For the financial services industry, remote working meant that financial institutions suddenly had to adapt their oversight systems, and ensure that market abuse, anti-fraud, data privacy and conduct regulations were all adhered to. Neil Swift says that the problems faced by companies must not be underestimated. He adds, the priority has to be ensuring that […]
In February the Supreme Court handed down judgment in R (on the application of KBR, Inc) v Director of the Serious Fraud Office, in which it unanimously reversed a 2018 High Court ruling on the territorial scope of section 2(3) of the Criminal Justice Act 1987. Section 2(3) empowers the SFO director to issue a notice […]
NFTs (Non-Fungible Tokens) are a new kind of digital asset that operate on blockchain. Most NFTs run on the Ethereum blockchain but are not themselves Ether. The concept of non-fungibility is important to distinguish their function in that fungible tokens like Bitcoin or Ether can be exchanged like-for-like. Read more
The CPS’s Economic Crime Strategy 2025, the first of its sort, was introduced to combat what the CPS refers to as ‘a serious and growing area of criminality’. The number of fraud and forgery cases dealt with by the CPS has risen by almost a third since 2011. The CPS estimates that there are 800,000 […]
“The strange thing about this current economic climate is that no one knows if we will go into a recession or not”, says Keith Oliver. “The last recession followed a strong bull market, but this time around it’s different. There is pent-up demand and lots of cheap assets. If we do see more fraud come […]
We are delighted to announce that Keith Oliver and Amalia Neenan have authored a chapter in the latest CDR Essential Intelligence – Fraud, Asset Tracing & Recovery 2021 publication. Keith also served as the Contributing Editor for the 2021 edition. Due to the worldwide economic downturn in the wake of Covid-19, the threat of fraud […]
The pervasiveness of social media has complicated the application of contempt of court rules. P&P expert Anna Bradshaw says, “the pitfalls are many. The biggest issue is that so few people appear to be aware of them. It is something that you would expect journalists to be familiar with but perhaps not all other users […]
UWOs are very effective in assisting the authorities to discover the source of income used to acquire property or to identify an ultimate beneficial owner, especially those in offshore structures according to P&P expert Rachel Cook. She says, “whatever their limits, for those faced with UWOs, it will have been a worrying, time-consuming and expensive […]
The Covid-19 crisis has created a fertile environment for corruption and fraud. At the outset, concerns centred on the risks posed by fraudsters seeking to profit from the financial shock of the pandemic. Those fears proved well founded – in March 2020, fraud reports rose by 400%. Over time, concern spread to suspected abuse of […]
P&P lawyers Philip Gardner and Stephanie Lloyd have co-authored an article in Litigation Futures about the contrasting approaches in litigation and arbitration to identifying dispute funders. They review recent changes to the International Chamber of Commerce (ICC) Arbitration Rules and the different approaches taken to disputes funding in major arbitral centres and the English Court. Read […]
