Financial Crime Weekly Podcast (Christopher Kirkbride)

Hello, and welcome to episode 63 of the Financial Crime Weekly Podcast, I’m your host, Chris Kirkbride. The big news stories this week have focused on fraud and bribery and anti-corruption, but there are other bits across the area, as well as the usual round-up of cyber-attack news. Let’s crack on.

As usual, I have linked the main stories flagged in the podcast in the description. These are:

European Union Intellectual Property Office, IP Perception 2023.

National Cyber Security Centre, NCSC and international partners shine a light on Lockbit ransomware threat.

Politico, 11 key Qatargate players — where are they now?

Transparency International, Transparency International's 30th Anniversary: A Milestone In The Global Fight Against Corruption.

UK Financial Intelligence Unit, SARs Reporter Booklet (June 2023).

UK Gambling Commission, Videoslots Limited to pay £2m for regulatory failures.

UK Gambling Commission, Videoslots Limited Public Statement.

UK Government, More action to fight fraud, bribery and other economic crime.

UK Government, HMRC gives offshore customers chance to come clean.

UK Government, Crackdown on criminals silencing critics to be added to Economic Crime Bill.

UK Office of Financial Sanctions Implementation, OFSI General Licences (updated).

UK Office of Financial Sanctions Implementation, Russian Oil Services ban (updated).

UK Parliament, Economic Crime and Corporate Transparency Bill.

US Department of Justice, New York City Transit Worker and New York State Court Officer Plead Guilty to Covid-19 Loan Fraud.

US Department of Justice, Fraud Alert: Scammers Claiming to be with Office for Victims of Crime.

White & Case, Engagement with third parties seen as the greatest anti-corruption risk.

White & Case, 2023 Global compliance risk benchmarking survey.

Hello, and welcome to episode 59 of the Financial Crime Weekly Podcast, I’m your host, Chris Kirkbride. It’s been another quiet week this week, which is good when I’m still busy elsewhere. A few bits on sanctions, fraud, and money laundering, plus a round-up of the interesting cyber-attack news making the headlines this week. Let’s crack on.

As usual, I have linked the main stories flagged in the podcast in the description. These are:

Council of the European Union, Anti-money laundering: Council adopts rules which will make crypto-asset transfers traceable.

Financial Crimes Enforcement Network (FinCen), Financial Trend Analysis: Ransomware Trends in Bank Secrecy Act Data between July 2021 and December 2021.

General Secretariat of the Council of the EU, AMLR – Proposal for a Regulation of the European Parliament and of the Council on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing.

General Secretariat of the Council of the EU, AMLD - Proposal for a Directive of the European Parliament and of the Council on the mechanisms to be put in place by the Member States for the prevention of the use of the financial system for the purposes of money laundering or terrorist financing and repealing Directive (EU) 2015/849.

General Secretariat of the Council of the EU, AMLA - Proposal for a Regulation of the European Parliament and of the Council establishing the Authority for Anti-Money Laundering and Countering the Financing of Terrorism and amending Regulations (EU) No 1093/2010, (EU) 1094/2010, (EU) 1095/2010.

UK Financial Conduct Authority, How to change in response to changing threats.

UK government, Financial Sanctions Notice: Global Anti-Corruption.

UK government, Financial Sanctions Notice: Russia.

UK government, Financial Sanctions Notice: Syria.

UK government, Financial sanctions, Russia.

UK government, Financial sanctions, Syria.

UK government, Russia sanctions: guidance; Russia sanctions: guidance (Updated 17 May 2023).

UK government, UK sanctions target Russia’s theft of Ukrainian grain, advanced military technology, and remaining revenue sources (press release).

UK National Cyber Security Centre, Google & NCSC Webinar For Small Organisations.

UK parliament, Regulating Crypto – Report Summary.

UK parliament, Regulating Crypto: Fifteenth Report of Session 2022–23.

US Department of Justice, Former U.S. Army Employee Arrested In Bribery And Kickbacks Scheme Involving Defense Contracts.

US Department of the Treasury, Office of Foreign Assets Control, Treasury Sanctions Russian Ransomware Actor Complicit in Attacks on Police and U.S. Critical Infrastructure.

Which?, Tech firms failing to act against ID theft fraudsters using social media to scam victims, Which? warns.

Hello, and welcome to episode 89 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. It’s yet another busy week of financial crime news, so I’m just going to get on with it.

As usual, I have linked the main stories flagged in the podcast in the description. These are:

AUSTRAC, Top tips for completing your 2023 compliance report.

Commodity Futures Trading Commission, Federal Court Enters Order Against Binance and Former CEO, Zhao, Concluding CFTC Enforcement Action.

Council of Europe, New ISBN Publication - Means To Counter Education Fraud - Etined Volume 7.

Council of Europe, Means To Counter Education Fraud: Legislation, practices and instruments: Volume 7.

Council of the European Union, Anti-money laundering: Council and Parliament agree on procedure to select seat for new authority.

Department of Justice, Former Special Agent In Charge Of The New York FBI Counterintelligence Division Sentenced To 50 Months In Prison For Conspiring To Violate U.S. Sanctions On Russia.

Department of Justice, Metro-Atlanta man pleads guilty to money laundering of COVID-19 unemployment funds.

Department of Justice, Dallas County individuals indicted in investment fraud and money laundering scheme.

Department of Justice, United Kingdom Citizen Extradited to Face Charges in $99 Million Wine Fraud.

Department of Justice, Seven Individuals Indicted on Fraud and Money Laundering Charges Relating to International Lottery Scam Targeting Elderly.

Department of Justice, Justice Department Announces Crackdown on Networks That Steal Money from Consumer Accounts and Use Fraudulent “Microtransactions” to Hide the Activity from Banks.

Department of Justice, Manvel resident charged for creating fake businesses to obtain COVID-19 funds.

Department of Justice, Man Charged for $2M COVID-19 Relief Fraud Scheme.

Department of the Treasury, Remarks by Under Secretary for Terrorism and Financial Intelligence Brian Nelson at Bank Roundtable in Mumbai, India.

European Commission, EU adopts 12th package of sanctions against Russia for its continued illegal war against Ukraine.

European Council, Russia's war of aggression against Ukraine: EU adopts 12th package of economic and individual sanctions.

Europol, IOCTA – Online Fraud Schemes: A Web of Deceit.

Financial Crimes Enforcement Network, Beneficial Ownership Information Access and Safeguards.

Insolvency Service, Couple sentenced for abusing Covid loan then dissolving their company.

Insolvency Service, Annual Report and Accounts 2022-2023.

Interpol, USD 300 million seized and 3,500 suspects arrested in international financial crime operation.

Office of Financial Sanctions Implementation, Financial Sanctions Notice (Iran).

Office of Financial Sanctions Implementation, Financial Sanctions Notice (Russia).

Office of Financial Sanctions Implementation, Guidance: Who is subject to financial sanctions in the UK?

Office of Financial Sanctions Implementation, General Licences.

Office of Financial Sanctions Implementation, OFSI Publishes Details of Frozen Asset Reporting for Financial Year 2022-23.

Office of Financial Sanctions Implementation, Guidance: Russian Oil Services ban.

Office of Financial Sanctions Implementation, Financial Sanctions Notice (Russia).

Office of Financial Sanctions Implementation, Updates to Correspondent Banking Restrictions (blog post).

Office of Financial Sanctions Implementation, UK Financial Sanctions: General guidance for financial sanctions under the Sanctions and Anti-Money Laundering Act 2018.

Office of Financial Sanctions Implementation, Russia Guidance: Guidance for the financial and investment restrictions in Russia (Sanctions) (EU Exit) Regulations 2019.

Office of Financial Sanctions Implementation, OFSI enforcement and monetary penalties for breaches of financial sanctions: Guidance.

Office of Financial Sanctions Implementation, General Licence – Continuation of Business of Evraz plc’s North American Subsidiaries (INT/2022/1710676).

Office of Foreign Assets Control, Treasury Sanctions Human Smuggling and Drug Trafficking Organization Operating on Southwest Border.

Office of Foreign Assets Control, Treasury Tightens the Price Cap with New Sanctions and Updated Guidance.

Payment Systems Regulator, PSR continues to take bold action on APP fraud as it publishes final reimbursement details ahead of 2024 implementation.

Securities and Exchange Commission, SEC Charges Former CEO of Medical Device Startup Stimwave with $41 Million Fraud.

UK Judgments, Ames v Rex (Serious Fraud Office) [2023] EWCA Crim 1463.

UK Judgments, Eurasian Natural Resources Corporation Limited v Dechert LLP, David Neil Gerrard, and The Director of the Serious Fraud Office [2023] EWHC 3280.

UK legislation, Russia (Sanctions) (EU Exit) (Amendment) (No 5) Regulations 2023 (SI 2023/1367).

UK legislation, The Russia (Sanctions) (EU Exit) (Amendment) (No. 4) Regulations 2023 (SI 2023/1364).

United Nations, ‘Illegal betting is the number one factor fuelling corruption in sports’, UN conference hears.

Wilmer Hale, Congress Enacts the Foreign Extortion Prevention Act Targeting Foreign Officials’ Conduct.

Hello, and welcome to this week in financial crime. I’m your host, Chris Kirkbride. Another busy week this week. Sanctions, money laundering, fraud, corruption. The usual life-affirming stuff. I’ll just crack on with it.

These are the links to the principal documents mentioned in the podcast:

Business, Energy and Industrial Strategy Committee, Formal meeting (oral evidence session): Fraudulent company registrations: Economic Crime and Corporate Transparency Bill.

Companies House, List of UK-regulated agents who can complete verification checks on beneficial owners of an overseas entity.

Insolvency Service, 10-year ban for Plymouth print boss on top of 5-year bankruptcy restrictions.

Insolvency Service, Bankrupt caterer abused Covid-19 loan scheme.

Insolvency Service, Restaurateurs disqualified after abusing Bounce Back Loans.

Joint Money Laundering Steering Group (‘JMLSG’), Proposed amendments to Part II of its Guidance.

Law Commission of England & Wales, Confiscation under Part 2 of the Proceeds of Crime Act 2002.

Miller & Chevalier, Foreign Corrupt Practices Act Autumn Review 2022.

Office of Financial Sanctions Implementation, Annual Review 2021-2022.

Office of Financial Sanctions Implementation, General Licence INT/2022/2339452.

Organisation for Economic Co-operation and Development, Portugal needs to urgently step up its foreign bribery enforcement, says the OECD Working Group on Bribery.

Transparency International, Transparency International calls for accountability in Madagascar’s lychee market.

UK government, Factsheet: Economic Crime and Corporate Transparency Bill overarching.

UK government, Guidance: The UK Sanctions List.

US Attorney’s Office, Central District of California, Nigerian Man Sentenced to Over 11 Years in Federal Prison for Conspiring to Launder Tens of Millions of Dollars from Online Scams.

US Department of Justice, Indian National Charged in $8 Million COVID-19 Relief Fraud Scheme.

US Department of Justice, Cary Man Pleads Guilty in Multi-Million COVID-19 Fraud Scheme.

Hello, and welcome to episode 82 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. It has been a bumper week for financial crime news again this week, with all areas competing to outperform one another in terms of producing the most volume of material. I think we should just crack on. Sooner we get started, the sooner we can all got on with our lives.

As usual, I have linked the main stories flagged in the podcast in the description. These are:

Counter Ransomware Initiative, CRI joint statement on ransomware payments.

Financial Action Task Force, Public Consultation - FATF Risk-Based Guidance on Recommendation 25.

Financial Conduct Authority, Financial regulator secures confiscation order against convicted CFO.

Financial Action Task Force, Crowdfunding for Terrorism Financing: Report.

HM Treasury, Future financial services regulatory regime for cryptoassets: Response to the consultation and call for evidence.

National Cyber Security Centre, Glossary: A set of straightforward definitions for common cyber security terms used on the NCSC website.

Office of Financial Sanctions Implementation, Financial Sanctions Notice: Myanmar.

Office of Foreign Assets Control, Treasury Hardens Sanctions With 130 New Russian Evasion and Military-Industrial Targets.

Payment Systems Regulator, PSR publishes first APP scams performance report.

UK Government, UK and international partners target Myanmar arms dealers and military financiers with new sanctions.

UK Government, Speech: Security Minister speech on fraud and AI.

US Department of Justice, Former Attorney Convicted of Bribery Scheme.

US Department of Justice, Bank Insider Charged with Accepting Bribes to Facilitate Millions of Dollars of Money Laundering.

US Department of State, Designation of Three Guatemalan Public Officials for Involvement in Significant Corruption.

US Department of the Treasury, READOUT: Deputy Secretary of the Treasury Wally Adeyemo’s Visit to the United Kingdom.

US Mission to International Organisations in Vienna, 20th Anniversary of UN Convention Against Corruption.

World Economic Forum, Biggest-ever DDoS attack threatens companies worldwide, and other cybersecurity news to know this month.

Hello, and welcome to episode 125 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. On sanctions this week, a mass of action from the UK and US. In the UK, action against the shadow fleet carrying Russian oil as part of sanctions evasion, while in the US, sanctions against allies of Venezualan president Maduro have been announced by OFAC. On bribery and corruption, GRECO reports on Kazakhstan, while in the UK Transparency International has revealed the high levels of corruption in Covid-19 PPE contracts. On money laundering in the UK, the first FCA prosecution against the owner of unlawfully operated crypto ATMs, and in Australia, the government has announced reforms to its anti-money laundering regime. There’s more Covid-19 fraud from the US and UK, the FBI has published its Cryptocurrency Fraud Report, and Spotlight on Corruption questions whether the National Crime Agency is on its knees. There is also, as usual, a round-up of this week’s cyber-attack news.

A transcript of this podcast is available at www.crimes.financial, with links to the stories.

Hello, and welcome to this special edition of the financial crime weekly podcast where we look at the Research Paper on the Economic Crime and Corporate Transparency Bill 2022-23. The Bill is part of the process which started with the Economic Crime (Transparency and Enforcement) Act 2022 which was the Bill hastily passed through Parliament in response to the Russian invasion of Ukraine. Well, this new Bill seeks to build on the start made by the 2022 Act by emboldening the framework in which financial crime is countered and fought.

