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Corporate Crime & Compliance UK
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July 30, 2025
BigLaw Firms Ordered To Explain Leak Of PrivatBank Decision
Law firms including Hogan Lovells and Fieldfisher LLP will be required to provide witness statements after the High Court judge overseeing the long-running PrivatBank fraud case revealed on Wednesday that his judgment had apparently been leaked.
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July 30, 2025
Gupta Hit With $6.7M Fraud Claim Over False Deposit Docs
A U.K. commodities broker won its bid on Wednesday to bring a fraud claim worth almost $7 million against Prateek Gupta, with the High Court dismissing the metal mogul's argument that the claim shouldn't be heard in England.
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July 30, 2025
Govt's National Wealth Fund Ignored Worker's Pay Concerns
The U.K. government's National Wealth Fund subjected an employee to sexual discrimination after it failed to address his request for a pay review, an Employment Tribunal has ruled.
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July 30, 2025
Axed Charity Staffer Wins Early Battle In Whistleblowing Claim
A tribunal has ordered a London charity to reinstate a former member of staff or keep paying her after she showed there is a "pretty good chance" that her whistleblowing over an irregular payment led to her dismissal.
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July 30, 2025
PrivatBank Wins $1.9B Fraud Case Against Ex-Owners
The former owners of PrivatBank are liable to pay the Ukrainian lender for a fraud that cost the bank billions, a London judge ruled on Wednesday almost two years after the trial over sham loans linked to fictitious commodity trades concluded.
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July 30, 2025
Looser SMCR May Leave Banks More Open To Fraud Charges
The Financial Conduct Authority's proposed partial relaxation of the approval process under its senior managers regime as the U.K. pushes for deregulation could leave companies more exposed to fraud prosecution as the failure to prevent fraud offense goes live in September.
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July 29, 2025
JV Partner Found To Have Inflated Costs In London Project
A Dubai-based businessman has largely succeeded in a complex dispute over a joint venture after a London judge ruled that other parties to the deal had inflated costs in invoices to pocket part of the payments as profit.
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July 29, 2025
UK Top Court's Leeway On Sanctions Could Embolden Gov't
The respect shown by the U.K. Supreme Court to the British government on foreign affairs could encourage ministers to use sanctions in unforeseen ways, allowing politicians to achieve policy goals that are limited by legal challenges, lawyers say.
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July 29, 2025
Forex Biz Can't Avoid Liability For Deceit In $10M Deal
A foreign exchange business lost its fight on Tuesday to challenge a ruling that it could not defend claims that its agent deceived a Nigerian broker in a $10 million transaction, despite winning challenges over lesser deals worth $6 million.
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July 29, 2025
Fake Threats Claim To Be Heard At £50M Waste Dumping Trial
Allegations by a former director of a quarry that the site's owner fabricated evidence to support an asset-freezing order will be heard during a trial of a £50 million ($67 million) claim that ex-bosses allowed illegal waste dumping, the Court of Appeal ruled Tuesday.
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July 29, 2025
Ex-JPMorgan Trader Drops Bid For Remedy Over Unfair Firing
A former JPMorgan Chase metals trader has told an employment tribunal that he won't be pursuing his case for compensation any further despite winning his unfair dismissal claim against the bank over a faulty "spoofing" investigation.
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July 29, 2025
'Hollywood Con Queen' Fails To Quash US Extradition
An Indonesian man lost his appeal Tuesday to stave off extradition from the U.K. to the U.S. to face accusations he impersonated female Hollywood executives to con more than 300 film industry workers into traveling to Indonesia for false movie projects.
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July 29, 2025
EU Watchdog Finds Failings In AML Defenses At Crypto-Firms
The banking watchdog of the European Union has warned that many crypto-asset companies lack effective anti-money laundering systems, reporting that abuse of services in the sector for financial crime is a major concern.
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July 29, 2025
FCA Sues Property Biz Over £23M Investment Scheme
The City watchdog said Tuesday that it has taken Concept Capital Group to a London court over an alleged unauthorized £23 million ($30 million) investment scheme related to static homes.
