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Corporate Crime & Compliance UK
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July 10, 2025
Ninth Person Convicted In €2.3M German VAT Fraud
A German court has convicted the ninth individual linked with a €2.3 million ($2.7 million) value-added tax fraud scheme involving international trade of cars, European Union prosecutors announced Thursday.
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July 10, 2025
14 Arrested Over Suspected Phishing-Tied Tax Fraud Scheme
Fourteen people have been arrested as part of an international investigation into a large-scale tax fraud operation that used personal data stolen in phishing attacks, the U.K. tax authority announced on Thursday.
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July 10, 2025
Rusal Can Serve Claim On Abramovich Via Oligarch's Lawyers
A London judge on Thursday approved Russian aluminum giant Rusal to serve a claim on Russian oligarch Roman Abramovich via his lawyers over alleged breaches of an agreement setting out the governance of a Russian mining company.
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July 10, 2025
Four Arrested Over Cyberattacks On M&S, Co-Op and Harrods
The National Crime Agency arrested four people on Thursday for their suspected involvement in cyberattacks that targeted retail giants Marks & Spencer, the Co-op and Harrods.
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July 10, 2025
UK Watchdog Investigating Deloitte, Azets Over Stenn Audits
The U.K. accounting watchdog said Thursday it has started investigations into accounting firms Azets Audit Services Ltd. and Deloitte LLP over their audit of U.K. invoice financing firm Stenn Assets, which collapsed in 2024 after a lender found suspicious transactions.
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July 10, 2025
Signature Hires 2 Pros For New White Collar Crime Practice
Signature Litigation LLP said Thursday that it has hired two new partners from Goodwin Procter LLP and Cadwalader Wickersham & Taft LLP in London to spearhead the launch of a new global white collar crime practice.
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July 10, 2025
EU Prosecutors Detain 8 Individuals In €68M VAT Fraud Probe
European Union prosecutors revealed Thursday that they have detained eight people in Spain for their alleged involvement in a €68 million ($80 million) value-added tax fraud linked to alcohol imported from other member states.
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July 10, 2025
Housebuilders To Pay £100M After CMA Info-Sharing Probe
A group of housing developers has agreed to pay a record £100 million ($136 million) to build affordable homes after an investigation into suspected illegal information sharing by Britain's competition watchdog.
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July 09, 2025
OFAC Fines Tech Co. $1.4M Over Iran Sanctions Violations
Harman International Industries Inc. has agreed to pay more than $1.4 million to settle allegations from the U.S. Department of the Treasury's trade sanctions enforcement arm that various compliance deficiencies at the audio electronics company contributed to Iran sanctions violations.
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July 09, 2025
Sweden Wins €60M Pension Fraud Case Against Financier
A London court has ruled that a financier defrauded the Swedish government by setting up an illegitimate investment fund that took €60.7 million ($71.1 million) from savers' pension accounts.
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July 09, 2025
Insurers Argue $37M Liability Void Over Director's Charges
Six insurers told an appeals court Wednesday they should not have to pay $37 million to the owners of a cargo ship seized by the Indonesian navy because the policy was rendered void by the owner's failure to disclose that its director faced criminal charges.
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July 09, 2025
BoE Flags Cyber Risk Blind Spots In Stress Test
The Bank of England's regulatory arm has warned companies that financial firms are ill-prepared for a cyberattack that threatens timely settlements.
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July 09, 2025
Mastercard Unit Fined £12M Over Compliance Failures
The Bank of England said Wednesday that it has slapped an £11.9 million ($16.2 million) fine on Mastercard's U.K. payment systems operator Vocalink, in what the central bank called a first for a financial infrastructure company.
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July 09, 2025
Lawyers Warn Jury-Free Trials Won't Solve Court Backlog
Proposals to create a new division of court without juries will not solve the backlog of cases facing the criminal justice system without long-term investment to undo systemic underfunding, lawyers warned Wednesday.
