Partner Anna Bradshaw comments on the fine imposed in 2019 on Standard Chartered Bank by the Financial Conduct Authority (FCA) for breaches in connection with its UK correspondent banking operation and governance of foreign branches. Her quotes are included in an annual survey of anti-money laundering and sanctions enforcement by MoneyLaundering.com, a publication of the Association of […]
The idea of criminalising corporates for ‘failing to prevent’ financial misfeasance has, in recent years, been put forward as a cure-all for tackling economic crime; however, it remains unclear whether such an approach would be viable, or indeed desirable, in the context of market abuse. Careful consideration needs to be given to the existing FTP […]
Financial crime is one of the biggest threats facing the global economy. The 2019 Crime Survey for England & Wales indicated that 3,863,000 fraud offences were committed last year alone, with a high number of cases also unreported. The sheer volume presents law enforcement authorities with an impossible burden were they to investigate and prosecute every offence. […]
In 2015, Bill Gates gave a Ted Talk on the biggest threat to the human population. Not a war. But a virus. Today, we live out this prediction. In 2018, Bill Gates’ company, Microsoft, was the first tech giant to warn of another threat to our way of life: facial recognition technology. Without proper regulation, […]
A recent survey of legal clients has revealed that boutique and specialist firms are outperforming the larger firms on a range of criteria including lawyer/team quality; sector/industry knowledge; and billing and efficiency, as well as consistency of client feedback. One client said about Peters & Peters, ” their advice is practical, creative and informed by […]
Litigation funding – when a third party finances a law suit in exchange for a slice of the proceeds if the case is won or settled – was thrown into the spotlight last year. Thanks to the accounting practices of one of its biggest players, Burford Capital, it has been exposed to high-profile adverse publicity. […]
Partner Anna Bradshaw comments in the Global Investigations Review (GIR) on the civil monetary penalties imposed on Standard Chartered Bank by the UK Office of Financial Sanctions Implementation (OFSI), noting that the substantial reduction in the penalty amounts at the ministerial review stage are comparable to those seen in previous enforcement action and querying what […]
Read more
Corporates are undoubtedly versed in complying with anti-money laundering regulations but increasingly Unexplained Wealth Orders (UWOs) should be on our radar too. With the ability to pierce the corporate veil and their powerful extra territorial reach, UWOs should be taken very seriously. Read more
Partner Anna Bradshaw speaks to MoneyLaundering.Com about the civil monetary penalties in excess of £20m imposed by the United Kingdom’s sanctions enforcer, the Office of Financial Sanctions Implementation (OFSI), on Standard Chartered Bank for ‘most serious’ violations of EU financial sanctions against Russia. Read more
