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On 21 December 2010, BAE Systems Plc ("BAE") was fined £500,000 (plus £225,000 in costs) after pleading guilty under a settlement agreement with the Serious Fraud Office ("SFO"), to an offence under section 221 of the Companies Act 1985 of failing to keep adequate accounting records.

‘Failure to prevent' offences have changed the landscape of corporate criminal liability.

The UK's Economic Crime and Corporate Transparency Act 2023 introduces a Failure to Prevent Fraud offence, requiring businesses to enhance internal controls and prevent fraud. Key principles include leadership commitment, risk assessment, and leveraging data for detection.

Welcome to the October edition of Mishcon Fraud Watch, prepared by the Corporate Investigations & Asset Recovery Group at Mishcon de Reya. Its aim is to provide businesses and their advisors with a snapshot of what has been happening in the world of fraud in the last month.

The Bribery Act 2010 (the ‘Act') comes into force on 1 July 2011 and simplifies and expands the range of bribery-related offences for which individuals and organisations can be prosecuted.

Two judgments handed down in the last year have caused renewed interest in the court's ability to 'pierce the veil of incorporation'.

The new corporate offence of a company's failure to prevent a bribe being paid on its behalf in the UK or elsewhere by a person with whom it is associated (which term includes employees and agents), subject to a defence of "adequate procedures" being in place to prevent a bribe.

With the advent of the new UK Bribery Act and continued regulatory developments, anti-bribery and corruption compliance should now be a high priority for financial institutions.

On 31 July 2018, the Administrative Division of the High Court of England and Wales blocked the extradition of Stuart Scott to the United States.

In a recession, there is normally an increase in financial crime and an increase in the discovery of financial crime.

Welcome to the September edition of Mishcon's Culture vs Corruption Diary, the object of this diary is to provide businesses and their advisors with a snapshot of what is happening in the world of corruption in the last month.

The topic of hidden assets is a major issue for many clients who first ask us for assistance at various stages of confiscation proceedings.

The Economic Crime and Corporate Transparency Bill (Bill) was introduced to Parliament and given its first reading on September 22, 2022. It follows publication of the...

Financial crime approaches have become disconnected because many firms are essentially 'brown-field environments', in which activities have evolved as tactical responses to incremental changes in the external regulatory environment.

Our global Corporate Crime and Investigations team welcomes you to our new six-monthly round-up of the key CCI themes emerging around the world. In this new publication...

Welcome to the October edition of Mishcon's Culture vs Corruption Diary, the object of this diary is to provide businesses and their advisors with a snapshot of what is happening in the world of corruption in the last month.

In R v Jukes the Court of Appeal held that an interview in an internal investigation was not held for the dominant purpose of litigation.

Earlier this month, Lee Charnley, managing director of Newcastle United, was among a number of senior European football officials arrested as part of an investigation into the tax affairs...