May 20, 2022 The FCA unveils new reporting platform for sanctions breaches By Neill Blundell Francis Bond Georgia O'Connor The Financial Conduct Authority (FCA) has launched a new financial sanctions evasion reporting platform for regulated entities, in a bid...
May 04, 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...
Dec 21, 2020 The Unexplained Wealth Order reigns Supreme: the Supreme Court upholds the first ever UWO By Neill Blundell Max Hobbs The UK Supreme Court has dismissed the final appeal made against the first ever Unexplained Wealth Order (UWO) obtained by the National...
Nov 24, 2020 Record number of money laundering reports submitted in the UK By Neill Blundell Helen Harvey The 2020 Suspicious Activity Report (SAR) Annual Report was published on 19 November, reporting a record number of SARs. SARs must be...
Nov 06, 2020 Corporate criminal liability: Law Commission to examine reform By Francis Bond Neill Blundell The Law Commission will begin a review of the UK’s corporate criminal liability legislation, after the Government instructed the body to...
Oct 08, 2020 The NCA obtains its first forfeiture of property using a UWO By Neill Blundell Max Hobbs On 7 October, the National Crime Agency (NCA) announced that for the first time it has successfully used an Unexplained Wealth Order...
Jul 23, 2020 UK to invest £100m in stronger AML checks through tax on banks By Neill Blundell Francis Bond The UK is set to go ahead with a £100m investment in improving anti-money laundering systems, funded by a “levy” on financial...
Jul 07, 2020 Unexplained Wealth Orders: NCA set to continue use of UWOs despite recent setbacks By Neill Blundell James Reid The National Crime Agency’s (NCA) use of unexplained wealth orders (UWOs) has faced recent high profile defeats in both the High Court...
Jun 19, 2020 U-Double-No: the NCA has been denied the chance to appeal their first UWO defeat By Neill Blundell Max Hobbs In April this year, we commented on the first setback by the National Crime Agency (NCA) in their use of unexplained wealth orders...
Apr 24, 2020 Covid-19 financial crime is a global challenge By Neill Blundell Francis Bond The surge in Covid-19 related financial crime necessitates an urgent international response, a leading banking association has said. We...
Apr 09, 2020 Covid-19: Warning - Cybercrime and fraud are on the rise By Neill Blundell Francis Bond The UK’s top law-enforcement agencies have warned that companies could face increased cybercrime and fraud as a result of the Covid-19...
Apr 09, 2020 UW No – the NCA’s latest UWOs are dismissed in the High Court By Neill Blundell Max Hobbs The National Crime Agency (NCA) has suffered its first major setback in the use of Unexplained Wealth Orders (UWOs), as its attempt to...
Mar 10, 2020 Home is where the UWO is: the NCA obtain a new suite of high-value UWOs By Neill Blundell Max Hobbs Hot off the heels of their success in the Court of Appeal, upholding the first unexplained wealth order (UWO) obtained in the UK, it is...
Feb 06, 2020 Explain yourself: the Court of Appeal rejects the challenge to the first UWO By Neill Blundell Max Hobbs The Court of Appeal has dismissed the appeal against the first Unexplained Wealth Order (UWO) issued in the UK, potentially paving the...
Dec 13, 2019 No need to explain: The Court of Appeal hears a challenge to the first UWOs By Neill Blundell Max Hobbs The wife of the former chairman of the international bank of Azerbaijan has been in the Court of Appeal challenging the unexplained...
Nov 21, 2019 The NCA successfully resists the first appeal against one of its Account Forfeiture Orders By Neill Blundell Max Hobbs On 8 November 2019 the National Crime Agency (NCA) successfully defended its first contested application for Account Forfeiture Orders...