Corporate Crime & Compliance UK

Individual cryptocurrency coins on view on a black surface.

How Mishcon Helped Uncover £5.6B Money Laundering Plot

Law360 examines here how a suspicious activity report raised by Mishcon de Reya about a client's attempted transactions served as the catalyst for one of the biggest cryptocurrency seizures in British history.

Close-up of hands searching through files in a cabinet.

Carter-Ruck Test Case Could Redefine SRA's Privilege Rights

The Solicitors Regulation Authority is facing an unprecedented court challenge from Carter-Ruck to its power to force law firms to hand over privileged documents, a case that could embolden clients to refuse consent far more frequently and force legislative reform.

FCA Oversight Spells Tougher AML Scrutiny For Law Firms

The Financial Conduct Authority's new powers to police lawyers and other professionals could place law firms under a heightened supervisory regime similar to that of banks and other high-risk financial institutions, experts say.

'Name And Shame' Test Case Ruling Could Embolden FCA

Financial services companies should be ready to engage with consumers when faced with enforcement action, in a lesson from a test case of the reasoning behind a Financial Conduct Authority decision to "name and shame" a company that could encourage bolder naming actions, lawyers said.

November 14, 2025
Trafigura's $600M Fraud Trial To Test Metals-Trading Practices

Metals magnate Prateek Gupta will face trial in London on Nov. 17 over allegations that he and his companies perpetrated "systematic fraud" against Trafigura, with the trading company alleging that Gupta cheated it out of $600 million in a nickel fraud scheme.
November 14, 2025
Billionaire Used Spy To Extract Privileged Info From Solicitor

Mexican billionaire Ricardo Salinas Pliego used a private intelligence agent to dupe a law firm partner into divulging privileged and confidential information about a man Salinas claims defrauded him out of more than $415 million, a London court has found.
November 14, 2025
UK Litigation Roundup: Here's What You Missed In London

This past week in London has seen Freeths face a professional negligence claim from a Scottish car dealership, Rolls-Royce sue logistics giant Kuehne + Nagel, and a team of Oberon Investments Group investment managers sued by their former employer.
November 14, 2025
VietJet Avoids Criminal Contempt Claim In Aircraft Dispute

A subsidiary of an international private investment company cannot pursue a Vietnamese budget airline for contempt of court, after the Court of Appeal held Friday the airline cannot be criminally liable for conduct not prohibited by an injunction protecting the company's aircraft.
November 14, 2025
EU Court Upholds Sanctions On Relative Of Syria's Assad

A second cousin of former Syrian president Bashar al-Assad has lost a bid to lift sanctions against him as the European Union's top court rejected his argument that the bloc's decision to sanction him on the grounds of his family connection was unfair.
November 14, 2025
EU To Boost Cooperation Among Enforcers To Fight Tax Fraud

The European Union pledged on Friday to bolster its fight against massive tax fraud that costs approximately €89 billion ($103 billion) across the bloc each year by rolling out a plan to deepen cross-border cooperation.
November 14, 2025
Denmark Has Until Dec. 12 To Appeal £1.4B Cum-Ex Defeat

Denmark has 28 days to try to revive its £1.4 billion ($1.8 billion) case over a tax fraud allegedly orchestrated by convicted hedge fund trader Sanjay Shah, a judge said Friday as he gave full reasons for refusing permission to appeal.
November 14, 2025
BHP Found Liable In £36B Brazil Dam Collapse Case

BHP can be held liable in a £36 billion ($47 million) claim for the collapse of a dam in Brazil that triggered the country's worst environmental crisis, a High Court judge ruled Friday, handing a major win to lawyers representing more than 640,000 individuals.
November 13, 2025
Trump To Pardon UK Billionaire Lewis For Insider Trading

President Donald Trump has agreed to pardon 88-year-old British billionaire Joseph Lewis, who was sentenced to three years of probation for feeding nonpublic stock tips to his girlfriend and private-jet pilots.
November 13, 2025
Fed Frees SocGen, ICBC From 2018 Enforcement Orders

The Federal Reserve said Thursday it has lifted a pair of 2018 consent orders against Société Générale SA and Industrial and Commercial Bank of China, ending long-running enforcement actions tied to alleged sanctions violations at the former and alleged anti-money-laundering deficiencies at the latter.
November 13, 2025
Businessman Too Late To Challenge £5M Tax Evasion Penalty

A businessman's attempt to challenge a civil value-added tax evasion penalty of almost £5 million ($6.6 million) was refused because it was launched in breach of the time limit for appeals, a London tribunal ruled.
November 13, 2025
Red Bull Faces EU Probe Over Market Abuse Allegations

