Insights

ICO muscle flexing: First British Airways now Marriott

10th July 2019
Guevara Leacock, Insights, News & Insights

Just over a year since the Data Protection Act 2018 (DPA 2018) set new standards for protecting personal data in accordance with the General Data Protection Regulation (GDPR), the Information Commissioner’s Office (ICO) has announced its intention to issue its first penalty fines under the new regime. The ICO intends to impose an eye watering £183m fine for a data breach on the ‘world’s favourite airline’ British Airways (BA) and £99m on Marriott, an international hotel group.

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financial crime lawyers london

What Next for Economic Crime Policy? Pointers from the Government’s response to the Treasury Select Committee

27th June 2019
Insights, News & Insights, Serena O'Dea, Uncategorised

The government’s recent response to the House of Commons’ Treasury Select Committee report, ‘Economic Crime – Anti-Money Laundering Supervision and Sanctions Implementation’, provides some pointers for future policy initiatives in this area. These will be of particular interest to businesses in the property sector, others currently supervised by HMRC, and those on the receiving end of banks’ policies of ‘de-risking’.

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The “Troika Laundromat Fraud”: Exposing the weaknesses in UK’s Anti-Money Laundering regime

12th April 2019
Anti-Money Laundering, Caroline Mair, Corporate Crime, Financial Crime, Insights, News & Insights, Regulatory

The so-called “Troika Laundromat” fraud, uncovered after one of the largest banking information leaks ever, highlights the ever-growing importance for those within the regulated sector to implement robust customer due diligence (“CDD”) policies which are tailored to the specific money laundering risks posed by their customers.

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MPs call for manifold changes to the UK’s anti-money laundering regime 

22nd March 2019
Anti-Money Laundering, Corporate Crime, Financial Crime, Insights, News & Insights, Serena O'Dea

BCL’s Serena O’Dea discusses the House of Commons’ Treasury Select Committee report, entitled ‘Economic Crime – Anti-Money Laundering Supervision and Sanctions Implementation’, published on Friday 8 March 2019 calling on the government to review the UK approach to economic crime.

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