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Fraud Newsletter: 64
February 2022
Fraud Newsletter 64 February 2022
Fraud Newsletter No. 64 February 2022 (18 downloads)
Persons under criminal investigation entitled to reasonable expectation of privacy before charge: Bloomberg v ZXC UKSC 5.
MTIC fraud – Director found to be a knowing party- Dishonesty: useful review of dishonesty, knowledge, blind eye and Ivey: Hall (Liquidator of JD Group) v Bhatia [2022] EWHC 202 (Ch).
Nothing of moment.
Online Safety law to be strengthened to stamp out illegal content: providers to identify & remove illegal content including fraud, financial crime, ML: DDCMS / HO 4 Feb 22.
Money Laundering and Terrorist Financing (Amendment) Regulations 2022: SI 2022 No. 137 in force 9 Mar 22, requiring UK express trusts with taxable consequences also to collect details of beneficial ownership and registers with HMRC. Explanatory Memorandum
Economic Crime (Transparency and Enforcement) Bill 2022: Registration of overseas entities; Unexplained Wealth Orders; Sanctions.
Mutual Legal Assistance- Guidance: Home Office: updated: 24 Feb 22.
COVID-19 cost tracker update: Public Accounts C’tee: 23 Feb 21 re estimated losses between £12.4Bn – £20.14Bn (about 70% from BBLS and Job Retention).
The 2022 Crypto Crime Report: Original data and research into crypto-currency based crime: Chainalysis: Feb 22.
EBA Report on competent authorities’ responses to the 2020 Luanda leaks by ICIJ re finances of daughter of ex Angolan president: 22 Feb 22.
2021 Trends Show Increased Globalized Threat of Ransomware: Joint Advisory from NCSC & others: 9 Feb 22.
Intellectual Property Counter-Infringement Strategy 2022 -27 : IPO: 4 Feb 22
Economic Crime: 11th Report HoC Treasury C’tee: 2 Feb 22. Summary
Victim and Witness Care in the SFO: HMCPSI: 27 Jan 22
Monetary penalties for breaches of financial sanctions: Guidance: OFSI/ HMT: updated 28 Jan 22.
Credit Suisse leak unmasks criminals, fraudsters, corrupt politicians: details of 30,000 accounts totalling £80 Bn: The Guardian 20 Feb 22.
SFO:
SFO investigates Arena TV: 23 Feb 20. Asset Finance International report: 24 Feb. 22
SFO investigation delivers over £200,000 compensation for people of Nigeria re Amec Foster Wheeler: 21 Feb 22.
A-G launches Review into Unaoil failings at SFO: Sir David Calvert-Smith appointed: 9 Feb 22.
Lisa Osofsky Evidence to the Public Accounts Committee: Parliament Live: 9 Feb 22
Glencore sets aside $1.5bn to settle UK, US and Brazil probes F.T. 15 Feb 22
SFO property raids fall to zero: City A.M. 22 Feb 22
HOME:
HMRC seizes NFT for first time in £1.4m fraud case: BBC News: 14 Feb. 22.
Sir David Green QC joins US law firm: Reuters 1 Feb 22
Azerbaijan ‘laundromat’ – court orders family to hand over £5.6m brought into UK: Guardian 1 Feb 22
UK set to cap costs for agencies pursuing unexplained wealth orders: F.T. 18 Feb 22
Dechert and ex-partner face joint trial over hacking and abduction claims: Law Gazette 25 Feb 22
Ethical Forestry: £50m compensation paid out to investors in ‘illegal’ scheme: Bournemouth Echo 27 Feb 22
EU & ABROAD:
Record-high seizure of $5bn in stolen Bitcoin by US DoJ (stolen in 2016 then worth $71m): BBC News: 8 Feb 22.
Credit Suisse faces money laundering charges in Bulgarian cocaine traffickers’ trial: Reuters: 7 Feb 22
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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Tony Shaw