In September 2019, HM Revenue and Customs (HMRC) published its list of businesses that have not complied with the Money Laundering Regulations 2017 (MLR 2017) for the tax year 2019 to 2020. Within this, it revealed that it has fined Touma Foreign Exchange Ltd £7.8 million for a wide range of serious failures under the Money Laundering Regulations.
Tucked in between the “reasonable worst-case” scenarios for food, trade and fuel is a stark one liner: “Law enforcement and information sharing between U.K. and EU will be disrupted”. The reduction in capability of law enforcement agencies that will come from a no deal will, according to government documents, be accompanied by an increase in cross-border crime.
In the fight against global economic crime, the authorities have repeatedly advocated their desire to seek the assistance of those who have participated in, or have information concerning, criminal wrongdoing. They do so in a number of ways: through the help of whistleblowers, informants, suspects or defendants testifying in court and the use of Deferred Prosecution Agreements (DPAs).
The recent acquittal of our client, Oritsé Williams, once again puts a spotlight on the prosecution of rape and serious sexual offences, and the particular complexities faced by high profile individuals defending allegations of this nature.
The Serious Fraud Office (SFO) was established to investigate and prosecute cases involving serious or complex fraud, a mission that inevitably leads it to the corporate sector. In 2010, it was given two significant tools in dealing with companies: a simple route to corporate criminal liability for bribery cases in the Bribery Act 2010 (the stick); and a means of incentivising a company fixed with corporate criminal liability to co-operate with the SFO by entering into a deferred prosecution agreement (DPA) and so avoiding a conviction (the carrot).