Criminal Law Blog

17 January 2019

FCA sharpens focus on crypto cowboys

The recent confirmation by the UK Financial Conduct Authority (FCA) that it is investigating 18 firms involved in the sale of crypto assets, such as Bitcoin, indicates a ramping up of regulatory focus on the controversial sector.

Jill Lorimer

15 January 2019

Diamonds are (not) forever: NCA keeps up pressure on unexplained wealth

Further developments in the first (so-called) “McMafia” case (see my related blog Media focus on first 'McMafia law' challenge) were reported yesterday when the National Crime Agency (NCA) secured the seizure of a “high value Cartier diamond ring”.

Ed Smyth

15 January 2019

Working in partnership: a new public/private approach to tackle economic crime

2018 saw a major drive across government to tackling illicit finance and economic crime on the basis that “corruption and economic crime undermines our economy, damages our international reputation and communities.” (December 2018 Anti-Corruption Strategy 2017-20 1 Year Update” see our related blog.   Key initiatives included the launch of the National Economic Crime Centre (November 2018 see our related blog) and the Serious and Organised Crime Strategy (November 2018).

Jonathan Grimes

15 January 2019

Tackling economic crime 2018-19

At the end of 2018 the Government published its “ 1 Year Update” of the Anti-Corruption Strategy 2017-20 (“the Update”).  This report set out that “corruption and economic crime undermines our economy, damages our international reputation and communities.” It concludes that the Government’s “commitment and effectiveness” in this area is demonstrated by “the UK’s strong performance” in the independent review of money laundering and terrorist financing undertaken by the Financial Action Task Force and its top tier ranking in Transparency International’s Corruption Perceptions Index.

Louise Hodges

15 January 2019

Routinely and aggressively pursuing money-laundering investigations: the verdict on the UK’s AML regime

In December 2018, the Financial Action Task Force (FATF) published its report on the UK regime to counter money laundering (ML) and terrorist financing (TF). The report praises the strength of the UK regime, noting that the UK has a ‘robust’ understanding of ML/TF risk, and proactively investigates, prosecutes and convicts ML and TF. The report cites that the UK achieves “around 7900 investigations, 2000 prosecutions and 1400 convictions annually for stand-alone ML offences or where ML is the principle offence”.

Nicola Finnerty

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