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Following a prosecution brought by the FCA against 3 former employees of Redcentric Plc, Timothy Coleman, former Chief Financial Officer, has been found guilty today of 4 charges concerning the making of false and misleading statements to the market.
https://www.fca.org.uk/news/press-releases/redcentric-former-cfo-finance-director-guilty-misleading-investors
Following the Prime Minister’s statement to the House of Commons on 22 February 2022, the UK announced a tranche of sanctions on Russia. The Prime Minister announced further measures on 24 February 2022 which are available on the Foreign, Commonwealth & Development Office website. If you require a licence to permit any activity which would otherwise be prohibited by sanctions regulations, you must contact the relevant department.
https://www.fca.org.uk/news/statements/new-financial-sanctions-measures-relation-russia
The UK government is drawing up new rules to tackle crypto fraud, with a view to making it easier for courts to trace crypto assets.
https://www.cityam.com/uk-government-seeking-to-give-courts-new-powers-to-track-down-crypto-assets/
Lloyds Banking Group has become the latest lending giant to post a bumper annual profit haul and reveal a return to bonuses despite a hit from fraud costs.
https://www.irvinetimes.com/news/national/19948270.lloyds-sees-profits-rocket-6-9bn-reveals-fraud-hit/?ref=twtrec
More than £4m in cryptocurrency has been returned to 23 people who fell victim to a fake trading scam.
https://www.bbc.co.uk/news/uk-england-manchester-60465675?mc_cid=76610cebdc&mc_eid=72e89a1d85
A new white paper advising regulated businesses, including estate agents, to stop using manual methods for onboarding clients has been published by anti-money-laundering specialist SmartSearch
https://propertyindustryeye.com/new-white-paper-calls-for-effective-aml-due-diligence/
Visas aimed at enticing foreign investors with fast-track residency in the UK are being scrapped with immediate effect, the UK home secretary confirmed yesterday (17 February).
https://www.personneltoday.com/hr/investor-visa-route-for-wealthy-individuals-scrapped-in-fraud-crackdown/#.YhFZegFqrE0.twitter
The UK’s tax authority has opened 20 criminal investigations involving digital assets as it seeks to crack down on crypto fraud.
https://www.cityam.com/taxman-opens-20-investigations-into-crypto-assets/
The FCA had a busy year in 2021 as it sought to fight wars on several fronts against fraud, scams and anti-money laundering. Here’s what those actions can teach us…
https://www.finextra.com/blogposting/21741/what-can-we-learn-from-the-fcas-fines-in-2021
Data released by the Office of National Statistics this week show that Fraud offences reported in England & Wales grew substantially in the year to September 2021.
https://ifamagazine.com/article/investment-fraud-jumps-42/
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