Corporate Crime & Compliance UK

Sign on the building outside the main criminal court in London.

Lawyers Warn Jury-Free Trials Won't Solve Court Backlog

Proposals to create a new division of court without juries will not solve the backlog of cases facing the criminal justice system without long-term investment to undo systemic underfunding, lawyers warned Wednesday.

Wider FCA Misconduct Rule Risks Over-Reporting Of Staff

The rule change proposed by the Financial Conduct Authority on non-financial misconduct for 37,000 companies outside the banking sector will generate pressure on businesses to protectively report employees to the regulator rather than risk later accusations of noncompliance.

FCA's New Enforcement Regime Threatens Firms, Individuals

The Financial Conduct Authority could damage the reputations of businesses and individuals under investigation in cases that it publicizes anonymously as an unintended consequence of a new enforcement policy, lawyers have warned.

Jes Staley at the Rolls Building in London

How Staley's Legal Bid To Save His Reputation Backfired

Former Barclays boss James "Jes" Staley's bid to salvage his reputation has backfired in the face of a London tribunal's findings he "lacked credibility" due to the "overwhelming" evidence of his close relationship with convicted sex offender Jeffrey Epstein.

July 10, 2025
Russian Banker Inks Sanctions DPA After FBI Botches Warrant

The founder of Bank Otkritie on Thursday secured a deferred prosecution agreement with Manhattan federal prosecutors to resolve allegations of assisting the head of Russian state-backed lender VTB Bank in evading U.S. sanctions, just a month after a swath of email evidence was thrown out over a botched FBI search warrant.
July 10, 2025
Ninth Person Convicted In €2.3M German VAT Fraud

A German court has convicted the ninth individual linked with a €2.3 million ($2.7 million) value-added tax fraud scheme involving international trade of cars, European Union prosecutors announced Thursday.
July 10, 2025
14 Arrested Over Suspected Phishing-Tied Tax Fraud Scheme

Fourteen people have been arrested as part of an international investigation into a large-scale tax fraud operation that used personal data stolen in phishing attacks, the U.K. tax authority announced on Thursday.
July 10, 2025
Rusal Can Serve Claim On Abramovich Via Oligarch's Lawyers

A London judge on Thursday approved Russian aluminum giant Rusal to serve a claim on Russian oligarch Roman Abramovich via his lawyers over alleged breaches of an agreement setting out the governance of a Russian mining company.
July 10, 2025
Four Arrested Over Cyberattacks On M&S, Co-Op and Harrods

The National Crime Agency arrested four people on Thursday for their suspected involvement in cyberattacks that targeted retail giants Marks & Spencer, the Co-op and Harrods.
July 10, 2025
UK Watchdog Investigating Deloitte, Azets Over Stenn Audits

The U.K. accounting watchdog said Thursday it has started investigations into accounting firms Azets Audit Services Ltd. and Deloitte LLP over their audit of U.K. invoice financing firm Stenn Assets, which collapsed in 2024 after a lender found suspicious transactions.
July 10, 2025
Signature Hires 2 Pros For New White Collar Crime Practice

Signature Litigation LLP said Thursday that it has hired two new partners from Goodwin Procter LLP and Cadwalader Wickersham & Taft LLP in London to spearhead the launch of a new global white collar crime practice.
July 10, 2025
EU Prosecutors Detain 8 Individuals In €68M VAT Fraud Probe

European Union prosecutors revealed Thursday that they have detained eight people in Spain for their alleged involvement in a €68 million ($80 million) value-added tax fraud linked to alcohol imported from other member states.
July 10, 2025
Housebuilders To Pay £100M After CMA Info-Sharing Probe

A group of housing developers has agreed to pay a record £100 million ($136 million) to build affordable homes after an investigation into suspected illegal information sharing by Britain's competition watchdog.
July 09, 2025
OFAC Fines Tech Co. $1.4M Over Iran Sanctions Violations

