Andrew Reeves (UK)

Photo of Andrew Reeves (UK)

Latest Articles

Earlier this year, the Financial Action Task Force (FATF) together with the Asia Pacific Group on Money Laundering (APG) published a report analysing the financial flows associated with human trafficking. The report: summarises indicators of financial transactions that are laundering the proceeds of human trafficking (e.g. multiple wages being paid into one account, rapid in/out transactions following receipt of wages); identifies challenges and good practices in detecting, investigating and prosecuting money laundering from human trafficking;…
The production of recreational cannabis was legalised in Canada in October 2018. As a consequence, UK corporates and financial institutions wishing to invest or be involved in activity relating to Canadian cannabis businesses face a real obstacle: doing so could technically constitute a criminal offence under UK money laundering legislation (see our previous blog here). Even before this change took effect, Lloyd’s of London announced that, having taken advice from leading counsel, it is…
In September 2018, Lisa Osofsky delivered her first speech as the new Director of the UK Serious Fraud Office. In a wide-ranging speech she focused on three key areas: Increasing the SFO’s collaboration with UK agencies and agencies from other jurisdictions (and in particular, the NCA, HMRC, FCA and agencies from the US, France, Argentina, Canada and Australia) – both to investigate matters but also to resolve them. This ties in with the increasing international coordination that…
In a judgment recently published by the High Court (available here), a claimant has been granted the right to inspect suspicious activity reports (SARs) filed by his bank. The Court made the order in interlocutory proceedings brought in the course of an individual’s claim against his bank for breach of contract, breach of the Data Protection Act 1998 and defamation. The claim arose after the bank froze the individual’s accounts and filed SARs. The…
The SFO has this week confirmed that it will not appeal the Court of Appeal’s recent decision addressing, in particular, fundamental issues as to the ambit of litigation privilege in investigations (ENRC v SFO [2018] EWCA Civ 2006). A more detailed summary of the case and its practical implications is available here. The decision of the SFO not to appeal the decision means that English law will be left with a narrow concept of…
Medical cannabis is already big business in Canada. With the production of recreational cannabis due to be legalised there in October 2018 that business is expected to continue to grow, with Deloitte estimating that the total legal cannabis market will generate some CAD4.34 billion in 2019. However, UK corporates and financial institutions wishing to invest or be involved in activity relating to Canadian cannabis businesses face a real obstacle: doing so could technically constitute a…