Corruption around the world in 2020

FinCEN Files – Increased Pressure on the Banks Regarding AML Controls

Fulcrum’s 60 Second Brief on the Latest Financial Crime Scandal to be Broken by the ICIJ

What are the FinCEN files?

The FinCEN files comprise more than 2,500 documents, representing some of…

The UK’s Serious Fraud Office brings charges against GPT Special Project...

Introduction

On 30 July 2020, the Serious Fraud Office (“SFO”) announced charges against Riyadh-based subsidiary of Airbus SE (“Airbus”), GPT Special Project Management Limited…

Online fast fashion retailer cries “Boohoo”

Boohoo stocks plummeted 14.5% earlier this month after it emerged that the fast fashion retailer allegedly continued to operate in contravention to localized coronavirus lockdowns, and apparently…

HMRC investigation of furlough fraud scheme results in first arrest

The Covid-19 pandemic has brought with it a number of challenges throughout the world, including a new type of criminal activity in the UK, Coronavirus Job Retention Scheme Fraud known more…

FCA Fines Commerzbank over AML failures – what is the lesson?

FCA Fines Commerzbank over AML failures – what is the lesson?

Introduction

On 17 June 2020, the Financial Conduct Authority (“FCA”) published a final notice (the “Notice”) imposing a…

HMRC is looking at furlough fraud and company directors may be jointly...

More than one in four UK employees (approximately 9.1 million people) are currently furloughed under the Government’s Coronavirus Job Retention Scheme (the “Scheme”), at a cost of almost…

Is your Compliance Programme effective in practice?

On Monday, 1 June 2020, the U.S. Department of Justice (“DoJ”), published an updated version of their guidance on Evaluating Corporate Compliance Programs (the “DoJ Guidance”) which reflects…

The conduct of ongoing criminal investigations during the Coronavirus...

The Coronavirus (COVID-19) pandemic poses an unprecedented challenge for the criminal justice system in England and Wales. In particular, COVID-19 is having a noticeable impact on UK enforcement…

Standard Chartered fined £20.5m for breach of EU sanctions against Russia

Corporate Crime analysis: Ed Pearson, solicitor, and Lucia Cabello, a Spanish-qualified lawyer, both of Fulcrum Chambers, consider the decision of the Office of Financial Sanctions Implementation…

Increased FCA scrutiny placed on Authorised Corporate Directors

The Financial Conduct Authority (“FCA”) has launched a review of the role of authorised corporate directors (“ACDs”) after widespread scrutiny of the service providers following the Woodford…

Cryptoassets: The Property of the Future

Introduction

A month on from the implementation of the European Union’s Fifth Money Laundering Directive (EU) 2018/843 (the “5MLD”)[1] which placed cryptoassets under the supervision of the…

Update: match fixing rearing its ugly head again

Introduction:

It is nearly ten years since the match fixing scandal involving Salman Butt, Mohammad Asif and Mohammad Amir stunned the cricket world.[1] It therefore comes with great sadness to…

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