i-law

Financial Crime

LLR: Financial Crime

SHVIDLER v SECRETARY OF STATE FOR FOREIGN, COMMONWEALTH AND DEVELOPMENT AFFAIRS | DALSTON PROJECTS LTD AND OTHERS v SECRETARY OF STATE FOR TRANSPORT
[2025] Lloyd's Rep FC 355
Financial sanctions – Transport sanctions – Proportionality – Standard of review – Appellate review.
CHANANA v KHAN
[2025] Lloyd's Rep FC 411
Sanctions – Insolvency – Asset freeze – Prior obligations – Statutory demand – Sanctions and Anti-Money Laundering Act 2018 – Russia (Sanctions) (EU Exit) Regulations 2019 (SI 2019 No 855) – Insolvency Rules 2016 (SI 2016 No 1024) – Council Regulation (EU) 269/2014.

Money Laundering Bulletin

Charles Douglas Solicitors fined £23,588 in UK for inadequate PEP due diligence
Mayfair, London, UK-based law firm Charles Douglas Solicitors LLP has been ordered to pay UK£23,588 (US$31,023) and UK£1,350 (US$1,776) costs by the Solicitors Regulation Authority (SRA) for failings in customer due diligence on a non-domestic politically exposed person (PEP) it acted for in residential property matters.
Online Published Date:  25 Nov 2025
Appeared in issue:  329 - 01 Dec 2025
Caesars Palace fined US$7.8m for failed checks on illegal bookmaker
Caesars Entertainment, Inc and its Nevada-licensed casino Caesars Palace must pay a US$7.8 million fine for deficient customer due diligence (CDD) on client Mathew Bowyer over seven years, from 2017 to 2014, the Nevada Gaming Commission confirmed on 20 November.
Online Published Date:  21 Nov 2025
Appeared in issue:  329 - 01 Dec 2025

Fraud Intelligence

Whistleblowers on UK tax evasion financially incentivised in budget
One way for a UK chancellor the of the exchequer to avoid breaching promises not to raise taxes is to collect more that are not paid. In her budget on 26 November, Rachel Reeves announced a series of measures designed to close the tax gap, estimated at UK£46.8 billion (US$61.9 billion) in 2023/24.
Online Published Date:  27 Nov 2025
Appeared in issue:   - 27 Nov 2025
UK Companies House starts mandatory verification of directors and persons with significant control
Companies House, on 18 November, started a 12-month phase-in of its compulsory identity verification for company directors or persons with significant control (PSC) for private companies logged onto its register, rooting out fake or stolen identities uses to establish companies or appoint directors.
Online Published Date:  21 Nov 2025
Appeared in issue:   - 21 Nov 2025

Supreme court coverage in Lloyd's Law Reports: Financial Crime

Latest Supreme Court case reported in Lloyd's Law Reports: Financial Crime

https://static.i-law.com/ilawResponsive/prod/publications/Apr-2025/29/3585ac74-e555-4a0e-9caf-41b8490facf1-FCPt3Cover.jpg

El-Khouri v Government of The United States of America [2025] UKSC 3; [2025] Lloyd's Rep FC 87

With a commentary written by Rachel Cook, of Counsel, Peters & Peters Solicitors LLP, this case clarifies and simplifies the test for conduct and determining jurisdiction with regards to extradition. However, the Supreme Court acknowledged the simplicity of applying the test in this case, and practitioners are left with potential difficulties arising in more complex scenarios with conduct occurring across multiple jurisdictions.

Financial Crime Search

Compliance Monitor

FCA consults on equity consolidated tape while fighting legal challenge on bond tape
The FCA is proceeding with plans to launch a UK equity consolidated tape in July 2027 despite a legal challenge to its parallel bond tape which, lawyers estimate, could delay that service for a similar time period.
Online Published Date:  24 Nov 2025
Appeared in issue:  Vol 38 No 4 - 01 Dec 2025
FCA sets out streamlining overhaul for transaction reporting
The regulator expects to cut industry costs by 22 per cent on transaction reporting by introducing a series of trimming-down measures that will principally affect foreign exchange derivatives and error reporting.
Online Published Date:  21 Nov 2025
Appeared in issue:  Vol 38 No 4 - 01 Dec 2025
Deposit protection level at FSCS raised 41 per cent
An increase in the Deposit Protection Limit to £120,000 from 1 December is a 41 per cent rise on the current £85,000 level - and £10,000 higher than the PRA proposed in March this year.
Online Published Date:  18 Nov 2025
Appeared in issue:  Vol 38 No 4 - 01 Dec 2025

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