News & Events

Corporate Fraud

Cyber-Fraud, Third Party Fraudsters, and the Expansion of the Quincecare Duty

Stephen Doherty explores some recent cases involving “Quincecare Duty”, which has existed for over thirty years, and what these new precedents mean for modern banking fraud cases. “Quincecare Duty” was established in Barclays Bank plc v Quincecare Ltd [1992] 4 All ER 363, and tells us that a bank or financial institution may be liable for processing a fraudulent transaction if the bank has reasonable grounds for believing that there has been an attempt to defraud its customer. Remarkably, it was not until the Supreme Court handed down judgment in 2019, in Singularis Holdings Ltd (In Official Liquidation) (A Company Incorporated in the Cayman Islands) v Daiwa Capital Markets Europe Ltd [2019] UKSC 50, that a claimant had successfully argued…

Business Crime, Legal Blog & Publications, Commercial, Financial Services 8 Apr, 2022

How can corporates manage bribery risk as they fight to survive COVID-19

As the lockdown persists and businesses become more desperate, Fiona Horlick QC and Jeremy Scott-Joynt look at why this could mean more corporate bribery and corruption. With spare bedrooms or kitchen table corners continuing to do double duty as office space, many businesses – particularly those whose trade has shrunk – will be aching for a return to normality. However, normal may not return for a long time. Supply chains may shorten. Working practices may change. Long-settled business relationships may be sundered as partners may have ceased to trade. Battered businesses will be desperate for new deals as they seek to keep their staff working. In other words, it’s a perfect time to bribe someone – and the ultimate test…

Covid-19, Business Crime, Business Crime during Covid-19, News 24 Apr, 2020

Corporate Fraud in the Covid-19 Crisis – Guidance Note

Nick Johnson QC and Sophie O’Sullivan look at corporate fraud in the Covid-19 crisis, the changing risks and how to protect your business. The UK Government’s coronavirus (Covid-19) response has had profound effects on every business sector. The UK is on “lockdown”. Corporations and businesses, whose activities are underpinned by technologies such as verified transactions, encrypted communications and secure server networks, are having to find ways to conduct their core functions remotely, separated from colleagues and support departments, in circumstances where each person is, generally, unmonitored. There are very few – if any – corporate entities that had the practical and technological infrastructures in place prior to this crisis taking hold, which would have enabled them to adapt seamlessly to…

Covid-19, Business Crime, Business Crime during Covid-19, News 2 Apr, 2020

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