Corporate Crime & Compliance UK

  • July 02, 2024

    Gambling Biz Settles €273M Buyout Dispute With Financier

    Gambling hall operator MaxBet has settled a host of international legal disputes with Luxembourg-based financial holdings company Maximus stemming from a deal for Maximus to purchase various MaxBet-owned businesses that went south, lawyers for MaxBet told Law360 on Tuesday.

  • July 02, 2024

    £8.5M Property Deal Said To Defraud Creditors In Debt Row

    A British Virgin Islands-registered company has asked a London court to declare that the transfer of an estimated £8.5 million ($10.8 million) property by one of its debtors was done to intentionally hinder the company's chances to reclaim the money it is allegedly owed.

  • July 02, 2024

    Worldpay Faces Demand For Client Info In Alleged FX Fraud

    An architecture firm has asked a London court to order merchant service provider Worldpay to hand over a virtual ledger of one of its customer's accounts in an attempt to track down $1.17 million allegedly missing in a forex broker fraud.

  • July 02, 2024

    Ex-Bird & Bird Pro Fights To Toss Sexual Misconduct Case

    A former Bird & Bird LLP partner asked the Solicitors Disciplinary Tribunal on Tuesday to throw out allegations of sexual misconduct toward two junior female colleagues, arguing that the sector's watchdog was prosecuting him after "egregious" delays and an "inadequate" investigation.

  • July 01, 2024

    Solicitor's COVID Letters Had 'No Legal Merit,' SRA Says

    The Solicitors Regulation Authority accused a solicitor at a London tribunal Monday of wrongly sending threatening legal letters to bodies for his clients who refused the COVID-19 vaccine, saying the letters had "no legal merit."

  • July 01, 2024

    Meta 'Pay Or Consent' Model Breaches Digital Rules, EU Says

    Meta's "pay or consent" advertising model for Facebook and Instagram users does not comply with the European Union's Digital Markets Act, the bloc's antitrust watchdog said in preliminary findings on Monday.

  • July 01, 2024

    Global Group Tells Banks To Report Suspected Crime Better

    A global banking group for combating financial crime warned Monday that banks should improve the quality of suspicious activity reports to make them more useful to law enforcement and cutting current over-reporting.

  • July 01, 2024

    Company Director Accused Of Funds' Use For Own Expenses

    A supply chain company is suing a former director and his wife for over £2 million ($2.5 million), alleging he authorized company payments toward hotels in Dubai, a London private members club and his daughter's tuition fees for his family's benefit.

  • July 01, 2024

    Monzo Introduces New Anti-Fraud Controls

    Monzo Bank Ltd. launched Monday three new security features to add a layer of protection for payments and pot withdrawals exceeding a daily allowance while addressing the growing concern of phone theft and fraud.

  • June 28, 2024

    EU Wraps Antitrust Probe Of Microsoft's OpenAI Stake

    The European antitrust authorities have ended their probe into tech giant Microsoft's control of authority in artificial intelligence-powered chatbot ChatGPT's owner OpenAI, but are switching the angle of the investigation in the partnership that could lead to a formal competition probe.

  • June 28, 2024

    SRA Launches Consultation On New Financial Penalties

    The Solicitors Regulation Authority on Friday said it is seeking feedback on its proposals to update its approach after being granted new powers to issue unlimited financial penalties.

  • June 28, 2024

    Forced Labor Ruling To Spur NCA Scrutiny On Supply Chains

    An English appellate court's landmark findings that the National Crime Agency misunderstood the U.K.'s anti-money laundering powers could cast greater scrutiny on the extent of illicit goods flowing through companies' supply chains, lawyers say.

  • June 28, 2024

    Shein, Temu Ordered To Turn Over Info For EU Probe

    The European Union's executive arm said Friday it has ordered Temu and Shein to provide it with information relating to its new EU online content rules, following complaints from consumer organizations and its own investigations.

  • June 28, 2024

    EU Adds 4 Pro-Russian Companies To Sanctions List

    The Council of the European Union added four Russian companies and two individuals to its sanctions list Friday for actions that threaten Ukraine amid Russia's waging war against it.