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July 29, 2025
Shvidler Loses Landmark UK Sanctions Challenge
Britain's highest court upheld sanctions against billionaire oil tycoon Eugene Shvidler in a landmark ruling on Tuesday that backs the U.K. government's authority to impose the restrictions over Russia's invasion of Ukraine.
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July 28, 2025
Fraud Claims 'Smaller Slice' As Crypto Litigation Booms
As litigation involving cryptocurrency significantly increases, fraud cases represent a lesser share of the total number of crypto disputes, according to a report published Monday by CMS Cameron McKenna Nabarro Olswang LLP.
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July 28, 2025
Ex-Telecom Manager Can't Shield ID In Whistleblowing Claim
A manager who was made redundant by the U.K. branch of a Chinese state-owned telecommunications operator can't remain anonymous as he brings whistleblowing claims, an employment tribunal has ruled.
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July 28, 2025
EU Says Temu Failing To Prevent Sale Of Illegal Products
Temu has failed to properly assess the risks of illegal products being sold on its marketplace, including non-compliant baby toys and small electronics, according to preliminary findings from the European Commission published Monday.
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July 28, 2025
Citigroup Defends $16M VTB Russian Securities Sale Losses
Citigroup has denied claims that it caused a VTB Bank subsidiary to lose almost $16 million by taking an irrational approach to liquidating securities after the Russian lender defaulted on a demand for collateral amid market volatility following Vladimir Putin's invasion of Ukraine.
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July 28, 2025
UK Man Denies Making Crypto Transfers To Russian Militias
A British-Russian national who allegedly funded pro-Russian militia groups in occupied eastern Ukraine through bitcoin payments on Monday denied breaching the U.K. sanctions regime.
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July 28, 2025
Investment Boss Told To Pay Back £170K From £37M Fraud
A director of an ethical investment scheme imprisoned for defrauding investors out of £37 million ($50 million) was ordered by a court on Monday to pay back £170,000 or have two years added to his sentence.
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July 28, 2025
Allianz Life Hack Attack Exposes Most Clients' Info
Insurance giant Allianz has said that hackers have stolen personal data from most of its 1.4 million customers in America after cybercriminals hacked into a third-party system used by its U.S. subsidiary.
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July 28, 2025
European Reinsurer Fined £1.79M Over Post-Brexit Failings
The Bank of England's regulatory arm said on Monday that it has fined the London branch of a Luxembourg-based reinsurer £1.79 million ($2.4 million) for failing to have adequate controls in place during Britain's exit from the European Union.
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July 27, 2025
Suspected Trading Scam 'Mastermind' Can't Block Extradition
An Israeli accused of being the "mastermind" behind call centers that allegedly scammed investors out of €14 million ($16 million) by posing as trading platform employees lost a bid on Friday to block his extradition to Germany from the U.K.
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July 25, 2025
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen the owner of a £6 million ($8 million) mansion once rented by Adele sue real estate consultants Strutt & Parker, Romanian-Australian mining investor Vasile Frank Timis bring a claim against reputation and privacy firm Schillings, and a Chinese businessman bring a legal action against his former lawyer over an alleged £12.5 million mortgage fraud.
Expert Analysis
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The Pros And Cons Of A 2nd Trump Term For UK Tech Sector
While U.S. President Donald Trump’s protectionist stance on trade could disrupt global supply chains on which many U.K. tech firms are reliant, anticipated deregulation could provide fertile ground for investment and growth, and the U.K. tech sector is bracing for a mix of opportunities, say lawyers at Shoosmiths.
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Why EU Omnibus Package Is Receiving Mixed Reactions
Although the forthcoming European Union omnibus simplification package consolidating corporate sustainability reporting requirements aims to reduce the regulatory burden on businesses, reaction to the proposals has been mixed, and reassurance is needed that these measures will not result in a watering down of the legislation, say lawyers at Peters & Peters.
