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Fraud Newsletter 35 – September 2019


D [2019] EWCA Crim 209 (failing to disclose information – s3 Fraud Act) is now reported at [2019] 2 Cr.App.R. 15.

Fraudulent transfers into a bank account and s329 POCA. Property must be criminal property before the transfer: Loizou [2005] Crim 1579, [2005] 2 Cr.App.R. 2 and GH [2015] UKSC 24, [2005] 2 Cr.App.R. 37. Accordingly, monies transferred into an account by the true owner who had been induced by fraud to make a payment, had not been “acquired” by the account holder under s329 POCA. Although not “acquired”, once in the account it became criminal property: Haque [2019] EWCA Crim 1028

Fraudulent removal of property in anticipation of winding up (s206(1)(b)  Insolvency Act 1986) must occur within 12 months before start of winding up: Druzyc: [2019] EWCA Crim 1076, [2019] Lloyds Rep F.C. 375 (Westlaw).


Effect of medical mitigation on fraudulent evasion of VAT: Akbar [2019] EWCA Crim 937, [2019] Crim.L.R. 891 (Westlaw).

Ownership of real property abroad: Legal ownership is determined by local law: beneficial ownership by English law: Thayaparan [2019] EWCA Crim 247, [2019] Lloyds Rep 369 (Westlaw).

Money laundering Sentencing Guidelines: a natural reading of the guidelines means is that harm B takes the harm A assessment up a category, so that if one is in 6C one moves up to 5C, not 6B: Evans, Jackson and Johnstone [2019] EWCA Crim 606, [2019] 2 Cr. App. R. (S.) 35


Nothing of moment


Asset Recovery Statistical Bulletin 2013/14 – 2018/19: Home Office: 13 Sep 19 and Amounts Recovered Data.  2013/14: £179m recovered; 2018/19 £217m recovered.

Joint statement on the launch of EU-U.S. negotiations to facilitate access to electronic evidence: European Commission 26 Sep 19.

JMLSG (Joint Money Laundering Steering Group) Guidance updated – section 4 (credit unions), sector 12 (asset finance) and sector 20 (brokerage services to funds) amended. Treasury approval received 25 Sep 19: JMLSG news

How the CMA investigates Cartels: Ashley Wakeman, Principal investigation Officer, CMA: 6 Sep 19.

List of businesses for 2019-2020 that have not complies with 2017 ML Regs. as at 3 Sep 19.  Largest fine £7.83m. All others below £4k.

NCA investigation into suspected EU referendum offences: NCA Public statement: no evidence of criminality re loans made to Leave organisations:  24 Sep 19

Spoofing the Market: a comparison of UKS and UK law and enforcement: Stephens, Dedman and Nettsheim, King & Spalding 4 Jun 19.  


2 British bankers conspire to siphon €60 B in German Cum-Ex fraud: actual losses estimated at estimated losses €31.8 B (Germany); €17B + (France) €4.5 B (Italy);  €1.7 B (Denmark); €201m (Belgium): Guardian 21 Sep 19.

Ex-Goldman Sachs investment banker ordered to pay £7.3m confiscation for Ibori laundering: Independent 6 Sep 19

Google pays €945m in French tax fraud settlement: BBC News 12 Sep 19

Action Fraud accused of failing to record cases of identity theft as fraud: The Times 18 Sep 19.For published figures see Additional tables on fraud and cybercrime Office of National Statistics website. Action Fraud News.

 FCA:  Operation Tabernula (insider dealing) money launderer (£1.5m) who absconded sentenced to 5years 8 months: 3 Sep 19;  the fight against skimmers and scammers: speech by Charles Randell, (Chairman) at Cambridge Symposium on Economic Crime, 4 Sep 19;    first prosecution under FSMA2000 for destroying documents knowing or suspecting they were relevant to an investigation: 6 Sep 19;

S-G speech on UK’s Economic Crime Plan: Cambridge Symposium on Economic Crime: 2 Sep 19

Global Corruption Barometer – Latin America and the Caribbean: Citizens’ Views and Experiences of Corruption: Transparency International Report: 23 Sep 19

SFO:  Speeches at Cambridge Symposium on Economic Crime by Sara Lawson QC (General Counsel) and Lisa Osofsky (Director): 2 and 2 Sep 19; £7.3m confiscation orders for Saunders Electrical fraudsters: 10 Sep 19; Woodhead jailed for over 9 years after 15 years on the run: 18 Sep 19.

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Tony Shaw QC

These monthly Fraud Newsletters are a very succinct summary of fraud cases and matters which have occurred in the preceding four weeks. Their aim is let you check that you have missed nothing of importance. If you need more detail it can be obtained by using the hyperlinks. The newsletters are as opinion free as possible!

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