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White Collar Crimes United Kingdom Financial Crimes

Skadden, Arps, Slate, Meagher & Flom LLP

New ‘Failure To Prevent Fraud’ Offence Expected To Come Into Force in the UK Shortly

The UK government introduced a major overhaul of its framework for addressing financial crime — and brought into force numerous significant changes — when the Economic Crime and Corporate Transparency Act 2023 (the Act)...more

K&L Gates LLP

How the Serious Fraud Office's Ambitious Five-Year Strategy Will Impact Businesses

K&L Gates LLP on

The Serious Fraud Office (SFO) recently published its new five-year strategy for 2024-2029 (the Strategy), setting out its ambitious aspirations to become a “pre-eminent specialist, innovative and collaborative agency which...more

BCLP

Confronting and Mitigating Against Corruption

BCLP on

Construction is a $1.7 trillion industry worldwide, contributing between 5 and 7 percent of GDP in most countries. However, it is also an industry that is highly vulnerable to corruption due to its inherent characteristics....more

Skadden, Arps, Slate, Meagher & Flom LLP

UK White Collar Crime Outlook

Below is a summary of recent developments and enforcement trends in the UK white collar crime space in the first quarter of 2024. I. New Legislation - The Economic Crime and Corporate Transparency Act 2023 (ECCTA)...more

WilmerHale

Will Companies House powers clean up the register?

WilmerHale on

Companies House has been granted new powers to crack down on fraud, but whether it has the resources to take advantage of these and properly clean up the register of companies is questionable. Originally published by...more

A&O Shearman

ECCTA Moves Forward With Second Set Of Reforms

A&O Shearman on

On 4 March 2024, the second set of reforms to UK company law brought about by the Economic Crime and Corporate Transparency Act 2023 ("ECCTA") came into force. These introduce a major expansion of the powers of the Registrar...more

Morrison & Foerster LLP

The UK’s Serious Fraud Office Under Nick Ephgrave – One to Watch at Home and Away

On 13 February 2024, Nick Ephgrave gave his inaugural public speech as the new Director of the UK’s Serious Fraud Office (SFO). With a background in law enforcement, including as assistant commissioner of the Metropolitan...more

Skadden, Arps, Slate, Meagher & Flom LLP

Economic Crime and Corporate Transparency Act 2023 – Key Developments

On 26 October 2023, the Economic Crime and Corporate Transparency Act 2023 (the Act) became law in the UK. The Act represents a major overhaul of the UK government’s framework for tackling financial crime and has brought into...more

A&O Shearman

Top challenges for white collar crime and investigations lawyers in 2024

A&O Shearman on

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

Katten Muchin Rosenman LLP

Fraud, Reform and the Registrar: Economic Crime and Corporate Transparency Act 2023

A year and a half after the Economic Crime (Transparency and Enforcement) Act 2022 received Royal Assent, the Economic Crime and Corporate Transparency Act 2023 (Act) came into law on 26 October 2023. Although the Act does...more

White & Case LLP

Thoughts on the new Economic Crime and Corporate Transparency Act - A New Era for Corporate Criminal Liability in the UK

White & Case LLP on

The long-awaited Economic Crime and Corporate Transparency Act received Royal Assent on 26 October. This represents a significant turning point for the law on corporate criminal liability in the UK, and has been welcomed by...more

Jones Day

The Economic Crime and Corporate Transparency Act: A New Era for Corporate Prosecutions?

Jones Day on

The Situation: After a year of debate, the Economic Crime and Corporate Transparency Act (the "Act") was passed into law on 26 October 2023....more

Alston & Bird

“Failure to Prevent” and More: The UK Economic Crime and Corporate Transparency Act 2023 Is Here

Alston & Bird on

Our White Collar, Government & Internal Investigations Team highlights key elements of the UK’s Economic Crime and Corporate Transparency Act....more

A&O Shearman

Economic Crime and Corporate Transparency Act 2023 receives Royal Assent

A&O Shearman on

The Economic Crime and Corporate Transparency Act 2023 (the “Act”) received Royal Assent on 26 October 2023, having received its first reading in Parliament over a year ago and more recently having been the object of a series...more

A&O Shearman

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

A&O Shearman on

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

TransPerfect Legal

The Economic Crime and Corporate Transparency Bill

TransPerfect Legal on

The battle against corporate crime intensifies as the UK government seeks to weaponise its incoming legislation. The "failure to prevent fraud" offence will require every large business to have ‘reasonable procedures in place...more

Jenner & Block

Client Alert: Failure to Prevent Fraud – What Do You Need to Know About the New Corporate Offence?

Jenner & Block on

On 11 April 2023, the UK Home Office tabled an amendment to the Economic Crime and Corporate Transparency Bill (the Bill), which is currently making its way through the UK Parliament. The amendment introduces a much...more

WilmerHale

Failure to Prevent Fraud for UK Corporates

WilmerHale on

The UK Government yesterday introduced a new corporate “failure to prevent fraud” offence into draft legislation, the Economic Crime and Corporate Transparency Bill (“the Bill”). This is a significant development in UK...more

Goodwin

UK Limited Partnership Legislative Reform Package Introduced in the Economic Crime and Corporate Transparency Bill

Goodwin on

​​​​​​​The Economic Crime and Corporate Transparency Bill (the Bill) includes a package of proposed legislative amendments to U.K. limited partnership (UKLP) law, substantially to tighten registration requirements and improve...more

Dechert LLP

Register of Overseas Entities Comes into Force – are you ready?

Dechert LLP on

Earlier this year Dechert reported on the new Register of Overseas Entities ("ROE"), introduced in March as Part 1 of the Economic Crime (Transparency and Enforcement) Bill (the "Bill"). The Bill was enacted on 15 March 2022,...more

Dechert LLP

FCA Enforcement: Are your Financial Crime Systems and Controls in order?

Dechert LLP on

Key Takeaways - The FCA has recently fined JLT Specialty Limited and Ghana International Bank for limitations in their financial crime systems and controls, specifically weaknesses relating to anti-money laundering (AML)...more

A&O Shearman

Economic Crime (Transparency and Enforcement) Act 2022

A&O Shearman on

The Economic Crime (Transparency and Enforcement) Act 2022 has received Royal Assent. The Act is designed to increase transparency and enhance the U.K.'s mitigation of money laundering and sanctions evasion. The Act will...more

Dechert LLP

Economic Crime Act tears through Parliament, but does it have any teeth?

Dechert LLP on

In the early hours of 15 March 2022, following a wait of almost five years, the UK Parliament introduced into law the Economic Crime (Transparency and Enforcement) Act (the "Act"). The Act was fast-tracked at an...more

WilmerHale

The UK’s economic crime enforcement gap: the merits of a new funding proposal

WilmerHale on

On 24 January 2022, the anti-corruption campaign group Spotlight on Corruption published a report on the state of economic crime enforcement in the UK (the “Report”). The Report warns that “the UK is currently losing the...more

BCLP

The Economic Crime Bill: what is it and how much might change?

BCLP on

The House of Commons Treasury Committee recently published their Eleventh Report of Session 2021–22 (the “Report”). In addition to identifying key gaps in the Government’s response to economic crime, the Report makes a number...more

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