In a webinar hosted by Global Legal Group, Keith Oliver discussed the evolving fraud risk landscape, including the UK’s new failure to prevent fraud offence, and considered how organisations can prepare for, respond to and recover from fraud incidents. Keith spoke about the importance of taking early, coordinated action when fraud is suspected, focusing […]
In March, the UK government released its Green Finance Strategy, setting out plans to attract investment to help achieve the country’s net zero ambitions. Then, a month later, the National Fraud Strategy came out, revealing that fraud is “by far” the UK’s most common crime, representing 40% of offences in England and Wales. However, no […]
The Financial Conduct Authority (FCA) has fined ED&F Man Capital Markets Ltd (MCM) over £17.2 million ‘for serious failings in its oversight of cum-ex trading’. The FCA said that these failings allowed the broker to collect fees for trading strategies designed to enable clients to reclaim tax illegitimately from the Danish authorities. According to the […]
Head of International Keith Oliver and Legal Researcher Caroline Timoney have recently been published in CDR: Essential Intelligence – Fraud, Asset Tracing & Recovery 2023. Their chapter, an overview of the latest in the regulatory landscape in England & Wales, provides expertise for practitioners and laypersons alike as it explores the current legal framework underpinning […]
Last week, the Home Office tabled an amendment to the Economic Crime and Corporate Transparency Bill, setting out a failure to prevent fraud offence. According to the Home Office, this new offence is meant to “make it easier to prosecute a large organisation if an employee commits fraud for the organisation’s benefit” and “allow prosecutors […]
The Skatteforvaltningen (the Danish Customs and Tax Administration) (SKAT) litigation, by which the Danish tax authorities have been pursuing very extensive claims of alleged tax fraud, is one of the most significant currently before the English court. It has produced scores of judgments of varying usefulness to those engaged in more constrained proceedings. Notwithstanding the […]
The Quincecare duty, which requires financial institutions not to execute customers’ orders if they have been made aware that these are part of a fraud, has gained prominence recently as upcoming legal challenges threaten to increase banks’ responsibilities in the context of increasingly sophisticated fraud. In this article for The Banker, Paul Johnson and David […]
The monthly insolvency statistics for October 2022 (published by the Insolvency Service in November) show that corporate insolvencies have risen 38% from the same month in the previous year and are 32% higher than pre-pandemic. Insolvency practitioners, lawyers and advisers are therefore gearing up for further rises in insolvencies as the economic climate is expected […]
Head of Business Crime Nick Vamos was interviewed for Legal Business’ Life During Law column. Nick spoke about how he ended up following his mum’s and future wife’s advice to pursue a career as a barrister, how things progressed from there and why he does not believe in planning his career too much. After leaving […]
At the start of the new year, an unfortunate and dispiriting reality is starting to dawn: 2022 was the UK’s ‘Year of Fraud’. From headlines of the UK government having lost £16 billion to Covid 19 fraud, to the shocking truth that only one in every 1,000 criminal complaints for fraud results in a conviction, […]
