28th January 2019
A new list ranking tax contributions in the UK has named owners of a sportswear enterprise, gambling business and clothing retailers among the country’s estimated top ten taxpayers. Top of the list is JD Sports majority shareholder Stephen Rubin, followed by Bet365 boss Denise Coates and then Sir James… Read More
28th January 2019
A former RBS employee has been jailed for 30 months over a scam in which he tried to bribe his colleagues in an attempt to swindle hundreds of thousands of pounds from the bank. Using his inside knowledge, Dilbaagh Singh-Derewal and an associate asked two ex-colleagues who still worked… Read More
28th January 2019
The Serious Fraud Office has published the full terms of its deferred prosecution agreement (DPA) with supermarket giant Tesco after reporting restrictions were lifted. Under the DPA, Tesco agreed to pay a £129m fine and £3m investigation costs, and also agreed to undertake and implement an ongoing compliance programme during… Read More
25th January 2019
European Union states are poised to back new rules to boost protection for whistleblowers who expose fraud, tax evasion, data breaches and other misdeeds, EU sources told Reuters. The move follows criticism from transparency campaigners about the lack of EU protection for individuals who report such breaches, citing the prosecution… Read More
25th January 2019
A solicitor who provided conveyancing services for a gang of drug dealers and fraudsters and helped launder their dirty cash has been jailed for seven years. Police discovered the Handforth-based professional’s activities while investigating the operation of an organised crime gang that had been laundering the proceeds of their criminal… Read More
25th January 2019
The increase in the number of suspicious activity reports (SARS) filed by the private sector should not mask the inadequacy’s of Britain’s financial crime prevention regime, according to anti-corruption campaigners. New figures from the National Crime Agency show that the number of SARS filed edged up to almost half a… Read More
24th January 2019
Britain’s Financial Conduct Authority (FCA) has launched a consultation into guidance on the cryptoasset activities it regulates. The watchdog said the move is aimed at providing clarity for firms about whether their cryptoasset activities fall under its regulation, and [for them to] ensure they are compliant and have appropriate consumer… Read More
Anti-money laundering author Ehi Eric Esoimeme devles into the issues surrounding pension fraud in Nigeria. Of interest is a revised approach to the processing of death benefits in one of Africa’s most populous states. Will the new measures prove effective, or can more be done?… Read More
24th January 2019
Four former Barclays (BARC.L) executives conspired to commit fraud by hiding 322 million pounds of payments to Qatar in return for cash injections in 2008, a prosecutor alleged at the opening of one of London’s most high-profile criminal trials. Former chief executive John Varley and three former directors are the… Read More
24th January 2019
A solicitor, who was also a money laundering reporting officer (MLRO), has been fined £45,000 for failing to conduct anti-money laundering checks for wealthy clients believed to be linked to the Panama Papers scandal. Khalid Mohammed Sharif, a partner at London-based Child & Child, was involved in the law firm’s… Read More