Financial Crime UK

Image: © AFP UK Finance has released its biannual 2021 fraud update. In the document, the organization argues that fraud in the UK has reached a level where it "poses a threat to national security". Figures, for example,…

Woman who exploited a wealthy man and spent £ 2.5million of his money on vacations, designer items and an Aston Martin has been criticized for not showing a 'piece of remorse' as she is imprisoned for more than…

When the pandemic struck and the lockdowns were imposed, consumer behavior changed overnight.While many fraud prevention systems have struggled to cope with the rapid shift to all online purchases, Featurespace's self-learning models have!-->…

BUSINESS LIVE: the FTSE 100 climbs by 1%; Tax hike fears as energy prices skyrocket; NatWest faces a £ 240million fine for money laundering; CMA drops investigation into BA and Ryanair refundsBy Mike Sheen for…

The UK wing of KPMG has launched a new customer due diligence technology platform to help businesses cope with regulatory pressure and skyrocketing compliance costs. The Know Your Customer (KYC) guidelines in financial services require…

Fraudulent claims detected by UK insurers fell by a tenth last year, a drop attributed by the industry to the ripple effects of business closures and driver lockdowns during pandemic restrictions.General insurers identified 96,000…

London-based FinTech Crezco announced on Monday (October 4) that it had raised £ 3million (or $ 4million) in seed funding. According to FinTech and Finance News, the company will use the funding to fuel its international…

Forger who helped hide the proceeds of a multi-million pound investment scam has been sentenced to 28 months in prison, though no prosecution has been brought against those the Financial Conduct Authority has named as being involved in…

Economist and NatWest Group chairman Sir Howard Davies said he was "very hostile" to crypto. So much so that he supports China's recent crackdown, saying the UK should follow suit.Beijing last month reiterated its calls that…

By Lucia Osborne-Crowley (October 1, 2021, 5:30 p.m. BST) - The competition watchdog said on Friday it discovered bullying, harassment, discrimination and victimization within the banking organization opened from the UK and that the…

Read more: QuestGates promotes the frenzy of acquisitions He joins QuestGates from ASL, where he has spent the last two years specializing in cyber claims, including ransomware,…

By Silvia Martelli (September 30, 2021, 5:40 p.m. BST) - A Dubai-based food supplier has sued to force its insurer to cover its costs of defending a U.S. lawsuit filed by its shareholders over the allegedly inflated financial…

A couple who made around £ 70,000 from traffickers of sex workers across the UK have been jailed.The conviction of Cristian Simion and Mihaela Borcos under the Modern Slavery Act was the first such case for Wiltshire…

Google and Facebook have been burned by parliamentary economic crime investigation with MPs furious that tech giants are taking advantage of scammers whose ads can lead to victims being robbed of their savingsGoogle's Amanda Storey faces…

In the 44e general election, voters sent Canada's federal parties to bed with a message: Work Together. Indeed, when it returns to the House of Commons with a minority government, the Liberal Party will likely have to make concessions…

The Financial Conduct Authority said it was "working closely" with the government to create new regulations for crypto assets. That's what its Executive Director, Sarah Pritchard, said today at the FCA's annual public meeting. "We are…

Almost half (48%) of regulated businesses in the UK have reported an increase in attempted financial crime in the past 12 months, with an additional 26% confirming that they themselves have been victims, according to a study by…

By Najiyya Budaly (September 27, 2021, 4:11 p.m. BST) - Credit Suisse AG announced on Monday that it plans to repay an additional $ 400 million to investors who have had a total of $ 10 billion trapped in four linked investment…

Global UpdatesSign up for myFT Daily Digest to be the first to hear about world news. Hello. This article is an on-site version of our FirstFT newsletter. Subscribe to our Asia, Europe / Africa or Americas edition to…

He is the businessman who used a taxi company as a cover for his cocaine trafficking empire.…

Tens of thousands of people have businesses started in their name by scammers who then use the details to take loans or defraud consumers. Victims live forever in fear of debt collectors and the police who associate them with bad companies…

Lloyds Bank is aware that some customers are feeling potentially vulnerable due to the introduction of a new contactless card limit. As a result, he intervenes to reassure the British about this by offering individuals a way to protect…

With the public scrutiny of businesses and governments during the pandemic, more than eight in ten businesses expect investigations into their operations in the coming year. Watchdog surveys should focus on key areas of doing business,…

By Lucia Osborne-Crowley (September 23, 2021, 2:48 p.m. BST) - The government said on Thursday it plans to introduce new regulations to crack down on lenders who allow funds intended to buy illegal guns to flow unchecked through…

