Financial Crime Watch - May 2023
Welcome to Financial Crime Watch, our quarterly review of developments in financial crime, regulatory updates and relevant cases, brought to you by °ÄÃÅÁùºÏ²Ê×ÊÁÏ’s Criminal Compliance and Regulatory Team.
In each issue, we feature publications and announcements relating to fraud, bribery, sanctions and money laundering, as well as regulatory compliance. We look at the implications for our clients inside the financial services sector and beyond.
In this edition, amongst other news, we look at the Home Office’s new Fraud Strategy 2023, the Economic Crime Plan 2023-2026 and the government’s response to the House of Lord’s committee report on the Fraud Act 2006. We also report on recent updates to the case law on sanctions, including LLC Synesis v SS for Foreign, Commonwealth and Development Affairs [2023] EWHC 541 (Admin) and R v Bluu Solutions Limited and Tetris Projects Limited.
We hope you find our publication interesting and useful.
Contents
- Fraud Strategy: Stopping Scams and Protecting the Public
- Economic Crime Plan 2023-2026
- The House of Lords Fraud Act 2006 and Digital Fraud Select Committee Report
- Sanctions round-up - May 2023
- Money laundering and terrorist financing update - May 2023
- SFO secures first conviction for individual connected to Deferred Prosecution Agreement
- Fraud – early success for the SFO
Contributors
Helen Simm
Partner
Harriet Fitzsimons
Associate
Kim Roberts
Associate
Paul Wainwright
Partner
Jeremy Irving
Partner
Andrew Hopkin
Partner
Key contact
You may be interested in...
°ÄÃÅÁùºÏ²Ê×ÊÁÏ
Environmental crime and the impact for insurers
°ÄÃÅÁùºÏ²Ê×ÊÁÏ
Strengthening the fight against financial crime: A unified approach
°ÄÃÅÁùºÏ²Ê×ÊÁÏ - Financial Crime Watch
Financial Crime Watch: October 2024
°ÄÃÅÁùºÏ²Ê×ÊÁÏ
Starling: Paying the price for failures in financial crime systems and controls
°ÄÃÅÁùºÏ²Ê×ÊÁÏ
FRC awards financial sanctions against MacIntyre Hudson LLP and two former employees for breach of audit requirements
°ÄÃÅÁùºÏ²Ê×ÊÁÏ
Publication of Home Office’s Preliminary Findings and Direction of Travel in relation to the disclosure process
°ÄÃÅÁùºÏ²Ê×ÊÁÏ
The downfall of Vesttoo: Fraudulent letters of credit
°ÄÃÅÁùºÏ²Ê×ÊÁÏ
Failure to prevent fraud: how can my organisation prepare?
°ÄÃÅÁùºÏ²Ê×ÊÁÏ
Fraud Strategy: Stopping Scams and Protecting the Public
°ÄÃÅÁùºÏ²Ê×ÊÁÏ
The House of Lords Fraud Act 2006 and Digital Fraud Select Committee Report
°ÄÃÅÁùºÏ²Ê×ÊÁÏ
Sanctions round-up - May 2023
°ÄÃÅÁùºÏ²Ê×ÊÁÏ
SFO secures first conviction for individual connected to Deferred Prosecution Agreement
°ÄÃÅÁùºÏ²Ê×ÊÁÏ
Fraud – early success for the SFO
°ÄÃÅÁùºÏ²Ê×ÊÁÏ - Financial Crime Watch
Financial Crime Watch - May 2023
°ÄÃÅÁùºÏ²Ê×ÊÁÏ
FCA warns that vulnerable to scams amid cost of living crisis
Opinion
Draft Bill published to establish a Register of Overseas Entities
The Government has this week published the Economic Crime (Transparency and Enforcement) Bill as part of its measures to crack down on foreign criminals using property in this country to launder money. The Bill proposes the establishment of a Register of Overseas Entities to be maintained by Companies House.