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As mentioned in our previous post, in recent weeks the UK has issued various statements in relation to the possibility of additional sanctions on Russia in response to the current situation in Ukraine...

The new Unexplained Wealth Orders regime came into force on Wednesday 31 January 2018.

BCL partner John Binns's corporate crime analysis for ‘R (Youssef) v Secretary of State for Foreign, Commonwealth and Development Affairs' has been published by Lexis PSL.

Citibank, JPMC and UBS have also faced huge fines from their home regulators, including the CFTC and Finma.

On 29 March, the UK’s Financial Services Authority ("FSA") published the findings of its recent thematic review into anti-bribery and corruption systems and controls in investment banks.

The Office of Fair Trading (OFT) announced on 10 May 2010 that it has dropped its criminal proceedings against one current and three former executives of British Airways (BA) following a significant collapse in the prosecution’s evidence.

The Bribery Act 2010 (the "Act") received Royal Assent on 8th April 2010.

The Economic Crime and Corporate Transparency Act 2023 (ECCTA) expands corporate criminal liability by broadening the identification doctrine to include "senior management" beyond company officers. This statutory test aims to ensure legislative certainty and deter senior management from committing economic crimes within their authority.

Deferred Prosecution Agreements (‘DPAs’) are voluntary agreements due to come into force on 24 February 2014, pursuant to which a prosecutor and an organisation can agree that, as long as certain terms of the DPA are satisfied the prosecutor will initially suspend and eventually terminate criminal prosecution of the organisation.

How much do businesses that operate in the UK need to worry about financial crime?

After criticism from the Organisation of Economic Co-operation and Development (OECD), triggered mainly by the judicial handling of the investigation into the recent bribery allegations against BAE Systems plc, the anticipated Bribery Act 2010, which has now received royal assent and is expected to be brought into force later this year, represents a significant overhaul by codifying and, in some instances, dramatically extending preexisting anti-corruption rules.

On 8 February 2023, the U.K. Government confirmed its intention to propose that a new "failure to prevent" corporate criminal offence be included in the Economic Crime Bill...

In an important decision, the Commercial Court considered whether or not a company which had perpetrated a fraud could claim against its auditors for failing to detect and report that fraud. Even though this involved the company relying on its own fraud, the Court nevertheless held that it could continue with its claim against the auditors.

Following on from our update of last autumn, The UK Ministry of Justice published its revised final guidance last week on the UK Bribery Act 2010, which is now scheduled to come in to force on 1 July 2011.

In Bilta (UK) Limited v Royal Bank of Scotland [2017] EWHC 3535 (Ch), the High Court once again addressed the application of legal privilege to documents prepared in the course of an internal investigation.

The Bribery Act 2010 (the "Act") received Royal Assent on 8th April 2010.

The Bribery Act became law on 1 July 2011. The legislation applies to all companies, partnerships and individuals based in the UK, as well as foreign companies and individuals doing business in the UK.