Hello, and welcome to episode 118 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. On sanctions this week, designations from the US, and extension of existing sanctions from the EU. On bribery and corruption, the anti-corruption body in Zambia is cleared out, and another pressure group gives its two penn’orth on the new Labour government’s approach to corruption. The money laundering news comes from the IMF, the US Office of the Comptroller of the Currency, and MONEYVAL has published a report on Jersey. There is also a round-up of the cyber-attack news this week.

As usual, I have linked the main stories flagged in the podcast in the description. These are:

Council of the European Union, Russia’s war of aggression against Ukraine: Council renews economic sanctions for a further 6 months.

Europol, Internet Organised Crime Threat Assessment (IOCTA) 2024.

Europol, Internet Organised Crime Threat Assessment (IOCTA) 2024 (Report).

International Monetary Fund, Panama: Financial Sector Assessment Program - Technical Note on Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT).

MONEYVAL, MONEYVAL acknowledges Jersey’s progress in improving measures to combat money laundering and financing of terrorism.

MONEYVAL, Anti-money laundering and counter-terrorist financing measures Jersey: Fifth Round Mutual Evaluation Report.

National Crime Agency, NCA infiltrates world's most prolific DDoS-for-hire service.

National Cyber Security Centre, "If you have knowledge, let others light their candles in it." (Blog post).

National Cyber Security Centre, New legislation will help counter the cyber threat to our essential services (Blog post).

New Zealand Serious Fraud Office, Phone scam.

Office of Financial Sanctions Implementation, GENERAL LICENCE - Russian Banks – UK subsidiaries – Guernsey subsidiary – EU subsidiaries - Basic needs, routine holding and maintenance, the payment of legal fees and insolvency related payments: INT/2022/1280876.

Office of Financial Sanctions Implementation, General licence - INT/2022/1280876.

Office of Foreign Assets Control, Treasury Targets PRC-based Procurement Network Supporting DPRK Ballistic Missile and Space Programs.

Office of Foreign Assets Control, Treasury Implements REPO for Ukrainians Act Reporting Requirement.

Office of Foreign Assets Control, Treasury Sanctions Rebel Alliance Driving Instability in the Democratic Republic of the Congo.

Solicitors Regulation Authority, Annual report by the Money Laundering Reporting Officer (MLRO) for the year ended 5 April 2024 (Annex).

Spotlight on Corruption, Thin gruel for anti-corruption campaigners – the new government’s King’s Speech.

UKFIU, SARs in Action: Issue 26.

US Department of Justice, Leader of $200 Million Ponzi Scheme Pleads Guilty to Mail and Wire Fraud Conspiracy and Faces 20 Years’ Imprisonment.

Hello, and welcome to this week in financial crime. I’m your host, Chris Kirkbride. It has been a dramatically busy week this week, and there’s me thinking that things might be calming down as we approach the holiday season. This week, the UK financial conduct regulator has been busy issuing fines, a bit of bribery and corruption news has come out, and some useful resources updated and published for anyone working in compliance globally. Let’s crack on with it.

These are the links to the principal documents mentioned in the podcast:

Dentons, Anti-Bribery and Anti-Corruption Laws: Prohibited conduct, penalties and prosecution.

European Council, Russia’s war of aggression against Ukraine: EU adopts 9th package of economic and individual sanctions.

European Parliament, Passes resolution in light of Qatar bribery and corruption issue.

European Payments Council, 2022 Payment Threats and Fraud Trends Report.

European Union, Fraud prevention portal.

UK Crown Prosecution Service, Three city workers found guilty in a £17.8m hedge and wealth fund fraud.

UK Financial Conduct Authority, FCA fines Santander UK £107.7 million for repeated anti-money laundering failures.

UK Financial Conduct Authority, The Final Notice for Santander UK plc.

UK Financial Conduct Authority, FCA fines Metro Bank PLC £10 million and publishes Decision Notices for two of its former executive directors.

UK Financial Conduct Authority, Final Notice for Metro Bank PLC.

UK Financial Conduct Authority, Decision Notice for Craig Donaldson.

UK Financial Conduct Authority, Decision Notice for David Arden.

UK Financial Conduct Authority, Festive shoppers at rising risk of loan fee scams as fraudsters pile on the pressure at Christmas.

UK Financial Conduct Authority, Loan Fee Fraud Information.

UK Financial Conduct Authority, Multi-factor authentication for FCA systems.

UK government, New UK sanctions target senior Russian commanders following strikes on Ukrainian civilian infrastructure.

US Securities and Exchange Commission, SEC Charges Samuel Bankman-Fried with Defrauding Investors in Crypto Asset Trading Platform FTX.

US Securities and Exchange Commission, SEC Charges Eight Social Media Influencers in $100 Million Stock Manipulation Scheme Promoted on Discord and Twitter.

Hello, and welcome to this week in financial crime. I’m your host, Chris Kirkbride. Another busy week this week. It’s mainly fraud and money laundering which dominates the stories this week, but there are some other bits and pieces just to keep it from getting boring.

These are the links to the principal documents mentioned in the podcast:

Chartered Trading Standards Institute (CTSI), CTSI urges shoppers to be careful what they bargain for this Black Friday.

Counter-fraud initiative, Take Five to Stop Fraud.

European Banking Authority, EBA publishes guidelines on remote customer onboarding.

Interpol, Cyber-enabled financial crime: USD 130 million intercepted in global INTERPOL police operation.

JD Supra, Supreme Court To Consider the Boundaries of Bribery.

Metropolitan Police, More than 100 arrests in UK's biggest ever fraud operation.

UK Government, UK ban on Russian oil an oil products.

UK Government, Security Minister welcomes new support for fraud victims.

UK Insolvency Service, Retailers disqualified after abusing covid loans.

UK Insolvency Service, Hebburn engineering boss banned for Bounce Back Loan abuse.

UK Insolvency Service, Southampton nursing agency boss given 11-year ban for abuse of Bounce Back Loan scheme.

UK Insolvency Service, Essex property developer banned for falsely claiming Bounce Back Loan.

US Department of Justice, Four Defendants Indicted for Securities Fraud, Conducting International Pump-and-Dump Scheme, and Money Laundering.

Hello, and welcome to episode 71 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. It’s been a quiet week this week, but there is enough to keep us interested.

As usual, I have linked the main stories flagged in the podcast in the description. These are:

Department for Business and Trade, Guidance for the Registration of Overseas Entities on the UK Register of Overseas Entities Technical guidance for registration and verification (August 2023).

Department for Business and Trade and Export Control Joint Unit, General Trade Licence Russia Sanctions – Legal Advisory Services.

Department for Science, Innovation, and Technology, Cyber security skills in the UK labour market 2023.

Electoral Commission, Public notification of cyber-attack on Electoral Commission systems.

Entain Group plc, Update on HMRC Investigation.

European Banking Authority, Report on the Functioning of Anti-Money Laundering and Countering the Financing of Terrorism Colleges in 2022 (EBA/REP/2023/31).

Financial Conduct Authority, FCA and COLC Authorised Push Payment (APP) Synthetic Data Launch.

Foreign, Commonwealth and Development Office, Largest ever UK action targets Putin's access to foreign military supplies (press release).

Foreign, Commonwealth and Development Office, Guidance: The UK Sanctions List (updated: 10/08/2023).

Office of Financial Sanctions Implementation, Financial Sanctions Notice: Russia (08/08/2023).

Office of Financial Sanctions Implementation, Financial Sanctions Notice: Belarus (08/08/2023).

Office of Financial Sanctions Implementation, Guidance: Who is subject to financial sanctions in the UK? (updated: 10/08/2023).

Office of Financial Sanctions Implementation, Financial Sanctions Notice: Global Anti-Corruption.

Office of Financial Sanctions Implementation, Financial Sanctions: Global Anti-Corruption Consolidated Lists.

The Washington Post, Opinion: Why a federal judge is pushing for an international anti-corruption court.

UK Finance, Developing Guidelines for the Funds Transfer Regulations.

UK Finance, Funds Transfer Regulation – ‘How To’ Interpretative Guidance.

US Department of Justice, Former Miami-Dade Corrections Sergeant Pleads Guilty to COVID-19 Relief Fraud.

US Department of the Treasury, Joining Partners, U.S. Treasury Sanctions Former Central Bank Governor of Lebanon and Co-conspirators in International Corruption Scheme.

US Department of the Treasury, U.S. Expands Sanctions on the Belarusian Regime, Marking the Three-Year Anniversary of the Fraudulent August 2020 Presidential Election.

US Department of the Treasury, Remarks by Under Secretary Brian Nelson on Illicit Finance in Lexington, Kentucky.

US Department of the Treasury, Treasury Imposes Sanctions on Russian Elites and a Russian Business Association (press release).

US Securities and Exchange Commission, Colombian Conglomerate Grupo Aval and Its Bank Subsidiary to Pay $40 Million to Settle FCPA Violations (press release).

Hello, and welcome to episode 51 of the Financial Crime Weekly Podcast, I’m your host, Chris Kirkbride. It’s been a very busy week for financial crime news this week. There’s a decent wedge of news on sanctions, fraud, bribery, and money laundering. We’ll also round-up the week’s cyber-attacks. Let’s make a start.

These are the links to the principal documents mentioned in the podcast:

BBC News, Fraud victim gets surprise £153,000 refund despite rules.

Council of the European Union, Human rights violations in Iran: EU sanctions additional eight individuals and one entity.

Gambling Commission, Gambling Commission fines 32Red and Platinum Gaming £7.1m.

Gambling Commission, 32Red Ltd Decision Notice.

Gambling Commission, Platinum Gaming Ltd Decision Notice.

Government of Canada, Canada bans Russian aluminium and steel imports.

Government of Canada, Regulations Amending the Special Economic Measures (Russia) Regulations.

HM Treasury, Joint HM Treasury and FCA statement on the Criminal Market Abuse Regimev.

International Monetary Fund, Opening Remarks for the Press Briefing on the IMF Executive Board Approval of the Extended Fund Facility (EFF) Arrangement for Sri Lanka.

International Monetary Fund, Sri Lanka: Request for an Extended Arrangement Under the Extended Fund Facility-Press Release; Staff Report; and Statement by the Executive Director for Sri Lanka.

International Monetary Fund, IMF Executive Board Approves US$3 Billion Under the New Extended Fund Facility (EFF) Arrangement for Sri Lanka.

Joint Money Laundering Steering Group (JMLSG), Sector 8 (Non-life providers of investment fund products).

Joint Money Laundering Steering Group (JMLSG), Sector 9 (Discretionary and advisory investment management).

Office of Financial Sanctions Implementation, General Licence – INT/2023/2589788.

Office of Financial Sanctions Implementation, Russia Sanctions: Guidance.

Payment Systems Regulator, PSR will publish data on how well customers are protected from scams.

Serious Fraud Office, SFO secures over $7 million from convicted Brazilian money launderer.

Serious Fraud Office, SFO recovers criminal assets from £740m property fraud concealed through school donation.

UK government, UK sanctions top Islamic Revolutionary Guard Corps financiers.

US Attorney’s Office, Money Launderer Sentenced for $8 Million Romance Scam Fraud Scheme.

US Department of Justice, Former Florida State Representative Pleads Guilty To Wire Fraud, Money Laundering, And Making False Statements In Connection With Covid-19 Relief Fraud.

US Embassy in Bulgaria, Remarks by Richard Nephew, U.S. State Department Coordinator on Global Anti-Corruption.

Welcome to the Financial Crime UK Monthly podcast. I’m Chris Kirkbride and I lecture law at the University of Worcester.

This is an introductory podcast to give you a guide as to the sort of things which we will be looking at on this podcast in the first week of every month. However, there will be specials and additional podcasts out of this sequence if something happens which is significant and deserves a special episode.

So, what are the sort of things we’ll be talking about? Well, we will cover news, events, legal developments, and anything else that relates to financial crime, in the UK – obviously, because that is in the podcast title – but also in other jurisdictions. No man is an island and financial crime certainly does not respect national borders.

Broadly, the coverage will be all aspects of:

Fraud | Bribery | Market abuse and insider dealing | Money laundering and terrorist financing | Data and information theft | Cybercrime (phishing / smishing) and the challenges generated by fintech in terms of finance crime threats.

While these might be financial crimes, strictly speaking, but that is not all. It is necessary to reflect on the responses to financial crime which the state adopts. While this is less about fines and imprisonment, we will focus on confiscation and recovery schemes, sanctions imposed on those who have committed financial crimes, together with arrangements designed to allow the offender to avoid/defer prosecution, namely, deferred prosecution agreements.

Consideration will also be given to the regulatory architecture of financial crime, both domestic and international – as stated, financial crime does not respect borders – together with regulatory enforcement and aspects of the compliance industry – the industry which helps commercial entities stay on the right side of the law.

Finally, and this is a particular interest of mine, but I am fascinated by the interface between criminal and civil law where the facts of an event could lead to prosecution or civil action. Consequently, while this is a financial crime podcast, we will also consider those situations where the civil law might bring about a robust response to financial wrongdoing.

So, that’s it from me for now except to say that the podcast is available from the usual places, Google Podcasts, Spotify, iTunes, and others.

Hello, and welcome to this week in financial crime. I’m your host, Chris Kirkbride. It’s been a relatively quiet week this week, with a little on sanctions and fraud, as well as a curious money laundering story. We’ll also round-up this week’s cyber-attack news, so let’s make a start.

These are the links to the principal documents mentioned in the podcast:

Alexander Dyck, Adair Morse & Luigi Zingales, How pervasive is corporate fraud?

AUSTRAC, AUSTRAC cements partnership with United Kingdom to intensify fight against financial crime.

Capital Markets Institute, How Pervasive is Corporate Fraud? It’s More Common Than You Might Think.

Council of the European Union, Myanmar/Burma: EU imposes sixth round of sanctions against 9 individuals and 7 entities.

Crown Prosecution Service, Three city workers sentenced in a $8.45m hedge and wealth fund fraud.

