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Huge penalty levied by the watchdog after a whistleblower sounded the alarm and the FCA launched an investigation which found firm failed to train staff to give suitable advice.
The UK's efforts to tackle money-laundering are "highly fragmented" and need greater focus, an influential committee of MPs has warned.
https://www.bbc.co.uk/news/business-47490567
The UK's Office of Financial Sanctions Implementation (OFSI) has imposed its first monetary penalty for a breach of financial sanctions using its civil enforcement powers
Revolut is facing a police probe over a money transfer, adding to the fast-growing fintech firm’s woes after a series of controversies.
https://www.aol.co.uk/news/2019/03/05/police-assessing-revolut-over-money-transfer-complaint/?a_dgi=aolshare_twitter&guccounter=1&guce_referrer_us=aHR0cHM6Ly90LmNvL3cyUGFvYTJCYW4_YW1wPTE&guce_referrer_cs=gXCLa3TQRaMRE5TMAkWNJw&guce_referrer=aHR0cHM6Ly93d3cuYW9sLmNvLnVrL25ld3MvMjAxOS8wMy8wNS9wb2xpY2UtYXNzZXNzaW5nLXJldm9sdXQtb3Zlci1tb25leS10cmFuc2Zlci1jb21wbGFpbnQvP2FfZGdpPWFvbHNoYXJlX3R3aXR0ZXI&guce_referrer_sig=AQAAAGUs4AML7_Dfhfw0slpBNIzGzomFWPABxpOAIbJwz7kPoDenm4TKPRRKTeBp8iNWo0ic2onTTWcyRybiw80uRSMN1a1s8rsnyitJZonbqKlDDisBslMr2FZokW5RegGEQFrMAjH3sDWDP707Yizl9BC9CxuQpwNmjgOufnC3HGnT
A day of action coordinated by the newly formed National Economic Crime Centre (NECC) will seek to freeze 95 bank accounts containing an estimated £3.6m.
http://nationalcrimeagency.gov.uk/news/news-listings/1573-multi-agency-day-of-action-to-freeze-95-bank-accounts-suspected-of-laundering-millions
Action Fraud is warning Instagram users to be wary of fraudulent investment posts offering ‘get rich quick’ schemes on the app.
https://www.actionfraud.police.uk/news/instasham-fraudulent-investments-being-advertised-on-social-media
£550,000 raised by Wilsons Auctions as first private auction company to sell seized crypto currency & luxury assets
https://www.wilsonsauctions.com/news/leading-auction-company-in-worlds-first-seized-bitcoin-luxury-assets-auction/
John Varley denies involvement in talks that are now at heart of criminal trial
https://www.theguardian.com/business/2019/feb/28/barclays-former-chief-john-varley-defends-2008-qatari-investment-at-trial?CMP=share_btn_tw
A prolific money launderer who processed more than £6m has been convicted after a National Crime Agency investigation.
Like most scams, it will be years before Bitconnect’s operators have felt the full weight of their actions. However, the US government wants victims to help bring the $2.5 billion crypto Ponzi scheme to justice.
https://www.ccn.com/fbi-victims-2-5-billion-crypto-scam-bitconnect
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