Gambling Commission orders Betfred to pay £800,000 – The Guardian

Posted June 15th, 2016 in compensation, gambling, inducements, money laundering, news, theft by sally

‘The bookmaker Betfred has agreed to an £800,000 settlement after accepting stolen cash from a “VIP” customer, who was allegedly offered free drinks and day trips to encourage him to keep betting.’

Full story

The Guardian, 14th June 2016

Source: www.guardian.co.uk

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We need full separation from Law Society to police money laundering, SRA tells Treasury – Legal Futures

‘The Solicitors Regulation Authority (SRA) has opened a second front in its campaign for full separation from the Law Society by appealing to the Treasury to intervene over the issue of money laundering.’

Full story

Legal Futures, 7th June 2016

Source: www.legalfutures.co.uk

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FCA warns banks on use of anti-money laundering rules to close accounts – The Guardian

Posted May 25th, 2016 in banking, charities, competition, EC law, fines, money laundering, news by sally

‘UK banks have been told by the City regulator they should not use anti-money laundering rules as an excuse to close accounts for charities, politicians and other clients just because they perceive them as risky.’

Full story

The Guardian, 24th May 2016

Source: www.guardian.co.uk

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Four Latvians jailed in UK for exploiting vulnerable migrants – The Guardian

Posted May 23rd, 2016 in fraud, gangs, immigration, marriage, money laundering, news, sentencing by sally

‘Four members of a Latvian organised crime gang who used vulnerable fellow migrants to launder stolen money and offered their indebted female eastern European workers as brides for hire have been sentenced to a total of 23 years in prison at Huntingdon crown court.’

Full story

The Guardian, 20th May 2016

Source: www.guardian.co.uk

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UK proposes ‘sweeping changes’ to corporate liability for economic crimes – OUT-LAW.com

‘The planned introduction of a new corporate criminal offence of failure to prevent fraud, money laundering and other economic crimes would have an “even bigger impact on businesses than the introduction of the Bribery Act”, a corporate crime expert has said.’

Full story

OUT-LAW.com, 13th May 2016

Source: www.out-law.com

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New plans to tackle corporate fraud – Ministry of Justice

Posted May 13th, 2016 in fraud, money laundering, press releases, tax evasion by tracey

‘New proposals to crack down on “economic crimes” such as fraud and money laundering are to be considered later this year.’

Full press release

Ministry of Justice, 12th  May 2016

Source: www.gov.uk/government/organisations/ministry-of-justice

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Legal Services Board makes the case for regulatory independence – Legal Futures

‘The lack of independence between the legal regulators and representative bodies risks undermining the credibility of regulation and allows the likes of the Law Society and Bar Council to delay reforms that would benefit competition, the Legal Services Board (LSB) said yesterday.’

Full story

Legal Futures, 11th May 2016

Source: www.legalfutures.co.uk

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Gang jailed over pensioner phone scam – BBC News

‘Eight men from London have been jailed for a phone scam that defrauded UK pensioners out of more than £1m.’

Full story

BBC News, 4th May 2016

Source: www.bbc.co.uk

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New ‘unexplained wealth orders’ among UK anti-money laundering reforms – OUT-LAW.com

Posted April 26th, 2016 in consultations, financial regulation, fraud, money laundering, news by sally

‘Those suspected of money laundering could be required to explain the origins of any unexpected wealth or risk forfeiture as part of a package of measures put forward for consultation by the UK government.’

Full story

OUT-LAW.com, 25th April 2016

Source: www.out-law.com

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Money laundering: New law planned to target corrupt officials – BBC News

‘MPs, councillors and civil servants suspected of corruption are to be targeted by a new law proposed by the home secretary.’

Full story

BBC News, 21st April 2016

Source: www.bbc.co.uk

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Biggest reforms to money laundering regime in over a decade – Home Office

Posted April 22nd, 2016 in money laundering, press releases, proceeds of crime, terrorism by tracey

‘The Home Secretary has set out the most significant changes to the UK’s anti-money laundering and terrorist finance regime in over a decade.’