Financial Action Task Force, Outcomes FATF Plenary, 22-24 February 2023.

Financial Action Task Force, Statement on the Russian Federation.

Financial Conduct Authority, Armchair detective investors take inspiration from Sherlock Holmes to foil investment scams.

National Crime Agency, City fund managers sentenced to 12 years for $8m fraud.

National Cyber Security Centre, Threat Report 24th February 2023.

The White House, FACT SHEET: On One Year Anniversary of Russia’s Invasion of Ukraine, Biden Administration Announces Actions to Support Ukraine and Hold Russia Accountable.

UK Office of Financial Sanctions Implementation, Consolidated List of Financial Sanctions Targets in the UK: Russia.

UK Office of Financial Sanctions Implementation, Financial Sanctions Notice: Russia.

UK Office of Financial Sanctions Implementation, Understanding OFSI: An Introductory Webinar.

US Department of Justice, Fraud Section Year in Review 2022.

US Department of the Treasury, Remarks by Deputy Secretary of the Treasury Wally Adeyemo on International Sanctions Against Russia.

World Economic Forum, Cyber scams are exploiting Türkiye-Syria earthquake relief efforts.

Hello, and welcome to episode 64 of the Financial Crime Weekly Podcast, I’m your host, Chris Kirkbride. It’s been a quiet week this week which, to be frank, I’m glad about given other things I’ve had on my plate this week. There has been an increase in the amount of sanctions activity, a decent range of money laundering news, and the usual range of other bits and pieces, as well as the usual round-up of cyber-attack news. Let’s crack on.

As usual, I have linked the main stories flagged in the podcast in the description. These are:

Companies House, Guidance – Register of Overseas Entities: approach to enforcement.

Council of the European Union, Russia’s war of aggression against Ukraine: EU adopts 11th package of economic and individual sanctions.

Council of the European Union, States need to improve criminal asset recovery in combatting money laundering, says MONEYVAL Committee.

European Commission, EU adopts 11th package of sanctions against Russia for its continued illegal war against Ukraine.

European Union Agency for Criminal Justice Cooperation, Eurojust organises first expert meeting on Money Laundering and Asset Recovery.

Financial Action Task Force, Jurisdictions under Increased Monitoring - 23 June 2023.

Financial Action Task Force, Outcomes FATF Plenary, 21-23 June 2023.

Financial Conduct Authority, Consumer warning on Blockchain Access UK Ltd.

Financial Conduct Authority, Consumer warning on Promethean Finance Limited.

His Majesty’s Revenue and Customs, Code of Practice 9: where HMRC suspects fraud (COP9).

HM Inspectorate of Constabulary and Fire and Rescue Services, Vetting and Anti-corruption Part 1: How effective is the National Crime Agency at dealing with corruption?

National Cyber Security Centre, Threats and key takeaways for the legal sector.

National Cyber Security Centre, Cyber Threat Report: UK Legal Sector.

Office of Financial Sanctions Implementation, The Democratic Republic of the Congo notice.

Office of Financial Sanctions Implementation, The Syria notice.

Office of Financial Sanctions Implementation, Guidance: Who is subject to financial sanctions in the UK?

Office of Financial Sanctions Implementation, Guidance: The UK Sanctions List.

Office of Financial Sanctions Implementation, Guidance: General Licences.

Rahman Ravelli, Economic Crime and Corporate Transparency Bill 2023 – the potential impact on corporates and other stakeholders (sign up).

Serious Fraud Office and Financial Conduct Authority, Principles of Co-operation between the Serious Fraud Office and the Financial Conduct Authority.

UK Legislation, The Russia (Sanctions) (EU Exit) (Amendment) (No. 2) Regulations 2023 SI No. 665.

Welcome to the relaunched Financial Crime podcast. In this week's podcast, we look at:

●    The Financial Conduct Authority’s Business Plan for 2022/23 and what it says about combating financial crime

●    The formation of the new Serious Economic, Organised Crime and International Directorate

●    The Association of Certified Fraud Examiners’ Report, Occupational Fraud 2022

●    But before that, where else can we start but with sanctions, sanctions, sanctions, at the forefront of political consciousness globally following Russia’s invasion of Ukraine

Hello, and welcome to episode 145 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. A reasonably busy week this week. On sanctions, new designations from the UK, EU, and US, while the UN has agreed a sanctions extension on Sudan. On money laundering, AUSTRAC and Europol announce action against remitters and digital currency exchanges and a money laundering gang. On market abuse, the Financial Conduct Authority has announced action against Mako Financial Markets Partnership for failings in its systems and controls to prevent financial crime, while in other financial crime news, the Competition and Markets Authority in the UK has announced settlement in a competition case against four banks for sharing sensitive information relating to UK gilts.

A transcript of this podcast is available at www.crimes.financial, with links to the stories.

Hello, and welcome to episode 122 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. On sanctions this week, in the US convictions for sanctions evasion, and further designations, while in Switzerland, there is further alignment between the country and the EU sanctions regime against Russia. On bribery and corruption, a report from the UN on the judicial system in the Kurdistan region of Iraq, new anti-fraud and corruption laws in Hungary, as well as further efforts in Ukraine to clean up its corruption image. The money laundering news comes in the form of a new paper from the FACT Coalition on the subject of Environmental crimes and illicit finance, while fraud news focuses on Covid-19 fraud both in the UK and US. In other financial crime news, the National Crime Agency (‘NCA’) has published its National Strategic Assessment 2024, and there is a brief round-up of some of this week’s cyber crime news.

A transcript of this podcast is available at www.crimes.financial, with links to the stories.

Hello, and welcome to this week in financial crime. I’m your host, Chris Kirkbride. It’s been a relatively quiet week this week, but what there is has a more than limited range of interesting points, so let’s get cracking. We’ll look at…..

●      A bit of sanctions news, including more sanctions from the EU.

●      A bit on money laundering, particularly some work from the FATF.

●      An interesting couple of fraud stories.

●      And, we end with a report on a Supreme Court case on restraint orders.

Hello, and welcome to episode 111 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. This week has been, relative to the last few weeks, a quiet week for financial crime news. That is always welcome for a host of reasons. The sanctions news has the usual updates on further action against Russia from the EU and US, but new of an update in relation to sanctions against the International Criminal Court by the US House of Representatives. On bribery news, a former US Admiral has been charged with bribery, as well as some indications from research in the UK suggesting that business may be lost if a bribe is not paid. The money laundering news brings more from Turkey on its moves to come off the FATF’s ‘Grey List’, and a story from the UK about an end to the criminal investigation into Monzo Bank. There is also some market abuse news from the US, and the usual round-up of cyber-attack news.

As usual, I have linked the main stories flagged in the podcast in the description. These are:

Association of Chartered Accountants, Bribery and corruption – The hidden social evil on your doorstep.

Council of the European Union, DPRK: EU sanctions nine additional individuals and entities involved in the country’s activities related to illegal weapons programmes and supporting Russia’s war of aggression against Ukraine.

Delegation of the European Union to the Russian Federation, Sanctions: Joint Statement on DPRK-Russia.

Interpol, INTERPOL action leads to anti-corruption operation in Moldova.

Monzo Bank, Annual Report 2024.

National Crime Agency, NCA uncovers corrupt officials who helped wanted criminals to circumvent international Red Notice system.

Office of Foreign Assets Control, Iran-related Designations; Non-Proliferation Designations.

Organization for Security and Co-operation in Europe, Kosovo’s judiciary to treat organized crime and corruption cases more vigorously, OSCE Mission report says.

Securities and Exchange Commission, SEC Obtains Final Judgment Against Former Arista Networks Chairman Andy Bechtolsheim for Insider Trading.

Securities and Exchange Commission, SEC Charges Former Lumentum Executive with Insider Trading.

Spotlight on Corruption, Letter from the National Crime Agency highlights problems with the UK’s political finance enforcement regime.

Spotlight on Corruption, National Crime Agency Letter to Spotlight on Corruption.

US Department of Justice, Retired Navy Admiral and Business Executives Arrested for Bribery Scheme.

US Department of Justice, Pharmacy Owner Sentenced for Paying Illegal Kickbacks and Engaging in a Money Laundering Conspiracy.

Hello, and welcome to episode 80 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. Sanctions and money laundering news take our focus this week, because there is not a lot of noise from the other typical areas of financial crime. Yes, there is a little on bribery and corruption, but even cyber-attack news is quiet this week. Still, that’s not stopped us before, and it is not about to stop us now.

As usual, I have linked the main stories flagged in the podcast in the description. These are:

Council on Foreign Relations, What Is the Iran Nuclear Deal?

Financial Conduct Authority, Proceeds of fraud - Detecting and preventing money mules.

Joint Money Laundering Steering Group, JMLSG publishes revisions to Paragraph 5.3.129A.

Joint Money Laundering Steering Group, Paragraphs 5.3.129A-C.

Law Society, HM Treasury review of the AML and CTF supervisory regime – Law Society response.

Lloyd’s of London, Lloyd’s systemic risk scenario reveals global economy exposed to $3.5trn from major cyber attack.

Office of Financial Sanctions Implementation, Financial Sanctions Notice (Iran Nuclear).

Office of Foreign Sanctions Implementation, Financial Sanctions Notice (Iran Nuclear).

Office of Financial Sanctions Implementation, Financial sanctions, Iran relating to nuclear weapons: Guidance.

Office of Financial Sanctions Implementation, General Licence: Payments to Companies House INT/2023/3626884.

Office of Financial Sanctions Implementation, Financial Sanctions Notice (Iran Nuclear).

Office of Foreign Assests Control, Following Terrorist Attack on Israel, Treasury Sanctions Hamas Operatives and Financial Facilitators.

Office of Foreign Assests Control, Treasury Sanctions Actors Supporting Iran’s Missile and UAV Programs.

The Group of States against Corruption, Fifth Evaluation Round Second Compliance Report: Netherlands.

Ukraine Anti-Corruption Court, The Anti-corruption Court Issued a Verdict in the Case of "Ukrtelefilm".

US Department of the Treasury Financial Crimes Enforcement Network, Proposal of Special Measure Regarding Convertible Virtual Currency Mixing, as a Class of Transactions of Primary Money Laundering Concern.

Hello, and welcome to this week in financial crime. I’m your host, Chris Kirkbride. A good deal spinning around the world of financial crime this week. There has been a slight up-tick in activity on sanctions, including enforcement against some of those allegedly aiding sanctioned individuals. There is also some significant fraud news, and the FCA in the UK has been active in taking enforcement action this week. And, as we’ve started to do, there is a round-up of the mass of cyber news making the headlines this week, so let’s make a start.

These are the links to the principal documents mentioned in the podcast: 

Financial Conduct Authority, FCA calls on victims of Richard Faithfull to come forward ahead of confiscation hearing.

Financial Conduct Authority, FCA starts court process to recover money for investors.

Financial Conduct Authority, Cryptoasset firms marketing to UK consumers must get ready for financial promotions regime.

Financial Conduct Authority, Campbell & Associates Independent Financial Advice Ltd (First Supervisory Notice).

Microsoft blog post, Iran responsible for Charlie Hebdo attacks.

Payment Systems Regulator, PSR sets out proposed plans for the reporting of Authorised Push Payment scams (press release).

Payment Systems Regulator, CP23/1: APP scams data publishing guidance (consultation paper).

The Wolfsberg Group, Publication of the CBDDQ, FCCQ, Guidance, Glossary and FAQs (press release).

The Wolfsberg Group, Correspondent Banking Due Diligence Questionnaire (CBDDQ) (version 1.2), Financial Crime Compliance Questionnaire (FCCQ), and updated supporting Guidance, Glossary and FAQs.

UK government, New sanctions target Putin’s war machine and financial networks as UK accelerates economic pressure on Russia (press release).

UK government, Financial Sanctions, Global Anti-Corruption (updated list).

UK government (Home Office), Review of the Computer Misuse Act 1990: consultation and response to call for information.

UK government (HM Treasury), Government approach to cryptoasset financial promotions regulation policy statement.

UK government (HM Treasury), UK Sanctions List Publication (updated 09/02/2023).

UK government, HM Treasury Office of Financial Sanctions Implementation, Ransomware and Sanctions Guidance on Ransomware and Financial Sanctions.

UK government, Webpage linking all issued guidance on Financial Sanctions.

UK government (Department for Digital, Culture, Media and Sport), Call for views on software resilience and security for businesses and organisations.

US Department of the Treasury, Remarks by Under Secretary for International Affairs Jay Shambaugh at Afore Consulting’s 7th Annual FinTech and Regulation Conference.

US Department of the Treasury, United States and United Kingdom Sanction Members of Russia-Based Trickbot Cybercrime Gang.

US Department of the Treasury, Treasury Sanctions Companies Involved in Production, Sale, and Shipment of Iranian Petrochemicals and Petroleum.

US Department of Justice, Associate of Sanctioned Oligarch Indicted for Sanctions Evasion and Money Laundering.

US Department of Justice, Nearly 40,000 Victims Receive Over $115M in Compensation for Fraud Schemes Processed by MoneyGram.

Hello, and welcome to episode 104 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. This week has been yet another busy week for financial crime, which as I’ve been ill, I could well have done without. Anyway, sanctions news covers a broad range of targets, including Belarus, Iran, Venezuela, and North Korea. The action comes in the form of new designations and some enforcement. On bribery and anti-corruption, the all-party Parliamentary Group on Anti-Corruption & Responsible Tax has published its Economic Crime Manifesto II, and Transparency International has been busy churning out publications this week. On money laundering, Tiktok has been referred to AUSTRAC, and Europol has made a number of arrests of members of a money laundering gang. The fraud news contains the usual content from the US on Covid-19 fraud, and the Met Police in London has compromised a website used by fraudsters. There are other bits and pieces, as well as the round-up of cyber-attack news this week. Let’s crack on.

As usual, I have linked the main stories flagged in the podcast in the description. These are:

All-Party Parliamentary Group on Anti-Corruption & Responsible Tax, Economic Crime Manifesto II.

Delegation of the European Union to Ukraine, “The Decade of Transformation, Towards a Future of Integrity”: the EU gathered partners to mark 10 years of its support to rule of law and anti-corruption reforms in Ukraine.

