Financial

Today (21 November 2022) the Security Minister chaired a session of the Joint Fraud Taskforce and welcomed a new victim checklist created by the banking industry.

https://www.gov.uk/government/news/security-minister-welcomes-new-support-for-fraud-victims

The Financial Conduct Authority (FCA) has publicly censured Mohammad Ataur Rahman Prodhan, the former Chief Executive Officer of Sonali Bank (UK) Limited (SBUK) for anti-money laundering (AML) failings.

https://www.finextra.com/pressarticle/94967/fca-issues-final-notice-to-former-sonali-bank-ceo-for-aml-failings

Three men have been charged as part of an investigation into a multi-million pound fraud and money-laundering operation by officers from the PSNI's Economic Crime Unit.

https://www.irishnews.com/news/northernirelandnews/2022/11/08/news/three_men_charged_over_multi-million_pound_fraud_and_money-laundering_operation-2887957/?param=ds441rif44T

Officers from the Police Service Of Northern Ireland's Economic Crime Unit arrested three men aged 39, 40 and 44.

https://www.itv.com/news/utv/2022-11-07/three-men-have-been-arrested-on-suspicion-of-fraud-and-money-laundering

A corrupt stockbroker who promised more than 300 investors huge returns for pouring £5.4mn into a South American gold mine was spared jail today (November 7).

https://www.ftadviser.com/investments/2022/11/07/corrupt-stockbroker-spared-jail-over-investment-scam/

The Financial Conduct Authority has prosecuted five individuals for their role in an "all-or-nothing" investment scheme which has allegedly defrauded UK investors of £1.2mn.

https://www.ftadviser.com/investments/2022/11/01/fca-prosecutes-5-people-over-alleged-1-2mn-investment-fraud/

A group of companies have been put into liquidation after scamming investors out of £2.4mn.

https://www.ftadviser.com/investments/2022/10/26/companies-shut-down-after-2-4mn-property-investment-fraud/

The UK and US agreed to enhance their cooperation in implementing financial sanctions, in a bid to maximise the impact of the measures imposed on Russia following its invasion of Ukraine as well as to ease the compliance burden for business.

https://www.pinsentmasons.com/out-law/news/uk-us-treasury-team-russia-sanctions-enforcement

The City of London police has warned investors of the perils of ‘get rich quick’ scams after the amount lost to investment fraud rose by 50 per cent last year.

https://www.ftadviser.com/investments/2022/10/17/city-of-london-police-warns-against-social-media-investment-fraud/

A fraudster who duped more than 8,000 people into investing in celebrity-backed luxury Caribbean holiday resorts in a £226m scam has been jailed.

https://www.bbc.co.uk/news/uk-england-essex-63058237