The European Commission said Thursday that it had opened an antitrust probe into Red Bull GmbH, saying the energy drink giant may have abused its dominance over the market by trying to stop competing drinks from being sold at retailers.
November 13, 2025
VTB Says OFSI Destroyed Its £188M UK Unit Recovery

Russia's VTB Bank argued at a London court Thursday that the U.K.'s sanctions authority had wrongly attempted to block it from recovering anything from the administration of its British subsidiary, arguing that it should have been given a chance to make its case.
November 13, 2025
Shein Wins Stay On £5.8M Tax Fraud Case Pending Arbitration

Fashion retailer Shein won a bid on Thursday to stay a £5.8 million ($7.7 million) tax fraud case brought by a U.K. customs clearance company, ahead of arbitration proceedings in which Shein is fighting to recover £1.5 million.
November 13, 2025
Solicitor General Hails SFO's 'Innovative' First Wealth Order

The Solicitor General for England and Wales praised the Serious Fraud Office on Thursday for its first use of an unexplained wealth order to seize £1.1 million ($1.44 million), adding that the government plans to invest millions of pounds to expand the agency.
November 13, 2025
Ex-Reed Smith Lawyer Faces SDT Over Claims He Misled Firm

A former associate at Reed Smith LLP in the Middle East has been referred to a disciplinary tribunal after he allegedly submitted misleading information to the firm, the Solicitors Regulation Authority has said.
November 12, 2025
UK Banker Bonus Changes Could Boost Treasury Coffers

The U.K.'s relaxation of bonus rules for bankers may result in a tax windfall for HM Treasury along with what financial advisers expect to be a rise in the use of certain investment planning strategies, particularly those used to fund startups.
November 12, 2025
HMRC Hikes Business Fees For Supervising AML Compliance

The U.K. tax authority disclosed Wednesday that it will be increasing the fees it charges businesses to cover the cost of supervising them for compliance with anti-money laundering and terrorist financing regulations.
November 12, 2025
Tech Exec Denies Lying About CEO's Links To Russia

A former executive at a technology company has denied spreading defamatory lies about its chief executive's alleged ties to Russian intelligence, telling a London court that his remarks were both true and in the public interest.
November 12, 2025
UK Proposes New Cybersecurity Laws To Guard Vital Services

The government revealed Wednesday that it will table a battery of new laws to beef up the country's cyber-security defenses for essential public services like healthcare, drinking water, transport and energy.
November 12, 2025
HMRC Charges London Gallery With Russia Sanctions Breach

Britain's revenue authority accused the London branch of an international art gallery and a logistics company on Wednesday of breaching criminal sanctions that prevent the export of luxury goods to Russia by providing a contemporary art painting to a Russian collector.
November 11, 2025
Ibori's Bid To Overturn £101M Confiscation Order Narrowed

A former Nigerian governor convicted of money laundering in London can only partially challenge a £101.5 million ($134 million) confiscation order, as an appellate judge said Tuesday that his attempt to adjourn the proceedings "smacks very much of ambush."
November 11, 2025
Criminal Law Must Reform To Retain Talent, Leveson Warns

Retired judge Brian Leveson told the Justice Committee on Tuesday that criminal law must become more attractive for legal professionals if it is to retain the talent and experience needed within the justice system.
November 11, 2025
Briton Denies SEC's $148K 'Pump And Dump' Fraud Case

A U.K. citizen has denied that he helped two businessmen carry out a pump-and-dump fraud with U.S. companies, hitting back at a bid by the American financial markets regulator to claw back the proceeds of the alleged scheme.
November 11, 2025
Companies Ignoring Financial Crime Risks, FCA Says

Companies ranging from wealth managers to payment services providers are ignoring financial crime risks such as money laundering and anti-bribery, the Financial Conduct Authority said Tuesday in a review of business practices.

Editor's Picks

6 Bombshell Moments From Staley's Bid To Clear His Name

Jes Staley has suffered a bruising week as he testified about his relationship with Jeffrey Epstein, culminating in an admission by the former banker that he had sex with a member of the disgraced financier's staff.
5 Questions For Spencer West Partner Karl Foster

The Financial Conduct Authority's approach to enforcement and consumer protection has come up against government economic growth priorities and resistance from the sector to its proposals to "name and shame" companies early on during regulatory probes.
UK Russia Sanctions Face Landmark Test At Supreme Court

The U.K.'s sanctions regime faces a major test on Wednesday as billionaire Eugene Shvidler seeks to have his financial restrictions cast off — the first case to challenge Russian sanctions that has reached the country's highest court.