Shoppers walk near the Bullring Shopping Center, owned by Hammerson Mall operator, in Birmingham, Britain November 4, 2020. REUTERS / Andrew BoyersLONDON, Sept. 22 (Reuters) - Regulators will monitor the end of Britain's holiday program…

UK Police UpdatesSign up for myFT Daily Digest to be the first to hear about UK police news. Protesters blocking London's orbital highway could be jailed after the owner of England's major highways obtained an injunction…

MEPs will investigate tomorrow the role of online giants like Facebook and Google in preventing financial fraud amid fears that companies will let crooks run rampant on their platforms. Westminster Treasury Select Committee…

Thousands of families across South Lanarkshire will be hit in the pocket by the end of universal credit. The UK government's decision will see the additional £ 20 paid to help those on universal credit cope with the effects of!-->…

An attorney for the Trump Organization's chief financial officer Allen Weisselberg said he believed more indictments were pending. Lawyer Bryan Scarlatos, who represents former President Donald Trump's corporate finance boss, told a judge…

Today we are proud to announce that Gemini has joined the Take Five Charter in the UK alongside other leading financial institutions, banks and fintechs. Led by UK Finance and supported by Her Majesty's Government, the…

If you are preparing to withdraw money from an ATM in a foreign country, take a good look at where you insert your card. Go ahead, grab it and shake it a bit. The plastic case your card is in is sometimes replaced with a bogus…

© Reuters. Christian Democratic Union (CDU) candidate for chancellor Armin Laschet holds a press conference in Berlin, Germany, September 13, 2021. REUTERS / Michele Tantussi FRANKFURT (Reuters) -Armin Laschet, the Tory…

On September 14, United States President Joe Biden unveiled his choices to fill two vacant seats on the United States Commodity Futures Trading Commission (CFTC). In addition, the president appointed Rostin Behnam, who heads the…

A major illegal streaming operation in the UK has been shut down. Pirate Internet Protocol TV (IPTV) services provide access to popular paid shows and movies, usually only available with a subscription to Sky Q, Netflix, and Amazon Prime…

Northern Ireland UpdatesSign up for myFT Daily Digest to be the first to know about Northern Ireland news. Two men have appeared in court for the murder of Lyra McKee, a journalist from Belfast who was shot dead in…

JP Morgan Chase (JPMC) plans to open in the UK, launching its first overseas retail bank in more than 200 years of history, the Financial Times (FT) reported on Thursday (September 16th). The bank will be digital only. Sanoke Viswanathan,…

UK: Investments in high growth UK companies show surprising results…

Fungard to improve technology solutions for risk and compliance needs NEW YORK and LONDON, September 15, 2021 / PRNewswire / - K2 Integrity, the Leading Risk Management Company Founded by Industry Pioneers Jules and…

BERLIN - German Chancellor Angela Merkel's Conservative Secretary General put pressure on their social democratic rivals (SPD) Chancellor candidate, Olaf Scholz, to explain himself on an investigation of his Ministry of Finance by…

Leading UK law firm Shoosmiths has recruited Daren Allen, a highly experienced financial services litigation partner, to join its growing Financial Services Litigation and Investigations (FSDI) team in the part of its award-winning…

NEW DELHI (Reuters) - Sachin Bansal, co-founder of e-commerce giant Flipkart, has filed a lawsuit against India's financial crime agency, which accused him and others of violation of foreign investment laws, according to court records.The…

The Seychelles Police Financial Crime Investigation Unit (FCIU) recently confirmed that it received a request to investigate several transactions related to the transfer of 230,000 bitcoins. The cryptocurrency is said to be associated…

From late spring to early summer, UK primary and secondary schools were open during an alarming wave of Delta infections.And they handled the Delta Peak in a way that might surprise American parents, educators, and lawmakers: Masking was a…

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Married fraudsters convicted after Scotland's longest criminal trial have been ordered to pay back the profits from their crimes. Edwin McLaren, 56, scammed dozens of financially troubled people between 2008 and 2012. His wife,!-->…

The Taliban's swift military attack that saw the militant group take over all of Afghanistan in a matter of weeks has revealed just how rich he has become since his regime fell in 2001.Over the past two decades, insurgents have run a…

Financial services change management consultancy Bishopsgate Financial has been acquired by CubeMatch. The move creates one of the UK's largest independent financial services change management consultancy firms. Bishopsgate Financial is…

Law360 (August 9, 2021, 11:24 a.m. EDT) - In June, the Crown Prosecution Service, or CPS, introduced a significant change to its legal guidelines for prosecuting money laundering offenses. The change concerns section 330 of the…

