i-law

Financial Crime

LLR: Financial Crime

IQBAL AND ANOTHER v CITY OF WOLVERHAMPTON COUNCIL
[2025] Lloyd's Rep FC 327
Conspiracy – Criminal Law Act 1977, section 1(2) – Intent or knowledge.
HKSARF v LAM CHEUK TING (林卓廷)
[2025] Lloyd's Rep FC 339
Statutory interpretation – Legislative purpose – Disclosure offence – Actus reus – Mens rea – Prevention of Bribery Ordinance (“POBO”), Part II – ICAC investigation.

Money Laundering Bulletin

FATF removes four African states from grey list, adopts asset recovery guidance
The Financial Action Task Force (FATF) has removed four African jurisdictions from its grey list, with its president Elisa de Anda Madrazo claiming their governments - of Burkina Faso, Mozambique, Nigeria and South Africa - have made tangible progress on their anti-money laundering/counter financing of terrorism (AML/CFT) action plans.
Online Published Date:  27 Oct 2025
Appeared in issue:  329 - 01 Dec 2025
Two-thirds of UK corporate finance firms in survey must work on AML
Of 270 corporate finance firms which responded to a UK Financial Conduct Authority (FCA) survey, around two in three were found to be in potential breach of the Money Laundering Regulations, falling short on at least one aspect of AML.
Online Published Date:  24 Oct 2025
Appeared in issue:  329 - 01 Dec 2025

Fraud Intelligence

Think inside the box - cargo crime
Opportunities to profit illegally from trade through false representation of goods shipped and identities of handlers en route, as well by diversion strategies, are many and varied. Electronic bills of lading are a major advance in logistics integrity, finds Keith Nuthall, but adoption as standard is over the horizon.
Online Published Date:  29 Oct 2025
Appeared in issue:   - 29 Oct 2025
EU banking watchdog warns about white-labelling risks
The European Banking Authority (EBA) is warning about fraud risks from the growing practice of 'white labelling', where a financial institution provides services, such as payment cards or loans, under a partner's brand.
Online Published Date:  23 Oct 2025
Appeared in issue:   - 23 Oct 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

Regulators launch post-Sandbox 'Scale-Up Unit' to help high-flying firms
The FCA and PRA are launching a shared specialist department in Leeds that will provide a single point of contact for "fast-growing, innovative" firms covering regulatory processes, product development, the impact of new policy and sector engagement.
Online Published Date:  24 Oct 2025
Appeared in issue:  Vol 38 No 3 - 01 Nov 2025
FCA appointed to AML/CTF supervision across the professions
The FCA has won the support of HM Treasury to consolidate under the regulator responsibility for supervising all Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) measures across accountancy, legal, trust, company services and "potentially" other sectors, including estate and letting agencies.
Online Published Date:  21 Oct 2025
Appeared in issue:  Vol 38 No 3 - 01 Nov 2025
FCA identifies steps firms could take to stem growing trend of romance fraud
Firms could become more effective in tackling romance fraud if they followed the current best practice, according to the findings of an FCA review.
Online Published Date:  17 Oct 2025
Appeared in issue:  Vol 38 No 3 - 01 Nov 2025

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