On 11 April 2023, the UK Government announced that it has introduced a new “failure to prevent fraud” offence by way of an amendment to its draft Economic Crime and Corporate Transparency Bill (the “Economic Crime Bill”)....more
On 25 November, the High Court of England and Wales ruled in a significant decision that suspected proceeds of crime linked to unnamed individuals must be transferred to the National Crime Agency (NCA). The funds were held by...more
12/7/2022
/ Banks ,
Barclays ,
Criminal Investigations ,
Criminal Proceeds ,
Criminal Prosecution ,
Fraud ,
National Crime Agency (NCA) ,
National Economic Crime Center (NECC) ,
Proceeds of Crime Act 2002 (POCA) ,
UK ,
White Collar Crimes
Summary -
From 15 June 2022, the Office of Financial Sanctions Implementation (“OFSI”) has the power to issue monetary penalties for breaches of financial sanctions on a strict liability basis. The newly-published...more
Summary -
In a recent judgment (Bloomberg LP v ZXC [2022] UKSC 5), the UK Supreme Court confirmed that suspects subject to a criminal investigation are entitled, as a general rule, to a reasonable expectation of privacy...more
On May 25, 2021, the U.S. Department of Justice (“DOJ”) unsealed an indictment charging two Austrian citizens, Peter Weinzierl (“Weinzierl”) and Alexander Waldstein (“Waldstein”), for their roles in a scheme to launder...more
6/11/2021
/ Brazil ,
Bribery ,
BSA/AML ,
Corruption ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Foreign Corrupt Practices Act (FCPA) ,
Indictments ,
Money Laundering ,
White Collar Crimes
Following months of uncertainty, on Christmas Eve a Brexit agreement was finally reached between the United Kingdom (“UK”) and the European Union (“EU”). The European Union (Future Relationship) Act 2020 (the “Act”) received...more
After three years of uncertainty over the Serious Fraud Office’s (“SFO”) powers to obtain documents located overseas, the UK Supreme Court has clarified the extraterritorial effect of the legislation facilitating that power...more
2/25/2021
/ Anti-Corruption ,
Comity ,
Criminal Investigations ,
Document Productions ,
Enforcement Actions ,
Extraterritoriality Rules ,
Foreign Entities ,
KBR (formerly Kellogg Brown & Root) ,
Serious Fraud Office (SFO) ,
UK ,
White Collar Crimes
On July 21, 2020, the Intelligence and Security Committee of Parliament published the Russia Report (the Report). The Report found that the UK was one of Russia’s “top Western intelligence targets” and that the UK government...more
On July 3, 2020, the Department of Justice (“DOJ”) and Securities and Exchange Commission (“SEC”) updated their 2012 joint guidance on the Foreign Corrupt Practices Act (“FCPA”) in the SEC and DOJ’s FCPA Resource Guide...more
7/15/2020
/ Anti-Bribery ,
Anti-Corruption ,
Bribery ,
Compliance ,
Corruption ,
Department of Justice (DOJ) ,
Disgorgement ,
Enforcement Guidance ,
FCPA Guidance ,
Foreign Corrupt Practices Act (FCPA) ,
Foreign Governments ,
Securities and Exchange Commission (SEC) ,
White Collar Crimes
On 12 March 2020, the UK Gambling Commission announced that it will fine online gambling business Betway Limited (“Betway”) £11.6 million for failures in respect of its anti-money laundering controls and handling of seven of...more