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July 08, 2025
Fraud Trials Without Juries At Heart Of Radical Court Reform
A landmark independent review of England's ailing criminal court system on Wednesday called for serious and complex fraud cases to be tried by judge alone and the creation of a new category of court without juries.
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July 08, 2025
Post Office Blamed For Adversarial Stance To Scandal Claims
The Post Office and its advisers adopted an "unnecessarily adversarial attitude" to those seeking financial redress for the Horizon IT scandal, according to the first findings published Tuesday by the public inquiry into what has been labeled the worst miscarriage of justice in U.K. modern history.
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July 08, 2025
Oil Co. Says Nigeria Shouldn't Profit From £44M Legal Bill
An oil and gas company at the center of a fraud scandal arising from an $11 billion arbitration award issued against Nigeria urged the U.K.'s highest court Tuesday to change the currency for Nigeria's legal costs, arguing that the country would unjustly benefit from the depreciation of its own currency.
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July 08, 2025
Ban On Misconduct NDAs Throws Settlements Into Question
The government's proposal to void nondisclosure agreements covering alleged harassment and discrimination at work will discourage employers from settling claims, putting more pressure on tribunals and early conciliation services.
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July 08, 2025
Ex-Axiom Chief Ordered To Pay £5M SRA Intervention Costs
A London court ordered the former chief of Axiom Ince Ltd. to pay the multimillion-pound cost of regulatory intervention into the firm on Tuesday after concluding that he was involved with its misuse of £65 million ($88 million) of its clients' cash.
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July 08, 2025
Monzo Bank Fined £21M For Financial Crime Failings
The Financial Conduct Authority said Tuesday that it has fined Monzo Bank £21 million ($28.6 million) for failings in financial crime controls between October 2018 and August 2020.
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July 07, 2025
Malaysia Info Demand Gets Green Light In $14.9B Dispute
A Delaware judge has declined to nix an order allowing units of Malaysia's national energy company to seek discovery relating to a third-party funding deal that led to a $14.9 billion arbitral award issued against Kuala Lumpur following a territorial dispute stemming from a 19th-century land deal.
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July 07, 2025
Campaign Groups Fight For Full 'Dieselgate' Documents
Automakers accused of fitting emissions-test cheating devices in their cars should be forced to remove redactions they have made to documents filed in litigation brought by U.K. motorists, two climate campaign organizations argued at a hearing on Monday.
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July 07, 2025
Apple Appeals 'Unprecedented' €500M EU Digital Markets Fine
Apple Inc. launched an appeal on Monday to the European Commission's €500 million ($586 million) fine over anticompetitive behavior on its App Store that allegedly breached the European Union's Digital Markets Act.
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July 07, 2025
Law Firm Gets 'Vague' £4.6M Negligence Case Struck Out
A London court struck out on Monday an energy company's £4.6 million ($6.3 million) claim against Benson Mazure LLP, because the law firm would have unreasonable difficulty understanding and responding to the "vague and confused" case.
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July 07, 2025
TikTok Loses Appeal Over £12.7M Children's Data Fine
TikTok has failed to overturn a £12.7 million ($17.3 million) fine imposed for misusing children's personal data, after a tribunal Monday rejected the argument that the processing of the data was for creative or artistic purposes.
Expert Analysis
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Opinion
UK Gov't Needs To Take Action To Support Whistleblowing Bill
With a proposed Office of the Whistleblower Bill making its way through the U.K. Parliament, whistleblowing is starting to receive the attention it deserves, but the key to unlocking real change is for the government to take ownership of reform proposals and appoint an overarching whistleblowing champion, says Baroness Susan Kramer at the House of Lords.
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Issues To Watch At ABA's Antitrust Spring Meeting
Attorneys at Freshfields consider the future of antitrust law and competition enforcement amid agency leadership changes and other emerging developments likely to dominate discussion at the American Bar Association's Antitrust Spring Meeting this week.
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New UK Short Selling Rules Diverge From EU Regs
Although forthcoming changes to the U.K.’s short selling regulatory regime represent a welcome relaxation of restrictions and simplification of reporting processes, participants active in both the U.K. and EU markets will need to ensure compliance with two quite different sets of rules, says Ezra Zahabi at Akin.