Harman International Industries Inc. has agreed to pay more than $1.4 million to settle allegations from the U.S. Department of the Treasury's trade sanctions enforcement arm that various compliance deficiencies at the audio electronics company contributed to Iran sanctions violations.
July 09, 2025
Sweden Wins €60M Pension Fraud Case Against Financier

A London court has ruled that a financier defrauded the Swedish government by setting up an illegitimate investment fund that took €60.7 million ($71.1 million) from savers' pension accounts.
July 09, 2025
Insurers Argue $37M Liability Void Over Director's Charges

Six insurers told an appeals court Wednesday they should not have to pay $37 million to the owners of a cargo ship seized by the Indonesian navy because the policy was rendered void by the owner's failure to disclose that its director faced criminal charges.
July 09, 2025
BoE Flags Cyber Risk Blind Spots In Stress Test

The Bank of England's regulatory arm has warned companies that financial firms are ill-prepared for a cyberattack that threatens timely settlements.
July 09, 2025
Mastercard Unit Fined £12M Over Compliance Failures

The Bank of England said Wednesday that it has slapped an £11.9 million ($16.2 million) fine on Mastercard's U.K. payment systems operator Vocalink, in what the central bank called a first for a financial infrastructure company.
July 08, 2025
Fraud Trials Without Juries At Heart Of Radical Court Reform

A landmark independent review of England's ailing criminal court system on Wednesday called for serious and complex fraud cases to be tried by judge alone and the creation of a new category of court without juries.
July 08, 2025
Post Office Blamed For Adversarial Stance To Scandal Claims

The Post Office and its advisers adopted an "unnecessarily adversarial attitude" to those seeking financial redress for the Horizon IT scandal, according to the first findings published Tuesday by the public inquiry into what has been labeled the worst miscarriage of justice in U.K. modern history.
July 08, 2025
Oil Co. Says Nigeria Shouldn't Profit From £44M Legal Bill

An oil and gas company at the center of a fraud scandal arising from an $11 billion arbitration award issued against Nigeria urged the U.K.'s highest court Tuesday to change the currency for Nigeria's legal costs, arguing that the country would unjustly benefit from the depreciation of its own currency.
July 08, 2025
Ban On Misconduct NDAs Throws Settlements Into Question

The government's proposal to void nondisclosure agreements covering alleged harassment and discrimination at work will discourage employers from settling claims, putting more pressure on tribunals and early conciliation services.
July 08, 2025
Ex-Axiom Chief Ordered To Pay £5M SRA Intervention Costs

A London court ordered the former chief of Axiom Ince Ltd. to pay the multimillion-pound cost of regulatory intervention into the firm on Tuesday after concluding that he was involved with its misuse of £65 million ($88 million) of its clients' cash.
July 08, 2025
Monzo Bank Fined £21M For Financial Crime Failings

The Financial Conduct Authority said Tuesday that it has fined Monzo Bank £21 million ($28.6 million) for failings in financial crime controls between October 2018 and August 2020.
July 07, 2025
Malaysia Info Demand Gets Green Light In $14.9B Dispute

A Delaware judge has declined to nix an order allowing units of Malaysia's national energy company to seek discovery relating to a third-party funding deal that led to a $14.9 billion arbitral award issued against Kuala Lumpur following a territorial dispute stemming from a 19th-century land deal.
July 07, 2025
Campaign Groups Fight For Full 'Dieselgate' Documents

Automakers accused of fitting emissions-test cheating devices in their cars should be forced to remove redactions they have made to documents filed in litigation brought by U.K. motorists, two climate campaign organizations argued at a hearing on Monday.
July 07, 2025
Apple Appeals 'Unprecedented' €500M EU Digital Markets Fine

Apple Inc. launched an appeal on Monday to the European Commission's €500 million ($586 million) fine over anticompetitive behavior on its App Store that allegedly breached the European Union's Digital Markets Act.
July 07, 2025
Law Firm Gets 'Vague' £4.6M Negligence Case Struck Out

A London court struck out on Monday an energy company's £4.6 million ($6.3 million) claim against Benson Mazure LLP, because the law firm would have unreasonable difficulty understanding and responding to the "vague and confused" case.
July 07, 2025
TikTok Loses Appeal Over £12.7M Children's Data Fine

TikTok has failed to overturn a £12.7 million ($17.3 million) fine imposed for misusing children's personal data, after a tribunal Monday rejected the argument that the processing of the data was for creative or artistic purposes.

