05 Aug, 2022 Government launches new Public Sector Fraud Authority By Lorna Emson Helen Harvey Helin Gurel On 3 August, the UK Government announced the launch of the Public Sector Fraud Authority (the Authority), a new body tasked with tackling...
21 Jun, 2022 Know your fraud: specific fraud risk rather than general red flags are needed to invoke the Quincecare duty By Lorna Emson Nikolas Ireland James Reid The Quincecare duty has made the news once again. We recently commented on RBS v JP SPC 4 & another [2022] UKPC 18 and Philipp v Barclays...
23 May, 2022 The limit of Quincecare: Privy Council holds that banks do not owe a tortious duty of care to non-customers By Lorna Emson Nikolas Ireland James Reid In its recent judgment in RBS v JP SPC 4 & another [2022] UKPC 18 the Privy Council has provided an important insight into the scope of...
18 Feb, 2022 UK widens sanctions, potential retaliation by Russia and international regulators urge restraint By David Gauke Francis Bond The crisis at the Russia/Ukraine border continues to provoke reverberations for the global financial sanctions framework, with threats...
10 Feb, 2022 The Economic Crime Bill: reform is coming By Max Hobbs Joe Gaffney We recently commented on a fortnight of fast-paced developments in the economic crime space. As we observed, it appears that (despite...
22 Nov, 2021 Paying the price: UK proposes mandatory rules for banks to compensate fraud victims By Lorna Emson James Reid The UK government has indicated that UK banks will be required to provide refunds to victims of “push payment” fraud (also known as “APP”...
14 Jan, 2021 No expansion of the failure to prevent offence... for now By Max Hobbs FCA-regulated companies have been given a reprieve, as an amendment to the Financial Services Bill 2019–21 (FSB), which would have...
27 Nov, 2020 Tis the season… for online fraud By Helen Harvey Bargain hunters are not the only ones who’ve been looking forward to the Black Friday sales… fraudsters have been getting ready too. The...
21 Oct, 2020 Fraud detection: an increased role for auditors? By Helen Harvey The Financial Reporting Council (FRC), the UK’s accounting regulator, wants to enhance and formalise the role of auditors in identifying...
21 Sep, 2020 Check your privilege By Oli Bowley Nikolas Ireland In a judgment handed down on 11 September in PJSC Tatneft v Bogolyubov & Ors [2020] EWHC 2437 (Comm), Mrs Justice Moulder held that legal...
17 Jul, 2020 High Court Approves G4S Deferred Prosecution Agreement By Francis Bond The High Court has approved the Serious Fraud Office’s (SFO) eighth Deferred Prosecution Agreement (DPA). We blogged earlier this week on...
13 Jul, 2020 The SFO gets agreement in principle for its eighth DPA By Max Hobbs The Serious Fraud Office (SFO) has received approval in principle to enter into a Deferred Prosecution Agreement (DPA) with G4S Care and...
09 Jul, 2020 Furlough fraud: HMRC makes its first arrest By Max Hobbs Her Majesty’s Revenue and Customs (HMRC) has reportedly made its first arrest of a person in connection with suspected furlough fraud....
18 Jun, 2020 Russian courts and the exclusive jurisdiction over sanctions related disputes By Nikolas Ireland Francis Bond On 19 June 2020, amendments to the Arbitrazh Procedure Code come into effect as a result of a new Russian Federal Law No. 171-FZ - known...
10 Jun, 2020 Who knew? Company directors may soon be jointly liable for furlough fraud By Max Hobbs Last week, HMRC announced plans to penalise company directors who intentionally breach the rules of the UK Government’s furlough scheme...
02 Jun, 2020 Freezing injunctions: risk of dissipation or just a bad character? By Nikolas Ireland To obtain a freezing injunction, one of the factors an applicant must prove is that there is a real risk that the respondent will...