Fraud Newsletter 57 – JULY 2021
Pitcher  EWCA Crim 1013: Modified ‘Lucas’ direction may be appropriate re lies told by pros witness if D relies on them as evidence of witness being guilty of offence.
SFO secures 2 DPAs with UK companies: Details are not available beyond the SFO press release: 20 Jul 21: reporting restrictions apply.
Jones  EWCA Crim 1195: material obtained from D pursuant to Norwich Pharmacal order could be admitted against her at subsequent criminal trial (private prosecution)
SENTENCING AND CONFISCATION
Hilsdon  ERWCA Crim 52,  1 Cr.App.R. (S) 21 (Westlaw). 5 year fraud guidelines starting point too high for strict liability offences with no culpable dishonesty:
BILLS, STATUTES & STATUTORY INSTRUMENTS
Money Laundering and Terrorist Financing (Amendment) (No 2) (High-Risk Countries) Regulations 2021 S.I. 2021 No.82 in force 13 Jul 21 substituting new list of high-risk countries for enhanced due diligence re reg 33(3).
CONSULTATIONS, GUIDANCE, CIRCULARS AND REPORTS
Opportunities and Challenges of New Technologies for AML/CFT: FATF: 1 Jul 21.
Call for Evidence: Review of UK’s AML/CFT regulatory and supervisory regime: 22 Jul 21: HM Treasury. Responses by 14 Oct 21.
Modernising Communications Offences: A final report: Law Comm No. 399 (HC 547) & Summary: 21 Jul 21.
Beating Crime Plan: Chapter 4 – Building capability to deal with fraud, cyber and online crime: pp 42-45 Home Office: 27 Jul 21: pp
- Lloyds Bank fined £90.7m for misleading home insurance customers: Independent: 9 Jul 21
- Stephen Allen pleads guilty to forgery: following proceedings brought against Renwick Haddow for operating unauthorised collective investment schemes: F.T. Advisor 13 Jul 21.
- Overview of enforcement action: Annual Report and Accounts 20/21: 15 Jul 21.
- Business Plan 2021/2022 : 15 Jul 21 and Chief Executive’s Summary
- 4 years imprisonment for fraudulent trading and carrying on regulated activities without authorisation: FCA: 26 Jul 21
- Rio Tinto faces FCA probe into $6.75 billion Mongolian Mine: Reuters 27 Jul 21
- Monzo under investigation by FCA over anti-money laundering rules: Guardian 30 Jul 21
- £2m civil recovery settlement from London based property developer: action based on alleged involvement in cannabis cultivation, money laundering and fraud: 15 Jul 21
- Annual Report and Accounts: 2020-21: 16 Jul 21: ML, Fraud, Cybercrime etc pp 24-26.
- £103m DPA with Amec Foster Wheeler Energy Ltd: 2 Jul 21
- SFO ordered to reveal potentially ‘improper’ contacts with fixer: F.T. 1 Jul 21.
- Reports Hit Highest Level in 4 years: City A.M. 6 Jul 21.
- Annual Report and Accounts 2020-2021 16 Jul 21
- SFO Secures two DPAs with companies for Bribery Act offences: SFO: 20 Jul 21
- An Inspection of the operation of the CPS and SFO Proceeds of Crime Divisions: HMCPSI: 21 Jul 21
- Met Police seize nearly £180m of bitcoin in money laundering investigation: Guardian 13 Jul 21.
- Pensions regulator examining treatment of Ralph and Russo retirement scheme: Drapers Online 12 Jul 21
- British Businessman Mike Lynch (founder of Autonomy) faces extradition to US: Guardian 22 Jul 21
EU & ABROAD:
- New EU Anti-Money laundering Authority (AMLA) to be established as part of extensive review: 20 Jul 21
- $380m alleged bribery network in DRC Bloomberg 15 Jul 21
- Ex-Glencore exec reaches plea deal in US accepting involvement in paying bribes in Nigeria: Energy Voice 27 Jul 21
- German Federal Court confirms “cum-ex” transactions are illegal: dismisses appeal by 2 British traders: upholds €14m and order MM Warburg bank pay back €176m: Euracity: 29 Ju 21.