July 22, 2022
Cases
Cryptocurrency fraud: novel service by NFT airdrop: (i) service of proceedings allowed by an NFT airdrop to 2 cryptocurrency wallets (allowing victims of cryptoasset frauds to sue persons unknown) (ii) recognised 5 cryptocurrency exchanges holding P’s identifiable stolen cryptocurrency as constructive trustees: D’Aloia v Persons unknown and Binance Holdings Ltd: [2022] EWHC 1723 Ch. Lawnews summary.
Sentencing & confiscation
S41(4) POCA does not prevent payment of reasonable legal expenses in related or other civil proceedings: Luckhurst [2022] UKSC 23.
Bills, statutes & SIs
Consultations, guidance, circulars & reports
- NCA Annual Report & Accounts 2021-22: 19 Jul 22: fraud, ML etc. pp 22-25.
- Data Access Agreement (DAA) – joint statement by US & UK to bring into force on 3 Oct 22 the Access to Electronic Data for the Purpose of Countering Serious Crime.
- Agreement (DAA): 21 Jul 22. DAA (19 Oct 19), Explanatory Memo and related agreements
- Issues in crypto currency fraud claims: speech by Judge Mark Pelling QC: 20 Jul 22
- Error and Fraud in the COVID-19n schemes: methodology and approach: HMRC: updated 18 Jul 22
- AML Guidance for the Legal Sector 2021 (LSAG) approved by the Treasury: 7 Jul see Reg 86(2)(b)(ii) MLR 17
- Economic Crime Supervision annual assessment report: 1 Apr 21 to 31 Mar 22: HMRC: 30 Jun 22
- Number of live Corporate Criminal Offences investigations (failure to prevent facilitation of tax evasion) as at 13 May 22: HMRC: 30 Jun 22
- AML Guidelines for UK Art Market Participants: BAMF approved by Treasury 30 Jun 22.
News
CPS
- Man jailed in a £104m money laundering scam– transporting illegal cash to Dubai: 28 Jul 22.
- 4 fraudsters jailed for £13.7m investment scam: 26 Jul 22.
- Fraudsters convicted for £21m loss in cryptocurrency: 22 Jul 22.
- Duo jailed for £20m pension fraud: 15 July
- Bernie Ecclestone charged with alleged large scale fraud (failure to declare £400m overseas assets: 11 Jul 22.
FCA
- FCA publishes Decision Notices for Carillion plc (in liquidation) and 3 former executive directors: 28 Jul 22
- Individual sentenced to four months imprisonment for contempt of court re 10 breaches of a restraint order: 22 Jul 22
- The TJM Partnership Ltd (in liquidation) fined £2m for serious financial crime control failings re to cum-ex trading: 15 Jul 22
- FCA failed to protect British Steel pension scheme members causing “serious financial harm”: Public Accounts Committee: 21 Jul 22.
NCA
- Red Alert: Financial Sanctions Evasion typologies: Russian Elites and Enablers: 12 Jul 22 NCA Summary
- Multi-million pound cash courier conspiracy dismantled: 28 Jul 22
SFO
- Convicted fraudster found in contempt of court re 3 breaches of restraint order: 29 Jul 22
- London Capital & Finance chief faces jail for hiding funds from SFO: hearing adjourned to Sept: Times (paywall): 28 Jul 22
- Report to the SFO: The collapse of R v Woods & Marshall on 26 Apr 2021: Brian Altman QC’s: 21 Jul 22 together with Terms of ref. etc and SFO Response
- Independent Review into the Serious Fraud Office’s handling of the Unaoil Case – R v Akle & Anor: Sir David Calvert- Smith: 21 Jul 22
- Annual Report and Accounts 2021-2022: SFO 21 July 22
- Third Unaoil conviction quashed: Reuters: 21 Jul 22
- SFO drops 4-year criminal probe into Chemring: Ev. Standard: 1 Jul 22
- UK judge halts trial of two defendants in Saudi bribery case: T. 14 Jul 22
- SFO loses appeal over ‘unfair’ sacking of Unaoil case controller: Law Soc Gaz: 22 Jul 22.
Home
- Sanctions against KPMG and others re Regenersis & Carillion audits: fined £14.4m: FRC: 25 Jul 22
- Hertfordshire couple jailed over £624k social care fraud: BBC News: 19 Jul 22
- Bottle Laundromat: How Fake Trades & British Shell Companies helped move $820m of hot money out of Russia: Internat: 7 Jul 22.
EU & abroad
- Lastminute.com: CEO & COO arrested (in Switzerland) over covid fund misuse claims: CityAM: 25 Jul 22
- How Uber won access to world leaders, deceived investigators and exploited violence against its drivers in battle for global dominance: Internat: 10 Jul 22
- Thai anti-corruption body names names over Thai Airways Rolls Royce engine scandal: Thaiger 19 Jul 22
- Former Theranos exec Sunny Balwani convicted of 12 counts of fraud: Guardian 7 Jul 22.
Other
- 5 Problems with Economic Crime Policing – and How to Solve Them: Wood: RUSI: 11 Jul 22.