Number of SRA investigations into SLAPPs continues to rise – Legal Futures

‘The number of law firms being investigated for possible misconduct relating to strategic lawsuits against public participation (SLAPPs) has doubled since the summer to 40, the chief executive of the Solicitors Regulation Authority (SRA) revealed yesterday.’

Full Story

Legal Futures, 25th January 2023

Source: www.legalfutures.co.uk

SRA imposes record £20,000 fine for AML failings – Law Society’s Gazette

Posted January 19th, 2023 in fines, law firms, money laundering, news, Solicitors Regulation Authority by tracey

‘The Solicitors Regulation Authority has fined a firm a record £20,000 for failing to have anti-money laundering training and systems in place.’

Full Story

Law Society’s Gazette, 18th January 2023

Source: www.lawgazette.co.uk

Law firm fined record £20,000 for “reckless” AML breaches – Legal Futures

‘The Solicitors Regulation Authority (SRA) has fined an Oxfordshire law firm £20,000 after finding it “reckless” in failing to comply with the anti-money laundering (AML) requirements.’

Full Story

Legal Futures, 18th January 2023

Source: www.legalfutures.co.uk

TonyBet fined £442,750 and warned on failure to have fair and transparent terms – The Independent

Posted January 18th, 2023 in consumer protection, fines, gambling, money laundering, news, unfair contract terms by tracey

‘TonyBet has been fined 442,750 and warned about its failure to have fair and transparent terms, and for failing to follow social responsibility and anti-money laundering rules, the Gambling Commission said.’

Full Story

The Independent, 18th January 2023

Source: www.independent.co.uk

Sentence Update: Former Premier League star jailed for £15 million investment fraud – Crown Prosecution Service

Posted January 13th, 2023 in Crown Prosecution Service, fraud, imprisonment, money laundering, news, sentencing by tracey

‘A former Premier League star has been jailed today (12 January 2023) for defrauding friends, family members and associates out of £15 million.’

Full Story

Crown Prosecution Service, 12th January 2023

Source: www.cps.gov.uk

Anglesey: ‘Lavish life’ couple in fraud case sentenced – BBC News

Posted December 19th, 2022 in fraud, imprisonment, money laundering, news, sentencing by tracey

‘A husband and wife who lived a “lavish lifestyle” with other people’s money have been sentenced for their part in a multi-million pound fraud.’

Full Story

BBC News, 17th December 2022

Source: www.bbc.co.uk

Santander UK fined £108m over anti-money laundering failings – The Guardian

Posted December 9th, 2022 in banking, fines, money laundering, news, ombudsmen by michael

‘Santander UK has been fined more than £100m after an investigation by the British financial watchdog found “serious and persistent gaps” in its money laundering controls, resulting in hundreds of millions of pounds of suspicious transactions through customer accounts.’

Full Story

The Guardian, 9th December 2022

Source: www.theguardian.com

MPs back tougher economic crime fines and oversight for lawyers – Legal Futures

‘MPs have backed giving the Solicitors Regulation Authority (SRA) unlimited fining powers in cases of economic crime.’

Full Story

Legal Futures, 24th November 2022

Source: www.legalfutures.co.uk

Road haulage operators convicted of involvement in an over £100m money laundering scam – Crown Prosecution Service

‘Six defendants including a senior manager and two drivers of a road haulage business have been found guilty on Friday 18 November 2022 of running a large-scale money laundering operation involving in excess of £100 million in cash.’

Full Story

Crown Prosecution Service, 20th November 2022

Source: www.cps.gov.uk

Gang leader avoids an extra seven years in prison by paying back the proceeds of his part in a dirty cash laundering operation – Crown Prosecution Service

‘A well-known criminal gang leader has avoided another seven years being added onto his seven-year prison sentence after paying back £1,243,270.75, of his ill-gotten gains from a money laundering operation.’