Full press release

Home Office, 21st April 2016

Source: www.gov.uk/home-office

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Conveyancers on both sides held liable for fraud in landmark case – Legal Futures

Posted April 19th, 2016 in breach of trust, contracts, conveyancing, fraud, money laundering, news, solicitors by sally

‘The conveyancers on both sides of a property fraud have been found jointly liable for the £470,000 loss suffered by the buyer.’

Full story

Legal Futures, 18th April 2016

Source: www.legalfutures.co.uk

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National Crime Agency demands quicker access to offshore firm records – The Guardian

‘The UK crime agency is demanding quicker access to the corporate records of secretive offshore companies in Britain’s overseas territories including the British Virgin Islands, Bermuda and the Cayman Islands.’

Full story

The Guardian, 10th April 2016

Source: www.guardian.co.uk

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Four guilty of hijacking migrant workers’ bank accounts – The Guardian

‘Three men and a woman convicted of laundering criminally acquired money in Cambridgeshire after trial over offences relating to exploitation of workers.’

Full story

The Guardian, 22nd March 2016

Source: www.guardian.co.uk

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Former X Factor hopeful guilty of laundering phone scam cash – BBC News

Posted March 4th, 2016 in conspiracy, conversion, money laundering, news by tracey

‘A former X Factor contestant has been found guilty of laundering £20,000 from a phone scam that defrauded 18 pensioners across southern England.’

Full story

BBC News. 3rd March 2016

Source: www.bbc.co.uk

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Paddy Power ‘encouraged gambler until he lost his home, jobs and family’ – The Guardian

Posted March 1st, 2016 in gambling, money laundering, news, reports by sally

‘Bookmaker Paddy Power encouraged a problem gambler to keep betting until he lost five jobs, his home and access to his children, according to a report by the Gambling Commission.’

Full story

The Guardian, 29th February 2016

Source: www.guardian.co.uk

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The FCA and Upper Tribunal – Financial Services Blog

Posted February 22nd, 2016 in enforcement, financial services ombudsman, money laundering, news, tribunals by sally

‘The FCA’s “further decision notice” on Mr Tariq Carrimjee (senior partner and CEO of Somerset Asset Management) revealed that, the regulator has taken on board the Tribunal’s view that banning Mr Carrimjee from all regulated activity would be “irrational and disproportionate”, and it has instead decided to prohibit him from performing compliance oversight (CF10) and money laundering reporting functions (CF11).’

Full story

Financial Services Blog, 15th February 2016

Source: www.rpc.co.uk

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Call to tighten UK’s new property law to crack down on ‘dirty money’ – The Guardian

Posted February 15th, 2016 in corruption, London, money laundering, news, retrospectivity, sale of land, trusts by sally

‘New laws that aim to stop the UK being a magnet for money launderers – by forcing the owners of properties to reveal their identities – should be applied retrospectively, leading anti-corruption organisations whose work has strongly influenced the government are saying.’

Full story

The Guardian, 13th February 2016

Source: www.guardian.co.uk

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Pilot ‘Biggles’ jailed over £33m cocaine smuggling ring – The Guardian

Posted February 10th, 2016 in aircraft, conspiracy, drug trafficking, money laundering, news, sentencing by sally

‘A pilot nicknamed Biggles has been jailed for 19 years for smuggling £33.5m worth of cocaine into Britain.’

Full story

The Guardian, 9th February 2016

Source: www.guardian.co.uk

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Worker stole nearly £500,000 of council funds to pay for lavish wedding – The Guardian

Posted December 4th, 2015 in abuse of position of trust, care workers, fraud, money laundering, news, sentencing by tracey

‘A finance officer in one of London’s poorest boroughs has been jailed after she defrauded the council of almost £500,000, paying for a lavish wedding, a honeymoon in Dubai and extensive home renovations.’

Full story

The Guardian, 3rd December 2015

Source: www.guardian.co.uk

Comments Off on Worker stole nearly £500,000 of council funds to pay for lavish wedding – The Guardian