Expert Analysis

CMA Guide Clarifies Role Of Competition Law In Employment

The Competition and Markets Authority’s recent guide to applying U.K. competition law to employment market practices, with a focus on no-poach agreements, wage-fixing and exchange of sensitive information, provides welcome and timely guidance for employers trying to navigate this area, say lawyers at Lewis Silkin.
FCA Proposals Reduce Consumer Duty Compliance Burden

The Financial Conduct Authority’s recent proposals to streamline the consumer duty regime represent a pragmatic response to industry concerns, with a move toward sector-specific supervision and potentially narrowing its scope for wholesale and cross-border business, say lawyers at Simmons & Simmons.
How New Companies House ID Rules Affect Businesses

Lawyers at Shepherd & Wedderburn discuss the Economic Crime and Corporate Transparency Act’s new mandatory identity verification requirements for all company directors and persons with significant control, set to go live next week, which aim to curb fraud by improving the reliability of information held by Companies House.
Russia Sanctions Spotlight: Taking Russian Oil Off The Market

The recent sanctions targeting Russia's energy sector by the U.K., EU and U.S. aim to limit Russia’s ability to fund its war machine by the sale of fossil fuels, representing an important escalation that has the potential to affect a wide range of business activities, says Alexandra Melia at Steptoe.
Role Of UK Investment Act Is Evolving In M&A Deals

With merger and acquisition activity likely to increase in light of the government’s new defense industrial strategy, the role of the National Security and Investment Act will come into sharper focus, and its recent annual report confirms that scrutiny is intensifying, say lawyers at Kingsley Napley.
What To Know About EU's Reimposition Of Sanctions On Iran

Lawyers at Steptoe discuss the European Union’s recent reimposition of trade and financial sanctions against Iran, which will introduce legal and operational constraints that affect EU companies' commercial activities in the region.
Navigating Int'l Laws To Protect Children In The Digital World

The European Commission’s recent request to online platforms for information on their measures to protect minors using their services is part of an intensifying focus on safeguarding children, and with an ever-growing worldwide maze of regulations, digital businesses should conduct a holistic assessment to minimize risks, says Anna Morgan at Bird & Bird.
FCA Crypto Proposals Herald Tougher Oversight For Firms

The Financial Conduct Authority’s recent proposals to extend regulation to crypto-asset activities will bring parity, but implementation of the operational resilience requirements and enhanced financial crime controls will present compliance challenges, says Michelle Kirschner at Gibson Dunn.
EU Investment Reporting Rules Letup Signals Pragmatic Shift

While investment companies remain subject to far-reaching disclosure obligations under the Foreign Subsidies Regulation, new guidance from the European Commission on reporting passive limited partner commitments represents a drastic simplification and burden reduction, say lawyers at Paul Weiss.
SFO's 2-Year Transformation Signals Crackdown On Fraud

Two years after Nick Ephgrave’s appointment as director of the Serious Fraud Office, the introduction of new corporate criminal offenses and strengthened investigative methods sends a clear message to corporations that the agency is delivering on its promise to be bolder and more proactive about tackling fraud, say lawyers at BCL Solicitors.
How EU And UK Consumer Loan Protections Are Shifting

As market evolution and digitalization motivate both the European Union and the U.K. to revamp consumer protections around lending, the potential for divergence between these rules will pose new challenges for cross-border consumer credit lenders, say lawyers at Skadden.
EBA Guidance Shakes Up EU Securitization Market Practices

Although the European Banking Authority’s recent questioning of the common use of conditional sale agreements to season assets when setting up securitizations has come as an unwelcome surprise, competent regulators are expected to follow the EBA guidance, even though as a Q&A response it is not legally binding, say lawyers at Debevoise.
EU Act Establishes Data Sharing Rules, But Hurdles Remain

The recently effective European Union Data Act provisions establish harmonized rules to unlock the use of data generated by technology-embedded software, but leave practical challenges that organizations will need to navigate to comply with cross-border requirements, say lawyers at King & Spalding.
Decoding Arbitral Disputes: Arbitrator's Conviction Upheld

The Supreme Court of Spain recently upheld the criminal conviction of arbitrator Gonzalo Stampa for grave disobedience to judicial authority, rejecting the proposition that an arbitrator's independence can prevail over a court order retroactively disabling the very judicial act conferring arbitral jurisdiction, says Josep Galvez at 4-5 Gray's Inn.
Reviewing EU Competition Policy 1 Year After Draghi's Report

Implementation of the Mario Draghi report’s proposals to revamp European Union competition policy is currently case-specific, making it less visible, and more needs to be done in the way of merger review and antitrust enforcement, say lawyers at Linklaters.