BLL in the news — May 2021

An overview of our press this month

Anita Clifford speaks to Thomson Reuters about SFO launch of GFG investigation

On 17 May 2021, Anita Clifford was quoted by Thomson Reuters in its publication ‘Regulatory Intelligence’ on the announcement that the Serious Fraud Office (SFO) has commenced investigating Gupta Family Group Alliance, including its relationship with Greensill Capital. Anita expanded on what the SFO is likely to be focusing on in its investigation of money laundering and fraud and commented on the timing of the investigation which follows media attention around the difficulties faced by Greensill Capital.

Bright Line Law discusses recent confiscation decision relating to Chinese money movement

A recent Crown Court decision has determined that almost the entire turnover of unlicensed money transmission may be confiscated following conviction. Anita Clifford joined fellow specialist legal practitioners and enforcement authorities in commenting on the case of Jiang and the ruling of 19 March 2021 for a piece in published 10 May 2021. Previously the conventional position was that only the profits of such businesses were vulnerable to confiscation. The case reflects a significant development in the recoverability of the proceeds of unregistered Money Service Businesses. Click here to read the article in full (paywall).