Financial

A former investment adviser has been sentenced to five years and ten months in prison for money laundering as part of an organised crime group.

https://www.ftadviser.com/regulation/2021/09/09/ex-adviser-jailed-after-laundering-money-for-organised-crime-group/

The Financial Conduct Authority has apologised after its supervision hub provided incorrect information to an individual about a passporting firm.

https://www.ftadviser.com/fca/2021/09/08/fca-under-fire-for-providing-false-information/

Former Manchester United midfielder, Anderson, is under investigation for his alleged involvement in a money laundering operation.

https://thepeoplesperson.com/2021/08/21/former-manchester-united-midfielder-anderson-under-investigation-for-involvement-in-money-laundering-ring-235660/

New research from Experian has revealed that bank account fraud is now tracking at its highest level for more than three years. Drawing on the latest data from the National Hunter Fraud Prevention Service, the analysis uncovered an alarming surge in fraudulent activity targeting British businesses and consumers.

https://thefintechtimes.com/confirmed-fraudulent-savings-accounts-rise-by-170-finds-experian/

The limit on contactless payments will rise from £45 to £100 from October 15, in a bid to get people to spend more in shops.

https://www.itv.com/news/2021-08-27/contactless-payment-rise-to-100-sparks-concern-about-crime

Savers have little trust in online financial adverts with more than half believing they are not posted by legitimate companies, Aviva has found.

https://www.ftadviser.com/your-industry/2021/08/24/low-trust-in-online-financial-ads/

A new global network set up to share best practice and tackle crypto fraud has launched in London with Grant Thornton joining forces as the scale of crypto-fraud continues to ramp up.

https://www.icaew.com/insights/viewpoints-on-the-news/2021/aug-2021/grant-thornton-joins-global-network-to-combat-crypto-fraud

British detectives have seized $22.25 million from operators of an international cryptocurrency scam. Among the items seized was a USB stick containing ethereum worth $9.5 million. The police are now attempting to contact the victims of this scam to return their funds.

https://news.bitcoin.com/uk-police-seize-usb-stick-ethereum-worth-9-5-million/

Binance is one of the leading crypto assets exchanges globally. Since its establishment, the firm has seen tremendous growth.

https://www.thecoinrepublic.com/2021/08/14/binance-will-look-for-crypto-hackers-in-london-court/

The Financial Conduct Authority received a total of 2,754 separate allegations of misconduct in the past 12 months, including fraud, money laundering and compliance complaints.