Guevara Leacock

london corporates legal advice

The new ‘Economic Crime’ levy: What it means for your business.

The government announced in its latest budget plans to introduce a new £100m levy on companies to fight economic crimes. The money garnered from companies could be used to boost public financing of law enforcement technology and in hiring more prosecutors and investigators. The new levy has the potential to affect big corporates, banks, investment firms, accounting firms, estate agents, independent legal advisors, casinos, trust service providers and any financial institution subject to UK Money Laundering Regulations.

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ICO muscle flexing: First British Airways now Marriott

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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