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
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
The UK Serious Fraud Office (the “SFO”) has reached a £1.2 million civil recovery settlement with Julio Faerman, a Brazilian national linked to the sprawling “Operation Car Wash” investigation involving the Brazilian...more
11/16/2020
/ Bribery ,
Corporate Counsel ,
Corruption ,
Enforcement Actions ,
Freezing Order ,
Kickbacks ,
Oil & Gas ,
Petrobras ,
Serious Fraud Office (SFO) ,
Settlement Agreements ,
UK ,
White Collar Crimes
Foreign investment has been ripe for legislative change in the United Kingdom. The latest development came on 11 November 2020, as Prime Minister Boris Johnson announced the National Security and Investment Bill 2020 (the...more
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