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United Kingdom Internal Controls Fraud

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

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

Latham & Watkins LLP

Recent Developments for UK PLCs - May Edition

Latham & Watkins LLP on

This edition covers the FCA’s priorities for the next 12 months, the ICGN statement on post-pandemic AGM practices, Takeover Code changes affecting competitive bids, and a proposed new corporate “failure to prevent fraud”...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

Latham & Watkins LLP

For Fear of Learning an Inconvenient Truth: Third-Party Liability in Fraudulent Trading

Latham & Watkins LLP on

Parties within a chain of transactions may face liability for dishonesty and assistance, even if they do not have actual knowledge of fraud. The recent judgment in Bilta (UK) Limited (in liquidation) & ors v. NatWest...more

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