Hello, and welcome to this week in financial crime. I’m your host, Chris Kirkbride. The world of financial crime gets a bit busier this week as 2023 starts to warm up. A good range of fraud stories, with a lot from the UK National Cyber Security Centre, including some interesting free events to attend. The UK Financial Conduct Authority has also been busy too. Let’s just get on with it.

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

Companies House, Register of Overseas Entities Reminder Letter.

Companies House, Disposing of UK property as an overseas entity.

Council of Europe, Criminal Law Convention on Corruption.

Financial Action Task Force, Consolidated Assessment Ratings.

Financial Conduct Authority, Final Notice: Guaranty Trust Bank (UK) Ltd.

Financial Conduct Authority, FCA fines Guaranty Trust Bank (UK) Limited £7.6million for further failures in its anti-money laundering systems and controls.

Financial Conduct Authority, Final Notice: Al Rayan Bank plc.

Financial Conduct Authority, FCA penalises Al Rayan Bank PLC for anti-money laundering failures.

Financial Conduct Authority, Letter to wholesale brokers.

Financial Conduct Authority, Market Watch 62.

Financial Conduct Authority, Market Watch 69.

Financial Conduct Authority, 2023 Fines.

Insolvency Service, Coventry artist hit with 7-year ban for abusing Bounce Back Loan.

National Cyber Security Centre, NCSC Digital Loft: Updating the Cyber Essentials technical requirements for 2023.

National Cyber Security Centre, NCSC Digital Loft: Incident Management & the cyber threat from Russia.

National Cyber Security Centre, Threat Report 13th January 2023.

Office for Professional Body Anti‑Money Laundering Supervision (OPBAS), Sourcebook for professional body anti‑money laundering supervisors.

Spotlight on Corruption, From Serious Farce to Serious Force – 4 priorities for beefing up the Serious Fraud Office in 2023.

Spotlight on Corruption, Tribunal’s Covid loan scheme ruling should not let the government off the hook.

Hello, and welcome to this week in financial crime. I’m your host, Chris Kirkbride. The world of financial crime continues to have a gentle movement into 2023. Nevertheless, some interesting stories this week concerning Abramovich, the sanctioned Russian oligarch, some interesting fraud news, especially in light of last week’s story about possible removal of cyber insurance, and we end with a good range of money laundering stories from around the world. Let’s crack on with it.

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

Forbes, Russian Billionaire Roman Abramovich Owns 16 Yachts And Vessels, 10 More Than Previously Known.

The Guardian, Leak reveals Roman Abramovich’s billion-dollar trusts transferred before Russia sanctions.

U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), Treasury Sanctions Suppliers of Iranian UAVs Used to Target Ukraine’s Civilian Infrastructure.

Hello, and welcome to this week in financial crime. I’m your host, Chris Kirkbride. It has, as I would expect, between the Christmas and New Year period, been a quiet period for financial crime stories. Nevertheless, there are a few interesting tit-bits, including a significant comment from the CEO of Zurich, the global insurance company. Let’s crack on with it.

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

The Guardian, Gibraltar: UK police asked to help with inquiry into alleged government corruption.

Hello, and welcome to this week in financial crime. I’m your host, Chris Kirkbride. It has, as I would expect in those countries that observe Christmas, been a quiet period in the run-up to the holidays. So, I’ve gone back a week to cover something which I dropped last week, to go alongside the usual mix of money laundering, fraud and sanctions. As usual, the links, where available, to key stories are in the podcast description. Let’s crack on with it.

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

European Commission, Anti-money laundering: the Commission updates its list of high-risk third-country jurisdictions to strengthen the international fight against financial crime (news article).

European Commission, COMMISSION DELEGATED REGULATION (EU) /... amending Delegated Regulation (EU) 2016/1675 as regards adding Democratic Republic of the Congo, Gibraltar, Mozambique, Tanzania and United Arab Emirates to the table I of the Annex to Delegated Regulation (EU) 2016/1675 and deleting Nicaragua, Pakistan and Zimbabwe from that table.

National Crime Agency, SARs in Action.

National Crime Agency, Vulnerablity and/or Welfare Concerns for Individuals.

UK government, Updated sanctions guidance.

UK government, Anti-money laundering and countering the financing of terrorism: Supervision Report 2020-22.

US Department of Justice, Felon Pleads Guilty to PPP Loan Fraud, Money Laundering and Drug Offenses.