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Review Of Computer Evidence Use Raises Complex Issues
The Ministry of Justice’s recent call for a review of computer-generated evidence used in criminal proceedings, solicits questions of how such evidence will be defined while also ensuring that changes can withstand technological advances and uphold the effective functioning of the criminal justice system, say lawyers at BCL Solicitors.
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How Proposed Private Share Trading System May Benefit Cos.
The government's proposal for a private securities and capital exchange system intends to enhance market practices and risk tolerances, offering a significant way for firms to free up liquidity by allowing investors to trade existing private company shares, say lawyers at Mishcon de Reya.
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New Bill Introduces Important Whistleblower Protections
If enacted, a bill that proposes the establishment of an independent whistleblower office in the U.K. offering protected disclosures will encourage individual whistleblowers, and alleviate the pressure for companies to investigate complaints, say lawyers at Tenet Law.
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Important Changes To Note In Accountant Ethics Code Update
The Institute of Chartered Accountants of England and Wales' forthcoming code of ethics will bring a number of significant updates to raise standards within the profession, but also risks of professional indemnity claims that could lead to challenges for firms, say lawyers at RPC.
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What EU Sustainable Category Proposals Will Mean For Funds
The European Union Platform on Sustainable Finance’s recent proposals to apply stricter product categorization standards for funds subject to the Sustainable Finance Disclosure Regulation will assist retail investors in selecting sustainable products, and allow advisers to easily match their clients’ preferences, say lawyers at Debevoise.
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What To Expect As CAT Considers Mastercard Settlement
It is expected that the Competition Appeal Tribunal will closely scrutinize the proposed collective settlement in Merricks v. Mastercard, including the role of the case’s litigation funder, as the CAT's past approach to such cases shows it does not treat the process as a rubber stamp exercise, say lawyers at BCLP.
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Managing Transatlantic Antitrust Investigations And Litigation
As transatlantic competition regulators cooperate more closely and European antitrust investigations increasingly spark follow-up civil suits in the U.S., companies must understand how to simultaneously juggle high-stakes multigovernment investigations and manage the risks of expensive new claims across jurisdictions, say lawyers at Paul Weiss.
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What 2025 Holds For UK, EU Restructuring And Insolvency
European Union and U.K. restructuring developments in 2024, with a new era of director accountability, the use of cramdown tools and the emergence of aggressive liability management exercises, mean greater consideration of creditors' interests and earlier engagement in restructuring discussions can be expected this year, says Inga West at Ashurst.
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What To Know As EU Urges Outbound Investment Reviews
A recent European Commission recommendation urges European Union member states to review outbound investments in certain critical technologies sectors, but does not clarify the next steps for states once information on relevant transactions in third countries is received, say lawyers at Cleary.
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Competition Act Brings Important UK Merger Control Changes
Although recently effective sections of the Digital Markets, Competition and Consumers Act provide clarity on the transactions that may attract Competition and Markets Authority attention, some reforms potentially expanding the regulator's scope may be concerning to transacting parties, say lawyers at Fried Frank.
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How GCs Can Protect Cos. From Geopolitical Headwinds
Geopolitical uncertainty is perceived by corporate leaders as the biggest short-term threat to global business, but many of the potential crises are navigable if general counsel focus on what is being said about a company and what the company is doing, says Juliet Young at Schillings.
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What BT Ruling Will Mean For UK Class Actions
The Competition Appeal Tribunal’s recent dismissal of a £1.3 billion mass consumer claim against BT, the first trial decision for a U.K. collective action, reminds claimants and funders of the high bar for establishing an abuse, and provides valuable insight into how pending mass consumer cases may be resolved, say lawyers at Ashurst.
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Navigating PRA's Data Request For Crypto-Asset Exposure
The Prudential Regulation Authority’s recent data request for details on financial institutions' crypto-asset exposures should be used as an opportunity for firms to update their compliance procedures, and consider the future use of crypto-assets and related services, says James Wickes at RPC.