European Parliament, Fighting money laundering: final vote on a single EU rulebook and a new watchdog.

Europol, 9 arrests in EUR 645 million JuicyFields investment scam case.

Financial Action Task Force, FATF Ministers commit to stepping up efforts to fight money laundering, terrorist and proliferation financing.

Financial Conduct Authority, Consultation Paper CP24/2**: Our Enforcement Guide and publicising enforcement investigations–a new approach.

Governing, How to Protect Water Systems Against Cyber Attack.

International Federation for Human Rights, Fighting grand corruption: an essential lever to protect human rights worldwide.

Mandiant, Unearthing APT44: Russia’s Notorious Cyber Sabotage Unit Sandworm.

Metropolitan Police, Law enforcement infiltrates fraud platform used by thousands of criminals worldwide.

Office of Financial Sanctions Implementation, Financial Sanctions Notice: Sudan.

Office of Financial Sanctions Implementation, Financial Sanctions Notice: Democratic People’s Republic of Korea.

Office of Financial Sanctions Implementation, Financial Sanctions Notice: Iran.

Office of Financial Sanctions Implementation, Financial sanctions targets: list of all asset freeze targets.

Pinsent Masons, How social media influencer marketing regulation differs across the Asia Pacific region.

Transparency International, Will the EU act Decisively and Raise its Anti-Corruption Standards?

Transparency International, Stopping Corruption Promoting Integrity.

UK Legislation, Economic Crime and Corporate Transparency Act 2023 (Financial Penalty) Regulations 2024 SI No 445.

US Department of Justice, Former North Korean Official Indicted on Sanctions Evasion, Conspiracy to Commit Bank Fraud, and Money Laundering Charges.

US Department of Justice, International Arms Dealers Charged with Conspiring to Unlawfully Export Weapons and Ammunition from the United States to Sudan and Iraq.

US Department of Justice, Biotech CEO Sentenced for $28M COVID-19 Securities Fraud Scheme and Obstruction of Related Investigation.

US Department of Justice, Sterling businessman indicted for Covid-19 relief fund fraud.

US Department of Justice, Three Individuals Indicted in Multistate COVID-19 Relief Program Fraud Scheme.

US Department of State, Venezuela Sanctions Relief: Expiration of General License 44.

US Department of the Treasury, Treasury Targets Belarusian Sanctions Evasion Networks and Cogs in Russia’s War Machine.

US Department of the Treasury, Treasury Targets Iranian UAV Program, Steel Industry, and Automobile Companies in Response to Unprecedented Attack on Israel.

US Department of the Treasury, Remarks by Secretary of the Treasury Janet L. Yellen at the 2024 Financial Action Task Force Ministerial.

US Securities and Exchange Commission, Comment on FinCEN’s AML/CFT Program and SAR Filing for Registered Investment Advisers and Exempt Reporting Advisers Proposal.

Hello, and welcome to episode 77 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. Sanctions have taken a back seat this week, but plenty on fraud and money laundering to take up the slack. There’ll also be a round-up of the mass of cyber-attack news this week.

As usual, I have linked the main stories flagged in the podcast in the description. These are:

Criminal Cases Review Commission, Five more ex Post Office workers have convictions set aside.

Financial Action Task Force, Anti-money laundering and counter-terrorist financing measures: Luxembourg Mutual Evaluation Report.

House Oversight Committee (Cybersecurity, Information Technology, and Government Innovation and Economic Growth, Energy Policy, and Regulatory Affairs Joint Hearing), Combating Ransomware Attacks.

Office of Financial Sanctions Implementation, Financial Sanctions Notice: Russia (27/09/2023).

Office of Financial Sanctions Implementation, Financial Sanctions Notice: Russia (29/09/2023).

Office of Financial Sanctions Implementation, Correspondent Banking Payments INT/2023/3566356.

Office of Financial Sanctions Implementation, Guidance: Who is subject to financial sanctions in the UK? (updated).

Reynolds Porter Chamberlain, Cybersecurity breaches at financial services firms more than trebles.

Securities and Exchange Commission, SEC Charges Former Financial Industry Analyst and Three Others with Insider Trading.

Serious Fraud Office, Nick Ephgrave QPM begins tenure as Director of the Serious Fraud Office.

UK Government, UK announces new sanctions in response to Russian sham elections in Ukraine.

US Department of Justice, Two Brothers Plead Guilty To COVID Relief Fraud.

US Department of Justice, Five Cleveland-Area Men Sentenced to Imprisonment and Ordered to Pay Over $800,000 as part of a Pandemic Unemployment Assistance Fraud Scheme.

US Department of Justice, Two Promoters Charged in Alleged Nationwide Illegal Abusive-Trust Tax Shelter Fraud Scheme.

US Department of Justice, Former Employee of Two Leading Global Financial Institutions and his Associates Charged with Insider Trading.

US Department of Justice, Albemarle to Pay Over $218M to Resolve Foreign Corrupt Practices Act Investigation.

US Department of the Treasury, Office of Foreign Assets Control, OFAC Settles with 3M Company for $9,618,477 Related to Apparent Violations of the Iranian Transactions and Sanctions Regulations.

US Department of the Treasury, Office of Foreign Assets Control, OFAC Settles with Emigrant Bank for $31,867.90 Related to Apparent Violations of the Iranian Transactions and Sanctions Regulations.

US Department of the Treasury, Office of Foreign Assets Control, Settlement Agreements between the U.S. Department of the Treasury’s Office of Foreign Assets Control and 3M Company, and with Emigrant Bank (press release).

US Securities and Exchange Commission, Deutsche Bank Subsidiary DWS to Pay $25 Million for Anti-Money Laundering Violations and Misstatements Regarding ESG Investments.

US Securities and Exchange Commission, Albemarle Corp. to Pay SEC More Than $103 Million to Settle FCPA Violations.

Hello, and welcome to episode 142 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. The news is starting to pick up now after the Christmas and New Year lull. On sanctions, additions to the Belarus financial sanctions regime by the UK, and the Council of Europe has made additions to its Russia financial sanctions regime. On money laundering, the European Public Prosecutor’s Office has announced an indictment over money laundering by a criminal syndicate, and French authorities are to investigate alleged money laundering in relation to cryptocurrency exchange, Binance. On fraud, news from the UK concerning the Post Office Horizon IT scandal, and some market conduct action by the Financial Conduct Authority. There is also a round-up of other financial crim news across Europe, and this week’s Cybercrime news.

A transcript of this podcast is available at www.crimes.financial, with links to the stories.

Hello, and welcome to this week in financial crime. I’m your host, Chris Kirkbride. The world of financial crime has another busy week, with plenty of sanctions, money laundering, and cyber. Cyber, cyber, everywhere, so let’s crack on.

These are the links to the principal documents mentioned in the podcast:

European Union, The European Commission asks for the public’s view in the fight against corruption.

Financial Conduct Authority, Five individuals face conspiracy to insider deal and money laundering charges.

Financial Conduct Authority, Cryptoasset AML/CTF regime: feedback on good and poor quality applications.

Gambling Commission, £6.1m fine for online operator In Touch Games.

National Crime Agency, HIVE takedown: NCA in international operation to shut down $100m ransomware threat.

National Crime Agency, Suspicious Activity Report (SARs) Annual Report 2022 (press release).

National Crime Agency, Suspicious Activity Report (SARs) Annual Report 2022.

Open Democracy, Revealed: UK government helped sanctioned Putin ally sue British journalist.

UK Insolvency Service, Two directors who wrongly claimed Bounce Back Loans convicted.

UK Insolvency Service, Three company directors banned for a total of 30 years for abusing Bounce Back Loans.

UK Treasury Select Committee, 85% of crypto firms failed to meet minimum standards, according to FCA.

UK Treasury Select Committee, Correspondence from FCA to Committee concerning the cryptoasset industry.

US Department of Justice, Former Special Agent in Charge of the FBI New York Counterintelligence Division Charged with Violating U.S. Sanctions on Russia.

US Department of the Treasury, Treasury Sanctions Russian Proxy Wagner Group as a Transnational Criminal Organization.

Hello, and welcome to this week in financial crime. I’m your host, Chris Kirkbride. It’s been another busy one this week, so best to crack on with our round-up of all things financial crime. We’ll look at…..

●      Some sanctions news this week, with more individuals sanctioned and news of the success of a co-ordinated approach

●      An update from Companies House on the secondary legislation supporting the establishment of the Register of Overseas Entities

●      A look at the UK Finance Fraud Report for 2022

●      And news of a Special Edition of the podcast

Hello, and welcome to episode 88 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. It’s yet another busy week of financial crime news, so I’m just going to get on with it.

As usual, I have linked the main stories flagged in the podcast in the description. These are:

Baker & McKenzie, UK government announces creation of specialist enforcement unit for trade sanctions.

Council of Europe, Evaluation Report: United States of America.

Council of the European Union, Anti-money laundering: Council and Parliament agree to create new authority.

Courts and Tribunals Judiciary, Speech by HHJ Pelling KC: Issues in Crypto Currency Claims.

Department for Business and Trade, New unit to crack down on firms dodging Russian sanctions.

Department of Justice, Commodities Trading Company Agrees to Pay Over $98M to Resolve Foreign Bribery Case.

Europol, EUR 5.5 million frozen in anti-corruption investigations across Europe.

Europol, Early Warning Notification: The Use of Bluetooth trackers for geolocation in organised crime.

Foreign, Commonwealth & Development Office, New Iranian sanction regime comes in to force.

Home Office, Serious and organised crime strategy 2023 to 2028.

Interpol, INTERPOL Secretary General welcomes G7 commitments on transnational organized crime.

Joint Committee on the National Security Strategy, A hostage to fortune: ransomware and UK national security – Report Summary.

Ministry of Justice, Ministry of Justice Cyber Security Strategy: 2023 to 2028.

National Audit Office, Financial services regulation: Adapting to change (press release).

National Audit Office, Financial services regulation: Adapting to change (report).

National Crime Agency, National Crime Agency calls on parents to help young people recognise the signs of money muling.

National Crime Agency, SARs in Action: Issue 23.

Office of Financial Sanctions Implementation, Financial Sanctions Notice: Haiti.

Office of Financial Sanctions Implementation, Financial Sanctions Notice: Counter-Terrorism (International).

Office of Financial Sanctions Implementation, Financial Sanctions Notice: Iran.

Office of Financial Sanctions Implementation, Financial Sanctions Notice: Russia.

Office of Financial Sanctions Implementation, Consolidation List.

Office of Financial Sanctions Implementation, OFSI Annual Review 2022 to 2023: Strengthening our Sanctions.

Office of Foreign Assets Control, Transnational Criminal Organizations Designations; Counter Terrorism Designation; Iran-related Designation.

Ro Khanna, Release: Ro Khanna Introduces A New Political Reform And Anti-corruption Plan To Clean Up Corruption In Washington.

Ro Khanna, Expressing support for a comprehensive political reform plan.

UK Legislation, Crime and Courts Act (section five).

UK Legislation, The National Crime Agency (Directed Tasking) Order 2023.

US Department of State, Promoting Accountability in Support of the 75th Anniversary of the Universal Declaration of Human Rights.

US Department of State, Taking Additional Sweeping Measures Against Russia.

US Department of Justice, Leader of $6.8 Million Pandemic Fraud Scheme Pleads Guilty to Wire Fraud and Money Laundering Charges.

US Department of Justice, Justice Department Announces Distribution of Over $158.9M to Nearly 25,000 Victims of Madoff Ponzi Scheme.

US Department of Justice, Albany Man Pleads Guilty to Pandemic Relief Fraud.

US Department of Justice, Two Men Charged for Operating $25M Cryptocurrency Ponzi Scheme.

US Department of the Treasury, Treasury Designates Perpetrators of Human Rights Abuse and Commemorates the 75th Anniversary of the Universal Declaration of Human Rights.

US Department of the Treasury, Testimony of Assistant Secretary for Terrorist Financing and Financial Crimes Before the Committee on Financial Services Subcommittee On Oversight And Investigations, U.S. House.

YouTube, The Interview: Baroness Mone and the PPE Scandal.

Hello, and welcome to the first episode of the Financial Crime Weekly Podcast of 2025 – episode 139 – I’m Chris Kirkbride. The end of the calendar year and the beginning of the new calendar year offers some respite for the typical deluge of financial crime stories, and so it is with this episode. The sanctions news has the usual range of sanctions additions, amendments, and licences, with the big news from the UK where a new sanctions regime against people smugglers has been announced. On money laundering, action in the UK against a gambling corporation, and news from Portugal concerning one of its large banks. This short episode is then rounded-off with one piece of cybercrime news which is actually sanctions news.

A transcript of this podcast is available at www.crimes.financial, with links to the stories.

Hello, and welcome to this week in financial crime. I’m your host, Chris Kirkbride. The world of financial crime gets a bit busier this week as 2023 starts to warm up. A good range of fraud stories, with a lot from the UK National Cyber Security Centre, including some interesting free events to attend. The UK Financial Conduct Authority has also been busy too. Let’s just get on with it.

These are the links to the principal documents mentioned in the podcast:

Companies House, Register of Overseas Entities Reminder Letter.

Companies House, Disposing of UK property as an overseas entity.

Council of Europe, Criminal Law Convention on Corruption.

Financial Action Task Force, Consolidated Assessment Ratings.

Financial Conduct Authority, Final Notice: Guaranty Trust Bank (UK) Ltd.

Financial Conduct Authority, FCA fines Guaranty Trust Bank (UK) Limited £7.6million for further failures in its anti-money laundering systems and controls.

Financial Conduct Authority, Final Notice: Al Rayan Bank plc.

Financial Conduct Authority, FCA penalises Al Rayan Bank PLC for anti-money laundering failures.

Financial Conduct Authority, Letter to wholesale brokers.

Financial Conduct Authority, Market Watch 62.

Financial Conduct Authority, Market Watch 69.

Financial Conduct Authority, 2023 Fines.

Insolvency Service, Coventry artist hit with 7-year ban for abusing Bounce Back Loan.

