On 6 March, the Law Society Gazette reported on a Corruption Watch report that says that the US authorities brought in £22 billion more in penalties for financial crime committed by banks and financial institutions than the UK – even though half of the offending institutions were from the UK.  The campaign group said that a new offence of failing to prevent economic crime would improve Britain’s poor record of prosecuting business leaders for corporate offences.

The report on the Corporate Crime Gap, and which sets out how the UK lags the US in policing corporate financial crime, is available at –

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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