Corporate Crime & Compliance UK

bitcoin symbol atop a stack of gold coins

UK Crypto Seizure Tees Up £5.5B Legal Battle With China

The record capture by British police of £5.5 billion ($7.4 billion) in cryptocurrency from a convicted money launderer has set up a mammoth legal showdown between the U.K. and defrauded investors, who say the money should be returned to victims in China.

FCA's Crypto Rules Risk Abuse Without Tailored Safeguards

The proposed U.K. crypto-asset regime risks abuse because it tries to clamp traditional finance rules on to a digital asset class, leaving gaps which expose unwary investors to criminals unless new safeguards are added, legal experts have warned.

The crest on the building of a crown court in Southwark.

SFO Gears Up For Fight Over Ex-Petrobras Exec Cash Seizure

The Serious Fraud Office will fight on Monday to hold on to its largest-ever seizure of cash as part of the first-ever legal challenge contesting the agency's powers to confiscate allegedly tainted money.

Image of the High Court in London, taken from below.

Litigation Conduct Ruling Sparks 'Major Fear' For Lawyers

A recent High Court decision that unqualified employees of law firms are prohibited from conducting litigation has caused "major fear" among lawyers and created uncertainty about firms' profitability, the training of new talent, access to justice and even the use of artificial intelligence in legal practice.

October 06, 2025
SFO Stands By Ex-Deutsche Bank Trader's Fraud Conviction

The Serious Fraud Office said Monday that the conviction of a former Deutsche Bank AG trader for conspiring to rig a benchmark interest rate remains safe even after the U.K.'s highest court overturned similar cases of two former bankers earlier this year.
October 06, 2025
London Casino Loses Dispute Over VAT Base Method

HM Revenue & Customs used the correct method for calculating the value-added tax base of a casino, a London court ruled Monday, rejecting the casino's arguments for the use of a special method that would have allowed it to recover more input VAT.
October 06, 2025
Carter-Ruck Pro Can't Get Info On SRA OneCoin Investigation

A Carter-Ruck partner who threatened to sue a whistleblower who exposed the multibillion-dollar OneCoin crypto-scam failed to convince a tribunal Monday to order the Solicitors Regulation Authority hand over information about the decision to press on with her prosecution.
October 06, 2025
Regulators Crack Down On Misleading Motor Finance Ads

The Financial Services Authority said Monday it has joined forces with the Solicitors Regulation Authority and other watchdogs to stop misleading advertising by claims management companies and law firms working on motor finance claims.
October 06, 2025
Qualcomm Accused Of Driving Up Phone Prices At £480M Trial

British consumer group Which told a London tribunal that Qualcomm drove up Apple and Samsung phone prices by threatening to cut component supply in patent license negotiations, kicking off the trial of its £480 million ($655 million) case on Monday.
October 06, 2025
Lloyds Pushes To Slash £1.3B Arena TV Fraud Claims To £50M

Lloyds Bank PLC and its Bank of Scotland PLC subsidiary sought at a London court hearing on Monday to slash "extravagant" claims worth a combined £1.3 billion ($1.7 billion), brought by failed broadcast equipment companies at the center of fraud allegations.
October 06, 2025
Linklaters Fails To Toss Fintech Investor's Negligence Case

Linklaters lost an attempt on Monday to strike out a claim brought by a financial technology investor that the Magic Circle firm had negligently failed to spot a "large-scale fraud" against a company that the investor had acquired.
October 06, 2025
Former Petrobras Exec's $7.7M Asset Fight Delayed To 2026

The challenge brought by a former Petrobras executive to the seizure from him by the Serious Fraud Office of $7.7 million will continue in 2026 to allow additional information about related Brazilian proceedings to be gathered, a London court ordered on Monday.
October 06, 2025
Ex-Soldier Gets 7.5 Years In Prison For £1.3M Ponzi Fraud

A former British Army rifleman convicted of running a £1.3 million ($1.75 million) Ponzi scheme was sentenced to seven-and-a-half years in prison on Monday, as a judge said it was a "great pity" he had not seen the strength of the evidence against him.
October 06, 2025
Justices Won't Review Ex-BigLaw Atty's OneCoin Conviction

The U.S. Supreme Court on Monday declined to take up a former Locke Lord LLP partner's appeal of his conviction and prison sentence for helping launder roughly $400 million in proceeds from the infamous OneCoin cryptocurrency scheme.
October 06, 2025
Pogust Goodhead Seeks To Exit Dieselgate Lead Role

