Financial

The Better Business Bureau (BBB0 has recently highlighted crypto to be among the riskiest frauds of the previous year.

https://www.thecoinrepublic.com/2022/03/20/crypto-space-was-among-the-riskiest-fraud-types-last-year-signifies-a-report/

Today, former Redcentric Plc CFO, Tim Coleman, was sentenced to five and a half years imprisonment and disqualified from being a director for ten years having been found guilty of two offences of making false and misleading statements to the market, and three offences of false accounting.

https://www.fca.org.uk/news/press-releases/former-redcentric-cfo-sentenced-five-and-half-years-imprisonment

Following a six-year police investigation, 12 fraudsters have been jailed for scamming elderly and vulnerable victims into losing £2.1million.

https://www.essexlive.news/news/essex-news/essex-fraud-scam-millions-jailed-6724470

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