Connect with us

Hi, what are you looking for?

Editor’s Pick

British companies are failing to keep up with financial criminals

In-house lawyers working in major British companies are becoming increasingly concerned that the firms they work for are failing to keep up with the methods being used by criminals to carry out financial crime.

More than two-thirds of in-house lawyers surveyed by law firm Ashurst said they have concerns about their companies’ abilities to keep on top of the ways financial crime is evolving.

Meanwhile, 88 per cent of in-house lawyers polled said they are concerned their company will experience some form of financial crime over the coming year.

Lawyers polled said they anticipate their companies will face new threats, such as cybercrime, but warned they are often unable to prevent those threats or plan ways in which their firm’s will respond.

The situation is made worse by the mounting pressures in-house lawyers currently face, with more than a third of those lawyers polled admitting heavy workloads had seen them fall behind.

They warned new laws, making top-level executives more accountable, have seen increased pressure placed on in-house legal teams.

These pressures were further intensified by the regulatory challenges posed by Brexit and the wider economic uncertainty facing the UK and the rest of the world, the in-house lawyers said.

Ashurst Risk Advisory partner Nisha Sanghani said: “The research findings highlight the pressing need for c-suite executives to engage with their in-house legal team.”

The partner at Ashurst’s consultancy business said “truly effective risk management” acts to “manage current risks” while also “pre-empting and preparing for future ones.”

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



By Arjay L. Balinbin, Senior Reporter METRO Pacific Tollways Corp. (MPTC) said its unit NLEX Corp. expects to award the Candaba Third Viaduct project,...


1 of 3 ARMANI’s diffusion line, Armani Exchange, is trading in its old store look for a new one. During a short introduction to...


1 of 12 IN 2016, the Mobilio, a dynamic-looking people mover predicated on the Brio platform, was merrily minding its own business — and...


ANDREW L. TAN’s Global-Estate Resorts, Inc. will be building a luxury residential village in Trece Martires, Cavite from which it expects P1.3 billion in...


A BRIGHTLY colored hanging cocoon chair designed by the Campana brothers — EU.LOUISVUITTON.COM SHANGHAI — Louis Vuitton on Friday announced plans to open a...


PHOTO FROM SHELL PHILIPPINES The Shell Mamplasan mobility site located on the South Luzon Expressway, Biñan, Laguna has switched to renewable energy from Shell...

You May Also Like


BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...


KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...


REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...


COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...

Disclaimer: Respect, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.