National Cyber Security Centre, NCSC Digital Loft: Updating the Cyber Essentials technical requirements for 2023.

National Cyber Security Centre, NCSC Digital Loft: Incident Management & the cyber threat from Russia.

National Cyber Security Centre, Threat Report 13th January 2023.

Office for Professional Body Anti‑Money Laundering Supervision (OPBAS), Sourcebook for professional body anti‑money laundering supervisors.

Spotlight on Corruption, From Serious Farce to Serious Force – 4 priorities for beefing up the Serious Fraud Office in 2023.

Spotlight on Corruption, Tribunal’s Covid loan scheme ruling should not let the government off the hook.

Hello, and welcome to episode 143 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. The news is certainly starting to pick up now. There has been an increase in designations, principally from the US, though also from Australia. On money laundering news, MONEYVAL has issued an update on Bosnia and Herzegovina, while the FATF has published its Annual Report. On bribery and corruption news, the former Chief Operating Manager of Trafigura has been sentenced for his part in bribery, and GRECO has published its first report on Bulgaria. On fraud news, Comms Council UK (‘CCUK’) and National Trading Standards have launched a joint information-sharing initiative, and the Charity Commission has issued an alert for certain charities which may be caught by the new failure to prevent fraud offence. There is a round-up of other financial crime news, and some cybercrime news.

A transcript of this podcast is available at www.crimes.financial, with links to the stories.

Hello, and welcome to episode 67 of the Financial Crime Weekly Podcast, I’m your host, Chris Kirkbride. It’s been one hell of a busy week this week, where fraud and money laundering take centre stage, and we also round-up the cyber-attack news appearing across various outlets. Let’s crack on.

As usual, I have linked the main stories flagged in the podcast in the description. These are:

Amnesty International, West & Central Africa: Authorities must fight corruption and uphold the human rights of those who expose it.

Beazley, Spotlight On: Cyber & Technology Risk 2023.

British Council, Counter-fraud reports.

European Banking Authority, Supervisors of banks are making progress in the fight against financial crime, the EBA finds (press release).

European Banking Authority, Report On Competent Authorities’ Approaches To The Supervision Of Banks With Respect To Antimoney Laundering And Countering The Financing Of Terrorism (Round 3 – 2022) (EBA/REP/2023/20).

European Banking Authority, Opinion of the European Banking Authority on money laundering and terrorist financing risks affecting the EU’s financial sector (EBA/Op/2023/08).

European Securities and Markets Authority, ESMA Report On the Call for Evidence on pre-hedging.

Financial Conduct Authority, The Financial Conduct Authority continues crackdown on unregistered crypto ATMs in the UK.

Financial Conduct Authority, Final Notice: Bastion Capital London Ltd.

Financial Conduct Authority, FCA fines Bastion Capital London Limited £2.5m for serious financial control failings.

Gambling Commission, Sanction: Star Racing Limited.

Gambling Commission, Gambling business Star Racing Limited fined £594,000.

International Institute for the Unification of Private Law (UNIDROIT), Principles on Digital Assets and Private Law.

JDSupra, 7 Key Practices Companies Should Implement to Ensure Cyber Safety in the Age of Remote Work.

Office of Financial Sanctions Implementation, An Update to our Licensing Process: Returning Incomplete Applications.

Office of Financial Sanctions Implementation, Financial Sanctions Notice: Syria.

Office of Financial Sanctions Implementation, Financial Sanctions Notice: Sudan.

Payment Systems Regulator, CP 23/4: APP fraud reimbursement requirement - draft legal instruments.

Transparency International, Africa Anti-Corruption Day: Transparency International Calls On African Union Leaders To Act On Anti-Corruption Commitments.

UK Government, Government and industry meet to progress the fight against fraud.

United Kingdom Supreme Court, Philipp v Barclays Bank plc [2023] UKSC 25 (judgment).

United Kingdom Supreme Court, Philipp v Barclays Bank plc [2023] UKSC 25 (press summary).

US Office of Foreign Assets Control, Treasury Sanctions Official Linked to Corruption in Serbia.

US Office of Foreign Assets Control, Treasury Sanctions Illicit Fentanyl Network Run by Key Sinaloa Cartel Family Members.

US Department of Justice, U.S. Attorney Announces Charges Against Co-Director Of Think Tank For Acting As An Unregistered Foreign Agent, Trafficking In Arms, Violating U.S. Sanctions Against Iran, And Making False Statements To Federal Agents.

US Department of Justice, Former Security Engineer For International Technology Company Arrested For Defrauding Decentralized Cryptocurrency Exchange.

US Department of Justice, Allianz Global Investors U.S. Sentenced In Connection With Multibillion-Dollar Fraud Scheme.

US Department of State, Designation of Juan Carlos Varela Rodriguez, Former Panamanian President, for Significant Corruption.

Hello, and welcome to episode 150 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. The sanctions news this week brings new designations from the US and UK, as well as a host of amendments to designations and licences in the UK. The money laundering news brings a Hawala warning from HMRC in the UK, and of the need for public-private collaboration from the FATF. On bribery and corruption news, the UNDP has updated on its collaborative efforts in Samoa, and the OECD puts Belgium into the spotlight on its implementation of the OECD Convention. On market abuse news, challenges against conviction in the LIBOR-rigging convictions, and there is a round-up of other financial crime news and a little cybercrime news.

A transcript of this podcast, with links to the stories, will be available by Monday at www.crimes.financial.

Hello, and welcome to this week in financial crime. I’m your host, Chris Kirkbride. It’s been another week of interesting, and there’s quite a bit to wade through, so let’s get cracking. We’ll look at…..

●     A bit of sanctions news, including more sanctions from the EU.

●      A load on money laundering, both in the UK and beyond.

●      An interesting couple of pieces on fraud and bribery.

●      And, we end with a bit on cyber and ransomware.

This Special Edition of the Financial Crime UK Monthly podcast looks at the recent decision of the Supreme Court in R v Hilton [2020] UKSC 29:

https://www.supremecourt.uk/cases/docs/uksc-2018-0075-judgment.pdf

The Court was asked to consider the circumstances in which third parties could make representations where a crown court made a determination of a defendant’s interest at the confiscation stage (s160A, Proceeds of Crime Act (‘PoCA’) 2002). Though an appeal on a provision which relates to PoCA powers in Northern Ireland (s160A), it has a wider impact given the operation of an equivalent provision in England and Wales (s10A, PoCA 2002).

Hello, and welcome to episode 53 of the Financial Crime Weekly Podcast, I’m your host, Chris Kirkbride. It’s been another bumper week for financial crime this week, so my hopes that there would be an ease down in work were short-lived. Lots of news on everything, except for sanctions, with a round-up of cyber-attack news at the end.

These are the links to the principal documents mentioned in the podcast:

BBC, ChatGPT: Mayor starts legal bid over false bribery claim.

Clyde & Co, Directors' and Officers' Liability Survey 2023.

European Central Bank, Money laundering must be tackled at European level.

European Data Protection Board, EDPB adopted letter to EU institutions on data sharing for AML/CFT purposes (press release).

European Data Protection Board, EDPB letter to the European Parliament, the Council, and the European Commission on data sharing for AML-CFT purposes in light of the Council’s mandate for negotiations.

Gambling Commission, Gambling business TGP Europe fined £316,250 (press release).

Gambling Commission, Notice of Regulatory Sanction (TGP Europe Limited).

National Cyber Security Centre, 3CX DesktopApp security issue.

National Cyber Security Centre, Free Cyber Action Plan.

National Cyber Security Centre, Check your cyber security.

UK Financial Conduct Authority, FCA and ASA team up with Sharon Gaffka to warn fin-fluencers of risks of promoting illegal ‘get rich quick’ schemes (press release).

UK Financial Conduct Authority, FCA and ASA team up to warn finfluencers of risks of promoting illegal ‘get rich quick’ schemes (infographic).

UK Financial Conduct Authority, Business Plan 2023/24.

UK Financial Conduct Authority, Three individuals convicted and sentenced to a combined 24 and a half years for 'all-or-nothing’ investment fraud.

UK Food Standards Agency, CEO Statement on meat fraud investigation.

UK Food Standards Agency, Chief Executive’s message to stakeholders – Our meat fraud investigation.

UK Ministry of Justice, Scammers using Ministry of Justice telephone numbers.

UK Ministry of Justice, Fraud and scams (Legacy link).

UK National Crime Agency, Money laundering couple caught smuggling criminal cash during lockdown.

UK Office of Financial Sanctions Implementation, Financial sanctions, Cyber.

UK Office of Financial Sanctions Implementation, Financial sanctions, Russia.

UK Serious Fraud Office, SFO secures sentences totalling over 13 years for executives behind $500m bank fraud.

US Department of Justice, Boston Man Convicted of Money Laundering Conspiracy.

US Department of Justice, Former Start-Up CEO Charged In $175 Million Fraud.

US Department of Justice, Man Pleads Guilty to $3.1M Medicare Fraud Scheme.

US Department of Justice, Texas Laboratory Agrees to Pay $5.9 Million to Settle Allegations of Kickbacks to Third Party Marketers and Unnecessary Drug Tests.

US Department of the Treasury’s Office of Foreign Assets Control, Treasury Sanctions Facilitator for Attempted Arms Deals Between North Korea and Russia.

Hello, and welcome to episode 112 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. I fear that things are getting busy again, as this week is typical of so many recent weeks for this podcast in that there is a wealth of news. The sanctions news comes in the form of a host of stories concerning oil exports from both Iran and Russia, with the latter being the subject of an investigation into possible sanctions evasion in relation to the oil price cap. On fraud news, action taken across the European Union against fraudsters abusing EU funds and citizens by an old-fashioned Ponzi scheme. On money laundering news, in the UK, two bodies have published their submissions to HM Treasury’s consultation on the Money Laundering Regulations. In other news, the European Union Innovation Hub for Internal Security, with assistance from Europol and others, has published its first report on encryption, and finally, there is a round-up of the cyber-attack news this week.

As usual, I have linked the main stories flagged in the podcast in the description. These are:

Association for Financial Markets in Europe, Consultation Response: AFME response to HM Treasury’s consultation on improving the effectiveness of the Money Laundering Regulations.

Centre for Finance, Innovation and Technology, CFIT Forms Industry Coalition – ‘Fighting Economic Crime Through Enhanced Verification’.

Centre for Research on Energy and Clean Air, War profiteering: Eight UK-insured tankers violate price cap, boosting Kremlin revenues by GBP 87 mn.

Chartered Institute of Taxation, Improving the effectiveness of the Money Laundering Regulations Response by the Chartered Institute of Taxation.

Eurojust, Eurojust supports authorities in dismantling EUR 113 million fraudulent investment scheme.

European Public Prosecutor’s Office, EPPO conducts searches in Romania and Spain in probe into €10 million fraud.

European Public Prosecutor’s Office, Italy: EPPO arrests a third suspect in investigation into €50 million VAT fraud.

European Union Innovation Hub for Internal Security, First Report on Encryption.

Europol, First Report on Encryption.

HM Treasury, Improving the effectiveness of the Money Laundering Regulations.

Office of Financial Sanctions Implementation, Financial Sanctions Notice: Myanmar.

Office of Financial Sanctions Implementation, Guidance: Financial sanctions, Myanmar.

Office of Financial Sanctions Implementation, Financial Sanctions Notice: Russia.

Office of Financial Sanctions Implementation, Financial Sanctions Notice: Russia.

Office of Financial Sanctions Implementation, Guidance: Who is subject to financial sanctions in the UK?

Office of Financial Sanctions Implementation, Personal Staff Payments Licensing Guidance.

Office of Foreign Assets Control, Treasury Targets Companies and Vessels Behind Illicit Houthi Shipments.

Office of Foreign Assets Control, As Russia Completes Transition to a Full War Economy, Treasury Takes Sweeping Aim at Foundational Financial Infrastructure and Access to Third Country Support.

Royal United Services Institute, Weaponisation of the FATF Standards: A Guide for Global Civil Society.

Royal United Services Institute, Suppression Laundering: Using FATF as a Fig Leaf to Target Civil Society (Policy Brief).

Royal United Services Institute, Weaponisation of the FATF Standards: A Guide for Global Civil Society (publication).

The White House, Bilateral Security Agreement Between the United States of America and Ukraine.

UK Government, New UK sanctions to crack down on Putin's war machine.

US Bureau of Industry and Security, Department of Commerce Announces Additional Export Restrictions to Counter Russian Aggression.

US Department of Justice, Two Individuals Sentenced to Prison in Connection With $7.5 Million Multi-State PPP Fraud Scheme.

US Department of Justice, Defendants Sentenced to Prison for Conspiracy to Sell Sanctioned Iranian Petroleum to China.

US Department of Justice, Founder and Former CEO of Artificial Intelligence Company Charged with Securities Fraud.

US Department of State, Imposing Sanctions on Corrupt Actors in Guyana.

US Department of State, Taking Additional Measures to Degrade Russia’s Wartime Economy.

US Government Accountability Office, What are the Biggest Challenges to Federal Cybersecurity? (High Risk Update).

World Economic Forum, Paris Olympics 2024: Cybersecurity experts sound the alarm on cyber threats.

Hello, and welcome

to episode 85 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. It has been another bumper week for financial crime news again this week – a hat-trick of bumper weeks. Stories across every aspect of financial crime, so let’s crack on.

As usual, I have linked the main stories flagged in the podcast in the description. These are:

Australian government, 2023-2030

Australian Cyber Security Strategy.

European Central Bank, Interview with

Anneli Tuominen, Member of the Supervisory Board of the ECB, conducted by

Tobias Fischer.

Financial Action Task Force, Misuse of

Citizenship and Residency by Investment Programmes.

Financial Conduct Authority, FCA censures NMC

Health Plc (in Administration) for market abuse (press release).

Financial Conduct Authority, Final Notice: NMC

Health Plc (in Administration).

Foreign and Commonwealth Development Office and Office of Financial Sanctions Implementation, Ownership and

Control: Public Officials and Control guidance.

International Monetary Fund, IMF Executive

Board Completes the First Reviews Under the Extended Credit Facility and

Extended Fund Facility Arrangements for Papua New Guinea.

