Hello, and welcome to this week in financial crime. I’m your host, Chris Kirkbride. It’s been a bumper week of interesting stories. Lots of different bits and pieces on sanctions, some anti-money laundering enforcement action, and a couple of high-profile reports on fraud and exploitation of LLPs for purposes of economic crime. So, we’d best get on with it.

These are the links to the principal documents mentioned in the podcast:

Financial Conduct Authority, Press Release: FCA fines Gatehouse Bank £1.5m for poor anti-money laundering checks.

Financial Conduct Authority, Decision Notice: Gatehouse Bank plc.

HMRC, HMRC cracks down on unlawful estate agents.

Insolvency Service, Director of Pembroke restaurant company banned for seven years.

Kish Parella Blog Post, Corporate Self-Sanctions.

Law Society, Proportionality of the SRA’s extra powers in combatting economic crime must be considered

Payment Systems Regulator, PSR directs 400 firms to introduce the payment protection measure, Confirmation of Payee.

Transparency International, Partners in Crime: Analysing the Potential Scale of Abuse of Limited Liability Partnerships in Economic Crime.

UK Finance, 2022 Half Year Fraud Update.

US Treasury Department, Treasury Announces Two Enforcement Actions for over $24M and $29M Against Virtual Currency Exchange Bittrex, Inc.