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In this issue:
AML and financial crime prevention
Vicarious liability of employers
LexTalk®In-house: a Lexis®PSL community
UK’s EU data adequacy decision uncertain as talks bog down
MLex: The future of data flows between the EU and the UK remains uncertain as the negotiations over a data adequacy decision for the UK have ‘have gone a bit more slowly than we thought’, the UK’s chief negotiator David Frost said on 7 October 2020.
See News Analysis: UK’s EU data adequacy decision uncertain as talks bog down.
Director of SFO considers future challenges in economic crime
Director of the Serious Fraud Office (SFO), Lisa Osofsky, has delivered a speech at the Royal United Services Institute in which she considered the future challenges in economic crime. She stated that one of the main challenges is that economic and financial crime encompasses a broad spectrum of harms and threats, but points towards Otello, the national law enforcement campaign, the government’s Economic Crime Plan, and collaboration between governmental departments and their partners, as examples of how the differences in economic crime have been recognised and targeted. Osofsky also advocated for creating a failure to prevent offence and allowing the SFO to use section 2 powers (under the Criminal Justice Act 1987 (CJA 1987)) before opening a formal investigation into fraud and domestic bribery cases. In addition, she suggested that a tipping off offence in relation to CJA 1987, s 2 notices should be created to improve the way in which economic and financial crime is fought.
See: LNB News 09/10/2020 23.
Former Unaoil executive imprisoned for bribing Iraqi officials for contracts
The SFO has announced that former Unaoil executive, Basil Al Jarah, has been sentenced to three years and four months in prison for paying more than $17m in bribes to secure approximately $1.7bn worth of contracts in Iraq. According to the SFO, Al Jarah conspired with
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