Financial

The Financial Conduct Authority has begun criminal proceedings against four people accused of committing fraud.

The regulator alleges that three men and one woman defrauded investors out of £1.4mn between February 2017 and June 2019, through investment schemes that were not genuine.

A man and woman from Nottingham have been arrested as part of an inquiry into a Ponzi investment scam.

https://www.bbc.co.uk/news/uk-england-nottinghamshire-65090049

Alistair Greig used fraudulently obtained funds to preserve a lavish lifestyle of luxury vehicles and trips to high-profile sporting events.

https://news.stv.tv/north/scots-ponzi-scheme-kingpin-who-conned-victims-out-of-13m-ordered-to-pay-back-just-814

SEVERAL warrants have been carried out to combat fraud and money laundering across the South East – including Aylesbury.

https://uk.news.yahoo.com/seven-arrests-warrants-executed-combat-103948856.html?guccounter=1&guce_referrer=aHR0cHM6Ly90LmNvLw&guce_referrer_sig=AQAAAEeakPy27U1KFa8YGb4vG1NfJXXZl1Z5yvC06QV5UA6_DltFN4rtXcZR0kIGTsrJe2IiGIqnM83PVToZIaYZJEbFNfiCfkBQp_P-COwUOCM1Vddff4ZnCWqLZcUMLFJn7e3sYViddsdu7vKX9VQ917Icgyomv9bcFiq2zgdDIcZk

The study used Google search metrics to determine which banks were facing the most fraud.

https://www.digit.fyi/revealed-bank-customers-facing-the-most-fraud/#.ZAHeFLQkN5Y.twitter

Legal experts have urged UK businesses to pay close attention to upcoming changes to the 2017 Money Laundering Regulations (MLRs) that will impose further compliance requirements on in-scope firms.

https://www.pinsentmasons.com/en-gb/out-law/news/experts-warn-uk-businesses-of-imminent-changes-to-anti-money-laundering-regulations

THE case of a Kilbirnie man who allegedly scammed £7 million from a top US Bitcoin broker has been highlighted as one of Scotland’s biggest recent fraud cases.

https://www.ardrossanherald.com/news/23342774.kilbirnie-bitcoin-scammer-highlighted-new-scotland-fraud-report/

The finance industry regulator has warned financial technology firms they need a “significant shift in culture and behaviour” to avoid a clampdown under tough new rules.

https://www.msn.com/en-gb/money/other/fraud-fears-spark-fca-warning-to-finance-firms-look-after-your-customers-or-face-action-under-new-rules/ar-AA17LYtk

Trio guilty of multi-million dollar fraud linked to Libya

https://www.professionaladviser.com/news/4076386/fund-managers-guilty-gbp7m-sovereign-wealth-fraud

Two fund managers have been jailed for a total of 11 years after committing a large-scale fraud amounting to more than 10 million US dollars which resulted in the loss of money meant for the people of Libya.

https://uk.sports.yahoo.com/news/finance-managers-jailed-defrauding-libyan-162900146.html/