Financial

The new deputy co-lead of the UK Financial Conduct Authority has warned misbehaving companies that time is up on fraud and the promotion of harmful services.

https://www.cdr-news.com/categories/competition-and-business-crime/18938-fca-vows-crackdown-on-misconduct

UK losses to crypto fraud increased more than 40 per cent over the past year, surpassing £300mn for the first time, according to Britain’s fraud reporting agency.

https://www.ft.com/content/88602223-004b-4e27-b9eb-c45e1f850f9f

LONDON (Reuters) - A British foreign exchange company boss who used investors' cash to fund a luxury lifestyle was convicted in a London court over his role in a 50 million pound ($62 million) Ponzi-style scheme.

https://uk.style.yahoo.com/british-forex-boss-convicted-62mln-140438977.html?soc_src=social-sh&soc_trk=tw&tsrc=twtr

The United Arab Emirates’ highest court on Tuesday ordered a British hedge fund trader convicted of orchestrating a 1.7 billion US dollars (£1.36 billion) tax fraud to pay that amount to Denmark’s tax authority.

https://www.bordertelegraph.com/news/national/23530056.british-financier-ordered-pay-danish-taxman-1-36bn-fraud/

Two men have today been jailed for their involvement in an illegal investment scheme that defrauded hundreds of victims out of millions.

https://www.thebusinessdesk.com/eastmidlands/news/2071588-ex-football-club-chairman-jailed-in-4m-ponzi-fraud

A FINANCIAL advisor charged with 28 counts of fraud has pleaded not guilty.

Richard Webb, 64, appeared in the dock of Salisbury Crown Court on Thursday, April 27, to submit his plea.

Two men who were involved in an illegal investment scheme that conned hundreds of victims out of millions have today been found guilty.

https://www.lincs.police.uk/news/lincolnshire/news/2023/apr-2023/two-men-found-guilty-of-4-million-fraud/

Anthony Constantinou’s trial to continue in his absence

Firm’s boss denies all seven fraud charges against him

Find out more about our work on reducing money laundering through cash deposits via the Post Office and our current expectations of firms’ controls.

In 2020, the UK National Risk Assessment of Money Laundering and Terrorist Financing highlighted an increase in criminal abuse of cash deposit services such as those offered at the Post Office.

https://www.fca.org.uk/firms/financial-crime/cash-based-money-laundering

An elderly couple who lost their £80,000 life savings to a fraudster pretending to be endorsed by Martin Lewis claim they were told by their account holder Revolut to use a foodbank when they asked for their money back.

https://www.msn.com/en-gb/money/other/pensioners-who-lost-%C2%A380000-told-to-use-a-foodbank-by-revolut/ar-AA1adwM2