  • June 28, 2024

    UK Litigation Roundup: Here's What You Missed In London

    This past week in London has seen Uber hit with claims from Addison Lee and the former CEO of the Kabbee app, animal by-product company Leo Group file a defamation claim against a local anti-odor campaigner, and a self-styled lord who claims to be the illegitimate son of the late Prince Phillip resume legal action against his cousins for a share in his late aunt's estate. Here, Law360 looks at these and other new claims in the U.K.

  • June 28, 2024

    Turkey Taken Off Global AML Monitoring List After Rule Fixes

    The Financial Action Task Force said Friday that it has removed Turkey from its "gray list" after the country improved its anti-money laundering rules and strengthened its regulations combating the financing of terrorism.

  • June 28, 2024

    ING Claim Would Fund Sanctioned Billionaire, Tecnimont Says

    ING cannot recover money from Tecnimont in a €212 million ($227 million) bond dispute because compensating the Dutch lender would directly fund a sanctioned Russian billionaire, the Italian industrial group said in London court filings.

  • June 28, 2024

    Ex-Fuel Trader Acquitted Of Fraud Over 'Secret' Commissions

    A London jury acquitted a former fuel trader of fraud and money laundering on Friday after briefly deliberating over the Serious Fraud Office's allegations that he received £5.2 million ($6.6 million) in secret commissions as part of a fraud against his employer. 

  • June 27, 2024

    Barclays Says Businessmen Breached £13.7M Freezing Order

    Barclays Bank PLC told a London court Thursday that three businessmen breached a freezing order by moving assets offshore as it sued them, claiming they conspired to take £13.7 million ($17.4 million) by exploiting its overdraft mechanism.

  • June 27, 2024

    NCA Must Reconsider Uyghur Chinese Cotton Probe

    The U.K.'s National Crime Agency must reconsider its decision refusing to launch a broad investigation into imported cotton produced by the forced labor of Uyghur people in China, a London appellate court ruled Thursday in a first-of-its-kind decision that could disrupt retail supply chains.

  • June 27, 2024

    Xeinadin Sues Ex-Director, Wife Over Breach Of Duties

    Xeinadin has sued the former director of an accountancy firm it acquired and his wife for more than £1 million ($1.2 million) it claims it is owed from the deal to buy their stake in the firm after it sacked him amid allegations of fraud.

  • June 27, 2024

    FCA Official Vows To Pick Up The Pace Of Fraud Probes

    The Financial Conduct Authority is working to increase the "pace" of its investigations of fraud and other financial crimes as a law enforcer and regulator, the watchdog's joint head of enforcement said.

  • June 27, 2024

    Prince Harry Must Disclose Ghostwriter Texts To News Group

    Prince Harry was ordered by a judge Thursday to provide documents including messages between him and his ghostwriter to the U.K. arm of Rupert Murdoch's media empire in its fight against his invasion of privacy claim, after the publisher accused the royal of destroying evidence.

  • June 27, 2024

    Amazon Hit With Fresh £2.7B Class Action By Online Sellers

    Amazon was hit Thursday with a £2.7 billion ($3.4 billion) class action claim in London for allegedly abusing its dominant position in the supply of e-commerce marketplace services and discriminating against more than 200,000 U.K. sellers on its platform.

  • June 26, 2024

    Julian Assange Freed After Judge Accepts US Plea Deal

    Julian Assange returned to his native Australia on Wednesday hours after a federal judge in the Northern Mariana Islands accepted his plea deal with the U.S. Department of Justice and sentenced him to time served for conspiring to disclose national security information.

Expert Analysis

  • How Gov't Response Addresses Investment Act Concerns

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    The government’s recently published response to a call for evidence on the National Security and Investment Act is largely appropriate to stakeholder concerns raised and demonstrates in its five areas of focus that it is willing to respond to live issues, say lawyers at Watson Farley.

  • New Legislation May Jeopardize The Future Of Data Protection

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    While U.K. officials argue that the recently enacted Investigatory Powers (Amendment) Act seeks to enhance national security and the pending Data Protection and Digital Information Bill aims to modernize data protection regulations, both give rise to concerns about achieving a balance between security needs and individual liberties, says Maria Moloney at PrivacyEngine.

