Related insights: Financial Crime Prevention
Financial crime prevention: 2023 paves the way for a busy 2024
21 Dec 2023
We've been providing end of year regulatory round ups for quite a few years now, and it would be safe to say there's never been a quiet year. But 2023 may just have surpassed all others! We've seen two important laws come onto the statute book, setting new requirements and giving new powers to regulators, which set the foundations for 2024 implementation. We've seen the usual enforcement actions – in fact, all but one of the fines FCA has imposed on regulated firms have been for financial crime failings – and we've had a clear message from FCA that financial crime prevention is one of its super-charged priorities for the next year.
Financial crime prevention: boosting protection
15 Nov 2023
Financial crime never stands still. Lawmakers and regulators face a constant battle to protect its victims. Where possible, prevention is of course better than cure. But, where crime has caused loss, it's important to take steps to reimburse those who have suffered.
Much of 2023 has been taken up with two particular initiatives – putting reimbursement of victims of authorised push payment (APP) fraud on a formal and mandatory basis, and putting responsibilities on businesses to take steps to prevent fraud.
In this article, originally written for Compliance Monitor, Emma Radmore, Legal Director at Womble Bond Dickinson looks at what's been going on.
Much of 2023 has been taken up with two particular initiatives – putting reimbursement of victims of authorised push payment (APP) fraud on a formal and mandatory basis, and putting responsibilities on businesses to take steps to prevent fraud.
In this article, originally written for Compliance Monitor, Emma Radmore, Legal Director at Womble Bond Dickinson looks at what's been going on.
Authorised Push Payment Fraud podcast series: Philipp v Barclays Bank
04 Oct 2023
In our fourth and final episode of our Authorised Push Payment Fraud podcast series, hosts Rashmita Roy Chowdhury and Samantha Bryant discuss the Supreme Court's judgment in the case of Philipp v Barclays Bank, providing some key takeaways and practical tips.
Listen to Quincecare case overview in latest Authorised Push Payment Fraud podcast series
19 Jun 2023
Episode three of the Authorised Push Payment Fraud podcast series focuses on Stanford International Bank vs HSBC, where the Courts ruled that there was no basis for a Quincecare claim.
Authorised Push Payment Fraud podcast explores Quincecare duty and the banks' liability
24 May 2023
In episode 2 of Womble Bond Dickinson's Authorised Push Payment Fraud podcast series, we dive into some recent court judgments where both the Quincecare duty, as well as the banks' liability under this duty, are being put in the limelight.
How the FTX debacle triggered a wave of crypto fraud
05 Apr 2023
Fraudsters are treating the implosion of the crypto exchange and the declining value of several popular cryptocurrencies as a chance to target a whole new set of potential victims.
New podcast explores Authorised Push Payment Fraud
21 Mar 2023
Law firm Womble Bond Dickinson's new podcast series looks at Authorised Push Payment Fraud, also known as APP fraud.
Raconteur (The Times) Fraud & Financial Crime report 2023
03 Mar 2023
Economic downturns have a habit of becoming a breeding ground for fraud. And with social media, cryptocurrencies and non-financial sectors such as property, fine art and jewellery also proving hotspots for financial crime, there are plenty of dangers to watch out for. Will regulators be able to keep up in this constantly evolving landscape?
Call for evidence on the UK's AML regime: a chance for change?
03 Aug 2021
July brought a flurry of activity on the AML/CTF prevention front, both domestically and internationally. HM Treasury is calling for evidence in the effectiveness of the UK regime and proposing changes to the regulatory requirements, while the EU moves to consolidate its legislation. Emma Radmore looks at the opportunities for change.
Opportunistic insider trading related to a personal data breach
21 Aug 2019
The recent conviction of a second Equifax executive (Jun Ying) for insider trading after the Equifax data breach in 2017, highlights concerns about the possible interplay between data breach and insider trading. In the period from detection of a data breach to its public disclosure, insiders might try to use non-public information in securities trading, cashing in on the prediction that the disclosure of a data breach will cause stock price to fall.
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