Individuals And Corporates Beware – Financial Issues, International Cooperation And The Middle East

Enhanced information and evidence sharing could lead to increased scrutiny and wider law enforcement ability to investigate and prosecute both individuals and corporates alleged to be conducting illicit financial activities in, or through, the Middle East.

Gherson Solicitors continue to offer expert advice and assistance to those who fear they may have outstanding financial issues arising in that region. That advice tackles:

1. How to best approach a possible INTERPOL red notice;
2. Preparing for potential criminal proceedings / an extradition request;
3. Preparing for a situation where a civil matter or commercial dispute could be used to initiate bogus criminal proceedings; and
4. Even exploring the possibility of instigating civil litigation proceedings to recover any misappropriated assets.

Improved information (and evidence!) sharing?

The UK has shown increased focus and interest on the Middle East recently. On 23 November 2021, GIR reported how, according to a lawyer, the Serious Fraud Office (“SFO”) is finding it easier to obtain evidence from some countries in the Middle East, as a result of enhanced cooperation with gulf states. On 17 September 2021, a Home Office News Story reported how the UK and United Arab Emirates (“UAE”) had launched a new partnership to tackle illicit financial flows.

Some sources report that the Middle East is a conduit for ill-gotten gains. Improved information and evidence sharing between the UK and the Middle East has the potential to assist law enforcement agencies in illicit finance investigations touching on the Middle East. Following the enhanced cooperation, those investigations, instigated against both individuals and corporations, will likely breed a higher chance of prosecution. Further, enhanced cooperation will not just assist law enforcement agencies to investigate cases where financial criminality is centred there, but also to potentially obtain that final piece of the jigsaw in international investigations where illicit flows are alleged to have passed through the Middle East.

The news that the SFO is reportedly able to more easily obtain evidence from the Middle East is significant, too. The Home Office News Story makes some promising claims, including enhanced intelligence sharing and joint operations. However, the facilitation of easier transfer of evidence between the two jurisdictions will arguably have a more significant effect on investigations, and perhaps enable the SFO to take more cases to the prosecution stage.

What does this mean for individuals and corporations?

As such, both individuals and corporates who have conducted business in the Middle East and are worried about potential liability, perhaps even due to an outstanding civil dispute, would do well to now have one eye over their shoulder, for any financial dealings could now be put under much wider scrutiny than previously anticipated.

With regards to investigations against individuals, the potential for enhanced cooperation and easier access to evidence from the Middle East may ultimately result in charges against those who are based in the UK, extradition requests being issued against those based in the Middle East (or elsewhere), or INTERPOL red notices more readily leading to extradition proceedings.

With regards to investigations against corporates, with the Bribery Act 2021 giving extra-territorial powers, any measure which will increase the SFO’s capabilities to obtain evidence from Middle Eastern jurisdictions will certainly widen the SFO’s scope to hold companies with a UK presence to account. A reality that applies in cases where it is alleged that criminal conduct has occurred, and illicit money flowed, abroad.

How Gherson Can Assist

Gherson has extensive experience advising those with a presence in the Middle East, including expertise in assisting with all aspects of extradition, INTERPOL and Red Notice challenges and defending against international criminal investigations and white-collar crime and related civil litigation issues.

If you would like to speak to us in respect of any of the issues raised in this blog or about your specific circumstances, do not hesitate to contact us for advice, send us an e-mail, or alternatively, follow us on Twitter, Facebook, or LinkedIn to stay-up-to-date.

The information in this blog is for general information purposes only and does not purport to be comprehensive or to provide legal advice. Whilst every effort is made to ensure the information and law is current as of the date of publication it should be stressed that, due to the passage of time, this does not necessarily reflect the present legal position. Gherson accepts no responsibility for loss which may arise from accessing or reliance on information contained in this blog. For formal advice on the current law please do not hesitate to contact Gherson. Legal advice is only provided pursuant to a written agreement, identified as such, and signed by the client and by or on behalf of Gherson.

©Gherson 2021