06 Sep 2018
An executive at the London unit of a foreign bank was reportedly arrested on suspicion of bribery, following a seven-month investigation which uncovered corruption.
The banker’s case has now been referred to the prosecution services, said the National Crime Agency’s (NCA) Nigel Kirby, quoted in Bloomberg. The bank’s customer relationships manager was also arrested
Kirby did not name the officials or the bank.
He made the remarks at the Cambridge International Symposium on Economic Crime event.
The NCA says it is making progress in fighting financial crime, using existing and new legislation to conduct investigations and seize criminal proceeds.
In February this year it announced that it has secured two unexplained wealth orders (UWOs), a month after they were established in the country.
UWOs require individuals to explain various issues about an asset, including how it was obtained, in situations where there are grounds to suspect that their known income would be insufficient to obtain the property.
The NCA said the UWOs will enable it to investigate assets totalling £22m, which are believed to ultimately be owned by a politically exposed person (PEP).
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