We are in the midst of an epidemic of fraud. In one global survey, over 5000 respondents in up to 99 countries were interviewed and nearly 50 percent had been the victim of at least one fraud. On average companies were found to have experienced six frauds in 2020 at a loss of $42 billion*. […]
Over the last decade, reliance on economic sanctions as the spinal cord of western foreign policy has dramatically increased the risks for businesses with an international footprint. The sheer number of countries that now feature in international or domestic sanctions regimes mean that anyone engaging, even indirectly, in any dealings involving such countries faces huge […]
We are pleased to announce that Hannah Laming will be speaking at the IBA webinar on the impact of the European public prosecutor’s office on the fight against corruption, taking place on the 20th of October 2021. The expert panel will be assessing the legislation regarding the European public prosecutor’s office (EPPO) and the current EU […]
Ever since the US-UK extradition treaty was signed in 2003 there have since been heated arguments about whether it is lopsided. One reason may be that US prosecutors are more aggressive in pursuing extra-territorial cases, such as the case against Autonomy founder, Mike Lynch, whose actions took place in the UK but are alleged to […]
Michael O’Kane will be speaking on the RUSI (Royal United Services Institute) Financial Crime Insights podcast on 8th of October 2021. This episode will explore the future trajectory of abuse of the Financial Action Task Force’s (FATF) standards. Listen here.
The edgy relationship between China and the United States and other liberal leaning democracies is undoubtedly the principal drama of this part of the 21st century. In what is an existential, values-based struggle, the main protagonists have locked horns in the sensitive spaces where economic and national security meet. The NATO summit in June 2021 […]
A system designed to tackle the dirty money of drug lords and terrorists, the use of which has been endorsed and encouraged by international bodies and leading nations, has become a favoured tool of state persecution. Those that designed the system must take more muscular responsibility. Introduction Over the last 50 years, from the advent […]
Meng Wanzhou’s extradition hearing in Vancouver has finally come to an end, following more than two years of proceedings which have triggered geopolitical tensions between the U.S, China and Canada. In the next few months, Associate Chief Justice of the British Columbia Supreme Court Heather Holmes will decide whether Meng should be handed over to […]
On 15 July, the Competition and Markets Authority (CMA) found that certain pharmaceutical companies had engaged in conduct, which saw a 10,000% increase in the price of hydrocortisone tablets. Then, on 29 July, the CMA issued an infringement decision in respect of liothyronine tablets, the cost of which went up by 6,000%. These are not […]
The European Banking Authority is consulting on proposed guidelines for anti-money laundering (AML) and counter-terrorist financing (CTF) compliance officers. Anna Bradshaw speaks to Thomson Reuters Regulatory Intelligence on the motivations driving the proposals and how they fit into the EU’s efforts to strengthen the wider AML/CTF framework: “The level of detail in the proposed guidelines […]
