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Christmas can be a boom time for online retailers and bargain-hunting consumers alike. At the same time however, lurking on the Dark Web are fraudsters and rogue employees looking to ruin your festive shopping spree.

Combating financial crime is a serious issue for firms in the regulated sector and brings with it many challenges for compliance and legal practitioners.

BCL partner, John Binns speaks to Edward Fennell at The Times to discuss the new Economic Crime Strategic Board (ECSB),

Worldwide freezing orders are, of course, normally granted on an ex parte basis in order to prevent the dissipation of assets by a defendant/respondent.

Prison sentences have been handed down to four defendants in a case where corrupt payments were obtained for passing on confidential procurement information to bidding suppliers.

Nicola Sharp of business crime specialists Rahman Ravelli believes their fears are unfounded.

The new offence of failure to prevent fraud comes into force on 1 September 2025 and the Serious Fraud Office (SFO) has warned that "time is running short for corporations to get their house in order

The UK Government has published long-awaited guidance on reasonable procedures to prevent fraud, starting the clock on the enforcement of the new corporate failure to prevent fraud offence introduced in the Economic Crime and Corporate Transparency Act 2023.

The UK's new "Failure to Prevent Fraud" (FTPF) offence mandates large organizations to implement reasonable fraud prevention measures or face liability. Key principles mirror the Bribery Act, emphasizing risk-based systems and corporate responsibility, though practical guidance remains vague.

It includes employees and third parties to the extent that the fund manager exercises a degree of direction or control over the third party's conduct.

The Financial Conduct Authority has launched a criminal investigation into Euro Exchange Securities UK Ltd for potential breaches of the Money Laundering Regulations 2017, marking the regulator's first major criminal probe into money laundering offences since 2021. The investigation focuses on alleged failures in risk assessment, customer due diligence, and internal controls between 2020 and 2026, with potential sanctions including imprisonment and unlimited fines.

The Financial Conduct Authority (FCA) has published a consultation paper FCA CP24/2 on proposals to increase transparency around enforcement and investigations.

A substantial fine of £1.4 million in addition to costs and a confiscation order of £851,152.23 has been made against The Sweett Group plc following its conviction under section 7 of the Bribery Act 2010.

Brand-Rex Limited in the UK has become the first company to be penalised for violating section 7 of the UK Bribery Act 2010.

Southwark Crown Court recently handed down the first sentence in relation to a corporate conviction under section 7 of the Bribery Act 2010 which deals with 'Failure of commercial organisations to prevent bribery'.

The types of fraud vary and some are easier to spot than others.

Financial fraud is a worldwide issue and it will come as no surprise that fraudsters take extreme measures to cover their tracks and hide the money they have taken from unsuspecting investors.

The scourge of Forex fraud still remains and the case against Xcore Capital, heard in the High Court this week, starkly highlights the nature of the perpetrators.