Financial

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/

A construction firm has been wound up by the High Court after tricking investors into parting with more than £1m of their cash.

https://www.ftadviser.com/property/2022/01/26/fraud-firm-wound-up-after-taking-1m-from-investors/

Britain’s gambling industry is being warned that the Commission ‘will use all tools at its disposal to ensure consumer safety’ following enforcement action involving suspending an online casino from operating and then fining it £3.8m.

https://www.gamblingcommission.gov.uk/news/article/licence-suspension-and-gbp3-8m-fine-for-genesis-global-limited