Fraud Newsletter 43 – May 2020

CASES

Refusal of application to set aside Property Freezing Order (245A POCA): complex case – case management issues: NCA v Leahy [2020] EWHC 1242 (QB).

Reasonable expectation of privacy re information (Letter of Request) relating to corruption up to point of charge: ZXC v Bloomberg LP [2020] EWCA Civ 611.

SENTENCING AND CONFISCATION

Probative weight of victim impact statement in fraud: distinguish raw emotion and unintentional statements of harm for which no evidence available: Panta [2020] EWCA Crim 633.

BILLS, STATUTES & STATUTORY INSTRUMENTS

Nothing of moment

CONSULTATIONS, GUIDANCE, CIRCULARS AND REPORTS

Fraud Advisory Panel COVID-19 fraud watch group: FCA updated weekly to highlight emerging fraud threats and trends.

COVID-19-related Money Laundering and Terrorist Financing Risks and Policy Responses: FATF 4 May 20. FATF Summary

Government Statement on cross-border information-sharing with corporate groups: key component of good AML/CTF regimes: HM Treasury/Home Office: 12 May 20.

Guidance on submitting better quality
Suspicious Activity Reports (SARs): NCA May 20

SARs Regime Good Practice: Frequently Asked Questions: NCA May 20

Fraud and error in the benefit system: financial year 2019 to 2020 estimates: Dept Work and Pensions: 29 May 20: Estimated at £4.6bn. Summary and Further statistics

Financial crime systems and controls during coronavirus situation: FCA 6 May 20

HMRC and FCA Collaboration Agreement under s78 Investigatory Powers Act 2016 signed: 1 May 20: FCA

Operation of the UK’s Counter-Terrorist Asset Freezing Regime: 1 Oct – 31 Dec 2019: HM Treasury/ OFSI Quarterly Report 19 May 20.

EU amend list of high-risk countries with deficient AML and counter-terrorist financing systems. Bosnia-Herzegovina, Ethiopia, Guyana, Laos, Sri Lanka and Tunisia removed: Bahamas, Barbados, Botswana, Cambodia, Ghana, Jamaica, Mauritius, Mongolia, Myanmar/Burma, Nicaragua, Panama and Zimbabwe added: EU Delegated Reg C(2020) 2801 final: 7 May 20.: Summary. The EU also published its revised Methodology for identifying high-risk third countries under Directive (EU) 2015/849.

Financial Misconduct, the FCA and the Corona Virus: Cameron Brown and Sam Smart: GBRR 26 May 20

Fighting Corruption Worldwide: Transparency International: May 20

NEWS

Coronavirus (COVID-19): increased risk of fraud and cybercrime against charities: Charity Commission alert: 12 May 20 update. Webinar: What to watch out for and how to stay safe

Our Price Records directors ordered to repay £3.6m to share subscribers for unlawful promotion of OPR shares: FCA News 6 May 20.

US CORE (Coronavirus Oversight and Recovery Ethics) Act: Introduces novel anti-corruption and oversight measures: 13 May 20: Transparency Interntl.

SFO closes investigation into ABB Ltd: 19 May 20

NCA recovers £6.4m from Liberian corporate bank a/c after establishing identities used to set up the account were fake: NCA 19 May 20

Coronavirus: Benefit fraud claims could be £1.5b: 1m claims for Universal Credit in 2 weeks BBC News 21 May 20