Welcome to the festive edition of the Dentons Financial Crime Update, where the Dentons UK Regulatory and Investigations team has pulled together news and updates from our respective specialisms which we think are likely to be of interest to our clients. As in previous editions, our team has used our combined background and experience in private practice, in-house and at each of the key AML, ABC and sanctions regulators to give you our perspective on key updates to help inform your horizon scanning and financial crime compliance. 

The big news this quarter is the Economic Crime and Corporate Transparency Act, which will have a big impact for clients across the corporate crime space. We break down some of those changes below. In particular, the introduction of the failure to prevent fraud offence is causing all firms to place the review of internal fraud controls squarely within horizon scanning. Our corporate crime team are planning to host a series of roundtable events so that firms from different sectors, including financial services, construction, retail and energy can talk together and compare best practice around implementation changes. If your firm is interested in sending someone then please contact Chandrika.hirani@dentons.com.