News & Analysis as of

Money Laundering Fraud United Kingdom

Ropes & Gray LLP

UK and EU Money Laundering Risk Assessments 2025: Key Findings for Asset Managers

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In July 2025 HM Treasury and the Home Office issued the UK National Risk Assessment of Money Laundering and Terrorist Financing 2025 ('NRA 2025'), while the European Banking Authority (EBA) published its fifth Opinion on...more

A&O Shearman

UK NCA and FCA agree priorities to combat economic crime

A&O Shearman on

The National Crime Agency (NCA) and the UK Financial Conduct Authority (FCA) have jointly published a set of nine system priorities to combat economic crime in the UK, in line with the UK's second Economic Crime Plan and the...more

Skadden, Arps, Slate, Meagher & Flom LLP

Khouri: Is UK-US Extradition on Its Way to Becoming an Ex-Tradition?

On 12 February 2025, the UK Supreme Court handed down its decision in El-Khouri v Government of the United States of America (El-Khouri), declining to extradite Joseph El-Khouri to the US. The ruling marks a pivotal moment in...more

Morrison & Foerster LLP

Top 10 International Anti-Corruption Developments for November 2024

Morrison & Foerster LLP on

Designed for busy in-house counsel, compliance professionals, and anti-corruption lawyers, this newsletter summarizes some of the most important international anti-corruption law and enforcement developments from the past...more

Guidepost Solutions LLC

Why Corporate Accountability for Criminal Behavior Makes Due Diligence More Crucial Than Ever

The U.K. Economic Crime and Corporate Transparency Act 2023 (“the Act”), passed in October 2023, strengthens the U.K. Government’s efforts to compel companies to weed out fraud, corruption, and other criminal activity. The...more

J.S. Held

AI in Fraud Investigations, Trends in International Financial Crimes & Fraud in ESG Matters: Perspectives From Spain

J.S. Held on

Forensic services in Spain are robust, but still have room for growth compared to other markets, especially with respect to the market in the United Kingdom. Growth in the legal marketplace will come through the proliferation...more

WilmerHale

UK Criminal Enforcement Update - Spring 2024

WilmerHale on

Recent weeks have seen several notable developments in the UK criminal enforcement landscape...more

WilmerHale

FCA - Financial Crime Focus Areas for 2024

WilmerHale on

“Stopping financial crime requires a collective effort...we will be more proactive in our supervision. Where we detect harm or UK-wide financial crime vulnerabilities, we will continue to share intelligence with our partners...more

McGuireWoods LLP

The U.K. Economic Crime and Corporate Transparency Act’s New Responsibilities for Companies

McGuireWoods LLP on

On 26 October 2023, the Economic Crime and Corporate Transparency Act 2023 became law. The new U.K. law is designed to fight corruption, money laundering and fraud, has major implications for businesses and will engender...more

A&O Shearman

Top challenges for white collar crime and investigations lawyers in 2024

A&O Shearman on

We asked our global white collar crime team for their views on the key challenges in 2024 for in‑house investigations teams and white collar crime lawyers, and how to manage the associated risks. Here is what they said. ...more

Ankura

The Impact of UK Companies House Reforms On Cross-Border Asset Tracing

Ankura on

On 26 October 2023, the UK Parliament enacted the Economic Crime and Corporate Transparency Act (the Act). The Act marks a decisive shift in the statuary framework for addressing financial crime in the UK. The Act sets a...more

Ankura

Proceeds of Crime and the Cautionary Tale of Convicted Fraudster Achilleas Kallakis

Ankura on

Recent SFO Confiscations Linked To Decade-Old Crime - On 24 November, the Serious Fraud Office (SFO) successfully confiscated £250,000 from Achilleas Kallakis, which was held as a debenture by The Queen’s Club, home of the...more

K&L Gates LLP

Why Corporates Are Now More Likely to Face Criminal Prosecution for the Actions of Their Employees

