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Money laundering: UK Lawyer helped fraudsters, gangsters in 80 property deals

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

Financial crime: UK announces consultation on bitcoin, cryptoassets guidance

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… Read More

Former Barclays bosses hid 322 million pounds in Qatar fees in 2008, court told

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

Third former Tesco director cleared of fraud over 2014 scandal

The last of three former senior directors of Tesco (TSCO.L) accused of fraud at Britain’s biggest retailer in 2014 has been formally acquitted, leaving the Serious Fraud Office without a conviction for the accounting scandal. Carl Rogberg, 52, a former Tesco UK finance director, was tried last year along with… Read More

24th January 2019

London lawyer fined for anti-money laundering failures, PEP issues over wealthy clients

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

22nd January 2019

UK: Firm laundered cocaine dealers’ cash through buying property; assets seized

Britain’s National Crime Agency (NCA) has seized a property worth £1.7 million from a Staffordshire-based woman who, with her firm, used money from drug dealers to purchase a number of properties. A Civil Recovery Order by Consent was made at the High Court in London on 14 January, leading to… Read More

18th January 2019

UK regulator FCA publishes 2019 fines

The Financial Conduct Authority (FCA) has announced details of fines published so far during the calendar year ending 2019. The penalties amount to around £79 million. Tabled figures show that on 16 January this year it fined ex-Keydata Investment Services CEO Stewart Owen Ford £76 million for ‘failing to… Read More

18th January 2019

Oxford University suspends funding from China’s Huawei

The University of Oxford said on Thursday it has stopped accepting funding from China’s Huawei Technologies [HWT.UL], the leading global supplier of telecoms network equipment, after scrutiny over the company’s relationship with China’s government. “Oxford University decided on January 8 this year that it will not pursue new funding opportunities… Read More

17th January 2019

Terror financing: UK man claims Syria cash was for brother’s ‘medical advice’

A British man has been jailed for allegedly sending funds to his brother who travelled to Syria in order to help establish an Islamic state. Sheffield-based Abdurahman Kaabar admitted sending money to his brother but denied knowing or suspecting it might be used to fund terrorism. Instead, he claimed… Read More

16th January 2019

Unexplained wealth orders: £1 million diamond ring purchased by banker seized

Britain’s National Crime Agency (NCA) has seized a high value ring bought by a jailed Azerbaijani banker as part of an ongoing probe into its unexplained wealth order (UWO) case against him and his wife. The Cartier diamond ring, which has a retail value of £1,190,000 and was originally… Read More

16th January 2019

Banking: RBC staff ‘mistreated’ over compliance concerns, FCA investigates culture

The Financial Conduct Authority (FCA) has reportedly launched an investigation into working culture at investment bank RBC Capital Markets following the dismissal of RBC workers who were mistreated after they raised concerns about compliance issues at the bank. According to media reports, former RBC employees have spoken to the FCA… Read More

16th January 2019

UK money laundering: Different roles for new and existing taskforces involving banks

Britain’s existing financial crime taskforce initiatives, formed with the banking sector, will not be replaced by the creation of a new economic crime taskforce announced on Monday. Rather, they will have different roles and feed into the new project as part of joint efforts to combat economic crime. Read More

15th January 2019

Money laundering: UK govt, banks in new taskforce

The United Kingdom is set to launch a new initiative aimed at tackling financial crime such as money laundering, fraud and bribery. The new taskforce, to be known as the Economic Crime Strategic Board, will comprise government ministers, law enforcement figures and the bosses of Barclays, Santander and Lloyds… Read More

Must Read

Money laundering: UK Lawyer helped fraudsters, gangsters in 80 property deals

Money laundering: ‘Rise in UK suspicious activity reports should not mask failing system’

Financial crime: UK announces consultation on bitcoin, cryptoassets guidance

Former Barclays bosses hid 322 million pounds in Qatar fees in 2008, court told

U.S. Fed investigating Deutsche’s role in Danske money laundering – Bloomberg