Pogust Goodhead asked a court on Monday for permission to exit its role as joint lead firm on the Dieselgate litigation, a week before the trial is due to begin in what is one of the largest group actions ever brought.
October 03, 2025
Ex-Petrobras Exec's Challenge To $7.7M Seizure Delayed

A former Petrobras executive's challenge to the U.K's Serious Fraud Office's seizure of $7.7 million from him was delayed by a London court Friday, after the white-collar agency said it needed time to gather evidence about related proceedings in Brazil.
October 03, 2025
UK Litigation Roundup: Here's What You Missed In London

This past week in London has seen billionaire Michael Platt sue his former tax lawyer, five former Deutsche Bank staffers file claims against the German bank and an Italian financier issue a commercial fraud claim against the Vatican and UBS.
October 03, 2025
SFO Investigator Loses Whistleblowing Case Over Disclosure

A former Serious Fraud Office senior investigator who claims he lost a job promotion for raising concerns about a disclosure policy lost his case Friday when a tribunal dismissed his whistleblowing claim.
October 03, 2025
Denmark's £1.4B Cum-Ex Loss Raises Legal Strategy Doubts

Denmark's "bruising" defeat in its £1.4 billion ($1.9 billion) cum-ex fraud case against trader Sanjay Shah and others calls into question its legal strategy and the scope of its claim, lawyers have said, although they believe an appeal appears inevitable.
October 03, 2025
EU Markets Watchdog Widens Supervisory Reach For 2026

The European Union's financial markets regulator said Friday it will expand its supervisory responsibilities into a raft of new areas in 2026, including sustainability ratings, green bond issuance and the giant information technology service providers.
October 03, 2025
Denmark Denied Permission To Appeal £1.4B Cum-Ex Defeat

Denmark cannot revive its £1.4 billion ($1.9 billion) against scores of traders and financial institutions over a cum-ex tax fraud it said was orchestrated by convicted hedge fund trader Sanjay Shah.
October 02, 2025
Russia Claims Fraud Tainted $63B Yukos Arbitration Awards

Russia has told a London court that a $63 billion arbitration award to investors in Yukos Oil is unenforceable because the investors obtained it by concealing documents and bribing a witness.
October 02, 2025
BA Rejects Passengers' Data-Breach Claims As 'Unarguable'

British Airways has hit back at claims from thousands of customers who allege that the airline failed to protect their personal data from a cyberattack, arguing that the claims are time-barred and not well founded.
October 02, 2025
Groups Want Treasury Flexibility On Overseas Equivalence

U.K. and European financial services trade bodies have asked HM Treasury to take a flexible approach in recognizing overseas regimes as effectively "equivalent" to allow overseas firms access to U.K. customers, with a year's notice of withdrawal.
October 02, 2025
Commerzbank Says Analyst Made Bogus Harassment Claims

Commerzbank urged a London judge on Thursday to find a former analyst was in contempt for making "wholly bogus" allegations of sexual harassment in an employment tribunal against his former colleagues.
October 02, 2025
Deutsche Sued By Bankers Tied To Monte Dei Paschi Case

Deutsche Bank has been hit with legal claims in London by five former employees who were convicted and subsequently acquitted for aiding false accounting and market manipulation in one of Italy's biggest financial sandals, according to High Court filings published Tuesday.
October 02, 2025
Denmark Loses £1.4B Cum-Ex Fraud Case Against UK Trader

Denmark lost on Thursday its £1.4 billion ($1.9 billion) legal claim against scores of traders and financial institutions over a cum-ex tax fraud it said was orchestrated by convicted hedge fund trader Sanjay Shah.
October 01, 2025
Daily Mail Publisher Seeks To Contain Celebs' Privacy Claims

The publisher of U.K. tabloid The Daily Mail sought to prune claims brought by public figures including Prince Harry over alleged unlawful information-gathering techniques, arguing Wednesday that they should be restricted to specific allegations of wrongdoing.
October 01, 2025
Law Firm Denies Liability Over Fraudulent Property Deal

A regional law firm said it should not be liable to pay nearly £1 million ($1.35 million) to a property developer for representing a fraudster posing as the owner of a London property, saying it believed the sale was a genuine transaction.

