News & Analysis as of

United Kingdom Fraud

Hogan Lovells

UK Economic Crime Progress Report: A mixed picture

Hogan Lovells on

When the UK government launched Economic Crime Plan 2 (ECP2) in March 2023, its ambitions were clear. Building on the first Plan, the 2023-26 strategy set out three overarching goals: to cut fraud; reduce money laundering and...more

ArentFox Schiff

The End of LIBOR: Hotel California Edition [Part V]

ArentFox Schiff on

In a recent alert, we highlighted the United Kingdom (UK) benchmark manipulation cases of Tom Hayes and Carlo Palombo from 2015 and 2019, respectively. Hayes was the first banker to be jailed in the LIBOR scandal....more

Jenner & Block

Client Alert: UK Supreme Court Decision in R v Hayes/Palombo

Jenner & Block on

Last week the United Kingdom’s Serious Fraud Office (SFO) announced that, as a result of the UK Supreme Court's decision in R v Hayes/Palombo, a number of convictions arising from allegations of manipulation of well-known key...more

Mayer Brown

Eye on Economic Crime: New Strict Liability Corporate Criminal Offence of Failure to Prevent Fraud Comes Into Effect

Mayer Brown on

1 September 2025 marks the day that the new strict liability corporate criminal offence of failure to prevent fraud comes into effect. From today onwards, corporate entities can be held criminally liable for failing to...more

A&O Shearman

Understanding Dishonesty at the Dawn of the New UK Failure to Prevent Fraud Offence

A&O Shearman on

Anti-fraud measures are assuming a new level of significance for many large businesses with a UK nexus. The new failure to prevent fraud offence comes into force in the UK today. It means that a large business can be...more

Mayer Brown

Eye on Economic Crime: HMRC Brings Forward First Corporate Prosecution Under Failure to Prevent Tax Evasion Offence

Mayer Brown on

On 11 August 2025, HM Revenue & Customs ("HMRC") initiated its first corporate prosecution under the failure to prevent the facilitation of tax evasion offence, which was introduced by the Criminal Finances Act 2017.  Bennett...more

Ropes & Gray LLP

UK Authorities Revamp Joint Corporate Prosecution Guidance

Ropes & Gray LLP on

On 18 August 2025, the UK’s Crown Prosecution Service (CPS) and the Serious Fraud Office (SFO) announced the updated version of the joint guidance in relation to the prosecution of corporate entities (the “Guidance”). The...more

Hogan Lovells

HL UK Pensions Law Digest 26 August 2025

Hogan Lovells on

A bite-sized summary of recent UK pension news - Welcome to our latest update, in which we cover: Pensions Regulator: sanctions for making illegal loans - TPR’s latest Regulatory intervention report outlines...more

WilmerHale

UK Failure to Prevent Fraud Offence to Come into Force - Is Your Organisation Prepared?

WilmerHale on

The new strict liability corporate criminal offence of Failure to Prevent Fraud (FTPF) comes into effect in England and Wales on 1 September 2025. ...more

Ankura

Navigating Fraud in Insolvent Companies: Lessons for the UK

Ankura on

In an ever-evolving UK economy, insolvency is a challenging, yet sometimes inevitable, aspect of business operations. When insolvency is caused by fraud, the repercussions can be severe, impacting employees, creditors, and...more

Thomas Fox - Compliance Evangelist

Data Driven Compliance: The Failure to Prevent Fraud Offense: Insights for US General Counsels with Mike DeBernardis

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

Ankura

Supercharging Mass Claims: Leveraging AI and LLMs in UK Group Litigation

Ankura on

As the UK's collective redress regime continues to evolve, law firms face novel challenges at every turn. Building and managing mass claims in this environment demands not just legal acumen, but also exceptional efficiency...more

Hogan Lovells

CPS and SFO publish joint corporate prosecutions guidance – what it means for UK corporates

Hogan Lovells on

The Crown Prosecution Service (CPS) and Serious Fraud Office (SFO) have overhauled their Corporate Prosecutions guidance – clarifying how prosecutors will handle charges, forum and case strategy going forward. The previous...more

A&O Shearman

UK FOS Publishes Q1 2025/26 Complaints Data Showing Decline in Case Levels

A&O Shearman on

The UK Financial Ombudsman Service (FOS) published its Q1 2025/26 complaints data alongside a press release, revealing a notable decline in case volumes to 68,000, down from 74,600 in the same period last year. Complaints...more

Ropes & Gray LLP

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

Ropes & Gray LLP on

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 government announces trade deal with India

A&O Shearman on

The UK government has announced the signing of a Free Trade Agreement (FTA) with India, agreed in May this year. According to the government’s press release, for financial and professional services the deal provides locked-in...more

Thomas Fox - Compliance Evangelist

Data Driven Compliance: Understanding the ECCTA and Its Impact with Jonathan Armstrong

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

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

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

Everything Compliance: Episode 158, The No to Corruption in Ukraine Edition

Welcome to this edition of award-winning Everything Compliance. In this episode, we have the quartet of Matt Kelly, Jonathan Marks, and Jonathan Armstrong, with Tom Fox, the Compliance Evangelist, sitting in as both host and...more

Hogan Lovells

The Payments Newsletter including Digital Assets & Blockchain, July 2025

Hogan Lovells on

Key developments of interest over the last month include: the UK government's communications in connection with the Chancellor's annual Mansion House speech, and the launch of its Financial Services Growth and Competitiveness...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

Thomas Fox - Compliance Evangelist

Everything Compliance: Episode 157, The Q2 2025 Great Women in Compliance Edition

A few months ago, we had a Special Edition of Everything Compliance with the two primary hosts of the Great Women in Compliance, Lisa Fine and Hemma Lomax, together with our female panelists from Everything Compliance, Karen...more

WilmerHale

UK Independent Review of the Criminal Courts - Part 1

WilmerHale on

On 9 July 2025, part 1 of the Independent Review of the Criminal Courts, chaired by Sir Brian Leveson was published (the Report). Leveson was tasked by the UK Ministry of Justice with conducting a wide-ranging review of 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

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