2014 was a bumper year for the English court exercising its powers to freeze the assets of alleged wrongdoers. Jamie Curle, Sarah Ellington, Min Weaving and Yasmin Bailey of DLA Piper examine both the established principles and new applications of the English court’s jurisdiction, and note the growing number of foreign parties relying on its long arm.
European Union (EU) residents will no longer be able to evade tax by hiding undeclared income in Swiss bank accounts from 2018, under a landmark agreement that the European Commission and Switzerland clinched on 19 March 2015.
Companies with a higher proportion of women on their board, than is the norm or required by regulators, are less prone to governance-related scandals such as fraud, corruption, bribery and shareholder battles.
A major City institution is paralysed by a hacking exploit: Detective Constable Susan Lee answers the call.
Last week I was in in Iceland when four former senior executives of the now defunct Kaupthing Bank lost their appeals against conviction and sentence for market manipulation, essentially the false inflation of the share price of the bank. All have been sentenced to prison terms of up to five and a half years...
Switzerland could soon be recognised as a country fully compliant with international standards on releasing tax information to fight global tax evasion.
Although payment of any bribe, however small, will fall foul of the UK Bribery Act and may well constitute an offence under the US Foreign Corrupt Practices Act, in some sectors and jurisdictions it can be difficult to operate commercially otherwise. Robert Stokes looks at the incentives, guidance and support available to foster lawful business.
HSBC actively assisted customers of its private bank in Switzerland to evade millions of dollars in taxes due in their home jurisdictions according to leaked documents covering the period 2005-2007.
President Xi Jinping’s anti-graft campaign may be taking out tigers as well as the flies - most recently Ma Jian, China’s spy chief - but disclosure requirements for companies listed on overseas markets are testing the authorities’ appetite for openness, reports Gao Fu Mao from Beijing.
A leading bank has been hacked with a ransom demanded in Bitcoins but Detective Constable Susan Lee is on the case.
A major disaster scenario – where mass procurement of services and goods is conducted under acute time pressures – poses particular problems for fraud prevention. Adam Bowen, who undertook senior accounts payable roles in the wake of the Deepwater Horizon oil spill, can speak from experience.
Fraud offences in the UK rose 5% in the 12 months ending September 2014 according to the country’s national fraud and cybercrime reporting centre, Action Fraud.
FINANCIAL CRIME NEWS
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