Law360, London (Aug 6, 2021, 1:31 p.m. BST) - Credit Suisse Group AG announced on Friday that it will pay investors $ 400 million by August 10 in its latest installment of refunds to clients who have paid $ 10 billion. dollars in…

Cryptocurrency UpdatesSign up for myFT Daily Digest to be the first to know about cryptocurrency news. I have a modest amount invested in crypto-currencies that I would now like to use for the purchase of a house.…

A fraudster who scammed nearly £ 160,000 from friends and acquaintances "deliberately tried to deceive", police said. Welcoming the three-year and four-month sentence imposed on former…

Law360, London (July 23, 2021, 6:58 p.m. BST) - Last week in London, HSBC and Danske Bank were hit with contractual claims, with a Lloyd's of London broker sued by a Hungarian insurer and Daimler facing more car owners claims. Here…

Nikhil bhardwaj Tribune News Tribune Ludhiana, July 22 Digging into the roots of the bogus call center scam into which nationals of the UK, US and Canada were duped, the criminal branch of…

Law360 (July 20, 2021, 4:11 p.m. EDT) - The executive arm of the European Union on Tuesday unveiled a series of new measures designed to harmonize and strengthen the bloc's anti-money laundering rules and announced plans to launch…

PALO ALTO, Calif .-- (BUSINESS WIRE) - July 20, 2021--Jumio, the…

Law360, London (July 19, 2021, 7:00 p.m. BST) - The son of a disgraced businessman sued for $ 16 million in legal fees his father owes, said at trial on Monday lawyers pressured him during his marriage to sign promissory notes for…

This article is an on-site version of our The Week Ahead newsletter. Register now here to receive the newsletter directly in your inbox every SundayHello and welcome to the working week.First of all, thanks to everyone…

Will Hutton puts retirees in the same bag, likening us all to a wealthy elite (“Ending the pension lockdown is a start, but there is no easy fix to the yawning generation gap,” Commentary). We are not…

Law360 (July 16, 2021, 5:59 p.m. EDT) - The Financial Industry Regulator has fined London-based broker Laidlaw & Co. (UK) Ltd. $ 1.5 million. - and suspended its chief compliance officer - for a series of alleged violations…

Dogecoin: expert discusses Elon Musk's tweetsAlexandra Clark, saleswoman of digital trading platform GlobalBlock, speaking after police revealed they had seized a total of £ 294million in digital cash following two separate…

United States: In which area of ​​criminal law are amici most often on the winning side (part 3 - 2010-2020)?…

A former bank worker who fraudulently stole more than £ 74,000 from members of her own family has been jailed. She was sentenced to an additional 12-month jail term running concurrently on another…

Law360, London (July 12, 2021, 7.47 p.m. BST) - Shareholders in a bankrupt Ugandan lender have filed a $ 211 million fraud complaint in London accusing a rival bank, its executives, a UK government-backed financier and other…

Figures from the National Referral Mechanism, which show the number of children dragged into modern slavery by county drug gangs, also show a 61% increase in the 12 months since the start of the pandemic. , compared to the previous…

There's a reason paper checks have been around so long for multi-family property management companies, and it's not just because the platforms they use to collect tenant payments have barely been. upgrades in recent decades. In addition…

The proliferation of the odd-job economy and dramatic changes in the expectations of professionals for their own career paths have started to carve out more space for the independent entrepreneur - and for the regulations that surround…

British MPs have called on the government to suspend 'secret' multi-million pound funding programs for the oil-rich Gulf which they say could put the UK at risk of complicity in human rights abuses by Saudi Arabia and…

AHMEDABAD: Simply a class 12 faint, Harshwardhan Parmar is said to have executed a mind-boggling scam that targeted more than 25,000 foreign nationals from nearly 40 countries. He is accused of using their credit and debit cards to…

PublicityIn March, South Korea passed new legislation to strengthen oversight of virtual assets. The new law, however, has led to a pullback from banks and fears that many altcoin and cryptocurrency exchanges that have sprung up in…

Chris Woolard came out of his seven-month tenure as UK market watchdog with no regrets and a lot of opinions.In his first interview since stepping down as Acting Managing Director of the UK's Financial Conduct Authority, Woolard said…

The UK tax administration has launched nearly 13,000 investigations into the use of government coronavirus business support programs, including for possible fraud and other rule violations.BLM, the law firm that…

June 26 marks the International Day against Drug Abuse and Illicit Trafficking. The theme for 2021 is “Sharing Drug Facts, Saving Lives”. According to the United Nations Office on Drugs and…

