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A suspected network of specialist money launderers, which helped criminals hide millions of pounds, has been targeted in an international operation coordinated by the National Crime Agency.
The systems used to monitor transactions and identify money laundering activity are not up to the job at more than a third of banks and financial institutions, according to a new survey by KPMG.
A company boss used investors’ cash on luxury hotels, restaurants and holidays.
The value of money laundering cases surged last year, according to a study by the auditor BDO. Reported money laundering in the UK rose to £288m in 2013, more than four times the £70m recorded in 2012.
Researchers have unveiled a new, safer system using colours and symbols as well as numbers saying it could cut ATM fraud dramatically.
Vulnerable older people are being targeted by a new form of investment scam involving diamonds, fraud investigators have warned.
Tony Colston-Hayter, an entrepreneur and former professional gambler has pleaded guilty at Southwark Crown Court to a huge conspiracy to defraud Barclays Bank of £1.3m.
Speech by Martin Wheatley, Chief Executive of the FCA, at the ICI Global Trading and Market Structure Conference.
The FCA has fined JLT Specialty Limited (JLTSL) over £1.8million for failing to have in place appropriate checks and controls to guard against the risk of bribery or corruption when making payments to overseas third parties.
The Financial Conduct Authority (FCA) has confirmed it will be undertaking enforcement investigations into events at the Co-operative Bank.
Midlands Fraud Forum Ltd. Reg.No: 06436330 Copyright © March 2014