Featured Law & Accountancy

UK publishes anti-money laundering strategy, targets lawyers, public schools

The United Kingdom has published its strategy to tackle money laundering and other serious crime, outlining a crackdown on professional enablers and sectors targeted by launderers, such as public schools. Officials estimate that billions are laundered through the UK annually, impacting its reputation and economy. Under its Serious and Organised… Read More

Banking: UK barrister challenges suspicious activity reports, scores win

A London-based barrister has challenged a bank’s decision to file suspicious activity reports (SARs) about him, after it froze his accounts and provided limited evidence to back its actions. NatWest began filing SARs on David Lonsdale in March 2017, when it froze his joint account for a number of… Read More

George Pearmain, lead policy adviser on financial crime for Jersey, on his concerns and priorities for the Island

George Pearmain, lead policy adviser on financial crime for Jersey, on the past successes and future challenges for the island's financial crime prevention regime. Read More
2nd November 2018
The United Kingdom has published its strategy to tackle money laundering and other serious crime, outlining a crackdown on professional enablers and sectors targeted by launderers, such as public schools. Officials estimate that billions are laundered through the UK annually, impacting its reputation and economy. Under its Serious and Organised… Read More
1st November 2018
The “cosily competitive” Big Four accounting firms, who check the books of 97 percent of Britain’s 350 largest companies, need stronger rivals to avoid becoming too-big-to-fail, officials and investors told a UK competition inquiry into auditing. EY, KPMG, Deloitte and PwC have come under intense scrutiny in Britain for failing… Read More
26th October 2018
A London-based barrister has challenged a bank’s decision to file suspicious activity reports (SARs) about him, after it froze his accounts and provided limited evidence to back its actions. NatWest began filing SARs on David Lonsdale in March 2017, when it froze his joint account for a number of… Read More
8th October 2018
Britain’s accounting watchdog said on Monday it may ban accounting firms from providing consultancy work to firms whose books they check. Under pressure from lawmakers to toughen up supervision of accountants after collapses at outsourcer Carillion and retailer BHS, the Financial Reporting Council announced a new “strategic focus” to ensure… Read More
1st October 2018
AP — Ex-Foreign Secretary Boris Johnson has branded British Prime Minister Theresa May’s plan for leaving the European Union “deranged,” fueling tensions as the ruling Conservative Party holds its annual conference. Johnson told the Sunday Times that May’s Brexit plan won’t work, particularly proposals that would… Read More
20th September 2018
Big Four auditor KPMG has admitted to misconduct over its compliance reports for the Bank of New York Mellon, the UK accounting regulator said. According to the Financial Reporting Council (FRC), KPMG and one of its senior partners failed to give adequate consideration as to whether the records of… Read More
12th September 2018
David Green, the former director of the United Kingdom’s Serious Fraud Office (SFO) is to join Slaughter and May, a firm that advised a number of companies in their cases against the enforcement agency. Green, who was at the helm at the SFO for 6 years, will work as a… Read More
6th September 2018
Mining company ENRC won a landmark appeal in a London court on Wednesday to keep the majority of documents generated during an internal investigation out of the hands of authorities. Britain’s Serious Fraud Office (SFO) opened a criminal investigation into ENRC in 2013 over allegations of fraud, bribery and corruption… Read More
4th September 2018
The Solicitors Regulation Authority (SRA) has called on solicitors to check the HM Treasury frozen assets review to ensure that they are not holding monies belonging to a client that is subject to financial sanctions. Anyone who is holding frozen assets has until Friday 12 October 2018 to submit a… Read More
Must Read

EU states still divided over money laundering reform – sources

European Union states are still divided over an overhaul of rules for the supervision of banks against money laundering, two EU sources said on Wednesday. EU confidential documents show countries had agreed a preliminary common stance on the reform proposed by the European Commission in September which would give more… Read More

Former UBS trader jailed for Britain’s biggest fraud deported

Kweku Adoboli, a former UBS trader jailed for Britain’s biggest fraud over unauthorised trades that cost the Swiss bank $2.3 billion (1.7 billion pounds), has been deported to Ghana, his spokesman said. Adoboli was put on a commercial flight from Heathrow on Wednesday after being detained in Scotland earlier in… Read More