Full Story

Crown Prosecution Service, 14th November 2022

Source: www.cps.gov.uk

Chambers “do not know money laundering status of barristers” – Legal Futures

Posted November 1st, 2022 in barristers, money laundering, news, notification, regulations by sally

‘A significant number of chambers do not know whether their barristers have declared that they are subject to the money laundering regulations (MLRs), the Bar Standards Board (BSB) has warned.’

Full Story

Legal Futures, 1 November 2022

Source: www.legalfutures.co.uk

Construction begins on brand new flagship London court in the Square Mile – Ministry of Justice

Posted October 21st, 2022 in computer crime, courts, fraud, London, Ministry of Justice, money laundering, news by tracey

‘The construction of a state-of-the-art combined court is underway in the heart of London’s legal centre as part of Salisbury Square, a new development on Fleet Street.’

Full Story

Ministry of Justice, 18th October 2022

Source: www.gov.uk

SRA “should police anti-money laundering across UK legal sector” – Legal Futures

‘A Solicitors Regulation Authority (SRA) with “beefed up” powers should be the single body policing money laundering across the UK legal sector, a report has recommended.’

Full Story

Legal Futures, 18th October 2022

Source: www.legalfutures.co.uk

Betfred fined almost £2.9m over gambling safety check failings – The Guardian

Posted September 28th, 2022 in consumer protection, fines, gambling, money laundering, news by michael

‘The bookmaker Betfred has been fined nearly £2.9m for failings in its social responsibility and money-laundering controls, after accepting tens of thousands of pounds from gamblers without performing adequate safety checks.’

Full Story

The Guardian, 28th September 2022

Source: www.theguardian.com

SRA fines firm with “failing” anti-money laundering controls – Legal Futures

Posted September 28th, 2022 in fines, law firms, money laundering, news, solicitors, Solicitors Regulation Authority by sally

‘A law firm with a “failing” anti-money laundering (AML) control environment, leading to multiple rule breaches, has been fined £2,000 by the Solicitors Regulation Authority (SRA).’

Full Story

Legal Futures, 27th September 2022

Source: www.legalfutures.co.uk

Law Society and Bar Council oppose economic crime reforms – Legal Futures

Posted September 27th, 2022 in barristers, disciplinary procedures, fines, fraud, money laundering, news, solicitors by sally

‘The Law Society and Bar Council have expressed concern about new economic crime provisions put forward by the government that target the legal profession.’

Full Story

Legal Futures, 27th September 2022

Source: www.legalfutures.co.uk

All UK express trusts must now register under anti-money laundering laws – OUT-LAW.com

Posted September 13th, 2022 in money laundering, news, regulations, terrorism, trusts by tracey

‘New UK government requirements for trust registration under the anti-money laundering (AML) and counter terrorist financing (CTF) regulations have come into force.’

Full Story

OUT-LAW.com, 12th September 2022

Source: www.pinsentmasons.com

Crypto market rife for new areas of litigation – Law Society’s Gazette

Posted September 9th, 2022 in cryptocurrencies, fraud, money laundering, news by tracey

‘The highly active cryptocurrency sector will spawn a raft of new areas of litigation, experts told the Law Society’s commercial litigation conference this week.’

Full Story

Law Society's Gazette, 8th September 2022

Source: www.lawgazette.co.uk

Manchester student money launderer given suspended jail sentence – BBC News

Posted August 4th, 2022 in money laundering, news, sentencing, suspended sentences by tracey

‘A student who reported himself to police as a suspicious train passenger while carrying more than £250,000 in a suitcase has been sentenced.’

Full Story

BBC News, 4th August 2022

Source: www.bbc.co.uk

Banned Russian oligarchs exploited UK secrecy loophole – BBC News

Posted August 4th, 2022 in anonymity, company law, money laundering, news, partnerships, Russia by tracey

‘Sanctioned Russian oligarchs from Vladimir Putin’s inner circle exploited a UK secrecy loophole left open by the government. Arkady and Boris Rotenberg – judo partners of the Russian president – used a type of company that was not required to identify its real owners.’

Full Story

BBC News, 3rd August 2022

Source: www.bbc.co.uk