Bitcoin isn't money - it's a speculative asset that can be used by organized crime to launder money and launch ransomware attacks, according to the world's largest organization of central banks.Key points:BIS says cryptocurrencies are…

The report, titled The state of Regtech in APAC, provides the most comprehensive and independent analysis available on regtech adoption in 10 key APAC markets of Australia, Mainland China, Hong Kong, Indonesia, Japan, Malaysia,…

Adoption of remote integration will bring global spending on digital identity verification to $ 16.7 billion in 2026, according to Juniper Research, with total number of identity verifications more than doubling from…

Financial crime pays off. EY estimates that the annual cost of money laundering and related crimes ranges from $ 1.4 trillion to $ 3.5 trillion. To counter it, financial institutions around the world will spend an estimated $ 213.9…

Bitcoin's decline comes after the flagship crypto hit a level of $ 41,330 on June 15. Photo: Marco Bello / AFP via Getty ImagesA massive sell-off in the crypto market continued over the weekend, with the world's two biggest tokens,…

In short The Mayflower Autonomous Ship (MAS), which sailed this week from the UK to the US, ran aground just three days after the start of its voyage. It appears that a mechanical fault has occurred, something that Mayflower's AI…

A new report from LexisNexis Risk Solutions has found that increasing anti-money laundering regulations, more than criminal threats, are driving up compliance costs for UK financial institutions. Survey of over 300…

Key points The proposed power would allow the UK government to block initial listings and admissions of shares on UK public markets for reasons of national security. The listing of debt securities (other than convertible securities)…

Law360, London (June 16, 2021, 5:14 p.m. BST) - London law firm Gateley PLC revealed on Wednesday that it was the target of a cyber attack that compromised some of its clients' information, making it the latest victim of an online…

Another challenger bank turns to TruNarrative for digital integration and risk management. MoneeMint is a UK-based financial startup and promotes itself as the country's premier ethical digital banking platform. The company is…

Paramilitary money lenders are forcing people who cannot repay their loans to crime, according to a new Justice Department campaign.…

Law360, London (June 14, 2021, 12:38 a.m. BST) - A former director of a construction brokerage firm was banned from running a business in the UK for seven years after becoming insolvent and failing to pay its creditors.…

LONDON--(COMMERCIAL THREAD) -Napier, a provider of advanced financial crime compliance solutions, announced that it is now the platform of choice for Firma, a global currency and payments company headquartered in Canada.…

The FinCEN Files survey was honored as a finalist for the 2021 Pulitzer Prize for International Reporting, bringing more praise to the groundbreaking project from the International Consortium of Investigative Journalists,…

“As we enter a new phase of implementing our Operational Resilience Program, we will create a 'business partner' style model to support the Bank's divisions." Shawbrook Bank…

Through Christophe gribbin, Partner, White Collar Crime & Investigations Group, Mishcon de Reya Eenvironmental crime is a term used to cover any illegal conduct that harms the environment; it deals with everything from…

It is the first of its kind to be offered by a British bank. Fraud costs the UK private sector more than £ 140 billion a year, according to the latest crime figures.A study by HSBC UK Commercial Banking found that the most…

Some banks could do more to protect their customers from fraudulent communications that attempt to steal their personal information, according to Which?The consumer group said not all banks use all the technology at their disposal,…

Smith & Williamson wealth management and professional services firm has announced the appointment of Jenny Reed as Director of its Forensic Services team. Reed recently headed the audit and assurance wing of Baker Tilly…

National Public Prosecutor's Office of France (PNF) opened a preliminary investigation into the personal fortune of the governor of the Central Bank of Lebanon, Riad Salamé, following two complaints lodged last month with…

Following the communiqué from the G7 finance ministers, Finance Minister Curtis Dickinson said that while "we support the broad goals", with regard to the "proposals presented on taxation, it is essential that any agreed…

By Byron KayeSYDNEY (Reuters) - Australia's financial crime agency has expanded an investigation into alleged compliance violations by casino operator Crown Resorts to include its Perth property, while rival SkyCity Entertainment Group…

HSBC Holdings plc (NYSE: HSBC), a UK multinational investment bank and financial services holding company, recently revealed that its UK division has introduced a fraud awareness app to give businesses or businesses the latest updates…

Law360, London (June 4, 2021, 6:35 PM BST) - Joining Cohen & Gresser of the Serious Fraud Office allowed John Gibson to use his experience in international corruption prosecutions to advise the London clients of the US firm on…

Among the legislative reform proposals presented by the British government inventory on its plan to fight economic crime, here are some highlights for large companies. Information sharing A consultation is underway to establish a new…

