Financial crime
Read thoughts from Allen & Overy on financial crime issues in the context of financial services investigations.
Second Circuit Narrows FCPA’s Reach Yet Enforcement Risk Remains
04 September 2018 - Melinda Bothe
The Second Circuit recently ruled that the general criminal statutes of conspiracy and complicity cannot be used to draw non-U.S. persons or companies within the jurisdiction of the Foreign Corrupt Practices Act (the FCPA) where their conduct would not otherwise fall within the statute’s ambit. That is, prosecutions under the FCPA cannot be brought against › Read More
FCA annual report 2017/18: Enforcement highlights
20 July 2018 - Sarah Hitchins
Yesterday afternoon the UK Financial Conduct Authority (the FCA) published its Annual Report. Alongside the Annual Report, the FCA also published its usual Enforcement Annual Performance Report (the Report), which sets out an overview of the FCA’s enforcement activities during 2017/18. Set out below are some of the key points highlighted by the Report. › Read More
Crypto-crime: The new risks of financial crime in the time of cryptoassets
13 June 2018 - Vincent Liu
The UK Financial Conduct Authority (the FCA) has turned its attention to the prospective criminal dangers of cryptoassets in a letter addressed to the CEOs of the banking industry. This letter follows the FCA’s response to a freedom of information request in May that revealed the financial regulator is investigating 24 businesses that deal with › Read More
21 February 2018 - Edward Einfeld
The Australian Federal Police (AFP) and the Commonwealth Director of Public Prosecutions (CDPP), the Australian government agencies responsible for investigating and prosecuting foreign bribery, have recently released joint best practice guidelines that indicate how they will approach self-reporting of foreign bribery and related offences by corporations (the Guidelines). The Guidelines seek to provide greater clarity › Read More
Using artificial intelligence to fight financial crime – a legal risk perspective
14 February 2018 - Ian Rodgers
The Head of the Financial Crime Department at the UK Financial Conduct Authority (the FCA), Rob Gruppetta, gave a speech on “Using artificial intelligence to keep criminal funds out of the financial system” in December 2017. In it, he explored how artificial intelligence (AI) could potentially be used to prevent financial crime, and for anti-money › Read More