Category Archives: Asset Forfeiture

Edward Grange comments on the SFO’s decision to end its investigations into GSK and Rolls-Royce in GIR

The SFO’s new director has scrapped a bribery investigation into GlaxoSmithKline and decided against pursuing individuals linked to the agency’s landmark Rolls-Royce bribery case. Ending long-running speculation from within the London white-collar community, the UK Serious Fraud Office (SFO) released a statement on 22 February announcing that the prosecution of individuals tied to a bribery scheme allegedly […]

Claire Cross comments on the FCA’s first decision notice against former CEO of Sonali Bank UK in GIR

The former CEO of Sonali Bank UK is contesting an FCA decision to fine him £76,400 for allegedly failing to take reasonable steps to assess and mitigate anti-money laundering risks. The FCA published a decision notice against Mohammed Ataur Rahman Prodhan on 4 December, alleging that the former CEO failed to ensure that sufficient focus was given to the UK subsidiary […]

Jessica Parker comments on the growing pressure to clamp down on money laundering in the IBA

While it’s been a favoured destination for affluent Russians and their wealth for some time, Global Insight assesses the sudden and growing pressure to keep this source of dirty money out of the City. In May, a report by the UK House of Commons’ Foreign Affairs Committee – entitled Moscow’s Gold: Russian Corruption in the […]

Peter Binning and David Corker comment on a £300m court for fraud, cybercrime and economic crime cases in New Law Journal, CDR and The Law Society Gazette

London to get new ‘state-of-the-art’ £3oom court for fraud, cybercrime and economic crime cases. The flagship 18-courtroom legal centre will also deal with business and property work as well as civil cases. It will replace the Mayor’s and City of London County Court, and City of London Magistrates’ Court, and will include a new City of […]

David Corker comments on the Law Commission’s recommendations to reform search warrant laws in Global Investigations Review

“London-based lawyers have welcomed the Law Commission’s recommendations to modernise and streamline search warrant law in England and Wales, but said that some proposals need further refining. “There are 175 different statutory provisions governing the law on search warrants in England and Wales, and lawyers have welcomed a commission proposal to place all existing provisions […]

Andrew Smith comments on anti-money laundering measures and FinTech in KYC360

UK anti-money laundering (AML) – Hot topics for 2018 The past 12 months ushered in key reforms, including the Fourth Anti-Money Laundering Directive, the UK’s designs for its own AML and sanctions legislation post-Brexit, a shake-up of main financial crime bodies such as the Serious Fraud Office and its new relationship with the National Crime […]

Jessica Parker comments on UK fraud hitting a 15-year high in Bloomberg and Insurance Journal

UK fraud reports hit 15-year high as evidence work delays cops Fraud in the UK rose to 2.1 billion pounds ($2.9 billion), the most in 15 years, as the police commander in charge of fighting the crime said the amount of evidence was setting back investigations. David Clark, the police officer who heads the UK’s […]