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Corporate Crime & Compliance UK
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July 14, 2025
UAE Prisoner Voluntarily Drops Suit Against Ex-Dechert GC
A Jordanian lawyer imprisoned in the United Arab Emirates has permanently dropped a Philadelphia civil suit seeking discovery against Dechert LLP's former general counsel in the U.S. over what the law firm's leadership knew of alleged human rights abuses committed by a former partner.
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July 14, 2025
Insurance Co. Accuses Ex-CEO Of Siphoning £19M At Trial
An insurance company accused its former chief executive and a director at the start of a London trial on Monday of misappropriating millions of pounds by siphoning money from the business for his own financial benefit.
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July 14, 2025
Solicitor Sues Law Firm £423K For Misusing Estate Proceeds
The solicitor for a deceased individual's estate has sued a law firm for £423,000 ($568,000), accusing it of using money from the sale of a house from the estate to carry out sham property purchases.
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July 14, 2025
SFO Still Yet To Use Power To Freeze Crypto Wallets
The Serious Fraud Office has not pursued any crypto wallet freezing or forfeiture orders since their introduction over a year ago, according to an information request disclosed Monday, a month after the government pledged more in funds for the agency to invest in its investigatory capabilities.
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July 14, 2025
Lender Denies Helping Pharma Boss Secure Secret £6M Loan
A business lender has denied working with the now-former chief executive officer of an online pharmacy to take out about £6.1 million ($8.2 million) in unauthorized loans under the company's name without the knowledge of investors or board members.
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July 14, 2025
Deezer Sues For €12M Over Hacked Data Sold On Dark Web
Deezer has hit a marketing software business with a claim of almost €12 million ($14 million) at a London court, alleging that the technology company negligently handled users' data that was eventually hacked and sold on the dark web.
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July 11, 2025
Wine Exec Extradited From UK Denies $99M Fraud Scheme
One of two executives of a United Kingdom wine company was extradited to the U.S. and pled not guilty on Friday in Brooklyn federal court to charges that he conned investors into making loans using wine collections as collateral, cheating them out of $99 million.
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July 11, 2025
Celebs Cannot Use Pattern To Prove Mail Claims, Judge Says
A London judge ruled Friday that celebrities suing the publisher of the U.K.'s Daily Mail newspaper for allegedly gathering information about them through unlawful methods cannot prove their individual claims by showing the company's journalists used those methods habitually.
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July 11, 2025
Entrepreneur Sues Rights Advocate Over $1B Corruption Claim
The owner of a green economy investment company has alleged that a human rights advocate defamed the owner in an article that claimed he used his companies to embezzle more than $1 billion into offshore accounts and had bribed high-profile U.S. officials.
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July 11, 2025
Deceased Financiers' Assets Tapped To Cover Thai Bank Debt
The liquidators of a collapsed Thai lender can be paid from the English assets of two deceased financiers convicted over an embezzlement scheme, after a judge held Friday the funds can go to partially cover a judgment debt totaling £60 million ($81 million).
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July 11, 2025
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen HS2 hit with a defamation claim by two ex-employees who blew the whistle on alleged under-reporting of costs, Craig Wright and nChain face legal action brought by its former chief financial officer over a fraud scheme, and pro-footballer Axel Tuanzebe bring a clinical negligence claim against his former club Manchester United F.C. Here, Law360 looks at these and other new claims in the U.K.
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July 11, 2025
UK Election Gambling Cheating Trials Fixed For 2027, 2028
A London criminal judge on Friday told defendants charged with gambling offenses over bets on the timing of the previous U.K. general election on Friday that they will have to wait until 2027 at the earliest for their trials.
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July 11, 2025
Ex-Insurance CEO's Wife Can't Ax £15M Asset Freeze
A London appeals court upheld a £15 million ($20.3 million) asset freeze on Friday against the wife of a former insurance company executive who is accused of cashing in on money her husband siphoned off from the business.
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July 11, 2025
Staley Tribunal Decision Could Fuel Challenges To FCA Fines
A landmark tribunal ruling that upheld the Financial Conduct Authority's ban of ex-Barclays CEO James "Jes" Staley from banking — but slashed his fine — could ultimately lead other executives with back-loaded pay packages to fight the watchdog's decisions, lawyers say.