  • 'Debanking' Complaints Highlight Need For Flexibility In AML

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    The House of Commons' Treasury Committee's concerns about bank account closures have highlighted certain counterproductive features of anti-money laundering laws, and the review offers the opportunity for a more flexible approach, says John Binns at BCL Solicitors.

  • Mitigating Incarceration's Impacts On Foreign Nationals

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    Sentencing arguments that highlighted the disparate impact incarceration would have on a British national recently sentenced for insider training by a New York district court, when compared to similarly situated U.S. citizens, provide an example of the advocacy needed to avoid or mitigate problems unique to noncitizen defendants, say attorneys at Lankler Siffert.

  • How Sustainability Directive Will Contribute to EU Regulation

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    The EU Sustainability Directive, in potentially enhancing certain obligations and setting a new benchmark for environmental and human rights due diligence practices, is a significant piece of legislation that will likely support the broader legal framework of other laws in a developing legal puzzle, say Rebecca Chin and Silke Goldberg at HSF.

  • Experian Ruling Helps Cos. Navigate GDPR Transparency

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    In Information Commissioner v. Experian, the Upper Tribunal recently reaffirmed the lawfulness of the company's marketing practices, providing guidance that will assist organizations in complying with the GDPR’s transparency obligations, say lawyers at Jenner & Block.

  • Clarity Is Central Theme In FCA's Greenwashing Guidance

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    Recent Financial Conduct Authority guidance for complying with the U.K. regulator's anti-greenwashing rule sends an overarching message that sustainability claims must be clear, accurate and capable of being substantiated, say lawyers at Cadwalader.

  • What The EU Sustainability Directive Will Mean For Companies

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    The European Parliament’s recent approval of the landmark Corporate Sustainability Due Diligence Directive provides welcome clarity for small and midsize enterprises regarding human rights and environmental due diligence expectations, forming part of a growing pressure on companies around the world to operate ethically and sustainably, say lawyers at Jenner & Block.

  • What Can Be Learned From CMA's Green Claims Investigation

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    The Competition and Markets Authority's recent investigation into retailers' allegedly misleading environmental claims demonstrates that all consumer-facing businesses must exercise caution and ensure their green credentials are genuine, say Charlotte Kong and Stephen Sidkin at Fox Williams.

  • The Art Of Corporate Apologies: Crafting An Effective Strategy

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    Public relations challenges often stop companies from apologizing amid alleged wrongdoing, but a recent U.K. government consultation seeks to make this easier, highlighting the importance of corporate apologies and measures to help companies balance the benefits against the potential legal ramifications, says Dina Hudson at Byfield Consultancy.

  • AI Tools Could Enhance UK Gov't Public Services Strategy

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    The government’s recently announced intention to pilot artificial intelligence tools in routine policy work is part of a wider strategy to revolutionize the delivery of public services, and could improve productivity and create efficiencies, provided it is mindful of the potential risks involved, say attorneys at Akin.

  • Taking Stock Of The Latest Criminal Court Case Statistics

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    The latest quarterly statistics on the type and volume of cases processed through the criminal court illustrate the severity of the case backlog, highlighting the need for urgent and effective investment in the system, say Ernest Aduwa and Jessica Sarwat at Stokoe Partnership.

  • ICO Data Protection Guidance Offers Clarity On Fining Powers

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    New guidance from the Information Commissioners' Office is designed to offer transparency about its fining powers, and, combined with the office's wide-ranging enforcement authority, clearly intends to ensure breaching companies concentrate on the external harm they cause and not only internal changes, say Robert Allen and Amelia Handoll-Clark at Simmons & Simmons.

  • Hugh Grant Case Raises Questions About Part 36 Offers

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    Actor Hugh Grant's recent decision to settle his privacy suit by accepting a so-called Part 36 offer from News Group — to avoid paying a larger sum in legal costs by proceeding to trial — illustrates how this legal mechanism can be used by parties to force settlements, raising questions about its tactical use and fairness, says Colin Campbell at Kain Knight.

  • Investment Security Act Fine-Tune May Help Businesses

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    Although the government’s recent response to feedback on the National Security and Investment Act regime makes it clear that its approach is one of fine-tuning and substantial reforms will have to wait, there is still room to ease the burden on businesses by issuing guidance and refining the terms of mandatory area definitions, say lawyers at Linklaters.

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