National Cyber Security Centre, UK and Republic of

Korea issue warning about DPRK state-linked cyber actors attacking software

supply chains.

National Intelligence Service, ROK-UK Joint Cyber

Security Advisory (DPRK actors conduct S/W supply chain attacks).

Securities and Exchange Commission, SEC Charges Kraken for Operating as

an Unregistered Securities Exchange, Broker, Dealer, and Clearing Agency.

SmartSearch, Sanctions

screening by regulated firms plunges almost 50 per cent, reveals SmartSearch

survey.

UK government, UK and Republic of

Korea to enforce sanctions against North Korea through joint sea patrols (press

release).

UK judgments, Litasco SA v Der

Mond Oil and Gas Africa SA [2023] EWHC 2866 (Comm).

US Department of Justice, Monmouth County

Man Convicted of Tax Evasion in Securities Fraud Scheme.

US Department of Justice, Ex-Spouses Plead

Guilty to Receiving and Laundering Money Stolen from Retirement and Investment

Accounts.

US Department of Justice, Pharmacy Owners

and Doctor Convicted for $145M Health Care Fraud, Money Laundering, and Tax

Evasion Scheme.

US Department of Justice, COVID-19 Relief

Fraudster Convicted of Bank Fraud.

US Department of Justice, Former General

Motors Manager Found Guilty of Conspiring to Receive Bribe from Foreign Parts

Supplier Seeking Contract.

US Department of Justice, British

Reinsurance Brokers Resolve Bribery Investigations.

US Department of Justice, San Antonio Man

Indicted for Defrauding Federal COVID-Era Programs.

US Department of

Justice, Binance and CEO

Plead Guilty to Federal Charges in $4B Resolution (press release).

US Department of

Justice, Attorney General

Merrick B. Garland Delivers Remarks Announcing Binance and CEO Guilty Pleas to

Federal Charges in $4B Resolution.

US Department of Justice, Deputy Attorney

General Lisa O. Monaco Delivers Remarks Announcing Binance and CEO Guilty Pleas

to Federal Charges in $4B Resolution.

US Department of Justice, United States

Files Forfeiture Action to Recover Cryptocurrency Traceable to Fraud Scheme.

US Department of the Treasury, Remarks by

Assistant Secretary Graham Steele at the Federal Insurance Office and NYU Stern

Volatility and Risk Institute Conference on Catastrophic Cyber Risk and a

Potential Federal Insurance Response.

US Department of the Treasury, U.S. Treasury

Announces Largest Settlements in History with World’s Largest Virtual Currency

Exchange Binance for Violations of U.S. Anti-Money Laundering and Sanctions

Laws (press release).

US Department of the Treasury, Settlement

Agreement.

US Department of the Treasury, Enforcement

Release (Binance).

Hello, and welcome to episode 95 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. It is yet another busy week for financial crime. There is the usual range of sanctions updates and additions, together with blog posts on imminent updates to guidance and operations. On money laundering, there is some important movement from the EU on a new regulation and directive, and in the UK, the Home Office has responded to the Law Commission’s SARs regime recommendations. In terms of fraud, the UK has launched a new anti-fraud initiative – another one – with a clear aim at prevention. Finally, the recently-appointed Director of the SFO has delivered his first speech since appointment, with some interesting take-aways, and I have rounded up some of this week’s cyber-attack news. Lots to get through, so let’s crack on.

As usual, I have linked the main stories flagged in the podcast in the description. These are:

Council of Europe, Azerbaijan should step up investigations and prosecutions of money laundering and improve supervisory arrangements, says MONEYVAL.

Council of the European Union, Proposal for a Regulation of the European Parliament and of the Council on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing.

Council of the European Union, Proposal for a Directive of the European Parliament and of the Council on the mechanisms to be put in place by the Member States for the prevention of the use of the financial system for the purposes of money laundering or terrorist financing and repealing Directive (EU) 2015/849.

Council of the European Union, Note: General Secretariat of the Council.

Financial Conduct Authority, Four men under investigation on suspicion of multiple offences.

Financial Conduct Authority, FCA bans and fines Floris Jakobus Huisamen over London Capital & Finance plc financial promotions.

Financial Conduct Authority, Final Notice: Floris Jakobus Huisamen.

Financial Conduct Authority, Mohammed Zina found guilty of insider dealing and fraud.

Financial Crimes Enforcement Network, Fact Sheet: Anti-Money Laundering Program and Suspicious Activity Report Filing Requirements for Registered Investment Advisers and Exempt Reporting Advisers Notice of Proposed Rulemaking.

Financial Crimes Enforcement Network, Statement of FinCEN Director Andrea Gacki before the House Committee on Financial Services.

Forbes, What Is Phishing? Understanding Cyber Attacks.

Foreign, Commonwealth and Development Office, UK sanctions extremist settlers in the West Bank (press release).

His Majesty’s Revenue and Customs, Economic Crime Supervision Handbook.

Information Commissioner’s Office, ICO approves legal services certification scheme.

International Monetary Fund, Corruption and Economic Growth in Moldova: A Reexamination.

Microsoft, Staying ahead of threat actors in the age of AI.

Nick Ephgrave, Director Ephgrave’ speech at RUSI 13 February 2024.

Norton Rose Fulbright, Regulation Tomorrow Plus: Submitting better SARs - A guide for MLROs and in-house teams.

Office of Financial Sanctions Implementation, Financial Sanctions Notice: Global Human Rights.

Office of Financial Sanctions Implementation, Financial Sanctions Notice: Russia.

Office of Financial Sanctions Implementation, Changes coming to OFSI guidance in 2024 (blog post).

Office of Financial Sanctions Implementation, New reporting requirements for Designated Persons under the Russia Regime (blog post).

Office of Financial Sanctions Implementation, Financial sanctions guidance for ransomware.

Office of Financial Sanctions Implementation, General Licence - INT/2022/2009156.

Office of Financial Sanctions Implementation, Introduction to Financial Sanctions Licensing Webinar.

Office of Financial Sanctions Implementation, UK Maritime Services Ban and Oil Price Cap: Industry Guidance.

Office of Financial Sanctions Implementation, General Licence – Oil Price Cap  INT/2024/4423849.

Office of Financial Sanctions Implementation, General Licence – Publication Notice.

Office of the Inspector General, Audit of the Criminal Division’s Money Laundering and Asset Recovery Section Special Analytics System.

Pinsent Masons, The importance of a cyber incident response plan.

UK Home Office, Policy Paper: Response to Law Commission review of the SARs regime.

UK Home Office, Major campaign to fight fraud launched.

US Department of Justice, Three Defendants Convicted At Trial In $7.9 Million COVID-19 Fraud Scheme.

US Department of Justice, Six Men Sentenced for Roles in $20M COVID-19 Relief Fraud Ring.

US Department of Justice, Former CEO Sentenced to Prison for COVID-19 Relief Fraud and Money Laundering.

US Department of State, U.S. Participation in the EU – Sanctions Coordinators Forum.

US Department of the Treasury, Fact Sheet: Treasury Actions to Enhance Financial Transparency and Combat Illicit Finance.

WTW, UK Cyber Insurance Market Update.

Hello, and welcome to episode 144 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. A reasonably busy week this week. On sanctions, changes to various regimes from the UK, including a shift in approach on Syria. On money laundering, MONEYVAL issues a report on Guernsey, and the FATF trails its upcoming plenary. The bribery and corruption news comes from the US with a range of stories, while on fraud, arrests in Europe relating to a multi-million-euro investment fraud. On market abuse, Switzerland has charged an individual with insider dealing, and the FCA in the UK has updated on its approach to cryptoasset, debt solutions, and claims management company promotions. The other financial crime news provides that the EU has given funding to combat wildlife crime, and the Public Accounts Committee in the UK has warned that the estimate of tax evasion in the UK may be higher than official figures. And finally in the round-up of this week’s financial crime news the cybercrime news comes with sanctions against a Russian cybercrime network, and Europol announces arrests in relation to a ransomware group.

A transcript of this podcast is available at www.crimes.financial, with links to the stories.

Hello, and welcome to episode 96 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. It is yet another busy week for financial crime, which is not unexpected in the week of the second anniversary of the invasion of Ukraine. So, there is a range of new and amended sanctions news. On money laundering new, the EU has churned out a new Delegated Regulation, and a major UK bank announces that the Financial Conduct Authority has its AML framework under investigation. In bribery and corruption, there has been an outcome in the trial of the former Chief of Staff to the President of Madagascar. The EU is responsible for the majority of this week’s fraud news, having taken a good deal of action across of broad range of activity. On market abuse, the SEC in the US has charged a man with inside dealing who is alleged to have traded on inside information obtained from listening in on his wife’s meetings. I have also rounded up some of this week’s cyber-attack news. Lots to get through, so let’s crack on.

As usual, I have linked the main stories flagged in the podcast in the description. These are:

Council of the European Union, Information Note: 6713/24.

Department of Justice, U.S. Attorney’s Office announces priority to prosecute white-collar, financial crimes in Alaska.

Department of Justice, U.S. and U.K. Disrupt LockBit Ransomware Variant.

Department of Justice, Anchorage businesswoman charged with fraudulently obtaining and laundering roughly $1M in Covid-19 relief funds.

Department of Justice, Sanctioned Russian Oligarch And Others Indicted For Sanctions Violations And Money Laundering.

Department of Justice, U.S. Attorney Gerard M. Karam Announces Fraud Alert For Covid-19 Cryptocurrency Scam.

European Anti-Fraud Office, OLAF trains Ukrainian anti-fraud authorities.

European Public Prosecutor’s Office, Lithuania: EPPO conducts searches in investigation into misappropriation of funds from BaltCap Infrastructure Fund.

Europol, Law enforcement disrupt world’s biggest ransomware operation.

Europol, Crackdown on multimillion euro VAT fraud involving car sales.

Europol, Over 100 searches and 4 arrests in France, Germany, Italy, Latvia and Malta against financial institution involved in money laundering.

FBI, FBI Cyber Deputy Assistant Director Brett Leatherman’s Remarks at Press Conference Announcing the Disruption of the LockBit Ransomware Group.

Financial Conduct Authority, Guy Flintham pleads guilty to fraud.

Foreign, Commonwealth, and Development Office, UK sanctions heads of Arctic penal colony where Alexei Navalny was killed.

Foreign, Commonwealth, and Development Office, New UK sanctions mark two years since Russia’s illegal invasion of Ukraine.

Foreign, Commonwealth, and Development Office, Policy Paper: Deter, disrupt and demonstrate – UK sanctions in a contested world: UK sanctions strategy.

Lewis Silkin, The Economic Crime and Corporate Transparency Act 2023: first changes set to be introduced.

Lloyds Banking Group plc, Annual Report 2023.

National Crime Agency, International investigation disrupts the world’s most harmful cyber crime group.

National Crime Agency, Former Chief of Staff to Madagascan President convicted of bribery.

National Cyber Security Centre, Protecting PBX from cyber attacks (blog post).

National Cyber Security Centre, Private Branch Exchange (PBX) best practice: Guidance.

Official Journal of the European Union, Commission Delegated Regulation (EU) 2024/595 of 9 November 2023 supplementing Regulation (EU) No 1093/2010.

Office of Financial Sanctions Implementation, Russia Guidance: Guidance for the financial and investment restrictions in Russia (Sanctions) (EU Exit) Regulations 2019.

Office of Financial Sanctions Implementation, Financial Sanctions Notice: Global Human Rights.

Office of Financial Sanctions Implementation, Guidance: Who is subject to financial sanctions in the UK?

Office of Financial Sanctions Implementation, Financial Sanctions Notice: Democratic Republic of the Congo.

Office of Financial Sanctions Implementation, Financial Sanctions Notice: Russia.

Office of Financial Sanctions Implementation, Financial Sanctions Notice: Belarus.

United Nations, Security Council 1533 Sanctions Committee Adds Six Entries to Its Sanctions List.

Office of Financial Sanctions Implementation, General Licence: Payments to Companies House INT/2023/3626884.

Office of Financial Sanctions Implementation, General Licence: Publication Notice General licence – INT/2023/3626884 (Amendment).

Securities and Exchange Commission, SEC Charges Husband of Energy Company Manager with Insider Trading.

UK legislation, The Economic Crime and Corporate Transparency Act 2023 (Financial Penalty) Regulations 2024.

US Department of Health and Human Services, HHS’ Office for Civil Rights Settles Second Ever Ransomware Cyber-Attack.

Hello, and welcome to this week in financial crime. I’m your host, Chris Kirkbride. After a bumper couple of weeks, I’m glad to say that things have eased down in the last week. Actually, the timing has been perfect as I have been off-the-scale busy at work. So, the usual mix of sanctions and money laundering, with a couple of minor bits of fraud, cyber, and bribery. Let's get on with it.

These are the links to the principal documents mentioned in the podcast:

European Commission, Public-private partnership anti-money laundering guidance.

European Commission, Supranational Risk Assessment Report.

Financial Action Task Force, Outcomes FATF Plenary, 20-21 October 2022.

Financial Action Task Force, Revision of R25 and its Interpretive Note – Public Consultation.

Financial Action Task Force, FATF Guidance on Beneficial Ownership (Recommendation 24) - Public Consultation.

HM Treasury, Factsheet: Beneficial Ownership.

Information Commissioner’s Office, ‘Biggest cyber risk is complacency, not hackers’ - UK Information Commissioner issues warning as construction company fined £4.4 million.

Mayor of London, New Cyber Resilience Centre.

Office of Financial Sanctions Implementation, Guidance Annual frozen asset review and reporting form.

Office of Financial Sanctions Implementation, General Licence INT/2022/2305324 and General Licence INT/2022/2307324.

Office of Financial Sanctions Implementation, Legal Fees General Licence INT/2022/2252300.

UK government, Cryptocurrency trading firm shut down after scamming investors.

US Embassy in Moldova, Treasury Targets Corruption and the Kremlin’s Malign Influence Operations in Moldova.

