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...
13 Jun 2022 Corporate criminal liability: ten options for reform By Neill Blundell Helen Harvey Max Hobbs The UK’s Law Commission has published its options paper for reform of corporate criminal liability. This much-anticipated report sets out...
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...
04 May 2022 The Chancellor announces a £25 million “fraud squad” to recover £5 billion By Lorna Emson Max Hobbs Georgia O'Connor The Chancellor, Rishi Sunak, has announced a new “fraud squad” to recover money stolen from the state-backed Covid Bounce Back Loan...
18 Feb 2022 UK widens sanctions, potential retaliation by Russia and international regulators urge restraint By Neill Blundell David Gauke Francis Bond The crisis at the Russia/Ukraine border continues to provoke reverberations for the global financial sanctions framework, with threats...
14 Feb 2022 The big freeze on crypto-assets: HMRC seizes its first ever NFT By Neill Blundell James Reid HM Revenue & Customs (HMRC) has announced its first ever seizure of Non-Fungible Tokens (NFTs) as part of a £1.4m VAT fraud...
14 Feb 2022 Fighting economic crime in the UK: an overview By Neill Blundell Max Hobbs Joe Gaffney On Thursday 10 February, the House of Commons Library published a briefing paper on economic crime in the UK, which summarises recent...
10 Feb 2022 The Economic Crime Bill: reform is coming By Neill Blundell 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...
02 Feb 2022 Economic crime in the UK: What is going on? By Neill Blundell Max Hobbs Francis Bond There have been so many developments in the realm of “economic crime” in the last two weeks that it has been hard to keep up.To summarise...
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”...
31 Aug 2021 English courts confirm extensive remedies available for victims of cryptocurrency fraud By Emma Cohen James Popperwell Nikolas Ireland As the use of cryptocurrencies by investors continues to grow so too does the opportunity for fraud in the cryptocurrency sector. In the...
01 Apr 2021 CPS announces landmark economic crime strategy, including new dedicated court By Neill Blundell Adam Fieldgate The Crown Prosecution Service (CPS) has launched its first ever comprehensive strategy to combat economic crime. This announcement is...
21 Jan 2021 Big fraud: FCA proposes regulation of tech giants in relation to financial scams By Neill Blundell James Reid Lorna Emson On Monday the Financial Conduct Authority (FCA) released its review of consumer investments data for 2020 (the Review). In the Review the...
14 Jan 2021 No expansion of the failure to prevent offence... for now By Neill Blundell 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 Neill Blundell 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 Neill Blundell Helen Harvey The Financial Reporting Council (FRC), the UK’s accounting regulator, wants to enhance and formalise the role of auditors in identifying...