits Fraud, Faces Trial On Other Counts
A funeral director pleaded guilty to 36 fraud offenses at an English criminal court Wednesday in a case centered on wrongdoing in funeral plans.
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October 15, 2025
CPS Eyes Compensation Plan In £5B Bitcoin Fraud Dispute
British prosecutors said Wednesday they will set up a compensation program for thousands of Chinese investors defrauded by a money launderer convicted in the U.K. as part of a scramble for £5.1 billion ($6.8 billion) in seized cryptocurrency.
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October 15, 2025
Ex-Clerk Must Repay £220K For Role In Legal Aid Fraud
A London judge on Wednesday ordered a former legal clerk to hand over more than £220,000 ($294,000) following his convictions for leading a scheme to make bogus legal aid claims for criminal defense costs worth over £12.5 million.
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October 15, 2025
UK Adds Over A Dozen Countries To Global Minimum Tax List
HM Revenue & Customs added more than a dozen countries to the list of states implementing Pillar Two's global minimum tax rules, the tax authority said Wednesday.
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October 15, 2025
Mercedes Denies Using VW-Style 'Dieselgate' Tech
Mercedes-Benz told a London court on Wednesday that their vehicles do not contain the same technology installed by Volkswagen that sparked the "Dieselgate" scandal as car manufacturers began their defense of a major group claim by motorists.
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October 15, 2025
Rosneft And Lukoil Targeted In UK's Latest Russia Sanctions
The British government said Wednesday that it has hit the Russian energy industry with "the strongest sanctions yet," targeting oil giants Rosneft and Lukoil in order to stifle funding for Russia's war in Ukraine.
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October 15, 2025
Starmer Vows To Publish Key Evidence In China Spy Case
Keir Starmer told Parliament on Wednesday that the government will publish the evidence it handed to prosecutors for criminal proceedings against two men accused of spying for China as political pressure grows over the Crown Prosecution Service's decision to drop the case.
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October 15, 2025
Axiom Ince Staffer Wins £21K For Unfair Dismissal
A former executive assistant at Axiom Ince is entitled to claim more than £21,000 ($28,060) in compensation, a tribunal has ruled, as it said that the law firm breached his employment contract by firing him without giving him three months' notice.
Expert Analysis
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New Interpol Silver Notice Could Be Tool For Justice Or Abuse
Interpol has issued dozens of Silver Notices to trace and recover assets linked to criminal activity since January, and though the tool may disrupt organized crime and terrorist financing, attorneys must protect against the potential for corrupt misuse, say attorneys at Clark Hill and Arktouros.
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Weighing PE Transaction Risks As EU AI Act Rolls Out
As the European Union Artificial Intelligence Act becomes effective in stages, legal practitioners involved in private equity deals should consider the transactional risks resulting from this measure, including penalties, extraterritorial reach and target-firm applicability, say lawyers at Covington.
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Preparing For Literacy Compliance Under EU AI Act
The European Commission's recent Q&A on artificial intelligence literacy is designed to assist with European Union AI Act compliance, but since the law does not require a one-size-fits-all approach, organizations need to consider specific use cases and focus on implementing staff training, says Edward Machin at Ropes & Gray.
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EU Banking Watchdog Regulations Herald New AML Era
The European Banking Authority’s forthcoming anti-money laundering package will set a framework for compliance across the European Union by redefining the rules of engagement between financial institutions and supervisors, setting a new standard for transparency and accountability, say lawyers at A&O Shearman.
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UK-EU Competition Agreement Signals Rebuilding Of Ties
The European Commission’s recent adoption of proposals to sign the European Union-U.K. competition agreement is a welcome first step toward better policy and enforcement convergence, providing a clearer legal framework for businesses to manage regulatory risk, says Charles Whiddington at Steptoe.
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What To Expect As UK, US Gov'ts Develop Stablecoin Policies
While the U.K. and U.S. governments’ policies both suggest that fiat-backed stablecoins can improve efficiency and safety in payments systems, a perception that crypto-assets remain high risk means consumers are unlikely to use them in significant volume anytime soon, say lawyers at Cadwalader.
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Decoding Arbitral Disputes: UK Injunctions Across Borders
A recent High Court of Justice decision allowing JPMorgan Chase Bank to block VTB Bank from bringing suit in a Russian court provides a seminal reflection on the power of English courts to issue antisuit injunctions when global banking disputes increasingly straddle multiple jurisdictions, says Josep Galvez of 4-5 Gray's Inn.
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7 Reforms To Note Under New UK Data Protection Law
Although the recently enacted Data Use Act’s changes to U.K. law are subtle, its reforms go beyond data protection, including changes that redefine the scope of scientific research and an update that clarifies what constitutes automated decision-making, says James Castro-Edwards at Arnold & Porter.
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How Regulators Want Online Platforms To Fight Finance Fraud
Recent statements from the International Organization of Securities Commissions and the European Securities and Markets Authority make clear that online platform providers are expected to adopt proactive measures to prevent the promotion of unauthorized financial services and related misconduct, say lawyers at Taylor Wessing.
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FCA Notes Industry Criticism But Keeps Transparency Focus
The Financial Conduct Authority’s recently updated enforcement guide finally gives up the "naming and shaming" public interest test, demonstrating that the regulator has recognized the industry's serious concerns while maintaining less contentious aspects of its proposals to improve transparency in investigations, say lawyers at Irwin Mitchell.
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Anticipating A Shift In CMA Merger Control Enforcement
As the Competition and Markets Authority outlines plans to put the U.K. government's growth objectives into action, the changes may well pave the way for a more permissive outlook for review of mergers and acquisitions in the U.K., say lawyers at A&O Shearman.
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Court Backing Of FCA Pensions Ruling Sends Key Message
The Upper Tribunal’s recent upholding of the Financial Conduct Authority's decisions against CFP Management directors serves as a judicial endorsement of the regulator’s approach to defined benefit transfers, underscoring that where the advisory model is fundamentally flawed, the consequences for those in control can be severe, say lawyers at RPC.
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What To Note As UK Adopts OECD Crypto Disclosure Rules
With the U.K.’s recent announcement that it will adopt the Organization for Economic Cooperation and Development's crypto-asset reporting framework, users and providers will benefit from understanding the context surrounding the decision and the framework's intended goal of clamping down on tax evasion, say lawyers at Brown Rudnick.
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Why UK Sanctions Review Recommendations Lack Substance
The recent U.K. cross-government sanctions enforcement review makes welcome but unambitious recommendations, and without increasing funding for sanctions agencies or developing a whistleblower incentivization scheme, it is unlikely to result in tangible support for the sectors that most need it, say lawyers at WilmerHale.
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How UK Law Firms Can Counter Money Laundering Threat
With figures released in May showing that money laundering was the biggest source of fraud in the U.K. last year, law firms should focus on internal identification and prevention strategies, considering the scale and nature of potential risk exposure depends on several business factors, says Niall Hearty at Rahman Ravelli.