Hello, and welcome to the first episode 141 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. This week has been a quiet week, which in some cases will be due to the collective holding-of-breath following the change of administration in the US. That said, there have been some sanctions designations from the US, and money laundering warnings issued by the regulator in the UK. There is a fine for Danske Bank issued by the Norwegian financial services regulator for market manipulation, and in the UK, the Serious Fraud Office has obtained its first Unexplained Wealth Order. We end this week with a limited amount of cyber news.

A transcript of this podcast is available at www.crimes.financial, with links to the stories.

Hello, and welcome to episode 52 of the Financial Crime Weekly Podcast, I’m your host, Chris Kirkbride. It’s been a bumper week for financial crime this week, with big stories on fraud, money laundering, and especially bribery and anti-corruption. However, this week’s big news in the UK – the publication by HMG of Economic Crime Plan 2 will be the subject of a podcast special coming up mid-week, so look out for that. Let’s make a start on this week’s still bumper edition.

These are the links to the principal documents mentioned in the podcast:

European Bank for Reconstruction and Development, EBRD and ACAMS step up anti-financial crime training in North Africa and Middle East.

European Banking Authority, EBA consults on amendments to Guidelines on risk-based AML/CFT supervision to include crypto-asset service providers.

European Parliament, New EU measures against money laundering and terrorist financing.

European Union Agency for Cybersecurity, Cybersecurity market analysis of the cloud and an updated version of the cybersecurity market analysis framework.

Financial Accountability and Corporate Transparency Coalition, Anti-Corruption Advocates Urge Treasury to Appoint a Permanent Director to Lead the Nation’s Financial Crime Fighters (press release).

Financial Accountability and Corporate Transparency Coalition, Permanent Leadership of the Financial Crimes Enforcement Network (FinCEN).

Financial Crimes Enforcement Network (FinCEN), FinCEN Issues Initial Beneficial Ownership Information Reporting Guidance (press release).

Financial Crimes Enforcement Network (FinCEN), Beneficial Ownership Information Reporting.

Gambling Commission, William Hill Group businesses to pay record £19.2m for failures (press release).

Gambling Commission, WHG (International) Limited Public Statement.

Gambling Commission, Mr Green Limited Public Statement.

Gambling Commission, William Hill Organization Limited Public Statement.

Transparency International, Summit for democracy: opportunity for governments to recommit to anti-corruption.

Transparency International and Others, Cohort on International Cooperation for Anti-Corruption.

UK Government, Government sets out strategy to protect NHS from cyber-attacks (press release).

UK Government, Policy paper: Cyber security strategy for health and social care: 2023 to 2030.

UK Government, OFSI General Licence INT/2023/2824812.

US Department of Justice, CEO of Titanium Blockchain Sentenced for $21M Cryptocurrency Fraud Scheme.

US Department of Justice, Justice Department Recovers Over $53M in Profits Obtained from Corruption in the Nigerian Oil Industry.

US Department of Justice, Former Puerto Rico Mayor Convicted of Accepting Bribes.

US Department of Justice, Correctional Officer Pleads Guilty to Receiving Bribes for Smuggling Drugs into D.C. Jail.

US Department of Justice, Former Law Firm Partner Arrested For Bankruptcy Fraud.

US Department of State, United States Imposes Sanctions on Iranian Military Procurement Network.

US Department of State, Summit for Democracy 2023.

US Department of State, Summit for Democracy Commitment on Beneficial Ownership and Misuse of Legal Persons.

US Department of the Treasury, Treasury Continues to Sanction Procurement Networks for Iran’s UAV and Weapons Programs.

US Department of the Treasury, Treasury Targets Belarusian State-Owned Enterprises, Government Officials, and Lukashenka’s Aircraft.

US Department of the Treasury, Treasury Sanctions Syrian Regime and Lebanese Actors Involved in Illicit Drug Production and Trafficking.

US Department of the Treasury, Remarks by Secretary Janet L. Yellen on Anti-Corruption as a Cornerstone of a Fair, Accountable, and Democratic Economy at the Summit for Democracy.

US Securities and Exchange Commission, SEC Charges Crypto Entrepreneur Justin Sun and his Companies for Fraud and Other Securities Law Violations.

Hello, and welcome to episode 103 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. The busy weeks for financial crime continue this week. Some good news on sanctions from the EU for two designated oligarchs, as well as research on the impact of sanctions on the Russian economy. There is a little money laundering news from the FATF and comments from Janet Yellen following a bilateral meeting between the US and China. From the US, there is interesting Covid-19 news with updates on fraud enforcement, together with a staggering story from Vietnam. However, the week’s big news comes from cyber with major reports from the IMF and the UK government on the threat posed by cyber to the global economy, and the results of a cyber survey, respectively. Let’s crack on.

As usual, I have linked the main stories flagged in the podcast in the description. These are:

Adyen, Adyen finds the global retail sector lost $429 billion to payments fraud last year.

Carnegie Endowment for International Peace, Western Sanctions on Russia Should Be More Pragmatic and Less Punitive.

Carnegie Mellon University, Leveraging Human Psychology to Thwart Cyber Attacks.

Center for European Policy Analysis, Russia Squeezed as Sanctions Bite.

Court of Justice of the European Union, War in Ukraine: the General Court annuls the inclusion of Petr Aven and Mikhail Fridman on the lists of persons subject to restrictive measures between February 2022 and March 2023 (press release).

Court of Justice of the European Union, Fridman v Council (application and judgment).

Court of Justice of the European Union, Aven v Council (application and judgment).

Department of Justice, COVID-19 Fraud Enforcement Task Force Releases 2024 Report.

Department of Justice, Plymouth Man Arrested for Paycheck Protection Program Fraud.

Department of Justice, Cincinnati woman sentenced to 7 years in prison for crimes related to COVID-19 relief fraud.

Financial Action Task Force, Private Sector Consultative Forum, April 2024.

International Monetary Fund, Global Financial Stability Report, April 2024.

International Monetary Fund, Rising Cyber Threats Pose Serious Concerns for Financial Stability.

Office of Financial Sanctions Implementation, General Licence – Active Denizcilik and Beks Ships Transit to Port and Wind Down INT/2024/4576632.

The White House, FACT SHEET: President Biden’s Sweeping Proposals to Crack Down on Pandemic Fraud and Help Victims Recover Introduced in Congress.

UK Government, Cyber security breaches survey 2024.

US Department of the Treasury, READOUT: Secretary of the Treasury Janet L. Yellen’s Bilateral Meetings with Vice Premier He Lifeng of the People’s Republic of China in Guangzhou, China.

US Department of the Treasury, Statement from Secretary of the Treasury Janet L. Yellen on Announcement of New U.S.-China Initiatives Following Meeting with Vice Premier He Lifeng of the People’s Republic of China.

Hello, and welcome to episode 151 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. After a few quiet weeks, the news has increased this week. On sanctions, new designations aimed at the usual targets in the US, as well as enforcement news. The UK has amended some licences, as well as having issued new designations. On money laundering AUSTRAC has made a number of updates to its website, and Transparency International reflects on anti-money laundering reform in Switzerland. On fraud news, Stop Scams UK has issued a joint statement, while the APPG on Fair Banking has published a report on APP fraud. On bribery and corruption news, reports on the scale of hospitality on offer to those around government, while departures from the SEC in the US hit the news wires. In relation to other financial crime news, a Business Plan from the Serious Fraud Office, and the National Crime Agency has published its annual plan. There is also a round-up of cybercrime news.

A transcript of this podcast, with links to the stories, will be available by Monday at www.crimes.financial.

Hello, and welcome to this week in financial crime. I’m your host, Chris Kirkbride. It’s been another busy one this week, so best to crack on with our round-up of all things financial crime. We’ll look at…..

●    Sanctions, once again, top the list of stories, with more stories relating to actions being taken, together with proposals for further action, across the international community following the Russian invasion of Ukraine

●    Money Laundering News

●    Some interesting possible fraud developments

●    Upcoming Special Edition of the Financial Crime Weekly

Hello, and welcome to episode 132 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. Another relatively quiet week overall, and I can assure you that is not a complaint. On sanctions, licensing changes in the UK, in addition to further designations, the US targets third-countries aiding Russia in its military action in Ukraine, while the UN raises the issue of sanctions-related justice. On bribery and corruption, the National Anti-Corruption Commission will think again about the robodebt references made to it, while on fraud, the SFO has made changes to fraud reporting. This week’s financial crime news ends with a round-up of cybercrime news, where the European Union Agency for Criminal Justice Cooperation has announced major action against malware attackers.

A transcript of this podcast is available at www.crimes.financial, with links to the stories.

Hello, and welcome to this week in financial crime. I’m your host, Chris Kirkbride. A reasonably quiet week this week. Some decent money laundering stories, especially around the publication in the UK of the Economic Crime and Corporate Transparency Bill, some updated sanctions news, and a little bit on fraud. Hope not to detain you unduly today.

These are the links to the principal documents mentioned in the podcast:

EU Court of Auditors Seminar Recording, New EU AML/CTF supervision model: expectations vs feasibility

Financial Conduct Authority, Scams offering to 'write off debts' targeting UK consumers

LSE Blog, More questions than answers? The EU’s new AntiMoney Laundering Authority

Office of Foreign Assets Control (OFAC), Treasury Targets Additional Facilitators of Russia’s Aggression in Ukraine

UK government, Economic Crime and Corporate Transparency Bill

Updated Russia Guidance, Guidance for the financial and investment restrictions in Russia (Sanctions) (EU Exit) Regulations 2019 

Hello, and welcome to this week in financial crime. I’m your host, Chris Kirkbride. It’s been a quiet week this week, but still the usual mix of sanctions, fraud, money laundering, and another crypto inquiry.

Hello, and welcome to episode 72 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. It’s been a middling week this week on the financial crime front. Quite a bit of sanctions activity, with news of another challenge to designation in the UK, and more sanctions from the US relating to the supply of arms to the Russian war machine. On fraud, a bit of legacy news from the US and the global financial crisis – remember that? – as well as news that fraudsters are impersonating the FATF. There’s also a bit on money laundering, bribery, and a round-up of cyber-attack news this week.

As usual, I have linked the main stories flagged in the podcast in the description. These are:

England and Wales High Court (Administrative Court), Shvidler v Secretary of State for Foreign, Commonwealth and Development Affairs [2023] EWHC 2121 (Admin).

Fenergo, It's Time for a PEP Talk: Managing PEPs and Risk in the Fight Against Financial Crime.

Financial Action Task Force, Misuse of FATF's name by fraudulent services requesting fees for the verification of the origin of funds.

Financial Conduct Authority, We invite Politically Exposed Persons to share their experiences (press release).

Financial Conduct Authority, FG17/6: The treatment of politically exposed persons for anti-money laundering purposes.

Financial Conduct Authority, PEPs letter (dated 14/08/2023).

Financial Conduct Authority, FCA sets out expectations for UK cryptoasset businesses complying with the Travel Rule.

Financial Times, The time for instituting a new global corruption court is now.

Gemfields, Principal Risks and Uncertainties document.

Interpol, Cybercrime: 14 arrests, thousands of illicit cyber networks disrupted in Africa operation.

Joint Money Laundering Steering Group, Consultation – Cryptoasset transfers.

National Crime Agency, Madagascan President’s Chief of Staff charged with bribery.

Office of Financial Sanctions Implementation, Russia Financial Sanctions Notice (17/08/2023).

Office of Financial Sanctions Implementation, Russia Regulations: Who is subject to financial sanctions in the UK?

Office of Foreign Assets Control, Treasury Sanctions Entities Tied to Arms Deals Between North Korea and Russia.

Office of Foreign Assets Control, Treasury Sanctions Two Syria-Based Militias Responsible for Serious Human Rights Abuses in Northern Syria.

UK Financial Intelligence Unit, SARs in Action (Issue 21).

US Department of Justice, Former Special Agent in Charge of the New York FBI Counterintelligence Division Pleads Guilty to Conspiring to Violate U.S. Sanctions on Russia.

US Department of Justice, Metro Atlanta man charged with laundering funds from COVID-19 unemployment relief and submitting fraudulent EIDL loan application.

US Department of Justice, UBS Agrees to Pay $1.435 Billion for Fraud in the Sale of Residential Mortgage-Backed Securities.

Hello, and welcome to episode 147 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. Once more this week, we have seen an uptick in financial crime news. On sanctions, broad changes to the UK sanctions regime, while the US has focused its sanctions activity on the Houthis. On money laundering, more FATF Consultations and, in the US, it has been announced that the beneficial ownership elements of the Corporate Transparency Act will not be enforced in some circumstances. On fraud news, the UK has warned of a risk to younger people from fraudsters operating in the rental market, while in other financial crime news, the Financial Conduct Authority has announced the sentencing of an unlawful operator of crypto ATMs. And finally, in the round-up of cybercrime news, the US has been active against Chinese cyber criminals, imposing sanctions, announcing rewards for information, and unsealing indictments.

A transcript of this podcast, with links to the stories, is available at www.crimes.financial.

Hello, and welcome to episode 90 of the Financial Crime Weekly Podcast, which is the first of 2024, I’m Chris Kirkbride. A nice easy start to the year for this one. Too much unhealthy speculation, so let’s just stick to the facts. Presumably the year will start to warm up from next week.

As usual, I have linked the main stories flagged in the podcast in the description. These are:

Council of the European Union, Russian war of aggression against Ukraine: Council adds 1 person and 1 entity to EU sanctions list.

Gambling Commission, £6m fine for online operator Gamesys.

Gambling Commission, Gamesys Operations Limited: Notice.

Home Office, Guidance on money laundering reporting obligations in relation to the DAML exemption provisions introduced by the Economic Crime and Corporate Transparency Act 2023.

Lieber Institute: West Point, Recapping “Cyber in War: Lessons from the Russia-Ukraine Conflict”.

Office of Financial Sanctions Implementation, Financial Sanctions Notice: ISIL (Da’esh) and Al-Qaida.

Office of Financial Sanctions Implementation, Financial Sanctions Notice: ISIL (Da’esh) and Al-Qaida.

Office of Financial Sanctions Implementation, Financial Sanctions Notice: Democratic People’s Republic of Korea.

