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.’

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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).’

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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.’

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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.’

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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.’

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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.’

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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.’

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BBC News, 3rd August 2022

Source: www.bbc.co.uk

Man jailed in a £104million money laundering scam of transporting illegal cash to Dubai – Crown Prosecution Service

Posted August 2nd, 2022 in Crown Prosecution Service, guilty pleas, money laundering, news, sentencing by tracey

‘A money launderer who arranged to transport £104million in illegally obtained cash to Dubai has been jailed today (28 July).’

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Crown Prosecution Service, 28th July 2022

Source: www.cps.gov.uk

Couple who cashed in on mother’s Hertfordshire health scam jailed – The Guardian

‘A couple who enjoyed holidays abroad with money from a relative who faked being bedridden to scam a local authority out of more than £624,000 have been jailed.’

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The Guardian, 19th July 2022

Source: www.theguardian.com

Duo jailed for £20m pension fraud – Crown Prosecution Service

‘Two scammers have been imprisoned today (15 July 2022) for a pension fraud worth over £20 million which caused many of the victims to lose their entire pensions.’

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Crown Prosecution Service, 15th July 2022

Source: www.cps.gov.uk

Anti-money laundering proposals ‘uninspired and insipid’, say MPs – The Guardian

Posted June 10th, 2022 in company directors, company law, fraud, Law Commission, money laundering, news by sally

‘Law Commission proposals to make directors more accountable for economic crimes at the companies they oversee have been condemned as a “thundering disappointment”.’

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The Guardian, 10th June 2022

Source: www.theguardian.com

Guardian wins legal challenge over access to employment tribunal papers – The Guardian

‘Journalists should be provided with access to documents from employment tribunal cases even in the aftermath of a judgment, it has been ruled, after a successful legal challenge by the Guardian.’

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The Guardian, 22nd March 2022

Source: www.theguardian.com

Top UK law firm fined record sum for breaching money-laundering rules – The Guardian

Posted January 6th, 2022 in fines, law firms, money laundering, news by sally

‘Mishcon de Reya, one of the UK’s most prestigious law firms, has been fined a record amount for committing “serious breaches” of money-laundering rules.’

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The Guardian, 6th January 2022

Source: www.theguardian.com

Natwest fined £264m after taking deposits of laundered cash in bin bags – The Guardian

Posted December 14th, 2021 in banking, fines, money laundering, news by tracey

‘NatWest has been fined more than £264m for anti-money-laundering failures that involved black bin liners stuffed full of cash being deposited, and sums so large that one branch’s two floor-to-ceiling safes proved “inadequate” for storing it all.’

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The Guardian, 13th December 2021

Source: www.theguardian.com

‘Super courtroom’ to open in Loughborough to deal with gang trials – BBC News

Posted November 9th, 2021 in courts, drug trafficking, gangs, Ministry of Justice, money laundering, murder, news by tracey

‘A “super courtroom” has been built to help deal with gang trials with large numbers of defendants.’

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BBC News, 9th November 2021

Source: www.bbc.co.uk

Chart-topping rapper Nines jailed for plot to import 28kg of cannabis – The Independent

‘Chart-topping rapper Nines has been jailed for 28 months for importing 28kg of cannabis.’

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The Independent, 2nd October 2021

Source: www.independent.co.uk

New landmark partnership with UAE to tackle illicit finance – Home Office

Posted September 20th, 2021 in government departments, money laundering, news, terrorism by tracey

‘The UK and UAE will ramp up the targeting of those financing terrorism and serious and organised crime gangs as part of a landmark new partnership.’

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Home Office, 17th September 2021

Source: www.gov.uk

Lord Chancellor addresses the Cambridge Economic Crime Symposium – Ministry of Justice

‘The Lord Chancellor spoke during the 38th annual Symposium held at Jesus College, University of Cambridge – to give an update on the government’s progress and plans in relation to economic crime.’

Full speech

Ministry of Justice, 10th September 2021

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

Defensive Advising Strategies 2: Know Your Client – Wilberforce Chambers

‘With a history in the world of financial services regulation, “know your customer/client” or “KYC” is a cornerstone of professional practice. What does it mean for legal professionals? In this instalment of my series on defensive advising strategies, I consider three aspects of KYC which are particularly relevant to lawyers, with an emphasis on the interface between solicitors and other professionals and the barristers they instruct. This perspective is based on my own experience as a practitioner and raises issues which crop up relatively frequently.’

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Wilberforce Chambers, 22nd July 2021

Source: www.wilberforce.co.uk

Tara Hanlon jailed for over £5m money laundering offences – BBC News

Posted July 27th, 2021 in imprisonment, money laundering, national crime agency, news, sentencing by sally

‘A woman has been jailed for 34 months after being found at Heathrow Airport with five suitcases stuffed with nearly £2m in cash.’

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BBC News, 26th July 2021

Source: www.bbc.co.uk