Fraud is costing the UK a staggering £193 billion ($282 billion) a year, according to a new report.
Entries in United Kingdom (134)
The job of the UK's top financial regulator includes enforcing requirements to designate compliance officers with defined professional roles and duties.
Prime Minister David Cameron hosted an international anti-corruption summit in London Thursday and used the event to announce steps to end the secret ownership of property in the UK by foreigners.
Two related UK banks said in separate U.S. securities filings that the UK's top financial regulator has asked for information about any relationship the banks had with the Panama law firm at the center of the Panama Papers leak or with any individuals named in media coverage about the story.
London’s commercial court recently dismissed, in fairly trenchant terms, a corruption-related claim brought by the Djibouti government against Abdourahman Boreh, the man credited with being instrumental in the development of the country’s strategically important and successful port, oil storage, and duty free facilities.
The first negotiated settlement of a corporate bribery investigation under the UK Bribery Act involved a deferred prosecution agreement between the Serious Fraud Office and ICBC Standard Bank. That case is a turning point in the enforcement history of the UK Bribery Act and, at a global level, it fuels the debate about the use of settlements to resolve foreign bribery charges.
In any word association game, "tracing, proprietary and yawn" would probably make a good grouping. However, the importance of the former two for a potential bribery victim in carrying out investigations and conducting disciplinary proceedings was recently underscored in a decision involving the UK’s largest housebuilder.
Transparency International released a report Monday calling for a radical overhaul of the UK’s anti-money laundering system.
The United States and United Kingdom recently published comprehensive money laundering risk assessments through the UK’s National Risk Assessment and the U.S.’s National Money Laundering Risk Assessment.
Last month the UK’s Treasury and Home Office published the first national risk assessment of money laundering and terrorist financing in the UK.
If you're a compliance practitioner seeking to design an anti-corruption program consistent with all laws that apply to your company, you probably recognize the phrase "carries on a business, or part of a business, in any part of the United Kingdom."