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How New EU Product Liability Directive Will Affect Tech And AI
While the European Union’s new defective product liability directive, effective from December 2026, primarily provides clarifications rather than significant changes, it reflects the EU's commitment to addressing consumer protection and accountability challenges presented by the digital economy and artificial intelligence, say lawyers at Latham.
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What Latest FCA Portfolio Letter Means For Payments Firms
Charlotte Hill at Charles Russell discusses the Financial Conduct Authority’s recent portfolio letter to CEOs of payments firms, outlining the regulator’s expectations, and the steps that these companies may now need to take to ensure compliance and operational effectiveness.
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ECB Guide Targets Harmonized Cyber Testing Approach
The European Central Bank’s recently updated guidance for testing organizational resilience against sophisticated cyberattacks is a significant step forward, highlighting the importance of a unified approach to financial sector cybersecurity and alignment with Digital Operational Resilience Act requirements, say Simon Onyons and Nebu Varghese at FTI Consulting.
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Court Backlog Could Alter Work Safety Enforcement Priorities
While criminal prosecution remains the default course of action following the most serious workplace accidents, a record backlog of cases in the crown courts in England and Wales and safety regulators’ recognition of the need for change may allow for a more discerning approach, say lawyers at BCL Solicitors.
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New CMA Powers Will Change Consumer Protection Regime
The Competition and Markets Authority’s imminent broadened powers to impose penalties on organizations for unethical or misleading practices are likely to transform the U.K.’s consumer protection regime, and may lead to a rise in private litigation and increased regulatory scrutiny, say lawyers at Morgan Lewis.
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Opinion
Prospects For New Fraud Prevention Prosecution Look Slim
With the Labour Party's inherited patchwork of Conservative Party corporate crime legislation for preventing fraud and corruption, the forthcoming Economic Crime Act’s failure to prevent fraud offense is unlikely to be successful in assisting prosecutors bring companies to justice, says Matthew Cowie at Rahman Ravelli.
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What's Next After FCA Drops Troubled 'Name And Shame' Plan
A closer look at the Financial Conduct Authority's recent decision to toss its widely unpopular proposal changing the test for announcing enforcement investigations may reveal how we got here, why the regulator changed course, and where it’s headed next, say lawyers at Hogan Lovells.
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What To Note In EU Tech Transfer Agreements Consultation
Robert Klotz at Steptoe explains the European Commission’s main contemplated amendments to a regulation that exempts certain technology transfer agreements from European Union restrictions, the current political context around the ongoing reform, and as its potential consequences for businesses.
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UK Refusal Of US Extradition Request May Set New Standard
The recent U.K. Supreme Court ruling in El-Khouri v. U.S., denying a U.S. extradition request, overturns a long-held precedent and narrows how U.K. courts must decide such requests, potentially signaling a broader reevaluation of U.K. extradition law, say lawyers at Dechert and Kingsley Napley.
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Insights On ESMA's Alternative Investment Fund Consultation
Aaron Mulcahy at Maples Group discusses key points from the European Securities and Markets Authority’s recent consultation on open-ended loan-originating alternative investment funds, highlighting the growth in semi-liquid evergreen funds and explaining ESMA’s proposed standards.
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How UK Supreme Court May Assess Russia Sanctions Cases
In two recent U.K. Supreme Court cases challenging the U.K. Russia sanctions regime, the forthcoming judgments are likely to focus on proportionality and European Convention on Human Rights compatibility, and will undoubtedly influence how future challenges are shaped, says Leigh Crestohl at Zaiwalla.
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How EU Digital Act Could Shape UK Technology Disputes
Noncompliance with the recently effective European Union Digital Operational Resilience Act will add layers of complexity to disputes and litigation for U.K.-based firms servicing EU entities, but international standards may serve as a bridge between jurisdictional and contractual misalignments, says Siobhan Forster at Alvarez & Marsal.