Economic crime

Economic crime poses a threat to a country's national security, economy and institutions and causes serious harm to society. It is therefore a key priority for many governments, including the UK, who are continuously seeking to enhance the legislative and regulatory landscape to tackle economic crime. The financial services sector is central to this, and financial services firms need to stay ahead and ensure they have comprehensive economic crime frameworks in place to avoid prosecution and large fines.

Economic crime frameworks are also good for business. A compliant business is an efficient business, an effective economic crime compliance programme can increase the bottom line. An economic crime compliance programme is also an integral part of demonstrating environmental, social and governance (ESG) credentials.

Experience

• Advising clients on compliance with the Economic Crime and Corporate Transparency Act 2023. Find out more about the act.
• We regularly come up against the UK’s main regulators and enforcement agencies such as the SFO, the FCA, HMRC and the Police. Members of our team include former compliance officers, prosecutors and individuals who have worked on some of the largest economic crime cases over the last 20 years.
• Advising clients on the implications of the Russia sanctions regime.
• Conducting a review of systems and controls, governance and resourcing of the anti-money laundering arrangements in the Wealth division of a global banking group.