Category: money laundering

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.’

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The Guardian, 14th January 2018

Source: www.theguardian.com

Jail for solicitor “who wouldn’t ask too many questions” – Legal Futures

Posted January 9th, 2019 in money laundering, news, sentencing, solicitors by sally

‘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.’

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Legal Futures, 8th January 2019

Source: www.legalfutures.co.uk

Multiplicity of legal regulators “not helping AML fight” – Legal Futures

Posted December 12th, 2018 in financial regulation, money laundering, news by sally

‘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.’

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Legal Futures, 12th December 2018

Source: www.legalfutures.co.uk

Gambler’s victims to sue bookmakers where he spent stolen cash – The Guardian

Posted December 11th, 2018 in compensation, gambling, money laundering, news, theft, victims by sally

‘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.’

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The Guardian, 10th December 2018

Source: www.theguardian.com

Investor visa scheme halted in money laundering crackdown – BBC News

Posted December 6th, 2018 in citizenship, immigration, money laundering, news, visas by sally

‘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.’

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BBC News, 5th December 2018

Source: www.bbc.co.uk

Online gambling firms fined in crackdown – BBC News

Posted November 29th, 2018 in codes of practice, fines, gambling, identification, internet, money laundering, news, ombudsmen, regulations by tracey

‘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.’

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BBC News, 29th November 2018

Source: www.bbc.co.uk

Solicitors warned about acting as ‘hired guns’ for dubious clients – Law Society’s Gazette

Posted November 28th, 2018 in fraud, money laundering, news, professional conduct, rule of law, solicitors, Solicitors Regulation Authority by tracey

‘Regulators have vowed to take action against any solicitor found to have neglected their wider obligations simply to keep a client happy.’

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Law Society's Gazette, 27th November 2018

Source: www.lawgazette.co.uk

Tighter regulation of cryptoassets coming in the UK – OUT-LAW.com

Posted November 1st, 2018 in consultations, cryptocurrencies, EC law, financial regulation, money laundering, news, terrorism by sally

‘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.’

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OUT-LAW.com, 31st October 2018

Source: www.out-law.com

Paddy Power Betfair fined after stolen cash is gambled through its website – BBC News

Posted October 16th, 2018 in fines, gambling, money laundering, news by sally

‘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.’

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BBC News, 16th October 2018

Source: www.bbc.co.uk

Barrister wins right to see reports his bank made to police – Legal Futures

Posted October 11th, 2018 in banking, barristers, freedom of information, money laundering, news, police by sally

‘A barrister has won the right to see suspicious activity reports (SARs) that his bank made to the National Crime Agency (NCA) about money received into his accounts.’

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Legal Futures, 10th October 2018

Source: www.legalfutures.co.uk

Specialist financial crime unit to crack down on prison gangs – Ministry of Justice

Posted October 4th, 2018 in crime, money laundering, press releases, prisons by tracey

‘A new specialist unit will identify and freeze bank accounts linked to organised crime behind bars, Justice Secretary David Gauke announced today.’

Full press release

Ministry of Justice, 2nd October 2018

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

Banker’s wife may lose property worth millions after UK court ruling – The Guardian

Posted October 4th, 2018 in money laundering, national crime agency, news, proceeds of crime by tracey

‘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.’

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The Guardian, 3rd October 2018

Source: www.theguardian.com

Woman who laundered money from corrupt payments to her brother sentenced – Crown Prosecution Service

Posted September 27th, 2018 in confiscation, conspiracy, money laundering, press releases, sentencing by tracey

‘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).’

Full press release

Crown Prosecution Service, 25th September 2018

Source: www.cps.gov.uk

The Sanctions and Anti-Money Laundering Act – Brexit Law

Posted August 20th, 2018 in money laundering, news, podcasts, sanctions by sally

‘Podcast by Maya Lester QC recorded for the BIICL.’

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Brexit Law, 17th August 2018

Source: brexit.law

Appeal judges reject criminals’ “cynical” attempt to blame barrister – Legal Futures

Posted August 7th, 2018 in barristers, confiscation, money laundering, news by sally

‘The Court of Appeal has rejected what it described as a “cynical” attempt by two men convicted of money laundering to blame their barrister for confiscation orders made against them.’

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Legal Futures, 7th August 2018

Source: www.legalfutures.co.uk

Offshore owners of British property to be forced to reveal names – The Guardian

Posted July 24th, 2018 in bills, disclosure, money laundering, news by tracey

‘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.’

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The Guardian, 23rd July 2018

Source: www.theguardian.com

Anti-money laundering crackdown should be more focused on most suspicious activity – Law Commission

Posted July 23rd, 2018 in consultations, enforcement, Law Commission, money laundering, press releases by tracey

‘Anti-money laundering laws should be streamlined and strengthened to help law enforcement agencies to focus on serious crime, say the Law Commission.’

Full press release

Law Commission, 20th July 2018

Source: www.lawcom.gov.uk

Care home boss who stole millions from residents jailed – Crown Prosecution Service

Posted July 16th, 2018 in care homes, conspiracy, false accounting, fraud, money laundering, press releases, theft by tracey

‘The owner of a care home who tried to defraud residents out of £4.1million by isolating them from their families and persuading them to make him a beneficiary of their wills has been jailed today.’

Full press release

Crown Prosecution Service, 13th July 2018

Source: www.cps.gov.uk

Dealer of toxic diet pills that killed student guilty of manslaughter – The Guardian

Posted June 28th, 2018 in drug offences, food, homicide, mental health, money laundering, news by sally

‘An online steroid dealer who sold toxic slimming pills that killed a bulimic student has been found guilty of manslaughter.’

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The Guardian, 27th June 2018

Source: www.theguardian.com

Fraud, bribery and money laundering offences: Assessment of guideline – Sentencing Council

Posted June 27th, 2018 in bribery, fraud, money laundering, press releases, sentencing by tracey

‘The Sentencing Council has published its assessment of the impact of its Fraud, Bribery and Money Laundering offences guideline on sentencing trends, under its statutory duty to monitor the operation and effect of its sentencing guidelines and to draw conclusions from this information.’

Full press release

Sentencing Council, 26th June 2018

Source: www.sentencingcouncil.org.uk