SERIOUS FRAUD OFFICE

Enforcement

UK FCA Fines PwC for Failing to Report Fraud Suspicions

By Mark Johnston | 20/08/2024

This is the FCA’s first-ever fine against an auditor, imposed because PwC failed to report fraud suspicions to the regulator.

Enforcement

UK SFO Charges Ex-Glencore Employees Over Bribery Scheme

By Editors | 03/08/2024

Five former Glencore employees are charged with conspiring to make corrupt payments to benefit the company’s oil operations in West Africa.

Enforcement

LIBOR Convictions to be Raised With UK Supreme Court

By Editors | 22/05/2024

The Court of Appeal opened the door for Tom Hayes and Carlo Palombo to directly apply to the Supreme Court for permission to appeal their convictions.

Enforcement

UK Court Dismisses Appeals Against Rate Rigging Convictions

By Editors | 30/03/2024

Two former bankers including Tom Hayes had their appeals rejected in the UK, despite the Hayes case being dismissed in the US in 2022.

Enforcement

UK FCA Commits to Being More Transparent About Investigations

By Editors | 28/02/2024

The FCA pledges to be more proactive about announcing investigations and naming the firms involved, to improve deterrence.

AML / KYC

Indonesia to Sue UK for Share of 2020 Airbus Bribery Settlement

By Editors | 27/09/2023

Indonesia plans to sue the UK to annul a billion-dollar settlement Airbus agreed with France, the UK and the US.

Crypto / Digital Assets

New Zealand: Collapsed Crypto Firm Reported to FMA, SFO

By Sanday Chongo Kabange | 22/08/2023

Grant Thornton has contacted regulators about a NZ$6.3 million shortfall between reported user holdings and the digital assets held by collapsed crypto firm Dasset.

New “Failure to Prevent Bribery” Offence before Australian Parliament

By Abigail McGregor | 07/07/2023

Abigail McGregor and Hoory Yeldizian explain the implications of a new law that will subject corporations to penalties if an associate engages in bribery.

Enforcement

Former London Trader Allowed to Appeal LIBOR Rigging Conviction

By Editors | 07/07/2023

Tom Hayes was the first person to be convicted of rigging LIBOR. He was released from jail in 2021 after serving half of an 11-year sentence.