ENGLAND & WALES Law and Practice Contributed by: John Kaye and Piers Desser, Carson Kaye
• forum bar (where prosecution should occur in the UK); • human rights bar, particularly under Article 3 and Article 8 of the European Convention on Human Rights (ECHR) (risk of inhuman treatment or dispro - portionate interference with family/private life); and • specialty protections (limiting prosecution to extra - dited offences). The UK does not maintain a general list of prohibited countries. However, extradition arrangements differ in practice: Part 1 territories (largely European jurisdic - tions) operate under a streamlined system, while Part 2 territories (including the United States and many Commonwealth and non-EU states) require more detailed evidence and assurances. Extradition may still be refused in individual cases where statutory bars are engaged, regardless of the requesting country. 2. Enforcement Architecture 2.1 Investigative and Enforcement Authorities The responsibility for financial crime enforcement is shared across several specialist agencies, reflecting the complexity and scale of modern economic crime. The principal investigative bodies include the NCA, which leads on serious and organised economic crime and international cases, and the SFO, which inves - tigates and prosecutes complex fraud, bribery and corruption cases. The City of London Police is the national lead force for fraud, operating the Action Fraud reporting system. The Financial Conduct Authority (FCA) also plays a major investigative role in market abuse and regulat - ed-sector misconduct, using both criminal and regula - tory powers. HMRC investigates tax fraud and related evasion offences. Prosecution is primarily undertaken by the CPS for most financial crime, whilst the SFO prosecutes its own cases. The CPS Fraud and Special Crime Divi - sion handles complex fraud and cross-border matters referred by law enforcement agencies.
There are also strong parallel enforcement regimes. Criminal proceedings may run alongside civil recovery actions (notably under POCA) and regulatory enforce - ment by the FCA or HMRC. Regulators can impose administrative sanctions, including fines, licence restrictions and disgorgement, often without needing to secure criminal convictions. Civil recovery tools are also used by agencies such as the NCA to recover proceeds of unlawful conduct even where no conviction is obtained. Co-ordination is achieved through structured co-oper - ation mechanisms, including joint task forces (such as the UK’s Economic Crime Strategic Board), formal referral protocols and memoranda of understanding between agencies. In major cases, agencies often form joint investigation teams, combining criminal, civil and regulatory powers to ensure consistent strat - egy and reduce duplication. 2.2 Initiation of Investigations Financial crime investigations are typically initiated through a combination of intelligence-led and com - plaint driven mechanisms. A major source is Suspicious Activity Reports (SARs) submitted to the UK Financial Intelligence Unit within the NCA under the POCA. These reports from banks, accountants and other regulated firms often trigger wider investigative work. Whistle-blowers are also important, particularly in reg - ulated sectors, with disclosures to the FCA or directly to law enforcement. The FCA also generates referrals through its supervisory and enforcement activities. Investigations may further arise from victim com - plaints, especially in fraud cases reported via Action Fraud, as well as from intelligence sharing with inter - national partners. Regulatory referrals from bodies such as the FCA, HMRC, or Companies House are also common, particularly where misconduct is identi - fied during compliance monitoring or inspections. Authorities generally retain significant discretion over both investigation and prosecution. The decision to investigate is typically guided by internal prioritisation
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