Fraud Newsletter 56 – June 2021

July 7, 2021

Fraud Newsletter 56 – June 2021


Bankers Book Evidence Act 1879 s7: applies only to UK “legal proceedings” and the documents referred to are transactional records, and do not include exclude those maintained for regulatory compliance: Meng v HSBC [2021] EWHC 342 (QB).


Appropriate to dispense with Notice of Application to appoint enforcement receiver where D had absconded 19 years ago and confiscation order unpaid: CPS v Ashgar (Westlaw)

Parker v FCA & Anor [2021] EWCA Crim 956 s.10 POCA determination of D’s interest in property. Victim obtained interest through common intention constructive trust following agreement with D.


Proceeds of Crime Act 2002 Code of Practice Orders (coming into force on 28 June 21) (i) (Investigations) Order 2021: S.I. 2021 No. 726; (Recovery of Listed Assets) Order 2021 2021. S.I. 2021 No. 727; (Cash Searches) Order 2021: S.I. 2021 No. 728; (Investigative Powers of Prosecutors) Order 2021 SI 2021 No. 747

See below for Codes of Practice.

POCA (References to Financial Investigators) (England and Wales and Northern Ireland) Order 2021. S.I. No. 2021 640 lists financial investigators accredited under the POCA s 453.


Corporate Criminal Liability: A Discussion Paper: Law Com. 9 Jun 21

Money Laundering Offences: Legal Guidance: CPS: updated 2 Jun 21 re prosecuting standalone failure to disclose under s330 POCA to MLRO or NCS. Prosecution even if insufficient evidence to establish ml has occurred. Suspicion is enough.

Codes of Practice issued under POCA on 28 June 21: (i) Recovery of cash: Search Powers ; (ii) Recovery of Listed Assets: Search Powers ; (iii) Investigations; (iv) Investigative Powers of Prosecutors.

Guidance under s2A POCA for Relevant Authorities: (NCA, SFO, FCA, HMRC, CPS): Home Office 28 Jun 21.

The auditor’s responsibilities relating to fraud in an audit of financial statements: FRC: ISA (UK) 240: revised 27 May 21.

Fraud and Error: Public Accounts C’tee Report: exposure to Bounce back loan fraud estimated between £16b and £27b: 30 Jun 21. Summary.

Change in Financial Conduct Authority’s culture needed to protect consumers and financial markets: Report Summary HoC Treasury C’tee: 24 Jun 21. Full Report.

Understanding money laundering risks and taking action for art market participants: HMRC Guidance: 28 Jun 21.

Money Laundering from Environmental Crime: FATF 28 Jun 21.

MONETVAL: Annual Report 2020: (EU Committee of Experts on the Evaluation of anti-money laundering measures and the financing of terrorism)

Consultation on our approach to the investigation and prosecution of the new criminal offences: re s58 Pensions Act 2994 offences: The Pensions Regulator.

Global Corruption Barometer EU: People worries about unchecked abuses of power: Transp. Int. 15 Jun 21.

Economic Crime: HoC Treasury Com’tee: 14 Jun 21: Transcript of evidence from Mark Steward (FCA), Simon Yorke (Fraud Investigations HMRC), Chris Hemsley (MD, Payments Systems Regulator) and Martin Swain (Director of Strategy etc , Companies House) focussing mainly on growth of online fraud / cybercrime.

2nd Progress Report on the implementation of the EU Security Union Strategy: 23 Jun 21 includes cyber security and other shared security risks: joint Cyber Unit proposed. Press Release Summary







·         One in three Brits targeted by a scammer so far during lockdown Citizens Advice: 15 Jun 21.