Category: money laundering
Robust new laws to fight corruption, money laundering and fraud – Home Office
‘The Economic Crime and Corporate Transparency Act received Royal Assent on Thursday 26 October.’
Home Office, 26th October 2023
Source: www.gov.uk
Forfeiture ruling highlights underground banking threat – Law Society’s Gazette
‘A money laundering case involving the sale of a £1.73million house has thrown a rare spotlight on the operations of the Chinese underground banking system.’
Law Society’s Gazette, 7th September 2023
Source: www.lawgazette.co.uk
Germany refuses to extradite man to UK over concerns about British jail conditions – The Guardian
‘A German court has refused to extradite to the UK a man accused of drug trafficking because of concerns about prison conditions in Britain.’
The Guardian, 5th September 2023
Source: www.theguardian.com
Cryptocurrency: 11 members of £5m drugs gang jailed – BBC News
‘Eleven members of a drugs gang have been jailed for a multi-million pound cocaine and money laundering operation.’
BBC News, 30th July 2023
Source: www.bbc.co.uk
Cryptocurrency: Four members of £5m drugs gang jailed – BBC News
‘A drugs gang have been jailed for a multimillion pound operation which laundered profits in cryptocurrency.’
BBC News, 27th July 2023
Source: www.bbc.co.uk
COVID-19 fraudster sentenced for laundering nearly £200k from taxpayers – Crown Prosecution Service
‘A fraudster who sought to exploit the taxpayer through a COVID-19 support scheme has been sentenced today (3 July 2023).’
Crown Prosecution Service, 3rd July 2023
Source: www.cps.gov.uk
More action to fight fraud, bribery and other economic crime – Home Office
‘Plans have been submitted to modernise the identification doctrine, a legal principle which can hold corporations criminally liable for an offence.’
Home Office, 15th June 2023
Source: www.gov.uk
Former boss of a City of London foreign exchange company jailed for an around £70m fraud – Crown Prosecution Service
‘The former director of a finance company, based in the City of London, has been imprisoned today (9 June 2023) of being responsible for an around £70m investment fraud, which stole money from members of the public.’
Crown Prosecution Service, 9th June 2023
Source: www.cps.gov.uk
Illegal streaming gang jailed for selling cut-price Premier League subscriptions – The Guardian
‘Five members of an illegal streaming gang have been jailed for a total of more than 30 years for offering cheap subscriptions for Premier League games to tens of thousands of customers.’
The Guardian, 30th May 2023
Source: www.theguardian.com
LLC Synesis v Secretary of State for Foreign, Commonwealth and Development Affairs – Blackstone Chambers
‘The High Court has dismissed an application to set aside a sanctions designation issued by the Secretary of State for Foreign, Commonwealth and Development Affairs. This was the first challenge to be brought under section 38 of the Sanctions and Anti-Money Laundering Act 2018 (“SAMLA”).’
Blackstone Chambers, 15th March 2023
Source: www.blackstonechambers.com
Financial Sanctions in the UK – No. 5 Chambers
‘With the financial sanctions imposed against Russia has been widening and deepening over the past year, more and more businesses and investors have paid attention to the regulatory obligations for compliance.’
No. 5 Chambers, 8th March 2023
Source: www.no5.com
William Hill let customer bet £23,000 in 20 minutes – BBC News
‘Three gambling firms owned by William Hill are to pay penalties of £19.2m for failing to protect consumers and weak anti-money laundering controls.’
BBC News, 28th March 2023
Source: www.bbc.co.uk
Travel agent jailed for defrauding customers to fund lavish lifestyle – Crown Prosecution Service
‘A travel agent who stole money from friends, family and hundreds of members of the public who bought holidays from her, has today been jailed.’
Crown Prosecution Service, 3rd February 2023
Source: www.cps.gov.uk
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.’
Legal Futures, 25th January 2023
Source: www.legalfutures.co.uk
SRA imposes record £20,000 fine for AML failings – Law Society’s Gazette
‘The Solicitors Regulation Authority has fined a firm a record £20,000 for failing to have anti-money laundering training and systems in place.’
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.’
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
‘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.’
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
‘A former Premier League star has been jailed today (12 January 2023) for defrauding friends, family members and associates out of £15 million.’
Crown Prosecution Service, 12th January 2023
Source: www.cps.gov.uk
