News & Analysis as of

Fraud United Kingdom Regulatory Requirements

Fraud is the making of false representations or engaging in deceptive behavior in order to unlawfully secure financial or personal gain. 
Thomas Fox - Compliance Evangelist

Data Driven Compliance: Understanding the ECCTA and Its Impact on Fraud Prevention with Vince Walden

Welcome to Season 2 of the award-winning Data Driven Compliance. In this new season, we will look at the new Failure to Prevent Fraud offense. Join host Tom Fox as we explore this new law and how to comply with it through the...more

Thomas Fox - Compliance Evangelist

Data Driven Compliance: Understanding the UK’s New Failure to Prevent Fraud Offense with Sam Tate

Welcome to Season 2 of the award-winning Data Driven Compliance. In this new season, we will look at the new Failure to Prevent Fraud offense. Join host Tom Fox as we explore this new law and how to comply with it through the...more

Pillsbury Winthrop Shaw Pittman LLP

New UK Corporate Offense of “Failure to Prevent Fraud” Under Economic Crime and Corporate Transparency Act 2023: What Companies...

On September 1, the new Failure to Prevent Fraud offense will come into force, which has extraterritorial effect and significantly expands corporate liability for nine types of fraud committed by associated persons. The UK...more

A&O Shearman

UK APPG publishes report assessing the APP fraud mandatory reimbursement requirement

A&O Shearman on

The UK All-Party Parliamentary Group (APPG) on Fair Banking has published its latest report, "No Half Measures – A Blueprint to Beat APP Fraud", alongside a press release. The report assesses the UK's response to authorised...more

Goodwin

The UK’s Failure to Prevent Fraud Offence: Private Fund Managers, Portfolio Companies, and Placement Agents

Goodwin on

In a previous alert titled “UK Limited Partnership Reform Becomes Law: A Practical Guide of How Best to Get Ready to Comply,” we discussed the changes to limited partnership law ushered in by the Economic Crime and Corporate...more

Ropes & Gray LLP

The FCA's 2024/2025 Annual Report on whistleblowing is out - here's what you need to know

Ropes & Gray LLP on

On Tuesday (24 June 2025) the FCA published its Prescribed Person’s Annual Report on whistleblowing (“24/25 Report”), which covers reports received and acted on with during the period 1 April 2024 – 31 March 2025 (the “24/25...more

BCLP

Turf Social: A Developing Regulatory Relationship

BCLP on

On 10 June Nikhil Rathi, the FCA’s CEO, appeared before the Treasury Select Committee. The opening volley of questions was focused on the risks presented by illegal financial promotions on social media and, relatedly, the...more

A&O Shearman

PSR consolidated policy statement on APP scams reimbursement requirement

A&O Shearman on

The UK Payments Systems Regulator (PSR) has published a consolidated policy statement (PS25/5) concerning the authorised push payment (APP) fraud reimbursement requirement within the Faster Payments system, which came into...more

A&O Shearman

IOSCO publishes final reports on finfluencers, online imitative trading practices and digital engagement practices

A&O Shearman on

The International Organization of Securities Commissions (IOSCO) has published final reports on finfluencers, online imitative trading practices and digital engagement practices, accompanied by a press release. These reports...more

Hogan Lovells

HL UK Pensions Law Digest 27 May 2025

Hogan Lovells on

A bite-sized summary of recent UK pension news Welcome to our latest update, in which we cover: Protecting member identities during high risk events Guidance from the Pensions Administration Standards Association (PASA) on...more

Thomas Fox - Compliance Evangelist

10 For 10: Top Compliance Stories For the Week Ending, May 3, 2025

Welcome to 10 For 10, the podcast that brings you the week’s Top 10 compliance stories in one podcast each week. Tom Fox, the Voice of Compliance, brings you the compliance professional and the compliance stories you need to...more

Ropes & Gray LLP

An Easier Route To Avoiding Corporate Prosecution? The UK’s SFO Announces A Shift In Strategy And New Corporate Cooperation...