Law360, London (June 3, 2021, 12:15 a.m. BST) - The first bloc-wide European Union prosecutor's office was launched this week in hopes it will be a game-changer in the fight against crimes that damage the EU's finances, but its…

The report, titled Financial Crime and Fraud Management Solutions Market, is one of the most comprehensive and essential additions to Reports Globe's market research archive. It provides detailed research and analysis on key…

Topline Financial regulators in Sweden and the United States both hinted at impending crackdowns on largely unregulated cryptocurrency markets over Memorial Day weekend, noting the absence of a coherent framework for the new technology,…

A six-month crackdown in the Asia-Pacific region coordinated by Interpol resulted in the seizure of around £ 58.4million in funds that were stolen by fraudsters through scams such as fraud investment, romance scams,…

AxiosAt least 2 killed, 20 injured in 'targeted and cowardly' mass shooting in MiamiAt least two were killed, and 20 to 25 others injured, when three people exited an SUV carrying assault rifles and handguns and began "indiscriminately…

Florida Congressman Matt Gaetz, who has blamed extortionists for his spate of sex scandals, now says "malicious actors" stole more than $ 150,000 from him while he was trying to buy a boat.A spokesperson for Mr. Gaetz says WFLA that a…

The most widely used cryptocurrency, Bitcoin, has recently been used to identify human traffickers.FLICKR IMAGE Although only a little over a decade old, blockchain has practically spawned a technological!-->>-->!-->>-->!-->…

Law360, London (May 28, 2021, 6:19 p.m. BST) - Last week in London, a diamond broker got into a fight with a former client, a luxury Qatari conglomerate sue its Lebanese insurer and JK Rowling's literary agent sue Fieldfisher .…

Law360, London (May 27, 2021, 7:37 p.m. BST) - Chancellor of the Exchequer Rishi Sunak told lawmakers on Thursday he was ready to discuss increased monitoring of commercial loans with the UK's financial watchdog after the…

The role of Sapien Capital is to execute alleged OTC share transactions worth approximately £ 2.5bn in Danish stocks and £ 3.8bn in Belgian stocks. Sapien Capital Ltd has been fined £ 178,000 by the…

BloombergBillionaire Li Ka-shing bets on Southeast Asian tech startups(Bloomberg) - Follow Bloomberg on LINE messenger for all the business news and analysis you need. Hong Kong tycoon Li Ka-shing's private investment firm, Horizons…

BloombergBillionaire Li Ka-shing bets on Southeast Asian tech startups(Bloomberg) - Follow Bloomberg on LINE messenger for all the business news and analysis you need. Hong Kong tycoon Li Ka-shing's private investment firm, Horizons…

UK Finance, Which? And the City of London Police are among a host of organizations to sign a letter calling on the government to include online scams in its new online safety bill. The bill seeks to force businesses -…

Chroniclers Cooperation between players will win the war on financial crimes Friday 07 May 2021 By FAITH MUTHAURAMore from this author summary Financial institutions are the first line of defense in the fight…

On 6 May, Bedfordshire will be electing its third police and crime commissioner (PCC) since the post was created in 2012. The outgoing PCC, Kathryn Holloway of the Conservatives, has highlighted the force needs to make £6m…

Body cameras of the type used by police could be farmers' last line of defense in the fight against rural crime. North Wales Police (NWP) say the technology can help protect farmers who often work alone in…

It is the biggest heist in British history and yet, 16 years later, the mystery of the Northern Bank theft in Belfast remains unsolved despite a massive international police investigation. Now a new BBC documentary takes an in-depth look!-->…

A report by the Human and Environmental Development Agenda (HEDA Resource Center), a good governance advocacy group, has painted a graphical picture of the damage caused by illicit financial flows in the…

If you're planning to go on vacation or attend a festival this summer when the restrictions end, you need to be on the lookout for scammers, a trade association has warned. People are on notice of criminals who…

Saudi and Greek drug busts highlight Hezbollah's 'drug strategy' DUBAI: Lebanese fruits and vegetables are no longer welcome in Saudi Arabia after vigilant port authorities in the Kingdom thwarted an attempt to smuggle narcotics…

LONDON: Several years after her husband's death, Tina felt ready to move on with her life. Encouraged by her friends, she joined an online dating site for over 50s and was approached by Andrew.A handsome widower with…

Law360, London (April 30, 2021, 5:47 p.m. BST) - Bankers and insurers have told regulators and criminal agency officials that their systems are subject to work from home and could also be compromised by malicious or accidental…

As we all know, Revolut has decided to become one of the Big Boys of Banking. Earlier this year, the London-based fintech, which is gearing up for a fundraiser that would have valued between $ 10 billion and $ 15…