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Jul 31, 2024 | 
mondaq.com | Helen Harvey |Lorna Emson |Max Hobbs |Freddy Rendall
We recently commented on the apparent emergence
of the National Crime Agency (NCA) as the "new sheriff in
town" in the field of financial crime. This came after the NCA
successfully prosecuted two individuals for bribery offences,
something the Serious Fraud Office (SFO) has historically faced
difficulties with, and new legislation was passed that empowered
the NCA to instruct the SFO to conduct certain investigations.
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Jul 23, 2024 | 
mondaq.com | Max Hobbs |Helen Harvey
At the end of June, the Court of Appeal handed down judgment in
the case of R (oao World Uyghur Congress) v NCA [2024]
EWCA Civ 715.
The Court of Appeal has clarified the operation of certain parts
of the UK's Proceeds of Crime Act 2002 (POCA) and the approach
the UK authorities should take to money laundering investigations. The judgment is important for a number of reasons.
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May 20, 2024 | 
blog.macfarlanes.com | Lorna Emson |Max Hobbs |Helen Harvey
Last Friday, we commented that the National Crime Agency (NCA) perhaps deserved more attention for its growing role investigating and prosecuting serious financial crime. Later that day, in a timely announcement, the NCA confirmed it had secured its first unexplained wealth order (UWO) in Northern Ireland.
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May 20, 2024 | 
lexology.com | Lorna Emson |Max Hobbs |Helen Harvey
Last Friday, we commented that the National Crime Agency (NCA) perhaps deserved more attention for its growing role investigating and prosecuting serious financial crime. Later that day, in a timely announcement, the NCA confirmed it had secured its first unexplained wealth order (UWO) in Northern Ireland.
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May 17, 2024 | 
blog.macfarlanes.com | Lorna Emson |Max Hobbs |Helen Harvey
Last Friday, 10 May 2024, was a significant day for the National Crime Agency (NCA). It secured combined custodial sentences of five years and nine months for two individuals convicted of bribery offences and new legislation came into effect which empowers the NCA to instruct the Serious Fraud Office (SFO) to conduct certain investigations.
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Apr 23, 2024 | 
blog.macfarlanes.com | Lorna Emson |Max Hobbs |Helen Harvey |Freddy Rendall
Last week, the Serious Fraud Office (SFO) published its new strategy for 2024-2029. This identifies four strategic outcomes, by reference to which the SFO articulates various “outputs” that it wants to achieve.
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Apr 12, 2024 | 
blog.macfarlanes.com | Lorna Emson |Max Hobbs |Helen Harvey |Freddy Rendall
On 4 April 2024, the Gambling Commission (the Commission) announced the imposition of a £582,120 fine on a major UK gambling company for its failure to comply with anti-money laundering (AML), sanctions and other social responsibility obligations. The fine was issued following a compliance assessment carried out by the Commission in March 2022.
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Apr 12, 2024 | 
lexology.com | Lorna Emson |Max Hobbs |Helen Harvey |Freddy Rendall
On 4 April 2024, the Gambling Commission (the Commission) announced the imposition of a £582,120 fine on a major UK gambling company for its failure to comply with anti-money laundering (AML), sanctions and other social responsibility obligations. The fine was issued following a compliance assessment carried out by the Commission in March 2022.
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Apr 3, 2024 | 
blog.macfarlanes.com | Lorna Emson |Max Hobbs |Freddy Rendall
On 28 March 2024, the UK Financial Intelligence Unit (UKFIU) of the National Crime Agency published its annual statistical report covering April 2022 – March 2023 (the Report). This sets out a number of interesting statistics relating to the UK’s Suspicious Activity Reports (SARs) regime. The Report highlights a 5% fall in the total number of SARs received by the UKFIU, down from 901,255 last year to 859,000.
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Mar 6, 2024 | 
blog.macfarlanes.com | Lorna Emson |Max Hobbs |Helen Harvey
The Financial Conduct Authority (FCA) wrote a letter on 5 March 2024 to the Chief Executive Officers (CEOs) of “Annex 1” firms. These are firms that undertake specific financial activities and are therefore supervised by the FCA for compliance with the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (the MLRs).