Ropes & Gray LLP on

In what was a busy week for the Serious Fraud Office (SFO), much of the attention has focused on the launch of its new streamlined ‘External Guidance on Corporate Co-Operation and Enforcement in relation to Corporate Criminal...more

McDermott Will & Schulte

The UK Economic Crime & Corporate Transparency Act 2023: What companies need to know and what they can do to prepare

The UK Economic Crime & Corporate Transparency Act 2023 sets out two major reforms making it much easier for UK authorities to prosecute corporate wrongdoing: - it substantially increases the circumstances in which a company...more

A&O Shearman

UK FOS Plans and Budget published for 2025/2026

A&O Shearman on

The UK Financial Ombudsman Service (FOS) has published its plans and budget for 2025/2026, together with an accompanying press release. The FOS notes that there has been more uncertainty than usual over the last year, and...more

A&O Shearman

Economic Crime and Corporate Transparency Act 2023: where are we and what’s next?

A&O Shearman on

The Economic Crime and Corporate Transparency Act 2023 (ECCTA) has made, and will continue to make, significant amendments to company law in the UK. Since the first raft of company law changes implementing parts of ECCTA...more

A&O Shearman

Financial Crime: The FCA’s Strategy for 2025 – 2030

A&O Shearman on

In its strategy for the next five years, financial crime remains a priority for the UK Financial Conduct Authority (FCA). While the FCA acknowledges the significant efforts firms invest in their anti-financial crime systems,...more

A&O Shearman

The Economic Crime and Corporate Transparency Act 2023 (Commencement No.4) Regulations

A&O Shearman on

The fourth commencement regulations made under the Economic Crime and Corporate Transparency Act 2023 (ECCTA) have been published. Regulation 2 brought into force on 18 March certain provisions in Parts 1 and 2 of the Act....more

A&O Shearman

PSR publishes policy statement on 2024 APP scams data

A&O Shearman on

The UK Payment Systems Regulator (PSR) has published a policy statement outlining its approach to publishing authorised push payment (APP) scams data for 2024. In 2025, the PSR will take a different approach to publishing...more

Hogan Lovells

UK pensions legal landscape: What’s new in February / March 2025

Hogan Lovells on

In this news update, we highlight legal developments in UK pensions over the past five weeks. This update covers: News from the Pensions Regulator (TPR) Data strategy Preventing pension scams Priorities for 2025 DC and...more

K&L Gates LLP

Combatting Scams in Australia and the United Kingdom

K&L Gates LLP on

In response to the growing threat of financial scams, the Australian Government has passed the Scams Prevention Framework Bill 2025. The Scams Prevention Framework (SPF) imposes a range of obligations on entities operating...more

Akin Gump Strauss Hauer & Feld LLP

Preparing Organisations for the New UK Failure to Prevent Fraud Offence

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

A&O Shearman

UK Financial Conduct Authority Dear CEO letter on priorities for payments portfolio firms

A&O Shearman on

The Financial Conduct Authority has published a Dear CEO letter to firms in the payments portfolio sector (including payment institutions, e-money institutions and registered account information service providers). Although...more

Hogan Lovells

UK Public Authorities (Fraud, Error and Recovery) Bill: Banks and EMIs face detailed new information and account direct deduction...

Hogan Lovells on

Banks and EMIs will need to consider the impacts of proposed new requirements to comply with information notices and account direct deduction orders on their policies, procedures and controls. For information notices, this...more

BCLP

Fighting Fraud: Where Does the Responsibility to Protect Consumers Lie?

BCLP on

Fraud now accounts for 40% of crime in England and Wales. However, in this era of strained public finances, and the often international dimension to consumer fraud, the Government’s approach has often been to look to the...more

DLA Piper

CMA Unveils AI-Powered Tool to Combat Bid-Rigging in Public Procurement

DLA Piper on

On 5 January 2025, the Competition and Markets Authority (CMA) announced the trial of an artificial intelligence (AI) tool designed to detect collusion in public procurement by scanning and analysing bidding data at scale....more

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