Publicity Order for corporate offenders: Read all about it

On 13 April 2015 a number of measures in the Criminal Justice and Courts Act 2015 came into force. One of which, the new offence of wilful neglect by care providers, is notable, says Jessica Parker of Corker Binning, not because of the conduct it criminalises but because included in the available penalties are Publicity Orders, an order of the court requiring a business to publicise its wrongdoing.

Criminal & Civil Proceedings, Legislation, Comment, Surveys and Research, Europe

Actions speak louder than rules

There must be a better way to deal with fraud and corruption. We need to start leading by example instead of ruling by prescription, argue Professor Yuval Millo and Nigel Krishna Iyer.

Case Studies / Red Flags, Detection, Prevention, Response Plan

‘Flash crash’ trader faces extradition to US

A British day trader, who operated from his parents’ modest house in Hounslow, is fighting extradition to the US on charges that his manipulation of a market in index futures contributed to the flash crash in 2010.

Criminal & Civil Proceedings, Securities & Investment Fraud, Europe, North America

SFO launches third bribery trial against Alstom

The UK Serious Fraud Office (SFO) has brought more corruption charges against train-maker Alstom’s British subsidiary Alstom Network UK Ltd, as well as employee Michael John Anderson.

Criminal & Civil Proceedings, Bribery & Corruption, Europe

Satyam software company boss sentenced to seven years’ jail

A court in Hyderabad, India, has sentenced the founder of software company Satyam, Ramalinga Raju, to seven years’ imprisonment for his part in the country’s biggest-ever accounting fraud case.

Criminal & Civil Proceedings, Financial Misstatement, South Asia

India presses Swiss tax authorities on HSBC accounts

Indian tax authorities are pushing their Swiss counterparts to disclose financial details of Indian nationals with accounts at HSBC Switzerland.

Tax Fraud, Europe, South Asia

Two steps forward, one step back – the SFO

Two recent cases highlight the strengths and the weaknesses of the Serious Fraud Office, say Marcus Thompson and Mark Hunting of Ropes & Gray, at a time when its future as an organisation of investigators, prosecutors and other specialists working together under the same roof – the ‘Roskill model’ [1] – remains uncertain.

Criminal & Civil Proceedings, UK Government & Public Sector, Comment, Surveys and Research, Bribery & Corruption, Europe

Fine measurement: the Sentencing Council Guideline

Corporates contemplating conviction in the UK for fraud, money laundering or bribery are better placed to gauge the likely quantum of the financial penalty they face under the Sentencing Council Guideline that took effect on 1 October 2014. Nonetheless, the calculations still raise many questions, say Andrew Durant and Julian Glass of FTI Consulting.

Criminal Confiscation & Civil Recovery, Criminal & Civil Proceedings, Case Studies / Red Flags, Europe

Whistling a happier tune

Developments – recent and prospective – in UK law promise greater protection for those who witness misconduct and are weighing the personal costs of disclosure, says Jackie Thomas of Berwin Leighton Paisner.

Legislation, Whistleblowing, Europe

Serious Fraud Office fined over major security breach

The UK confidentiality watchdog, the Information Commissioner’s Office, has fined the Serious Fraud Office UK£180,000 after evidence in a high-profile fraud, bribery and corruption case was sent to a witness.

Criminal & Civil Proceedings, UK Government & Public Sector, Information & Systems Security, Bribery & Corruption

Serious consequences

For the first time, those who “ask no questions” and “turn a blind eye” to the possibility that their actions support organised crime are in the cross-hairs of UK legislation. A new offence of ‘participation in an organised crime group’, which carries a maximum sentence of five years’ imprisonment, was passed into law on 3 March as part of the Serious Crime Act 2015. Various key provisions within the Act will commence on 3 May or 1 June 2015 (see the Serious Crime Act 2015 (Commencement No 1) Regulations 2015).

Criminal Confiscation & Civil Recovery, Freezing & Restraint, Legislation, Money Laundering, Online Fraud, Europe

EU cross-border currents – spending controls and cyber advance

The European Parliament’s budgetary control committee has called for more thorough checks on European Union institution and budget spending. In a detailed resolution, it noted that while the value of EU frauds has been falling, the number of scams has been increasing. The European Commission should better analyse cases to prevent further loss of funds, said MEPs.

International agencies, Online Fraud, Tax Fraud, Europe

The ponderous progress of international fraud law [Part 2]

Though fraud is often international in scope, the development of legal measures that cater to the complexities involved in apprehending criminal activity across borders has dawdled for decades. In the second of a two-part article, Mark Surguy brings us up to date on UK and European initiatives as well as some cases that show their limitations.

Criminal & Civil Proceedings, Legislation, Europe

EU and Switzerland in ground-breaking deal to share bank details

European Union 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.

Disclosure, UK Government & Public Sector, Detection, Tax Fraud, Europe

Swiss come in from the cold: tax evasion co-operation

Switzerland could soon be recognised as a country fully compliant with international standards on releasing tax information to fight global tax evasion.

Legislation, Intelligence Sharing, Tax Fraud, Europe

Cyber Cops - The case of the lost database [Part 2]

A leading bank has been hacked with a ransom demanded in Bitcoins but Detective Constable Susan Lee is on the case.

Case Studies / Red Flags, Online Fraud

Cyber Cops - The case of the lost database [Part 1]

A major City institution is paralysed by a hacking exploit: Detective Constable Susan Lee answers the call.

Case Studies / Red Flags, Online Fraud