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National Economic Crime Centre partners’ Action Day targets city money laundering

A day of action by National Economic Crime Centre (NECC) partners will target money service businesses (MSBs) at risk of being used by criminals to launder money. Officers from Her Majesty’s Revenue & Customs (HMRC) and the City of London Police will visit every MSB in...
Posted On 17 Feb 2020
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Fraudsters end 2019 with lighter pockets thanks to NCA’s asset denial teams

In December, the National Crime Agency (NCA) managed to claw back millions of dollars from a fraud involving no less than 700 victims. The agency’s illicit finances investigators also retrieved hundreds of thousands of pounds in two other cases where the money is believed to have...
Posted On 06 Jan 2020
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Nine arrested in second multi-million pound money laundering investigation

Nine suspects have been arrested as part of a National Crime Agency (NCA) investigation into an organised crime group smuggling money out of the UK to Dubai hidden in suitcases. Eight individuals have been arrested at addresses in Cleckheaton, Bradford and Dewsbury, all in West...
Posted On 28 Nov 2019
Nicola Sharp
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The European Union’s Plan to Tackle Money Laundering

It now appears that the European Union (EU) is convinced of the need for a central authority to tackle the scourge of money laundering. Here, Nicola Sharp explains why the EU’s new proposals for investigating this form of criminality cannot come soon enough. EU finance ministers...
Posted On 28 Nov 2019
Syedur Rahman
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Money Laundering in UK plc: The Dirty Secret That Will Not Go Away

A new report produced by anti-corruption watchdog Transparency International lays bare what it believes is massive and carefully planned money laundering in the UK. Here, Syedur Rahman voices concern about the effectiveness of the authorities’ efforts designed to tackle it. ...
Posted On 13 Nov 2019
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ICO calls for views on application for powers under Proceeds of Crime Act

Information Commissioner Elizabeth Denham invites views on her office being granted access to investigation and other associated powers under the Proceeds of Crime Act (POCA) 2002. Personal data has a monetary value and is increasingly being recognised and treated as a commodity...
Posted On 08 Nov 2019
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“Fraud in charities sector hits ten-year high” reports BDO Fraud Track analysis

The cost of fraud to the charities sector hit a ten-year high last year, according to analysis undertaken by accountancy and business advisory firm BDO. Reported fraud within charities soared by £11 m to £20 million in 2018 – an increase of more than 120% and the highest reported...
Posted On 25 Oct 2019
Neil Williams
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Increased Sentences for Money Laundering: The One Figure That Stands Out

The increasing average length of sentences given to convicted money launderers in the UK over the past decade makes a strong enough story in itself, but looking beyond this may help us learn more about how this increasingly high-profile crime is being tackled by the authorities....
Posted On 23 Sep 2019
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Ex-Goldman Sachs investment banker ordered to pay back £7.3 million

Investment banker Ellias Nimoh Preko who laundered millions of dollars for James Ibori – the former Governor of Delta State in Nigeria – has been hit with a £7.3 million confiscation order. The National Crime Agency’s (NCA) financial investigation into 60-year-old...
Posted On 13 Sep 2019
Syedur Rahman
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Free Ports and Brexit: Examining the Money Laundering Risk

New Prime Minister Boris Johnson has talked of the possible value of free ports to a post-Brexit UK, but Syedur Rahman warns that concerns about money laundering and other financial crime must be considered. Boris Johnson’s “do or die’’ approach towards taking Britain out of the...
Posted On 28 Aug 2019