‘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.’
The Guardian, 20th May 2019
Source: www.theguardian.com
‘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.’
The Guardian, 24th March 2019
Source: www.theguardian.com
‘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.’
Legal Futures, 14th March 2019
Source: www.legalfutures.co.uk
‘A man who defrauded Westminster City Council’s pension fund of more than £1m has been jailed for seven years.’
Local Government Lawyer, 29th January 2019
Source: www.localgovernmentlawyer.co.uk
‘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.’
The Guardian, 14th January 2018
Source: www.theguardian.com
‘A solicitor who was the “go to” lawyer for a gang of criminals because he would not ask too many questions about where their money came from has been jailed for seven years.’
Legal Futures, 8th January 2019
Source: www.legalfutures.co.uk
‘The “multiplicity” of legal and accountancy regulators in the UK is not helping the fight against money laundering, the Financial Action Task Force (FATF) has complained.’
Legal Futures, 12th December 2018
Source: www.legalfutures.co.uk
‘Two of the UK’s largest bookmakers are facing compensation claims worth £1.5m over allegations that they allowed a gambling addict to bet hundreds of thousands of pounds in stolen cash.’
The Guardian, 10th December 2018
Source: www.theguardian.com
‘Ministers are halting a “gold-plated” visa scheme offering foreign investors a fast-track to settling in the UK, as part of a crackdown on financial crime.’
BBC News, 5th December 2018
Source: www.bbc.co.uk
‘Three online casino companies have been fined and one has been prevented from operating in the UK following a crackdown by the industry regulator. The Gambling Commission has fined three firms almost £14m for not having “effective safeguards” to prevent money laundering and harm to customers from gambling.’
BBC News, 29th November 2018
Source: www.bbc.co.uk
‘Regulators have vowed to take action against any solicitor found to have neglected their wider obligations simply to keep a client happy.’
Law Society's Gazette, 27th November 2018
Source: www.lawgazette.co.uk
‘The regulation of cryptoassets is likely to get tighter in the UK, starting from next year, according to a new report by a body tasked with exploring whether new rules are needed to address their growing popularity.’
OUT-LAW.com, 31st October 2018
Source: www.out-law.com
‘Paddy Power Betfair has been fined £2.2m for failing to stop stolen money being gambled through its website and for failing to protect customers showing signs of problem gambling.’
BBC News, 16th October 2018
Source: www.bbc.co.uk
‘A new specialist unit will identify and freeze bank accounts linked to organised crime behind bars, Justice Secretary David Gauke announced today.’
Ministry of Justice, 2nd October 2018
Source: www.gov.uk/government/organisations/ministry-of-justice
‘The wife of a foreign banker faces losing UK property worth millions of pounds unless she can explain the source of her wealth, following a judgment at the high court.’
The Guardian, 3rd October 2018
Source: www.theguardian.com
‘A woman who hid $3.5 million in corrupt payments by letting it pass through her foreign bank accounts has been given a suspended prison sentence today (25 September).’
Crown Prosecution Service, 25th September 2018
Source: www.cps.gov.uk
‘Offshore owners of British property will be forced to reveal their true identities or face jail sentences and unlimited fines under draft laws that aim to end the UK’s reputation as a high-risk jurisdiction for money laundering.’
The Guardian, 23rd July 2018
Source: www.theguardian.com
© Inner Temple Library 2019