K&L Gates LLP on

Significant Expansion to Corporate Criminal Liability Becomes Law in the United Kingdom - On 26 October 2023, the Economic Crime and Corporate Transparency Act (the Act) became law. Under the Act, corporations will become...more

The Volkov Law Group

UK Parliament Enacts Sweeping New Fraud Legislation Aimed at AML/TF Activities

The Volkov Law Group on

On October 26, 2023, the Parliament of the United Kingdom of Great Britain and Northern Ireland enacted—after obtaining Royal Assent—a sweeping set of statutory requirements aimed squarely at combating fraud and money...more

WilmerHale

Radical reforms of UK corporate criminal liability receive Royal Assent

WilmerHale on

After a laborious passage through the United Kingdom Parliament, the Economic Crime and Corporate Transparency Act (the Act) received Royal Assent on 26 October 2023. The Director of the UK Serious Fraud Office (SFO) hailed...more

StoneTurn

Can Understanding Insider Risk Help to Prevent Fraud?

StoneTurn on

The UK government is moving towards introducing a new corporate criminal offence: Failure to Prevent Fraud and Money Laundering. The draft offence, contained in the Economic Crime and Corporate Transparency Bill, would hold...more

White & Case LLP

The Upcoming Expansion of Corporate Criminal Liability in the UK

White & Case LLP on

After several years of discussion and consultation, the UK Government now appears to be close to reforming the law on corporate criminal liability via the Economic Crime and Corporate Transparency Bill. These changes, if...more

Hogan Lovells

UK government proposes long-awaited reform to the identification doctrine for economic crime offences

Hogan Lovells on

On 16 June 2023, the Government announced its proposed reforms to the “identification doctrine” for economic crime offences to be introduced in the Economic Crime and Corporate Transparency Bill. The reform will apply only to...more

TransPerfect Legal

The Economic Crime and Corporate Transparency Bill

TransPerfect Legal on

The battle against corporate crime intensifies as the UK government seeks to weaponise its incoming legislation. The "failure to prevent fraud" offence will require every large business to have ‘reasonable procedures in place...more

Cooley LLP

UK Government Gets Tough on Sanctions Evasion, Fraud and Money Laundering in Newly Published Economic Crime Plan

Cooley LLP on

On 30 March 2023, HM Treasury and the Home Office published the Economic Crime Plan 2 for 2023 to 2026. The three-year plan builds on the first Economic Crime Plan published in 2019 and commits the UK government to:...more

Goodwin

The FCA’s 2023/24 Priorities for UK Payments: Firms and Investors, Take Note

Goodwin on

On March 16, 2003, the UK Financial Conduct Authority (FCA) published its letter Portfolio Letter: FCA priorities for payments firms to the CEOs of UK Payment Institutions (PIs), Electronic Money Institutions (EMIs), and...more

Proskauer Rose LLP

UK Corporate Transparency - Sweeping Changes on the Horizon

Proskauer Rose LLP on

In February 2022, the UK Government published the Corporate Transparency and Register Reform White Paper (the “White Paper”), which set out its plans to reform Companies House and increase the transparency of UK corporate...more

WilmerHale

Sanctions, Fraud is Coming to Town: 2022 in Review

WilmerHale on

In 2022, the UK was forced to reckon with the charge of being soft on economic crime and being the destination of choice for kleptocrats seeking to launder their ill-gotten funds. No longer able to turn a blind eye to these...more

Goodwin

UK Limited Partnership Legislative Reform Package Introduced in the Economic Crime and Corporate Transparency Bill

Goodwin on

​​​​​​​The Economic Crime and Corporate Transparency Bill (the Bill) includes a package of proposed legislative amendments to U.K. limited partnership (UKLP) law, substantially to tighten registration requirements and improve...more

BCLP

Banking Bites - June 2022

BCLP on

New High Court case considers nature and scope of the Quincecare duty - In June, the Court of Appeal expanded the scope of a bank’s duty of care to protect its customers from fraud to encompass instructions by those other...more

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