Financial

Two board members of oil exploration and production company Afren, are facing long prison sentences after being found guilty of fraud and money laundering offences at Southwark Crown Court

https://economia.icaew.com/news/october-2018/afren-ceo-and-coo-found-guilty-of-fraud

A Gambling Commission investigation has revealed that Paddy Power Betfair (PPB) failed to adequately interact with customers who were displaying signs of problem gambling and failed to adequately carry out anti-money laundering checks.

https://www.gamblingcommission.gov.uk/news-action-and-statistics/news/2018/Paddy-Power-Betfair-to-pay-penalty-package-for-social-responsibility-and-money-laundering-failures-on-its-gambling-exchange.aspx#PaddyPowerBetfairpublicstatement

Investment is often based on trust and research, but that doesn't make an investor immune to investment fraud.

http://uk.businessinsider.com/investment-advice-warning-signs-of-investment-fraud-2018-10

The Financial Conduct Authority (FCA) has warned the public about dealing with Unicominsurance.net as a cloned firm.

https://www.insuranceage.co.uk/broker/3653336/fca-issues-another-clone-broker-warning

The 'Confirmation of Payee' service has been developed by Pay.UK, which runs the UK's retail payment systems and oversees bank transfers and direct debits.

https://www.moneysavingexpert.com/news/2018/10/new-name-check-service-to-help-prevent-fraud/

The Serious Fraud Office (SFO) is reportedly mulling a new investigation into allegations that Lloyds Bank had a plan to cover up fraud at its HBOS branch in Reading.

http://www.cityam.com/265579/serious-fraud-office-mulls-new-investigation-into-hbos

A City of London Police investigation revealed money launderer had control of six Facebook accounts and an Instagram account he used in the recruitment of money mules.

http://news.cityoflondon.police.uk/r/1125/jail_for_money_launderer_who_used_facebook_to_rec

Financial fraud is a worldwide issue and it will come as no surprise that fraudsters take extreme measures to cover their tracks and hide the money they have taken from unsuspecting investors.

http://www.mondaq.com/uk/x/744456/White+Collar+Crime+Fraud/Forex+Fraud+The+Continuing+Fight+Against+Sham+Brokers

The Financial Conduct Authority (FCA) has published two consultation papers, setting out its proposals in the event the UK leaves the European Union on 29 March 2019 without an implementation period.

https://www.fca.org.uk/news/press-releases/fca-consults-brexit-approach

Banking lobby UK Finance has floated the idea of imposing a universal tax on funds transfers which banks could dip into to compensate victims of push payments fraud.

https://www.finextra.com/newsarticle/32762/uk-finance-proposes-payments-tax-to-compensate-fraud-victims