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Comment from Kroll on the Introduction of the UK Criminal Finances Act
Following the introduction of the UK Criminal Finances Act this weekend, which gives greater powers to UK tax authorities for carrying out tax evasion investigations around the world if they involve a UK tax liability, Howard Cooper, Managing Director in Kroll’s Investigations and Disputes Practice commented:
“The Criminal Finances Act came into effect this weekend (30th September) enabling UK tax authorities to carry out tax evasion investigations around the globe if they involve a UK tax liability. The rules make it a criminal offence if a business fails to prevent associated persons – employees, agents, sub-contractors, professional advisers or joint venture partners – from enabling tax evasion, facing unlimited fines for those found guilty. This effectively means that businesses could face large financial penalties for failing to prevent tax evasion, even if they weren’t personally implicated in it.
“Last autumn the Chancellor announced that the government aimed to raise an extra £2 billion by 2022 by targeting tax avoidance, and the growing international outlook of HMRC is very much part of that mission. Tax authorities have a growing international reach, so businesses need to remain more prudent and diligent than ever to ensure they remain compliant. HMRC has already started to see a flow of data from tax authorities around the world following the global Common Reporting Standard, developed by the Organisation for Economic Co-operation and Development (OECD) to automatically exchange tax and financial information on a global level to combat tax evasion.
“The Criminal Finances Act requires businesses to actively identify areas of risk and consider the steps they need to take to mitigate tax evasion. They need to take a range of steps to protect themselves including introducing compliance programmes, training, due diligence of third parties and regular monitoring to ensure that they are implementing these steps effectively.”
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Ingenico, a global leader in payment acceptance solutions, and Arrive, a leading global mobility platform, today announced a strategic partnership to deliver reliable, seamless payment experiences for on-street parking and transport ticket vending machines across more than 30 countries worldwide.
Zurich Scales Agentic AI to Five Countries in 90 Days Cutting Manual Risk Processing Time by 80%
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JCB and Wonder Advance Cashless Taxi Payments in Hong Kong
JCB International Co., Ltd, the international operations subsidiary of JCB Co., Ltd, Japan’s only international payment brand, and Wonder Ventures Limited, a leading payments and fintech platform in the Asia Pacific, announced that JCB Cards are now accepted on Wonder Taxi in Hong Kong.
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Nuvo and Avalara Launch AI Integration to Eliminate Tax Compliance Gaps and Accelerate B2B Customer Onboarding
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Sygnum Completes First Live AI-Agent Driven Digital Asset Transactions by a Regulated Swiss Bank
Sygnum, a global digital asset banking group, today announced it has become the first Swiss regulated bank to use an AI agent to test live digital asset market transactions, with the client retaining custody, consent and control at every step. This is the latest initiative from AI@Sygnum which leads the development, integration and governance of agent-driven workflows across the group globally.
CMC Markets Launches Spectre Trading Account for Retail Clients
CMC Markets (“CMC”), a FTSE 250 company and global leader in multi-asset online trading and investing, has launched Spectre for retail clients, following strong demand after the product was initially introduced for professional traders.
Ingenico and Arrive Partner to Power Seamless Payments for On‑Street Parking and Urban Transport Worldwide
Ingenico, a global leader in payment acceptance solutions, and Arrive, a leading global mobility platform, today announced a strategic partnership to deliver reliable, seamless payment experiences for on-street parking and transport ticket vending machines across more than 30 countries worldwide.
Zurich Scales Agentic AI to Five Countries in 90 Days Cutting Manual Risk Processing Time by 80%
Zurich Insurance has completed a breakthrough 90‑day deployment of Cytora’s agentic AI‑powered risk digitization platform across five countries. The programme will now scale to more than 20 markets over 16 months.
JCB and Wonder Advance Cashless Taxi Payments in Hong Kong
JCB International Co., Ltd, the international operations subsidiary of JCB Co., Ltd, Japan’s only international payment brand, and Wonder Ventures Limited, a leading payments and fintech platform in the Asia Pacific, announced that JCB Cards are now accepted on Wonder Taxi in Hong Kong.
AS Colour Partners with Adyen to Complete the Global Customer Picture
Adyen, the global financial technology platform of choice for leading businesses, has announced its partnership with AS Colour, a designer and wholesaler of premium "blank" apparel, to streamline its global payment infrastructure and enhance the digital customer experience. Since partnering with Adyen in October 2025, AS Colour has consolidated multiple legacy payment providers into one global commerce platform, connecting its payments across all operating regions.
Nuvo and Avalara Launch AI Integration to Eliminate Tax Compliance Gaps and Accelerate B2B Customer Onboarding
Nuvo Technologies, the AI-native customer-to-cash platform, today announced an integration with Avalara, the agentic AI leader in global tax and compliance. The integration connects Nuvo’s AI-powered onboarding with Avalara’s exemption certificate management and real-time tax calculation capabilities—enabling B2B suppliers to handle credit applications and tax compliance in a single, unified experience. The result is a single workflow where suppliers can approve customers and ensure tax compliance at the same time.