On 11 April 2023, the UK Government announced that it has introduced a new “failure to prevent fraud” offence by way of an amendment to its draft Economic Crime and Corporate Transparency Bill (the “Economic Crime Bill”)....more
On 25 November, the High Court of England and Wales ruled in a significant decision that suspected proceeds of crime linked to unnamed individuals must be transferred to the National Crime Agency (NCA). The funds were held by...more
12/7/2022
/ Banks ,
Barclays ,
Criminal Investigations ,
Criminal Proceeds ,
Criminal Prosecution ,
Fraud ,
National Crime Agency (NCA) ,
National Economic Crime Center (NECC) ,
Proceeds of Crime Act 2002 (POCA) ,
UK ,
White Collar Crimes
Summary -
From 15 June 2022, the Office of Financial Sanctions Implementation (“OFSI”) has the power to issue monetary penalties for breaches of financial sanctions on a strict liability basis. The newly-published...more
After three years of uncertainty over the Serious Fraud Office’s (“SFO”) powers to obtain documents located overseas, the UK Supreme Court has clarified the extraterritorial effect of the legislation facilitating that power...more
2/25/2021
/ Anti-Corruption ,
Comity ,
Criminal Investigations ,
Document Productions ,
Enforcement Actions ,
Extraterritoriality Rules ,
Foreign Entities ,
KBR (formerly Kellogg Brown & Root) ,
Serious Fraud Office (SFO) ,
UK ,
White Collar Crimes
The UK Serious Fraud Office (the “SFO”) has reached a £1.2 million civil recovery settlement with Julio Faerman, a Brazilian national linked to the sprawling “Operation Car Wash” investigation involving the Brazilian...more
11/16/2020
/ Bribery ,
Corporate Counsel ,
Corruption ,
Enforcement Actions ,
Freezing Order ,
Kickbacks ,
Oil & Gas ,
Petrobras ,
Serious Fraud Office (SFO) ,
Settlement Agreements ,
UK ,
White Collar Crimes
On July 3, 2020, the Department of Justice (“DOJ”) and Securities and Exchange Commission (“SEC”) updated their 2012 joint guidance on the Foreign Corrupt Practices Act (“FCPA”) in the SEC and DOJ’s FCPA Resource Guide...more
7/15/2020
/ Anti-Bribery ,
Anti-Corruption ,
Bribery ,
Compliance ,
Corruption ,
Department of Justice (DOJ) ,
Disgorgement ,
Enforcement Guidance ,
FCPA Guidance ,
Foreign Corrupt Practices Act (FCPA) ,
Foreign Governments ,
Securities and Exchange Commission (SEC) ,
White Collar Crimes
On 12 March 2020, the UK Gambling Commission announced that it will fine online gambling business Betway Limited (“Betway”) £11.6 million for failures in respect of its anti-money laundering controls and handling of seven of...more