Financial crime

Read thoughts from Allen & Overy on financial crime issues in the context of financial services investigations.

FCA annual report 2017/18: Enforcement highlights

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

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Crypto-crime: The new risks of financial crime in the time of cryptoassets

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

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Australian agencies responsible for the enforcement of foreign bribery laws release self-reporting guidelines

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

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Using artificial intelligence to fight financial crime – a legal risk perspective

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

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UK National Economic Crime Centre: a period of stability for UK economic crime, but is it enough?

Christian Parker

In December 2017, the UK Government announced creation of a new National Economic Crime Centre (NECC) as part of the Government’s Anti-Corruption Strategy (ACS). Amber Rudd’s announcement outlined that the UK will introduce a multi-agency NECC, and formalised the UK’s approach to economic crime, in an attempt to ensure the UK maintains its “reputation as Read More

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