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

Supreme Court Ruling Stands Firm On Trust Law Principles

The U.K. Supreme Court’s recent strict application of trust law in Stevens v. Hotel Portfolio may render it more difficult for lawyers in future cases to make arguments based on a holistic assessment of the facts, says Olivia Retter at Quinn Emanuel.
FCA's Woodford Fine Sends Warning To Fund Managers

The Financial Conduct Authority’s recent decisions concerning Neil Woodford and the collapse of Woodford Investment Management mark an important moment for the U.K. investment industry, underscoring the regulator's focus on senior managers' personal accountability and the importance of putting investors’ interests at the heart of decision-making, say lawyers at Irwin Mitchell.
How Data Use Act Tightens Complaint Handling Procedures

Recently effective Data Use Act procedural requirements are coinciding with an artificial intelligence-driven increase in complaints from users about data subject access request responses, so organizations need to formalize their grievance process to prevent intervention by the Information Commissioner's Office and potential penalties, say lawyers at Womble Bond.
UK Supreme Court Dissent May Spark Sanctions Debate

While the recent U.K. Supreme Court's rejection of Eugene Shvidler’s appeal determined that sanctions decisions are primarily the government’s preserve, Justice Leggatt’s dissenting view that judges are better placed to assess proportionality will cause ripples and may mark a material shift in how future appeals are approached, say lawyers at Seladore.
What EBA Report Means For Non-EU Financial Firms

In a recent report concerning unregulated third country banks, the European Banking Authority decided not to extend a bank-to-bank exemption under the Capital Requirements Directive, raising a number of compliance issues for cross-border services, say lawyers at A&O Shearman.
HMRC's Automation Shift Likely To Alter Tax Adviser Role

HM Revenue & Customs’ recently released digital transformation road map promises greater efficiency and a modernized compliance regime, but the increased automation could also mean that the tax adviser role will become more proactive and more defensive, say lawyers at RPC.
What UK's New Prosecution Guidance Means For Compliance

Recent guidance from the U.K.'s Serious Fraud Office and Crown Prosecution Service, aligning their approach with the Economic Crime and Corporate Transparency Act, offers a timely prompt for corporate boards and legal teams to update their risk management frameworks, say lawyers at Signature Litigation.
Viral Comms Crises Create Dual Corp. Governance Threats

As legislative hearings increase in frequency and social media fuels their reputational impact, corporate legal teams face a new dual challenge that reflects a fundamental shift in accountability and demands new strategies, governance frameworks and organizational capabilities, says Joanna Ludlam at Jenner & Block.
How AI May Have Made A Difference In Monzo Bank Breaches

Artificial intelligence tools have the capabilities needed to keep pace with increasingly sophisticated threats, and such tools might have helped prevent the anti-money laundering failures that led to the recent £21.1 million fine against Monzo Bank, says Alexander Vilardo at Howard Kennedy.
A Softer Tack For Online Ads Marks Next Step In Data Reform

While the initiative of the U.K. Information Commissioner's Office to relax enforcement of advertising cookie consent represents a welcome attempt to balance privacy protection and commercial realities, several questions remain that will limit companies' ability to benefit from the U.K. proposals, say lawyers at Skadden.
CMA App Store Mandates Fall Short Of Regulatory Ambitions

The Competition and Markets Authority's recent proposals to loosen Google and Apple’s mobile platform duopoly are a far cry from the assertive and wide-reaching interventions that advocates of the Digital Markets Unit had hoped to see from the new competition regulator, says Ronan Scanlan at Steptoe.
Catching Up On Simplified EU Sustainability Disclosure Rules

A recent proposal to streamline implementation of the EU’s Taxonomy Regulation contains measures that would reduce companies’ sustainable investment reporting and compliance requirements, and better support the EU’s climate and environmental goals, say lawyers at Proskauer.
Cos. Must Take Action As Corporate Enforcement Evolves

The Serious Fraud Office's renewed vigor toward proactive corporate enforcement, as evidenced by its recently affirmed commitment to collaboration with the U.S. on cross-border investigations, means that organizations must solidify their antibribery and corruption frameworks to remain ahead of fast-moving regulatory and legislative initiatives, say lawyers at Weil.
UK Reforms Investment Rules, But Clarity Concerns Remain

The U.K. government’s recent reforms to the National Security and Investment Act 2021 demonstrate a continuing pragmatic approach by requiring fewer deal filings, but the regime would benefit from more clarity in key areas, say lawyers at McDermott.
Fraud Law Puts Fund Managers Under Compliance Spotlight

The new failure to prevent fraud offense, effective Sept. 1, may not represent a material departure from most managers’ duties to exercise due care in preventing loss to the assets they manage, but the prospect of criminal liability should sharpen their compliance focus, says Andrew Henderson at Goodwin Procter.