Financial

Haydee Daniel from Henley was sentenced to four and a half years’ imprisonment at Wood Green Crown Court last Thursday after a four-week trial for fraud.

Ms Daniel scammed a couple in Islington after they were offered fraudulent financial investment returns between January and May 2018 in excess of £230,000.

The UK’s payments regulator has published the first entry in a new data series tracking how individual banks have been affected by and responded to authorised push payment (APP) fraud.

The Payment Systems Regulator collected figures from the country’s 14 largest banks, as well as nine smaller firms that were among the top receivers of money from fraud.

Pimfa has renewed its call for the Financial Conduct Authority to have a greater role in combating fraud, in response to a call for evidence from the Home Affairs Committee.

The HAC has just closed its evidence-gathering inquiry into fraud, following the Home Office launching its fraud strategy in May this year.

https://www.ftadviser.com/trade-bodies/2023/10/24/pimfa-calls-for-fca-to-have-a-role-in-combating-fraud/

A man who was scammed out of more than £130,000 worth of cryptocurrency has appeared on a TV show to talk about his devastating experience.

Steve Williams, from Bolton, appeared on the BBC One's Rip Off Britain yesterday morning, Monday.

A review launched by the UK Financial Conduct Authority (FCA) has underlined how “critical” financial services firms' sanctions systems and controls are for preventing financial crime, according to legal and forensic accounting experts.

https://www.pinsentmasons.com/en-gb/out-law/news/fca-tells-uk-firms-to-bolster-financial-crime-and-sanctions-controls

A Turkish cryptocurrency boss and his two siblings have been jailed for 11,196 years each for defrauding investors of millions of dollars.

Faruk Fatih Ozer, 29, fled to Albania in 2021 with investor assets after his Thodex exchange suddenly collapsed.

A bogus financial advisor who defrauded vulnerable people out of nearly £900,000 to fund his gambling addiction has been jailed for more than five years.

Sentencing Peter Grant Holbrook at Bradford Crown Court, Recorder Richard Thyne said he selected his victims "because they were elderly or because at the time you chose to prey on them they were at their most vulnerable – having suffered the loss of a loved one."

The High Court has ruled in favour of the FCA against Robin Forster, the director of a company which took £57 million from 380 investors in an illegal care home investment scheme.

https://www.fca.org.uk/news/press-releases/financial-watchdog-wins-civil-case-against-ponzi-like-care-home-investment-scheme

A man from Surrey convicted for running schemes to help criminals launder their cash is wanted by the National Crime Agency after he failed to turn up to a sentencing hearing.

Lenn Mayhew-Lewis, a 68-year-old Jamaican national from Oxted, Surrey, played a leading role laundering money for organised criminals and was arrested in July 2020.

https://nationalcrimeagency.gov.uk/news/wanted-money-launderer-who-ran-professional-services-for-organised-crime-groups

Two prolific fraudsters have been jailed for their involvement in the sale of shares in a fictitious cryptocurrency.

Ross Jay, 33, and Michael Freckleton, 37, were found guilty of conspiracy to defraud and sentenced today at Southwark Crown Court to six years and three months and six years and six months, respectively, following a five week-long trial.