Filter news by category
LONDON (Reuters) - British banks are gearing up to share more data with their peers on suspected serious economic crime as part of wider efforts to stem dirty money flows into the country from Russia and elsewhere, four sources with knowledge of the matter told Reuters.
https://uk.investing.com/news/stock-market-news/uk-banks-to-ramp-up-data-sharing-in-dirty-money-crackdown-3059886
A fugitive who ran a Ponzi-style investment scam worth £70 million in the City of London has been given jailed after going on the run.
Anthony Constantinou, 41, ran Capital World Markets (CWM) which offered investors returns of 60 per cent per year on allegedly risk-free foreign exchange markets.
Amoney-launderer acting as a ‘treasurer’ for criminals who conned elderly and vulnerable people out of £350,000 in the space of two months at the start of the pandemic has been jailed.
The judge told Luke Barling that although he wasn’t directly involved in scamming the 16 victims, his role cleaning the dirty cash by moving it through several bank accounts was ‘critical’ to the fraud.
https://www.msn.com/en-gb/news/world/money-launderer-for-gang-that-conned-vulnerable-people-out-of-%C2%A3350000-is-jailed/ar-AA1cltOB
Around one in every 100 current account applications is now fraudulent, with money muling often being behind such incidents, according to a financial information company.
Money mule activity is often behind bogus applications which are detected or prevented, accounting for more than two-fifths (42%) of reported first-party current account fraud, Experian said.
https://uk.sports.yahoo.com/news/one-100-current-account-applications-230100760.html
A finance boss has been found guilty of fraud and sentenced to seven years imprisonment at Leeds Crown Court.
An investigation by the Insolvency Service found Liam Francis Wainwright, 61, from Leeds, had falsified documents to mislead investors and spend their money on ventures including a racehorse syndicate and his own failed private businesses.
Retail banks worldwide are struggling to upgrade their defences against fraud despite the increasing threat of financial crime.
According to data collected for BioCatch, 78 per cent of financial firms worldwide are concerned about their ability to respond to emerging fraud threats quickly and effectively.
A Co Down company director has been ordered to stand trial accused of an international multi-million pound bitcoin crypto fraud.
Appearing at Newtownards Magistrates Court, Jawad Yaqub (45) of Ben Vista Park in Holywood, confirmed he understood the 25 charges against him and that he did not object to the case being returned to the Crown Court for trial.
A man who lost £140,000 after being targeted by fraudsters says he fears he may never get over the betrayal.
https://www.bbc.co.uk/news/uk-england-leicestershire-65812392
The new deputy co-lead of the UK Financial Conduct Authority has warned misbehaving companies that time is up on fraud and the promotion of harmful services.
https://www.cdr-news.com/categories/competition-and-business-crime/18938-fca-vows-crackdown-on-misconduct
UK losses to crypto fraud increased more than 40 per cent over the past year, surpassing £300mn for the first time, according to Britain’s fraud reporting agency.
https://www.ft.com/content/88602223-004b-4e27-b9eb-c45e1f850f9f
Search articles by keyword
Midlands Fraud Forum Ltd. Reg.No: 06436330 Copyright © 2023 Disclaimer & Privacy Policy