News & Analysis as of

Money Laundering Proceeds of Crime Act 2002 (POCA) National Crime Agency (NCA)

A&O Shearman

Supreme Court clarifies extraterritorial scope of UK money laundering offences

A&O Shearman on

The Supreme Court has ruled that the Proceeds of Crime Act 2002 (POCA) only catches substantive money laundering acts committed in the UK. This simplifies the assessment for companies when considering whether to file a report...more

Ankura

Ethical Supply Chains: Responding to World Uyghur Congress v NCA

Ankura on

In this article, we examine the potential impact on organisations managing global supply chains of the recent Court of Appeal judgement in the case against the National Crime Agency (NCA) brought by the World Uyghur Congress...more

DLA Piper

World Uyghur Congress Case Ruling: A New Challenge for Supply Chains?

DLA Piper on

In a landmark ruling, the Court of Appeal in a case brought by the World Uyghur Congress (WUC) has clarified that the provision of “adequate consideration” at some point in the supply chain does not prevent goods imported...more

Hogan Lovells

Litigation activism confirms the risks of money laundering liability in supply chains

Hogan Lovells on

On 27 June 2024, the Court of Appeal handed down judgment in World Uyghur Congress v National Crime Agency [2024] EWCA Civ 715. The challenge of a 2023 decision by the High Court was brought by World Uyghur Congress ("WUC")...more

Hogan Lovells

No DAML, no trouble: Two new “pay away” exemptions under the UK Proceeds of Crime Act 2002

Hogan Lovells on

The Economic Crime and Corporate Transparency Act 2023 (ECCTA) introduces two new "pay away" exemptions to the principal money laundering offences in sections 327, 328 and 329 of the Proceeds of Crime Act 2002 (POCA)....more

A&O Shearman

Supply chains and UK money laundering considerations

A&O Shearman on

A recent English court ruling has shed light on the approach of UK enforcement authorities to the question of money laundering risks where there is potential forced labour / modern slavery in a supply chain. The ruling will...more

King & Spalding

Anti-Money Laundering Implications for the Art Market in the UK

King & Spalding on

Introduction - The art market is characterised by high-value, portable items that can be bought and exchanged quickly and often confidentially. These features, which make the market inherently vulnerable to many types of...more

White & Case LLP

SAR Reform: Law Commission publishes report

White & Case LLP on

The Law Commission has published its much anticipated report on reform of the UK's anti-money laundering and terrorism financing regime, and in particular of the system of suspicious activity reports ("SARs"). The proposed...more

A&O Shearman

Barrister wins right to see his bank’s suspicious activity reports

A&O Shearman on

Lonsdale v National Westminster Bank [2018] EWHC 1843 (QB) (18 July 2018) - A bank was ordered to disclose, to a customer, suspicious activity reports (SARs) that the bank had sent to the National Crime Agency (NCA) at the...more

WilmerHale

The NCA Flexes Its Muscles With Account Freezing Orders

WilmerHale on

On 7 February 2019, the UK National Crime Agency (“NCA”) announced that it had, for the first time, successfully used its powers of account freezing orders (“AFOs”) to forfeit over £400,000 from three UK bank accounts...more

WilmerHale

Unexplained Wealth Orders: More Bark Than Bite (So Far)

WilmerHale on

The UK National Crime Agency (“NCA”) has successfully resisted a challenge to the issue of its first Unexplained Wealth Orders (“UWOs”). The victory comes shortly after the agency announced its intention to expand the use of...more

Hogan Lovells

All change for UK money laundering regulation? - Impact for the private equity industry

Hogan Lovells on

A number of very significant changes are being made to the UK anti-money laundering regime. Of particular interest to the private equity industry will be the proposed new criminal offence of failure to prevent the...more

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