US Department of Justice, Ian Freeman Convicted On All Counts Relating To Bitcoin Money Laundering Scheme.

US Department of the Treasury Office of Foreign Assets Control, 18 individuals and entities added to Specially Designated Nationals and Blocked Persons List.

US State Department, The United States Imposes Sanctions on Russian Naval Entities.

Hello, and welcome to this week in financial crime. I’m your host, Chris Kirkbride. It has been a dramatically busy week this week, and there’s me thinking that things might be calming down as we approach the holiday season. This week, the UK financial conduct regulator has been busy issuing fines, a bit of bribery and corruption news has come out, and some useful resources updated and published for anyone working in compliance globally. Let’s crack on with it.

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

Dentons, Anti-Bribery and Anti-Corruption Laws: Prohibited conduct, penalties and prosecution.

European Council, Russia’s war of aggression against Ukraine: EU adopts 9th package of economic and individual sanctions.

European Parliament, Passes resolution in light of Qatar bribery and corruption issue.

European Payments Council, 2022 Payment Threats and Fraud Trends Report.

European Union, Fraud prevention portal.

UK Crown Prosecution Service, Three city workers found guilty in a £17.8m hedge and wealth fund fraud.

UK Financial Conduct Authority, FCA fines Santander UK £107.7 million for repeated anti-money laundering failures.

UK Financial Conduct Authority, The Final Notice for Santander UK plc.

UK Financial Conduct Authority, FCA fines Metro Bank PLC £10 million and publishes Decision Notices for two of its former executive directors.

UK Financial Conduct Authority, Final Notice for Metro Bank PLC.

UK Financial Conduct Authority, Decision Notice for Craig Donaldson.

UK Financial Conduct Authority, Decision Notice for David Arden.

UK Financial Conduct Authority, Festive shoppers at rising risk of loan fee scams as fraudsters pile on the pressure at Christmas.

UK Financial Conduct Authority, Loan Fee Fraud Information.

UK Financial Conduct Authority, Multi-factor authentication for FCA systems.

UK government, New UK sanctions target senior Russian commanders following strikes on Ukrainian civilian infrastructure.

US Securities and Exchange Commission, SEC Charges Samuel Bankman-Fried with Defrauding Investors in Crypto Asset Trading Platform FTX.

US Securities and Exchange Commission, SEC Charges Eight Social Media Influencers in $100 Million Stock Manipulation Scheme Promoted on Discord and Twitter.

Hello, and welcome to this week in financial crime. I’m your host, Chris Kirkbride. Money laundering and sanctions top the bill this week, with some regulatory enforcement thrown in, and there are also some consultations opening this week.

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

European Banking Authority, EBA consults on new Guidelines to tackle de-risking.

Financial Conduct Authority, FCA fines three broker firms £4,775,200 for failures relating to the detection of market abuse.

Financial Conduct Authority, FCA publishes Decision Notices against three bond traders for market manipulation.

Payment Systems Regulator, PSR takes steps towards greater transparency on APP scam data across banks and building societies.

Spotlight on Corruption, Spotlight writes to Justice Secretary and SFO Director (full letter).

The Council of the Europe Union, Human rights violations: EU restrictive measures prolonged for a further year.

Trading Standards Scotland, A-Z of Scams.

Uk Government, Proceeds of Crime Act 2002: changes to bodies granted investigatory powers.

UK Government Sanctions Regime, The Russian Oil Price Cap (General licence INT/2022/2469656).

UK Government Sanctions Regime, The Winddown licence (General licence INT/2022/2470256).

UK Government Sanctions Regime, General licence (General licence INT/2022/2470056).

UK Government Sanctions Regime, General licence (General licence INT/2022/247015).

UK Insolvency Service, Glasgow engineer banned for £100k Bounce Back Loan abuse.

UK Insolvency Service, Two Leicestershire company directors banned for a total of 19 years.

Hello, and welcome to this week in financial crime. I’m your host, Chris Kirkbride. Money laundering and sanctions top the bill this week, with some regulatory enforcement thrown in for good measure.

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

Council of Europe, Anti-money laundering and counter-terrorist financing measures, Isle of Man: 4th Enhanced Follow-up Report & Technical Compliance Re-Rating.

Council of the European Union, Sanctions: Council adds the violation of restrictive measures to the list of EU crimes.

