Popular, Financial Crimes, UK

UK: “Duty of retrieval” rejected: why banks do not owe a duty to recover funds lost through APP fraud

Hogan Lovells on 4/18/2025

Banking fraud of all types is an ever increasing problem in today’s society, and takes a multitude of forms. On a basic level, frauds can be divided into two types. Unauthorised fraud, where the victim does not provide...more

FSB letter to G20 finance ministers and central bank governors ahead of meeting

A&O Shearman on 3/7/2025

The Financial Action Task Force (FATF) has published a second consultation on payment transparency, and in particular proposed revisions to recommendation 16 (R.16). The revisions adapt the FATF Standards to the changes in...more

AI and Machine Learning in Financial Crime Compliance

BCLP on 1/31/2025

As financial crime risks evolve, including those risks posed by the use of AI and other emerging technologies, so too must firms’ financial crime compliance response. It is unsurprising, therefore, that AI forms part of both...more

Significant UK Court of Appeal Decision Confirms the Applicability of the UK’s Proceeds of Crime Legislation to Illegality in...

Skadden, Arps, Slate, Meagher & Flom LLP on 7/8/2024

The UK Court of Appeal recently held that the National Crime Agency’s decision not to investigate whether cotton goods manufactured in China and imported to the UK were the product of forced labour was unlawful — a decision...more

Top challenges for white collar crime and investigations lawyers in 2024

A&O Shearman on 1/26/2024

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

New UK 'failure to prevent' fraud corporate criminal offence published - Update

A&O Shearman on 10/26/2023

The Economic Crime and Corporate Transparency Act 2023 was granted Royal Assent on 26 October 2023. It contains a new ‘failure to prevent fraud’ corporate criminal offence which will render large companies liable for fraud...more

Failing to Prepare is Preparing to Fail: UK Government Proposes ‘Failure to Prevent Fraud’ Corporate Criminal Offence

Cooley LLP on 4/25/2023

Economic crime has risen to such a level that UK Finance, a trade association for the UK banking and financial services sector, considers financial fraud to be a “national security threat”. Over £750,000,000 was stolen from...more

Daily Financial Regulation Update -- Friday, June 24, 2022

Paul Hastings LLP on 6/27/2022

Major Developments- Federal Reserve Board- Federal Reserve Board releases results of annual bank stress test- June 23, 2022- The Federal Reserve Board released the results of its annual bank stress test....more

Sanctions Against Russia: Understanding the Evolving Picture and How to Respond

K2 Integrity on 5/9/2022

...Since the start of the invasion of Ukraine by Russian forces on February 24, the United States (U.S.), United Kingdom (UK), and the European Union (EU) have led a global sanctions campaign against Russia that has been...more

Top 10 International Anti-Corruption Developments for October 2021

Morrison & Foerster LLP on 11/19/2021

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 case developments from the past month,...more

Key Regulatory Topics: weekly Update 15 October to 21 October 2021

A&O Shearman on 10/25/2021

Of particular note this week, HM Treasury published a policy paper on ‘Greening Finance: A Roadmap to Sustainable Investing’ which sets out the UK government’s ambition to support the financial services sector to align with...more

UK Quarterly Review: Business Crime, Investigations, And Regulatory Enforcement - June 2021

Morrison & Foerster LLP on 6/28/2021

In our Quarterly Review, we bring you important UK developments relating to business crime, investigations, and regulatory enforcement from the last three months. With this month marking half a year since the UK left the EU,...more

Financial institutions general regulatory news, September 2020

Hogan Lovells on 9/8/2020

SMCR extension: SI extending implementation date made - The Bank of England and Financial Services Act 2016 (Commencement No. 6 and Transitional Provisions) (Amendment) Regulations 2020 (SI 2020/929) have been made....more

FCA sets out approach to AML crypto supervision

Hogan Lovells on 3/10/2020

A Director of Enforcement at the Financial Conduct Authority (FCA) has set out some of the key challenges the regulator expects in its new role as AML/CTF (anti-money laundering/counter terrorist financing) supervisor for...more

Key Regulatory Topics: Weekly Update 22 February to 28 February 2019

A&O Shearman on 3/5/2019

BREXIT- Financial Services Contracts (Transitional and Saving Provision) (EU Exit) Regulations 2019 made On 28 February, the Financial Services Contracts (Transitional and Saving Provision) (EU Exit) Regulations 2019 were...more

Key Regulatory Topics: Weekly Update 10 August 2018 – 16 August 2018

A&O Shearman on 8/30/2018

BREXIT - Please see the ‘Other Developments’ section for an update on the minutes of the meeting between the Governor of the BoE and the Chancellor of the Exchequer on the June Financial Stability Report....more

Key Regulatory Topics: Weekly Update, 3-9 August 2018

A&O Shearman on 8/20/2018

BREXIT - Draft Short Selling (Amendment) (EU Exit) Regulations 2018 - On 9 August, HMT published a draft version of the Short Selling (Amendment) (EU Exit) Regulations 2018 and an explanatory information document....more

Allen & Overy's weekly update on Key Regulatory Topics 13 July - 19 July 2018

A&O Shearman on 7/24/2018

BREXIT - FCA speech and new webpage on approach to Brexit - On 19 July, the FCA published a speech given by Nausicaa Delfas, FCA Executive Director of International, on the FCA's approach to Brexit. ...more

Allen & Overy's weekly update on Key Regulatory Topics - 8 June 2018 – 14 June 2018

A&O Shearman on 6/22/2018

BREXIT - Please see the Payment Systems and Payment Services section for an update on the HoC’s European Scrutiny Committee thirtieth report of the 2017-19 parliamentary session....more

Allen & Overy's weekly update on Key Regulatory Topics - 4 May 2018 – 10 May 2018

A&O Shearman on 5/16/2018

BREXIT - UK Government response to HoL EU Committee report on Brexit and future of financial regulation and supervision - On 9 May, the UK Government published its response to the HoL EU Sub-Committee on Financial...more

Using artificial intelligence to fight financial crime – a legal risk perspective

A&O Shearman on 2/2/2018

The Head of the Financial Crime Department at the UK Financial Conduct Authority (the FCA), Rob Gruppetta, gave a speech on "Using artificial intelligence to keep criminal funds out of the financial system" in December 2017....more

Today's Popular Updates › Financial Crimes › United Kingdom

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