Editor's Picks

6 Bombshell Moments From Staley's Bid To Clear His Name

Jes Staley has suffered a bruising week as he testified about his relationship with Jeffrey Epstein, culminating in an admission by the former banker that he had sex with a member of the disgraced financier's staff.
5 Questions For Spencer West Partner Karl Foster

The Financial Conduct Authority's approach to enforcement and consumer protection has come up against government economic growth priorities and resistance from the sector to its proposals to "name and shame" companies early on during regulatory probes.
UK Russia Sanctions Face Landmark Test At Supreme Court

The U.K.'s sanctions regime faces a major test on Wednesday as billionaire Eugene Shvidler seeks to have his financial restrictions cast off — the first case to challenge Russian sanctions that has reached the country's highest court.

Expert Analysis

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.
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.
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.
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.
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.
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.
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.
Key Takeaways As EU And UK Impose New Russia Sanctions

The European Union and U.K.’s new sanctions on Russia, designating increasing numbers of non-Russian companies in the defense and shipping sectors, mean that organizations must examine from the outset whether a transaction has any nexus with the EU or the U.K., say lawyers at Sullivan & Cromwell.
8 Ways Law Firms Can Prepare For SRA's AML Offensive

The Solicitors Regulation Authority’s recent plans to intensify anti-money laundering enforcement means firms need to concentrate on strengthening client matter risk assessments, policies and procedures, source of funds checks and firmwide risk assessments, says Harriet Holmes at Thirdfort.
How Unfair Practice Rules Boost Consumer Protections

With the consumer protection aspects of the Digital Markets, Competition and Consumers Act now in force, companies must not only ensure their business is not engaged in prohibited practices, but also consider how consumers make decisions to acquire goods and services, say lawyers at Linklaters.
Fraud Office Guidance Highlights Value Of Self-Reporting

New guidance from the U.K.'s Serious Fraud Office on corporate self-reporting, cooperation and deferred prosecution agreements provides a useful framework for companies navigating criminal investigations and their potential resolutions — and underscores that corporations that self-report are in a better position to obtain DPAs than those that do not, say lawyers at Skadden.
Answering Key Questions About 2 EU Cybersecurity Laws

As companies work to implement two nascent European Union cybersecurity measures, the Digital Operational Resilience Act and the second Network and Information Security Directive, lawyers at MoFo address nine conceptual questions emerging around their interpretation and compliance obligations.
Industry Input Is Key As EU Weighs New Tariffs On US Trade

The European Commission’s ongoing consultation, which seeks feedback on a proposed expansion of products subject to tariffs and restrictions in retaliation to U.S. tariffs, opens an important opportunity for industry stakeholders to highlight why a scope exclusion is warranted, say lawyers at Crowell & Moring.
What End of Payment Systems Regulator Means For Biz

The U.K. government’s plan to abolish the Payment Systems Regulator and absorb its functions into the Financial Conduct Authority should eventually lighten the compliance burden for businesses under the PSR’s remit, which may in turn encourage growth, but the proposed changes will roll out slowly, say lawyers at Farrer & Co.
Compliance Lessons From Art Dealer's Terror Financing Plea

Regulated businesses can learn from the missteps of a recently convicted London art dealer, who failed to disclose sales to a suspected Hezbollah financier, by implementing compliance measures like anti-terrorism financing screenings as robust as their anti-money laundering policies and training staff to spot red flags, say lawyers at White & Case.