Please sign in with your existing account details.
Register to access exclusive content, sign up to receive our updates and personalise your experience on brownejacobson.com.
Privacy statement - Terms and conditions
Forgotten your password?
You have exceeded the maximum number of login attempts for this email address and your account has been locked. An email has been sent to member of Browne Jacobson's web team and some one will be contacting you over the next two working days with details of how to change your password.
Are you sure you want to remove this item from you pinned content?
Where clients rely on the criminal justice system to prosecute fraud and repatriate funds lost due to dishonest breach of fiduciary duties of a senior officer, the decision in Crown Prosecution Service v Aquila Advisory Limited [2021] UKSC 49, provides welcome clarification on the interplay between POCA and common law recovery.
The decision underlines a company’s capacity to enforce its proprietary rights in priority to unsecured creditors, though a constructive trust and represents a significant weapon where directors are in receipt of unauthorised profits in breach of their fiduciary duties. The ability to do so would not be undermined by the illegality of directors’ acts, which would not be attributed to the company and where companies may, as in this case, decide to pursue their own recovery
However, as a caveat, it seems companies may still be subject to the POCA regime and stripped of a potential windfall under Parts 2 and 5 of POCA, which the CPS did not avail themselves of in this case.
Payment systems across Europe are under increased pressure to mitigate fraud risks and defend against persistent attacks from enablers using ever more sophisticated and malicious viruses and malware.
View blog
The Chancellor’s latest Budget Report outlined that the Government will introduce a £100 million Economic Crime Levy, otherwise known as the AML Levy no earlier than April 2022 to fund action to tackle money laundering and ensure delivery of reforms in the Government’s Economic Crime Plan.
It is important to recognise that organisations and individuals do not have to intend to launder money or even to act dishonestly in order to commit money laundering offences.
The Court of Appeal yesterday handed down one of the most awaited court judgments in recent times, Serious Fraud Office (SFO) v Eurasian Natural Resources Corp. Ltd [2018] EWCA Civ 2006.
Partner
Select which mailings you would like to receive from us.
Sign up