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July 10, 2025
Russian Banker Inks Sanctions DPA After FBI Botches Warrant
The founder of Bank Otkritie on Thursday secured a deferred prosecution agreement with Manhattan federal prosecutors to resolve allegations of assisting the head of Russian state-backed lender VTB Bank in evading U.S. sanctions, just a month after a swath of email evidence was thrown out over a botched FBI search warrant.
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July 10, 2025
Ninth Person Convicted In €2.3M German VAT Fraud
A German court has convicted the ninth individual linked with a €2.3 million ($2.7 million) value-added tax fraud scheme involving international trade of cars, European Union prosecutors announced Thursday.
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July 10, 2025
14 Arrested Over Suspected Phishing-Tied Tax Fraud Scheme
Fourteen people have been arrested as part of an international investigation into a large-scale tax fraud operation that used personal data stolen in phishing attacks, the U.K. tax authority announced on Thursday.
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July 10, 2025
Rusal Can Serve Claim On Abramovich Via Oligarch's Lawyers
A London judge on Thursday approved Russian aluminum giant Rusal to serve a claim on Russian oligarch Roman Abramovich via his lawyers over alleged breaches of an agreement setting out the governance of a Russian mining company.
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July 10, 2025
Four Arrested Over Cyberattacks On M&S, Co-Op and Harrods
The National Crime Agency arrested four people on Thursday for their suspected involvement in cyberattacks that targeted retail giants Marks & Spencer, the Co-op and Harrods.
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July 10, 2025
UK Watchdog Investigating Deloitte, Azets Over Stenn Audits
The U.K. accounting watchdog said Thursday it has started investigations into accounting firms Azets Audit Services Ltd. and Deloitte LLP over their audit of U.K. invoice financing firm Stenn Assets, which collapsed in 2024 after a lender found suspicious transactions.
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July 10, 2025
Signature Hires 2 Pros For New White Collar Crime Practice
Signature Litigation LLP said Thursday that it has hired two new partners from Goodwin Procter LLP and Cadwalader Wickersham & Taft LLP in London to spearhead the launch of a new global white collar crime practice.
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July 10, 2025
EU Prosecutors Detain 8 Individuals In €68M VAT Fraud Probe
European Union prosecutors revealed Thursday that they have detained eight people in Spain for their alleged involvement in a €68 million ($80 million) value-added tax fraud linked to alcohol imported from other member states.
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July 10, 2025
Housebuilders To Pay £100M After CMA Info-Sharing Probe
A group of housing developers has agreed to pay a record £100 million ($136 million) to build affordable homes after an investigation into suspected illegal information sharing by Britain's competition watchdog.
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July 09, 2025
OFAC Fines Tech Co. $1.4M Over Iran Sanctions Violations
Harman International Industries Inc. has agreed to pay more than $1.4 million to settle allegations from the U.S. Department of the Treasury's trade sanctions enforcement arm that various compliance deficiencies at the audio electronics company contributed to Iran sanctions violations.
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July 09, 2025
Sweden Wins €60M Pension Fraud Case Against Financier
A London court has ruled that a financier defrauded the Swedish government by setting up an illegitimate investment fund that took €60.7 million ($71.1 million) from savers' pension accounts.
Expert Analysis
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Google Win Illustrates Hurdles To Mass Data Privacy Claims
The Court of Appeal's December decision in Prismall v. Google, holding each claimant in a mass data privacy suit must demonstrate an individualized and sufficiently serious injury, demonstrates the difficulty of using representative action to collect damages for misused private information, say lawyers at Seladore Legal.
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What To Know About FCA's UK Listing Rules Proposal
A recent consultation paper from the Financial Conduct Authority aims to streamline the securities-listing process for U.K.-regulated markets, including by allowing issuers to submit a single application for all securities of the same class, and aligning the disclosure standards for low-denomination and wholesale bonds, say lawyers at Debevoise.
