Financial Crimes, Corporate Crimes, Financial Conduct Authority (FCA)

Preparing Organisations for the New UK Failure to Prevent Fraud Offence

Akin Gump Strauss Hauer & Feld LLP on 2/17/2025

Fraud is the most common offence in the UK, amounting to 41% of all crime. On 26 October 2023, the UK’s long-awaited Economic Crime and Corporate Transparency Act 20232 (the Act) received Royal Assent, setting out...more

What FCA's 2024 Changes Suggest For Enforcement In 2025

WilmerHale on 12/19/2024

"The FCA's approach to enforcement is changing." So stated Therese Chambers, joint executive director of enforcement and market oversight at the Financial Conduct Authority, speaking in September to the Association for...more

UK Government Publishes Guidance on New Failure to Prevent Fraud Offence

WilmerHale on 11/19/2024

On 6 November 2024, the UK Government published the much-anticipated guidance on the new corporate offence of failure to prevent fraud (the “Guidance”). The failure to prevent fraud offence forms part of a huge shift in the...more

How Will Changes to Corporate Criminal Liability Impact the Banking Sector

BCLP on 11/6/2023

The Economic Crime and Corporate Transparency Act was passed by Parliament on 26 October. The Act makes significant changes to the law of corporate criminal liability....more

UK Economic Crime Bill to Reform Companies House

Latham & Watkins LLP on 9/28/2022

The UK government is taking further measures to tackle economic crime in the UK, reforming its corporate register, and giving extra powers to the Serious Fraud Office. The UK has published the new Economic Crime and...more

No Place Like Home: Heightened risks for companies due to Covid-19 and remote working arrangements

BCLP on 4/22/2021

As the COVID-19 pandemic evolves so, too, does the threat of economic crime. Recent reports into fraud since the start of the pandemic highlight the extent of this threat but also confirm that the banking and finance industry...more