Fraud Newsletter No. 75 January 2023

Conspiracy to defraud and money laundering are consumer offences under Consumer Rights Act 2015 para 46(2) of Sched.5 (empowering a local authority to prosecute irrespective of a connection to its area): AUH [2023] EWCA Crim 6. The relevant facts appear at [2022] EWCA 1113.

Specific proof required that property was the proceeds of crime: inference could not necessarily be inferred form evidence of use of forced labour: World Uyghur Congress [2023] EWHC 88 (Admin)

Economic Crime and Corporate Transparency Bill: Commons – report stage and 3rd reading: 27 Jan 23. Full passage.

How can auditors define material fraud?: ICAEW Insights: 27 Jan 23

How to develop better governance around fraud prevention: ICAEW Insights: 27 Jan 23

Draft Code of Practice: Forensic Science Regulator: 26 Jan 23.

Number of live Corporate Criminal Offences investigations: HMRC: Updated 26 Jan 23. 9 live investigations: 26 opportunities under review.

Suspicious Activity Report (SAR) Annual Report 2022: NCA 24 Jan 23. 901,255 SARs processed (21% increase): £305m denied to suspected criminals as a
result of DAML requests (120% increase.)

Industry Protocol for the Pawnbroking Sector: re managing ML risks: UK Finance/NPA: 25 Jan 23.

Police requests for Third Party Material: Consultation Response: HO: 20 Jan 23.

The role of the internal auditor in addressing fraud risk: ICAEW: 11 Jan 23

Guidance: Register an overseas entity and tell us about its beneficial owners: Co. Ho. updated 9 Jan 23: more guidance on disposing of UK property.

Fraud and the Justice System: Government Response to the Committee’s 4th Report of Session 2022-23: HoC Justice C’tee: 10 Jan 23.

The Courage of its (Non) Convictions: The FATF Review of Asset Recovery: RUSI: 19 Jan 23

CPS:

Fraudsters sentenced for £21m loss in cryptocurrency: 13 Jan 23.

Former Premier League star jailed for £15 million investment fraud – 7½ years: 12 Jan 23.

HMRC:
Bernie Ecclestone in court ahead of trial for alleged fraud: trial date Nov. 16: Messenger: 20 Jan 23.

HMRC heightens focus on professional enablers of tax fraud, says top official: FT: 12 Jan 23

FCA:

Five face conspiracy to insider deal and money laundering charges: 25 Jan 23

Al Rayan Bank PLC fined £4m+ for AML failures: 11 Jan 23.

Guaranty Trust Bank (UK) fined £7.6m for further failures in its AML systems and controls: 10 Jan 23

Sourcebook for professional body AML supervisors: OPBAS: updated 10 Jan 23

NCA:

HIVE takedown: international operation to shut down $100m ransomware threat: 26 Jan 23.

SFO:

SFO Court Calendar: SoC (Spotlight on Corruption)

From Serious Farce to Serious Force – 4 priorities for beefing up the SFO in 2023: SoC: 10 Jan 23.

Three arrested in investigation into business in energy sector: 11 Jan 23

SFO targets assets of alleged Sarclad middleman (civil recovery order sought against co-conspirator in DPA): GIR [paywall]: 20 Jan 23

Three executives acquitted in SFO office refurbishment bribery case: Law 360 [paywall]: 25 Jan 23

Saman Ahsani of Unaoil sentenced to a year in US prison: F.T. 30 Jan 23

Son of Longtime Azerbaijani Oil Official Owns Luxurious London Flat Worth Over $20 M: OCCRP 31 Jan 23: (beneficial ownership disclosed under Economic Crime (Transparency and Enforcement) Act 2022.)

Cutting edge data and AI tech to help government hunt down fraudsters: Cabinet Off.; Public Sector Fraud Authority: 30 Jan 23

Man jailed for stealing more than £2m in IOATA cryptocurrency – 4½ years: BBC News 28 Jan 23. Oxford post-grad -plea on 2nd day: Oxford News: 28 Jan 23.

Ad Fraud Scheme tops 12B daily bid requests impacting 11m Apple devices: Infosecurity: 23 Jan 23

Preacher convicted of bogus Covid cure fraud claims he can’t afford fine: Times & Star: 13 Jan 23.

Fraud probe into Unite union employee: BBC News: 13 Jan 23

Former Sheffield MP Jared O’Mara denies 8th fraud charge: BBC: 12 Jan 23

Unqualified doctor who faked degree took £1.3m form NHS, trial told: BBC: 10 Jan 23

2 Florida doctors convicted of $31m Medicare Fraud: DoJ: 20 Jan 23

Top 10 Asia-Pacific FCPA Enforcement Actions of 2022: Steptoe: 18 Jan 23

US Global Anti-Corruption Insights: Winter 2023: Arnold & Porter: 19 Jan 23.

FTX: “one of the biggest financial frauds in US history.” Sam Bankman-Fried pleads not guilty: Guardian: 3 Jan 23

US judge fines Donald Trump [and his lawyer] nearly $1m for Clinton lawsuit where Trump sought $70m alleging a conspiracy to “weave a false narrative” that his election campaign was colluding with Russia: BBC 20 Jan 23.

Trump Organization hit with maximum fine [$1.6m] over years-long tax fraud : Guardian: 13 Jan 23.