Category Archives: Business crime & fraud

The dawn of the SFO supergrass?

Lisa Osofsky’s appointment as the new Director of the SFO has been heralded as a turning point.  With a “different kind of Director”[1] came the promise of new ideas, attitudes and ways of working, not least the use of “flipped defendants, who later become witnesses.”[2] This formed a staple of the Director’s previous tenure as […]

Is AML Playing Catch-Up To Bribery?

Recently released reports on the Bribery Act 2010 and by the Office for Professional Body Anti-Money Laundering Supervision (‘OPBAS’) have given contrasting assessments of the performance of two keystones in the fight against financial crime and corruption. Overall, the House of Lords Bribery Act 2010 Committee’s post-legislative scrutiny report published last month (14 March) gives […]

Andrew Smith comments on KBR losing the fight over extraterritorial application of SFO section 2 notices in GIR

A high court judge has confirmed that the SFO can compel foreign companies to hand over documents held overseas as long as a “sufficient connection” between the company and the UK exists. In a ruling on 6 September, Lord Justice Peter Gross and Mr Justice Duncan Ouseley at the High Court of England and Wales […]

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 […]

David Corker comments on the delayed appointment of the SFO’s new director in The Times and The Times Law Brief

The appointment of Lisa Osofsky as the new director of the Serious Fraud Office (SFO) has been held up for almost six weeks as security agencies conduct enhanced vetting of the American lawyer. The Times says the consensus view is that a significant glitch has cropped up in the vetting process for Ms Osofsky, which is simply […]