Financial Action Task Force, FATF updates consolidated assessment ratings.

Financial Action Task Force, Money Laundering from Fentanyl and Synthetic Opioids.

Financial Action Task Force, FATF schedules webinar on money laundering through real estate sector.

Financial Conduct Authority, Final Notice: Carlo Palombo.

Financial Conduct Authority, FCA fines Julius Baer International Limited £18m and publishes decision notices for three individuals.

Joint Money Laundering Steering Group, JMLSG final amendments to Part 1 of its Guidance.

National Crime Agency, NCA secures £50m identified by Barclays as the proceeds of crime.

Solicitors Regulation Authority, Guidance: Complying with the UK Sanctions Regime.

UK Financial Intelligence Unit, SARs Reporter Booklet.

UK government, UK sanctions Russian officials behind conscription, mobilisation and criminal mercenaries.

Hello, and welcome to this week in financial crime. I’m your host, Chris Kirkbride. Another busy week this week. It’s mainly fraud and money laundering which dominates the stories this week, but there are some other bits and pieces just to keep it from getting boring.

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

Chartered Trading Standards Institute (CTSI), CTSI urges shoppers to be careful what they bargain for this Black Friday.

Counter-fraud initiative, Take Five to Stop Fraud.

European Banking Authority, EBA publishes guidelines on remote customer onboarding.

Interpol, Cyber-enabled financial crime: USD 130 million intercepted in global INTERPOL police operation.

JD Supra, Supreme Court To Consider the Boundaries of Bribery.

Metropolitan Police, More than 100 arrests in UK's biggest ever fraud operation.

UK Government, UK ban on Russian oil an oil products.

UK Government, Security Minister welcomes new support for fraud victims.

UK Insolvency Service, Retailers disqualified after abusing covid loans.

UK Insolvency Service, Hebburn engineering boss banned for Bounce Back Loan abuse.

UK Insolvency Service, Southampton nursing agency boss given 11-year ban for abuse of Bounce Back Loan scheme.

UK Insolvency Service, Essex property developer banned for falsely claiming Bounce Back Loan.

US Department of Justice, Four Defendants Indicted for Securities Fraud, Conducting International Pump-and-Dump Scheme, and Money Laundering.

This financial crime weekly special edition takes a brief look at the National Audit Office report, Progress Combatting Fraud. Usual weekly podcast is back on Sunday this week.

Hello, and welcome to this week in financial crime. I’m your host, Chris Kirkbride. Another busy week this week. Sanctions, money laundering, fraud, cyber, and regulatory enforcement. More life-affirming content from the world of financial crime. Let’s make a start.

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

City AM, Exclusive: The WhatsApp scandal in banking and its place in the City.

Criminal Cases Review Commission, Fraud conviction overturned after latest CCRC Post Office referral.

European Securities and Markets Authority, Report: Administrative and criminal sanctions and other administrative measures imposed under the Market Abuse Regulation in 2021.

Financial Conduct Authority, Date set for trial against 5 individuals involved with Worthington Group plc.

Financial Conduct Authority, FCA bans director from working in financial services after violent criminal conviction.

Financial Conduct Authority, FCA issues Final Notice to former CEO for anti-money laundering failings.

Guernsey government, Economic & Financial Crime Bureau now enshrined in Law.

National Audit Office, Progress Combatting Fraud.

Office of Foreign Assets Control (‘OFAC’), Treasury Sanctions Global Russian Military Supply Chain, Kremlin-linked Networks, and Elites with Western Fortunes.

Payment Systems Regulator, Memorandum of Understanding between the Payment Systems Regulator (‘PSR’) and the Lending Standards Board (‘LSB’).

Securities and Exchange Commission, Commission filed 760 enforcement actions and recovered record $6.4 billion in penalties and disgorgement on behalf of investing public.

TRACE, Bribery Risk Matrix.

UK government, UK and international partners announce further sanctions against Iranian officials.

UK Insolvency Service, Suspended prison sentence for Bounce Back Loan fraudster.

UK Legislation, The Money Laundering and Terrorist Financing (HighRisk Countries) (Amendment) (No. 3) Regulations 2022.

UK Legislation, The Money Laundering and Terrorist Financing (HighRisk Countries) (Amendment) (No. 3) Regulations 2022: Explanatory Note.

UK Office of Financial Sanctions Implementation, Oil Price Cap Update.