Financial

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

UK investors lost £36million in fraud last year relating to the crypto firm Binance before it partnered with Cristiano Ronaldo, fresh police figures have revealed.

https://www.cityam.com/exclusive-uk-police-record-36m-fraud-linked-to-cristiano-ronaldo-backed-cryptocurrency-giant-binance/

Recently announced enforcement action should spur businesses across all sectors of the economy to risk assess their exposure to breaching UK sanctions, an expert has said.

https://www.pinsentmasons.com/out-law/news/fine-shows-uk-sanctions-risk-extends-beyond-financial-services

A big topic for this Sibos (and most past ones too) is how to stamp out financial crime without disrupting or degrading high quality service experiences for the vast majority of honest (and very important and valuable) customers.

https://www.finextra.com/blogposting/23019/fighting-financial-crime-in-2022