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Opinion
UK Gov't Needs To Take Action To Support Whistleblowing Bill
With a proposed Office of the Whistleblower Bill making its way through the U.K. Parliament, whistleblowing is starting to receive the attention it deserves, but the key to unlocking real change is for the government to take ownership of reform proposals and appoint an overarching whistleblowing champion, says Baroness Susan Kramer at the House of Lords.
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Issues To Watch At ABA's Antitrust Spring Meeting
Attorneys at Freshfields consider the future of antitrust law and competition enforcement amid agency leadership changes and other emerging developments likely to dominate discussion at the American Bar Association's Antitrust Spring Meeting this week.
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New UK Short Selling Rules Diverge From EU Regs
Although forthcoming changes to the U.K.’s short selling regulatory regime represent a welcome relaxation of restrictions and simplification of reporting processes, participants active in both the U.K. and EU markets will need to ensure compliance with two quite different sets of rules, says Ezra Zahabi at Akin.
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How New EU Product Liability Directive Will Affect Tech And AI
While the European Union’s new defective product liability directive, effective from December 2026, primarily provides clarifications rather than significant changes, it reflects the EU's commitment to addressing consumer protection and accountability challenges presented by the digital economy and artificial intelligence, say lawyers at Latham.
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What Latest FCA Portfolio Letter Means For Payments Firms
Charlotte Hill at Charles Russell discusses the Financial Conduct Authority’s recent portfolio letter to CEOs of payments firms, outlining the regulator’s expectations, and the steps that these companies may now need to take to ensure compliance and operational effectiveness.
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ECB Guide Targets Harmonized Cyber Testing Approach
The European Central Bank’s recently updated guidance for testing organizational resilience against sophisticated cyberattacks is a significant step forward, highlighting the importance of a unified approach to financial sector cybersecurity and alignment with Digital Operational Resilience Act requirements, say Simon Onyons and Nebu Varghese at FTI Consulting.
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Court Backlog Could Alter Work Safety Enforcement Priorities
While criminal prosecution remains the default course of action following the most serious workplace accidents, a record backlog of cases in the crown courts in England and Wales and safety regulators’ recognition of the need for change may allow for a more discerning approach, say lawyers at BCL Solicitors.
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New CMA Powers Will Change Consumer Protection Regime
The Competition and Markets Authority’s imminent broadened powers to impose penalties on organizations for unethical or misleading practices are likely to transform the U.K.’s consumer protection regime, and may lead to a rise in private litigation and increased regulatory scrutiny, say lawyers at Morgan Lewis.
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Opinion
Prospects For New Fraud Prevention Prosecution Look Slim
With the Labour Party's inherited patchwork of Conservative Party corporate crime legislation for preventing fraud and corruption, the forthcoming Economic Crime Act’s failure to prevent fraud offense is unlikely to be successful in assisting prosecutors bring companies to justice, says Matthew Cowie at Rahman Ravelli.
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What's Next After FCA Drops Troubled 'Name And Shame' Plan
A closer look at the Financial Conduct Authority's recent decision to toss its widely unpopular proposal changing the test for announcing enforcement investigations may reveal how we got here, why the regulator changed course, and where it’s headed next, say lawyers at Hogan Lovells.
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What To Note In EU Tech Transfer Agreements Consultation
Robert Klotz at Steptoe explains the European Commission’s main contemplated amendments to a regulation that exempts certain technology transfer agreements from European Union restrictions, the current political context around the ongoing reform, and as its potential consequences for businesses.
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UK Refusal Of US Extradition Request May Set New Standard
The recent U.K. Supreme Court ruling in El-Khouri v. U.S., denying a U.S. extradition request, overturns a long-held precedent and narrows how U.K. courts must decide such requests, potentially signaling a broader reevaluation of U.K. extradition law, say lawyers at Dechert and Kingsley Napley.
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Insights On ESMA's Alternative Investment Fund Consultation
Aaron Mulcahy at Maples Group discusses key points from the European Securities and Markets Authority’s recent consultation on open-ended loan-originating alternative investment funds, highlighting the growth in semi-liquid evergreen funds and explaining ESMA’s proposed standards.