Financial

Detectives have made the UK’s largest cryptocurrency seizure worth nearly £180million, superseding the previous record set by the Met just weeks ago.

https://news.met.police.uk/news/detectives-break-record-in-new-cryptocurrency-seizure-worth-nearly-ps180million-431112?mkt_tok=NDEwLUhZTC01NzkAAAF-jZG3nipy8ccT2qwhIsng1KQjXcLtOCBUjMJmhouXMlF0jDp2ol7I8nk962hNuDbeJSaOQOuhS_UVGW9UuTtbDUH5A8Mrf7-FYtIyaS2sTpg-

Cryptocurrencies are an increasingly popular investment option for both professional and retail investors. However, trading in them remains risky as criminal authorities and regulators play catch-up with fraudsters who try to exploit this new infrastructure.

https://www.shlegal.com/insights/cryptocurrency-fraud-recent-decisions-and-remedies?29072021121609

Convictions for investment fraud in England and Wales have slumped to their lowest level since 2007, with just one in 700 incidents convicted in 2019.

https://uk.finance.yahoo.com/news/investment-fraud-convictions-slump-lowest-060000761.html?soc_src=social-sh&soc_trk=tw&tsrc=twtr

The UK’s Financial Conduct Authority (FCA) has published its business plan for 2021-22, setting out its priorities for the coming year as the regulator seeks to keep up with changes in technology and adjust to economic challenges.

https://www.pinsentmasons.com/out-law/news/fca-business-plan-innovative-assertive-adaptive-future

Revised guidance from the Crown Prosecution Service (CPS) suggest that it has toughened its stance against regulated firms in England and Wales that fail to disclose suspicions of money laundering.

https://www.pinsentmasons.com/out-law/analysis/cps-signals-tougher-approach-uk-regulated-sector-enforcement

Binance, the world's biggest cryptocurrency exchange, has been issued a warning by the UK's financial regulator.

https://www.bbc.co.uk/news/business-57632831

Police are warning the community to be vigilant to the devastating impact of investment fraud after a Nottingham man lost £200,000 through a Bitcoin scam.

https://westbridgfordwire.com/warning-after-nottingham-man-loses-200000-in-bitcoin-scam/

Bank transfer scam victims face a “lottery” over whether they will be reimbursed and without more transparency from banks people will continue to be treated unfairly and inconsistently, according to Which? 

https://uk.sports.yahoo.com/news/banks-publish-transfer-scam-reimbursement-230100615.html?soc_src=social-sh&soc_trk=tw&tsrc=twtr

NEW YORK (AP) — Epic Ponzi scheme mastermind Bernard Madoff is dead. But the effort to untangle his web of deceit lives on.

https://uk.sports.yahoo.com/news/even-madoffs-death-unwind-epic-112327591.html?soc_src=social-sh&soc_trk=tw&tsrc=twtr

Two individuals have been sentenced to a total of 19 years in jail for their roles in a £36m boiler room fraud.

https://www.ftadviser.com/investments/2021/06/01/pair-sentenced-over-36m-investment-fraud/