Criminal Finance Act 2017: Crime still doesn’t pay – 5SAH

‘Financial gain provides the motivation behind all serious and organised crime. Billions of pounds are laundered through the UK every year. Understandably, it has long been the government’s policy to implement effective legislation to tackle this issue.’

Full Story

5SAH, 2nd December 2019

Source: www.5sah.co.uk

Hawala: why it is used and what family practitioners should know about it – Family Law Week

‘Byron James, Partner and Head of Expatriate Law in Dubai, explains the challenges presented to family lawyers by the effective method of anonymous international money transfer system used around the world.; why and what family practitioners should know about it.’

Full Story

Family Law Week, 20th November 2019

Source: www.familylawweek.co.uk

Bart Casella writes about Unexplained Wealth Orders and changes to applications for Account Freezing Orders – 23 Essex Street

Posted November 7th, 2019 in accounts, HM Revenue & Customs, London, money laundering, news by sally

‘Before UWOs came into force on 31 January 2018, I provided seminars to solicitors on the potentially far reaching effects that the orders could have, including on mortgagees and trustees of property held by individuals who qualified for an order or in relation to enforcement by HMRC in respect of inappropriate tax planning. The reality is that the investigating authorities in the UK have thus far concentrated on the ‘low hanging fruit’.’

Full Story

23 Essex Street, 4th November 2019

Source: www.23es.com

Dozens of law firms enabling corruption, report finds – Legal Futures

Posted October 25th, 2019 in corruption, law firms, money laundering, news, professional conduct, statistics by sally

‘Dozens of UK law firms are – wittingly or unwittingly – providing corrupt individuals with services that enable them to “move, hide and defend their ill-gotten gains with impunity”, Transparency International (TI) has claimed.’

Full Story

Legal Futures, 25th October 2019

Source: www.legalfutures.co.uk

Former milkman sentenced for money laundering – Crown Prosecution Service

‘A former milkman who got into financial difficulties has been sentenced for money laundering.’

Full Story

Crown Prosecution Service, 26th September 2019

Source: www.cps.gov.uk

Solicitor General’s speech at Cambridge Symposium on Economic Crime 2019 – Attorney General’s Office

‘The Solicitor General discusses some of the UK’s key successes in tackling economic crime and the UK government’s ambitious Economic Crime Plan.’

Full speech

Attorney General’s Office, 2nd September 2019

Source: www.gov.uk/ago

Ladbrokes Coral fined after customer lost £98,000 – BBC News

Posted July 31st, 2019 in consumer protection, fines, gambling, money laundering, news by sally

‘The owner of Ladbrokes Coral has been fined £5.9m for not protecting vulnerable customers and for failings in its anti-money laundering measures.’

Full Story

BBC News, 31st July 2019

Source: www.bbc.co.uk

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.’

Full Story

The Independent, 13th July 2019

Source: www.independent.co.uk

Fears UK law change could prevent scrutiny of money launderers – The Guardian

Posted July 11th, 2019 in EC law, media, money laundering, news by sally

‘Plans to introduce laws in Britain to combat money laundering could prevent the media and researchers from accessing vital information on the tide of dirty cash flowing around the world, campaigners and journalists have warned.’

Full Story

The Guardian, 9th July 2019

Source: www.theguardian.com

Man jailed for laundering more than £10m through Jewish charity – The Guardian

Posted July 9th, 2019 in benefits, charities, fraud, money laundering, news, sentencing by sally

‘A man has been jailed for almost 10 years for selling counterfeit erectile dysfunction and slimming pills and laundering more than £10m through bank accounts linked to a Jewish charity.’

Full Story

The Guardian, 5th July 2019

Source: www.theguardian.com

City council secures £350k in compensation for victims defrauded by local plumbing companies – Local Government Lawyer

‘The victims of two plumbing companies who defrauded their clients have been fully compensated for their financial losses, after Southampton City Council prosecuted the individuals involved.’

Full Story

Local Government Lawyer, 4th July 2019

Source: www.localgovernmentlawyer.co.uk

Inside the 21st-century British criminal underworld – The Guardian

‘There are almost 5,000 criminal gangs in the UK. But the old family firms are gone – today’s big players are multinational, diversified and tech-savvy.’

Full Story

The Guardian, 4th July 2019

Source: www.theguardian.com

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.’

Full press release

Law Commission, 18th June 2019

Source: www.lawcom.gov.uk

Anti-money laundering supervisor “should practise what it preaches” – Legal Futures

Posted June 14th, 2019 in barristers, consultations, money laundering, news, ombudsmen, regulations by sally

‘The body that oversees legal regulators’ anti-money laundering (AML) efforts needs to show the same level of transparency that it is demanding of them, the Bar Council has said.’

Full Story

Legal Futures, 14th June 2019

Source: www.legalfutures.co.uk

NCA investigates how owner afforded £80m London homes – BBC News

Posted May 29th, 2019 in corruption, money laundering, national crime agency, news by tracey

‘Three London homes worth more than £80m have been frozen by the High Court in the second-ever use of anti-corruption orders to stop foreigners laundering cash in the UK.’

Full Story

BBC News, 29th May 2019

Source: www.bbc.co.uk

UK property register ‘needed urgently’ to stop money laundering – The Guardian

‘Proposals for the first register of foreign-owned property aimed at preventing “McMafia-style” money laundering should be put in practice urgently and reinforced to plug potential loopholes, the government has been told.’

Full Story

The Guardian, 20th May 2019

Source: www.theguardian.com

Autonomy founder Mike Lynch faces UK high court and fresh charges in US – The Guardian

Posted March 25th, 2019 in confiscation, conspiracy, fraud, money laundering, news, proceeds of crime by sally

‘Autonomy founder Mike Lynch will on Monday begin his high court defence against accusations that he perpetrated a $5bn (£3.8bn) fraud, as US prosecutors unveiled fresh criminal charges accusing the British businessman of a cover-up.’

Full Story

The Guardian, 24th March 2019

Source: www.theguardian.com

AML oversight body finds legal regulators coming up short – Legal Futures

Posted March 14th, 2019 in financial regulation, money laundering, news by tracey

‘Nearly half of legal regulators do not have undertake enough supervision of anti-money laundering (AML) efforts, according to the organisation set up to scrutinise them.’

Full Story

Legal Futures, 14th March 2019

Source: www.legalfutures.co.uk

Defendant who defrauded council pension fund of £1m jailed for seven years – Local Government Lawyer

Posted January 30th, 2019 in fraud, local government, money laundering, news, pensions, sentencing by sally

‘A man who defrauded Westminster City Council’s pension fund of more than £1m has been jailed for seven years.’

Full Story

Local Government Lawyer, 29th January 2019

Source: www.localgovernmentlawyer.co.uk

Javid and Hammond team up to tackle £14bn of economic crimes – The Guardian

Posted January 14th, 2019 in bribery, budgets, corruption, enforcement, fraud, money laundering, news, statistics by tracey

‘The home secretary and chancellor are to launch a joint assault on fraud, bribery, corruption and money laundering. Sajid Javid and Philip Hammond will chair a new taskforce that will work with senior figures in the financial sector to tackle economic crime. This is a broad category covering a range of illegal activity, with the Home Office estimating its scale to be at least £14.4bn a year.’

Full Story

The Guardian, 14th January 2018

Source: www.theguardian.com