New watchdog to oversee profession’s anti-money laundering regime – Law Society’s Gazette

Posted March 17th, 2017 in money laundering, news, solicitors by tracey

‘The Treasury is to open a new front in the fight against money laundering by creating a watchdog that will tackle potential weaknesses in the supervision of lawyers and other professionals.’

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Law Society’s Gazette, 17th March 2017

Source: www.lawgazette.co.uk

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Law firm insurer fails in High Court bid to recover property fraud losses from solicitor – Legal Futures

Posted February 17th, 2017 in fraud, insurance, money laundering, news, solicitors by sally

‘A highly experienced solicitor who breached the Money Laundering Regulations 2007 in a property transaction that led to a £500,000 fraud did not act dishonestly, the High Court has ruled.’

Full story

Legal Futures, 17th February 2017

Source: www.legalfutures.co.uk

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HBOS manager and other City financiers jailed over £245m loans scam – The Guardian

‘A group of bankers who ran an “utterly corrupt scheme” that left hundreds of small business owners “cheated, defeated and penniless” have been sentenced to almost 50 years in jail.’

Full story

The Guardian, 2nd February 2017

Source: www.guardian.co.uk

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Former HBOS manager found guilty of corruption and fraud – BBC News

Posted January 31st, 2017 in banking, corruption, fraud, money laundering, news by sally

‘Six people, including two former HBOS bankers, have been found guilty of bribery and fraud that cost the bank’s business customers and shareholders hundreds of millions of pounds.’

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BBC News, 30th January 2017

Source: www.bbc.co.uk

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New crackdown on corporate economic crime – Ministry of Justice

Posted January 17th, 2017 in consultations, false accounting, fraud, money laundering, press releases by tracey

‘New laws will be considered as part of a crackdown on corporate economic crime, ministers announced today.’

Full press release

Ministry of Justice, 13th January 2017

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

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Lawyers divided on new white-collar crime offences – Law Society’s Gazette

‘US-style ‘vicarious liability’ and new ‘failure to prevent’ offences are under consideration in long-awaited government proposals to reform the law on corporate criminal liability published today. Initial reaction from corporate crime specialists was divided, with some lawyers seeing the proposals as a climb-down while others described them as a new burden on business.’

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Law Society’s Gazette, 13th January 2017

Source: www.lawgazette.co.uk

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Bookmakers face losing their licence and huge fines over problem gambling The Guardian

Posted January 16th, 2017 in fines, gambling, licensing, money laundering, news, regulations, sanctions by sally

‘Gambling firms that fail to tackle problem gambling and money laundering face heftier fines and a higher risk of losing their operating licence under a tougher regime to be unveiled by the industry’s regulator.’

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The Guardian, 15th January 2017

Source: www.guardian.co.uk

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Three men jailed over light aircraft drop of £2.5m of cocaine in Kent – The Guardian

Posted January 9th, 2017 in drug trafficking, money laundering, national crime agency, news, sentencing by sally

‘Three men have been jailed for smuggling cocaine worth £2.5m into Britain and dropping it from a light aircraft on the day of the EU referendum.’

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The Guardian, 6th January 2017

Source: www.guardian.co.uk

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Human rights abusers who buy London homes could have assets seized – The Guardian

Posted December 5th, 2016 in bills, human rights, money laundering, news, sale of land by sally

‘Dictators and human rights abusers who buy luxury property in London and use the UK to conceal their wealth could have their assets seized under an MPs’ initiative.’

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The Guardian, 4th December 2016

Source: www.guardian.co.uk

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Home Secretary’s speech to the FCA’s Financial Crime Conference – Home Office

‘Home Secretary Amber Rudd gave a speech on economic crime at the Financial Conduct Authority annual crime conference on 10 November 2016.’

Full speech

Home Office, 14th November 2016

Source: www.gov.uk/home-office

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Couple jailed for laundering £50m – The Guardian

Posted October 31st, 2016 in money laundering, news, sentencing by sally

‘A couple who ran a diamond trading business have been jailed for laundering about £50m for organised crime gangs in less than two years.’

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The Guardian, 28th October 2016

Source: www.guardian.co.uk

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New legislation to attack criminal finances – Home Office

Posted October 17th, 2016 in corruption, money laundering, press releases, proceeds of crime, terrorism by tracey

‘New legislation to tackle money laundering and corruption, recover the proceeds of crime and counter terrorist financing was published today.’

Full press release

Home Office, 13th October 2016

Source: www.gov.uk/home-office

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Ringleader of gang responsible for £113m fraud jailed for 11 years – The Guardian

Posted September 22nd, 2016 in computer crime, conspiracy, fraud, gangs, money laundering, news, sentencing by sally

‘The head of a fraud ring has been sentenced to 11 years in prison for his part in a £113m scam, which funded purchases including a fleet of customised Porsches and shopping sprees at Harrods.’

Full story

The Guardian, 21st September 2016

Source: www.guardian.co.uk

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Bosses could face jail for failure to prevent fraud – BBC News

Posted September 12th, 2016 in bills, employment, fraud, money laundering, news, tax evasion by sally

‘Company bosses could be prosecuted for failing to stop their staff committing fraud under new laws being considered by ministers.’

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BBC News, 12th September 2016

Source: www.bbc.co.uk

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Brexit, risk mitigation & corporate crime – Halsbury’s Law Exchange

Posted August 12th, 2016 in bribery, corruption, EC law, fraud, money laundering, news, referendums, sanctions, warrants by sally

‘After the shock waves felt as a result of the Brexit vote, how should companies deal with corporate governance and criminal risk issues? What should companies be monitoring as they await changes that will take place once the Brexit Article 50 trigger is pulled?’

Full story

Halsbury’s Law Exchange, 9th August 2016

Source: www.halsburyslawexchange.co.uk

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Cybercriminal “Sir King Cash” ordered to pay back over half a million pounds – Crown Prosecution Service

‘Fraudster Sean Benson, who went by the screen name “Sir King Cash”, has been ordered to pay back £554,000 by a judge at Southwark Crown Court. Benson now has three months in which to pay back the money or face a further five years in jail. All of the money will be paid back to the victims of the fraud.’

Full press release

Crown Prosecution Service, 29th July 2016

Source: www.cps.gov.uk

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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.’

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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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