Blog Post
SFO allows second lawyer to take notes in interviews
On 28 February 2019 the Serious Fraud Office updated its guidance on dealing with requests for lawyers to accompany individuals interviewed under Section 2 of the Criminal Justice Act. Previously an interviewee could be accompanied by one lawyer only. The guidance has been updated to allow an additional legal representative to attend the interview for the sole purpose of taking notes. This does not permit the recording or transcribing of the interview.
Blog Post
HMRC publishes guidance on self-reporting the failure to prevent the facilitation of tax evasion
The Criminal Finances Act 2017, which came into force on 30 September 2017, makes certain corporate entities (referred to as "relevant bodies") criminally liable where they fail to prevent persons associated with them from criminally facilitating tax evasion, whether the tax evaded is owed in the UK or overseas. A person is “associated” with a relevant body if they are an employee, agent, intermediary or other person who performs services for or on behalf of the relevant body. The definition is intended to be wide
Blog Post
SFO drops investigation into Rolls Royce
The Serious Fraud office has announced that it is discontinuing its investigation into Rolls-Royce and there will be no prosecutions of any individuals for criminal conduct following the Deferred Prosecution Agreement (DPA) reached in 2017.
Blog Post
Tesco's controversial DPA published
The Serious Fraud office has now published its Deferred Prosecution Agreement ("DPA") with Tesco Stores Limited alongside the accompanying statement of facts. The publication follows the collapse of attempts to prosecute three of Tesco's directors on charges of fraud by abuse of position and false accounting.
Blog Post
NCA continues seizure of assets in first Unexplained Wealth Order
"Diamonds are forever", sang Shirley Bassey in 1971. The National Crime Agency would disagree, having seized a diamond ring worth £1 million from the subject of its first Unexplained Wealth Order.
Blog Post
Government proposes new measures to tackle international money laundering through UK vehicles
On 10 December 2018 the Government unveiled a package of measures to address the use of Scottish Limited Partnerships ("SLPs") and UK Limited Partnerships ("LPs") for money laundering in its response to a consultation on reforms to such partnerships. SLPs in particular have featured heavily in large corruption scandals, including the "Global Laundromat" in which as much as US $80bn may have been laundered out of Russia utilising over 100 SLPs
Blog Post
The UK's first Deferred Prosecution Agreement (DPA) Comes to an End
Last week the Serious Fraud Office (SFO) announced the end of the UK's first Deferred Prosecution Agreement (DPA) with Standard Bank. As part of the DPA's terms, Standard Bank was required to cooperate fully with the SFO and other authorities investigating the bribes, including disclosing information and material relating to the activities of individuals involved.
Blog Post
SFO proposes creation of broader 'failure to prevent' laws
The Director of the Serious Fraud Office and the President of the Queen's Bench Division have lobbied Parliament to create an overarching law of 'failure to prevent' applicable to all areas of economic crime in order to achieve greater success in the prosecution of corporate entities.
Blog Post
Government launches updated anti-money laundering strategy with a focus on the role of "professional enablers" such as lawyers, accountants and estate agents
On 1 November 2018, Minister for Security and Economic Crime, Ben Wallace, launched the Government's updated Serious and Organised Crime Strategy (originally released in October 2013) (the "Strategy"). To put the revised Strategy into force £48m of funding was promised to tackle economic crime and illicit finance. The National Economic Crime Centre, a specialist unit within the National Crime Agency ("NCA") with officers from the NCA, Serious Fraud Office, HMRC, and police forces, was launched on 5 November 2018 as part of this drive against money laundering and economic crime.
Blog Post
Reflection on the recent High Court decision: the SFO can request production of documents held abroad by foreign companies
A recent High Court decision has ruled on the international application of a section 2 Criminal Justice Act (CJA) 1987 notice. It was held that the notice was enforceable against a non-UK company and it accordingly could be compelled to disclose documents to the SFO held outside of the jurisdiction.