Couple must repay £10.4 million after ripping off struggling firms to live high life on yachts – Crown Prosecution Service

Posted September 13th, 2019 in assets recovery, banking, bankruptcy, fraud, loans, news, proceeds of crime by tracey

‘A couple who made a fortune bankrupting companies to fund their lavish lifestyle have today been ordered to repay more than £10million.’

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Crown Prosecution Service, 12th September 2019

Source: www.cps.gov.uk

HMRC faces legal fight for handing Britons’ data to US tax officials – The Guardian

‘HMRC is facing a legal battle to block it from handing personal details about British citizens to US tax authorities. The case could have wide-ranging implications for tens of thousands of so-called accidental Americans who left the US when they were months or years old but risk having their British bank accounts frozen for failing to comply with the US tax requirements.’

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The Guardian, 12th September 2019

Source: www.theguardian.com

NCA freezes £100m suspected to be from corruption overseas – The Guardian

‘More than £100m suspected to have been imported to the UK from bribery and corruption overseas has been frozen following a court order obtained by the National Crime Agency.’

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The Guardian, 14th August 2019

Source: www.theguardian.com

Government criticised for giving banks key oversight role over fraud and money laundering policy – The Independent

Posted July 15th, 2019 in banking, financial regulation, fraud, money laundering, news by tracey

‘Government plans to combat money laundering, fraud and other economic crimes have come under fire for allowing banks that have previously been implicated in wrongdoing to play a key role in writing the new rules.’

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The Independent, 13th July 2019

Source: www.independent.co.uk

New guidance needed to improve anti-money laundering regime – Law Commission

‘A new advisory board and statutory guidance would reduce wasted time and improve the UK’s ability to tackle money laundering and terrorist financing, the Law Commission has announced.’

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Law Commission, 18th June 2019

Source: www.lawcom.gov.uk

City regulator bans high overdraft fees to reform ‘dysfunctional’ market – The Guardian

‘The City regulator has accused UK banks of causing “significant harm” to their most vulnerable customers as it pushes ahead with a ban on excessive overdraft fees.’

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The Guardian, 7th June 2019

Source: www.theguardian.com

Banking code to protect victims tricked into transferring money to fraudsters – The Independent

Posted May 28th, 2019 in banking, codes of practice, fraud, news, victims by tracey

‘Blameless scam victims who are tricked into transferring money directly to a fraudster should find they are better protected under a new voluntary industry code that comes into force from Tuesday.’

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The Independent, 27th May 2019

Source: www.independent.co.uk

High court judge leads inquiry into London Capital & Finance scandal – The Guardian

‘The government has launched an independent inquiry into the collapse of London Capital & Finance, the investment firm at the centre of a mounting £236m financial scandal in which thousands of investors lost money. Dame Elizabeth Gloster, a leading high court judge specialising in corporate failures, finance and fraud, will lead the investigation into the company and the oversight of the City watchdog ahead of its collapse.’

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The Guardian, 23rd May 2019

Source: www.theguardian.com

Jury dismissed in Barclays fraud trial – BBC News

Posted April 9th, 2019 in banking, conspiracy, fraud, juries, misrepresentation, news by sally

‘The jury in the fraud trial against four former Barclays bankers – including the former chief executive, John Varley – has been dismissed.’

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BBC News, 8th April 2019

Source: www.bbc.co.uk

City watchdog told to review London Capital & Finance collapse – The Guardian

‘Government orders FCA inquiry into £236m scandal surrounding investment firm.’

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The Guardian, 1st April 2019

Source: www.theguardian.com

City watchdog fines Goldman Sachs £34.4m for misreporting – The Guardian

Posted March 29th, 2019 in banking, financial regulation, fines, news, ombudsmen by tracey

‘Goldman Sachs has been fined £34.4m by the City regulator for misreporting millions of transactions over a decade.’

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The Guardian, 28th March 2019

Source: www.theguardian.com

MPs call for inquiry into alleged forgery of signatures – BBC News

Posted March 29th, 2019 in banking, documents, expert witnesses, forgery, fraud, inquiries, news, sentencing by tracey

‘MPs are pressing the Treasury Select Committee to open an immediate inquiry into the alleged forgery of signatures in bank court documents.’

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BBC News, 29th March 2019

Source: www.bbc.co.uk

FCA to focus on affordability and culture in regulation of consumer credit – OUT-LAW.com

Posted March 27th, 2019 in banking, consumer credit, financial regulation, loans, news by sally

‘The UK’s Financial Conduct Authority (FCA) has set out its priorities for the future regulation of the consumer credit sector, including the impact of the Senior Managers and Certification Regime (SMCR).’

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OUT-LAW.com, 27th March 2019

Source: www.out-law.com

Supreme Court: income tax must be deducted from creditor interest – OUT-LAW.com

‘Income tax must be deducted before administrators can pay out statutory interest to the creditors of an insolvent company, the UK’s highest court has confirmed.’

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OUT-LAW.com, 14th March 2019

Source: www.out-law.com

Are banks guilty of faking signatures on British court papers? – The Guardian

Posted February 18th, 2019 in banking, documents, forgery, news, repossession by sally

‘Have some banks, or their legal representatives, been faking signatures on UK court documents used to repossess people’s homes and to recover other debts?’

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The Guardian, 16th February 2019

Source: www.theguardian.com

RBS sued by Newham council over the terms of £150m in loans – The Guardian

Posted February 7th, 2019 in banking, interest, loans, local government, news, time limits by tracey

‘Newham council is suing Royal Bank of Scotland over the terms of about £150m in complex bank loans, making it the latest UK bank to face a lawsuit over lending terms that critics say piled undue pressure on local services.’

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The Guardian, 6th February 2019

Source: www.theguardian.com

Scam victims whose losses are not ‘life changing’ will receive no redress, under bank plans – Daily Telegraph

‘Scam victims whose losses are not considered to be “life changing” could be excluded from a new compensation scheme under proposals by one of Britain’s biggest banks.’

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Daily Telegraph, 24th January 2019

Source: www.telegraph.co.uk

Lengthy jail terms for scammers who tried to bribe bank staff – Crown Prosecution Service

Posted January 18th, 2019 in banking, bribery, fraud, news, sentencing by tracey

‘Two accomplices who offered bribes to bank staff in an attempt to swindle hundreds of thousands of pounds were jailed today (January 17).’

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Crown Prosecution Service, 17th January 2019

Source: www.cps.gov.uk

Fraud trial of former Barclays bosses puts SFO under scrutiny – The Guardian

Posted January 7th, 2019 in banking, conspiracy, fraud, news, Serious Fraud Office, trials by sally

‘A long-awaited fraud trial of four former Barclays executives will begin this week over charges related to a £12bn rescue package secured from investors including Qatar at the height of the financial crisis.’

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The Guardian, 6th January 2019

Source: www.theguardian.com

FCA under fire over Lloyds compensation scheme – BBC News

Posted December 17th, 2018 in banking, compensation, financial regulation, fraud, news, victims by sally

‘The Financial Conduct Authority (FCA) has been criticised for allowing Lloyds Banking Group to set up a “flawed” compensation scheme for victims of a massive fraud.’

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BBC News, 17th December 2018

Source: www.bbc.co.uk