Office of Financial Sanctions Implementation, Who is subject to financial sanctions in the UK? (Consolidated List).

UK Parliament, Treatment of Politically Exposed Persons under the Money Laundering Regulations, Statement made on 14 December 2023, Statement UIN HLWS129 (Baroness Vere of Norbiton).

UK Parliament, Treatment of Politically Exposed Persons under the Money Laundering Regulations, Statement made on 14 December 2023, Statement UIN HCWS134 (Bin Afolami).

US Department of Justice, Charlotte Man Is Sentenced To 10 Years In Prison For COVID-19 Fraud, Drug Distribution, And Illegal Firearms Possession.

US Department of Justice, Chicago Man Sentenced to Five and a Half Years in Federal Prison for $2.9 Million Covid-Relief Fraud.

US Department of Justice, eBay Inc. to Pay $3 Million in Connection with Corporate Cyberstalking Campaign Targeting Massachusetts Couple.

In this special edition of the Financial Crime Weekly we take a look at three recently published documents which overlap on the issues of interest to this podcast in the UK. These are:

First, the NCA’s Annual Plan 2022-2023;

Secondly, the All-party Parliamentary Group on Anti-Corruption and Responsible Tax ‘Economic Crime Manifesto’; and,

Thirdly, the UK Parliament Committee on Public Accounts First Report of the 2022-2023 parliamentary session.

All have a bearing on current issues of fraud and financial crime in the United Kingdom and, to a degree, might indicate some form of direction of travel for the law and policy in this area.

In this Special Edition of the Financial Crime Weekly Podcast we look at the corporate offence of failure to prevent bribery under section 7, Bribery Act 2010 which has been in the news recently following the Coca-Cola bribery scandal - where Coca Cola was the victim of bribery-induced 'fresh air' contracts - but also more recently with the charges brought against Glencore for alleged bribery in the conduct of its oil business operations.

Additionally, the podcast also looks at the role which Deferred Prosecution Agreements have in this area and how they can be used as an alternative to prosecution by the relevant prosecuting authorities. The podcast explains their operation and offers reflections on the advantages and disadvantages of their use.

Hello, and welcome to this week in financial crime. I’m your host, Chris Kirkbride. A good deal spinning around the world of financial crime this week. Some sanctions news, more on corruption from TI, as well as money laundering and fraud. Oh, and cyber, cyber, everywhere, so let’s crack on.

These are the links to the principal documents mentioned in the podcast:

Council of the European Union, Russia: EU prolongs economic sanctions over Russia’s military aggression against Ukraine.

European Public Prosecutor’s Office, Lithuania: EPPO uncovers €580 000 fraud, EU funds fully recovered.

Financial Action Task Force, FATF Annual Report 2021-2022.

National Crime Agency, New SAR Portal FAQs.

National Crime Agency, Cyber Choices game.

Office of Financial Sanctions Implementation, OFSI General Licences (updated).

Office of Financial Sanctions Implementation, Russian Oil Services ban (updated).

Office of Financial Sanctions Implementation, Who is subject to financial sanctions in the UK? (updated).

Pinsent Masons, Data suggests Russia-Ukraine conflict impact on cyber threats.

Serious Fraud Office, Serious Fraud Office secures three convictions in $500 million trade finance fraud.

Transparency International, Corruption Perceptions Index 2022.

UK government, Corruption crackdown under new government anti-money laundering laws.

UK Insolvency Service, Birmingham scaffolder given 11-year ban for abuse of Covid-19 financial support.

UK Insolvency Service, Postmasters impacted by Horizon who may have been made bankrupt.

UK Parliament, Lords scrutinises Economic Crime and Corporate Transparency Bill.

US Department of the Treasury Office of Foreign Assets Control, Treasury Targets Global Sanctions Evasion Network Supporting Russia’s Military-Industrial Complex.

US Government Accountability Office, Emergency Relief Funds: Significant Improvements Are Needed to Address Fraud and Improper Payments.

Hello, and welcome to this week in financial crime. I’m your host, Chris Kirkbride. It’s been another busy one this week, so best to crack on with our round-up of all things financial crime. We’ll look at…..

●    Some sanctions news this week, though the news there is becoming a real trickle now, but at least one part is of genuine interest in terms of its wider potential to develop the law

●    Quite a lot of money laundering news this week, with the FATF being particularly active

●    A follow-up on a fraud story from two weeks’ ago

Hello, and welcome to episode 120 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. On sanctions this week, there is the typical range of designations and updates across the principal sanctions-imposing bodies. On bribery and corruption, more on the ‘tuna bonds’ case only this time from the US with a conviction in a criminal action. The money laundering news comes in the shape of output from the Counter ISIS Finance Group. On fraud, from the US action against bank fraudsters, and from the EU, action against investment scammers. The National Crime Agency in the UK has announced the outcome of its action against the wife of former Azerbaijan banker, Jahangir Hajiyev, and news of a possible massive cyber breach in the US.

As usual, I have linked the main stories flagged in the podcast in the description. These are:

Attorney-General’s Department, 2024 Australian Dialogue on Bribery and Corruption.

BitcoinBlog.de, FATF: Cryptocurrencies continue to be used for terrorism financing.

Council of the European Union, Belarus: EU lists further 28 individuals for participation in internal repression.

Department for Education, Policy paper: DfE counter-fraud strategy overview: 2024 to 2027.

Department of Justice, Six people charged in bank fraud scheme involving an insider sharing account information that caused more than $345,000 in theft.

Department of Justice, Six Members of Transnational Fraud Network Indicted for Scheme to Steal Millions from American Consumers’ Bank Accounts.

Department of Justice, Former Finance Minister of Mozambique Convicted of $2B Fraud and Money Laundering Scheme.

Department of State, Reinforcing Sanctions on Former Paraguayan President Horacio Cartes.

Department of the Treasury, Counter ISIS Finance Group Leaders Issue Joint Statement.

Eurojust, Financial scammers detained following actions coordinated by Eurojust.

Europol, Corrupt Spanish lawyer arrested for €4.5 million fishery project bribe in Equatorial Guinea.

Financial Action Task Force, Targeted Update on Implementation of the FATF Standards on Virtual Assets and Virtual Asset Service Providers.

Information Commissioner’s Office, Provisional decision to impose £6m fine on software provider following 2022 ransomware attack that disrupted NHS and social care services.

Insolvency Service, Bedfordshire construction contractor banned as company director after Covid loan abuse.

National Crime Agency, Luxury properties forfeited after six year NCA investigation.

Norton Rose Fulbright, Financial Crime Spotlight: Money Laundering Controls in the Art Market.

Norton Rose Fulbright, Financial Crime Spotlight: Money Laundering Controls in the Gambling Sector.

Office of Financial Sanctions Implementation, General Licence: Payments to Local Authorities INT/2023/3781228.

Office of Financial Sanctions Implementation, General Licence – East-West United Bank – Insolvency related payments and activities INT/2024/5028385.

Office of Financial Sanctions Implementation, General Licence: Permitted Payments to UK Insurance Companies INT/2022/2009156.

Office of Financial Sanctions Implementation, Financial Sanctions Notice: Belarus.

Office of Foreign Assets Control, Treasury Designates Tobacco Company for Supporting Paraguay’s Sanctioned Former President.

Pinsent Masons, ‘Failure to prevent bribery’ offence will soon take effect in Australia.

Royal United Services Institute, What’s the Point of the Financial Action Task Force Standards?

Spotlight on Corruption, NCA forfeits over £17 million in luxury properties from first-ever McMafia order.

Student Loan Company, SLC Economic Crime Unit Statement of Intent.

Transparency International, Transparency International UK welcomes forfeiture of millions of pounds of assets from Azerbaijan banker, Jahangir Hajiyev.

UK Financial Intelligence Unit, SARs Reporter Booklet August 2024.

Hello, and welcome to episode 136 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. On sanctions, new designations from the UK, EU and US. On money laundering news, AUSTRAC has welcomed the new anti-money laundering law in Australia, while on bribery and corruption news, GRECO has updated on Moldova’s progress in combatting corruption. On market abuse, the SEC in the US has reported on the effectiveness of its enforcement action, while in the UK the FCA has issued fines for market abuse offences. SLAPPs are once more the focus of other financial crime news, while the UK government has warned of the cyber threat from Russia.

A transcript of this podcast is available at www.crimes.financial, with links to the stories.

Hello, and welcome to episode 119 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. There has been an unusual uptick, certainly for the summer months, in financial crime news this week. On sanctions this week, the NCA secures its first sanctions-related forfeiture, and the EU and US have added to their designations. On bribery and corruption, the SFO in the UK has announced charges against five former executives of Glencore, and the High Court has some tough words regarding the behaviour of professionals and institutions in the ‘tuna bond’ action brought by Mozambique. On fraud news, there’s more Covid-19 recovery fund abuse from the US, and the imprisonment of a tech scammer. There is also a decent amount of market abuse news from the SEC in the US, and the Securities and Futures Commission in Hong Kong, and in other news, the NCA in the UK has announced a new data sharing scheme and the SFO has published its annual report and accounts. There is also a round-up of the cyber-attack news this week.

As usual, I have linked the main stories flagged in the podcast in the description. These are:

Cayman Islands, Beneficial Ownership Transparency Act 2023.

Commodities and Futures Trading Commission’s Office of Customer Education and Outreach, CFTC Warns Customers to Watch for Follow-on Frauds.

Council of the European Union, Sanctions against terrorism: Council renews the EU Terrorist List and designates a new entity.

Department of Justice, Caledonia man sentenced for COVID loan fraud.

Department of Justice, KC Woman Pleads Guilty to $900,000 Covid Fraud Scheme.

Department of Justice, United States v. Andrew Left.

Department of Justice, Leader Of Tech Support Fraud Scheme Sentenced To Seven Years In Prison.

Department of Justice, Deputy Attorney General Lisa Monaco Delivers Remarks on New Corporate Whistleblower Awards Pilot Program.

FinCEN, FinCEN Issues Notice to Financial Institution Customers on Beneficial Ownership Information Requirements.

FinCEN, Notice to Customers: Beneficial Ownership Information Reference Guide.

Foreign, Commonwealth and Development Office, The UK Sanctions List: Search Function.

Information Commissioner’s Office, Reprimand: The Electoral Commission.

National Crime Agency, NCA recovers £780,000 in the first UK forfeiture of sanctioned funds.

National Crime Agency, Ground breaking public private partnership launched to identify criminality using banking data.

National Crime Agency, Cross-System Professional Enablers Strategy 2024-2026.

National Crime Agency, NCA shuts down major fraud platform responsible for 1.8 million scam calls.

Ocorian, Cayman Islands modernises beneficial ownership regime to align with global standards.

Office of Financial Sanctions Implementation, General Licence – Continuation of Business of Evraz Plc’s North American Subsidiaries: INT/2022/1710676.

Office of Financial Sanctions Implementation, Financial Sanctions Notice: Yemen.

Office of Financial Sanctions Implementation, Guidance: OFSI General licence INT/2024/4919848.

Office of Foreign Assets Control, Treasury Targets Iranian Missile and UAV Procurement Facilitators.

Office of Foreign Assets Control, Treasury Targets Houthi Weapons Procurement Networks.

Securities and Exchange Commission, SEC Charges Andrew Left and Citron Capital for $20 Million Fraud Scheme.

Securities and Exchange Commission, SEC Charges Founder of Social Media Company “IRL” with $170 Million Fraud.

Securities and Futures Commission of Hong Kong, Former banker ordered to disgorge $3 million illegal gains from insider dealing.

Serious Fraud Office, Annual Report & Accounts 2023-24 (press release).

Serious Fraud Office, Annual Report and Accounts 2023-2024.

Serious Fraud Office, SFO charges five former Glencore employees.

Spotlight on Corruption, New report finds UK’s enforcement of sanctions is “all bark and no bite” (press release).

Spotlight on Corruption, All Bark and No Bite: Taking Stock of the UK’s Enforcement of Sanctions.

UK government, National Crime Agency main estimate memorandum 2024 to 2025.

UK judgments, The Republic of Mozambique v Credit Suisse International and Others [2024] EWHC 1957 (Comm).

Hello, and welcome to episode 57 of the Financial Crime Weekly Podcast, I’m your host, Chris Kirkbride. It’s been a busy week this week, with plenty on fraud, bribery, and cyber-attacks, with some bits and pieces on other things. Let’s crack on.

As usual, I have linked the main stories flagged in the podcast in the description. These are:

Bank of England and Prudential Regulation Authority, The Bank of England consults on its approach to Enforcement policies to provide greater clarity on the scope of its powers and processes.

Bank of England and Prudential Regulation Authority, CP9/23 – The Bank of England’s approach to enforcement: proposed changes and clarifications.

Commodity Futures Trading Commission, Federal Court Orders South African CEO to Pay Over $3.4 Billion for Forex Fraud.

Council of the European Union, Corruption as an obstacle to development: Council approves conclusions (press release).

Council of the European Union, Corruption as an obstacle to development - Council conclusions (4 May 2023).

Council of the European Union, Foreign Affairs Council (Development), 4 May 2023.

European Commission, Anti-corruption: Stronger rules to fight corruption in the EU and worldwide.

European Commission, Questions and Answers: Stronger rules to fight corruption in the EU and worldwide.

European Union External Action: Diplomatic Service of the European Union, Anti-corruption package: Press remarks by High Representative/Vice-President Josep Borrell at the press conference.

Lloyd’s Market Association, Publication of Oil Price Cap Endorsements for Political Risk and Credit Business.

Office for Professional Body Anti-Money Laundering Supervision (OPBAS), Anti-Money Laundering Supervision by the Legal and Accountancy Professional Body Supervisors: Progress and themes from our 2022/23 supervisory work.

Spotlight on Corruption, Now we need the other fraud strategy (blogpost).

Techtarget, Studies show ransomware has already caused patient deaths.

The Guardian, Facebook and WhatsApp owner urged by UK bank to act on fraud as scams soar.

UK Financial Conduct Authority, FCA continues action against unregistered crypto ATMs across the UK.

UK Financial Conduct Authority, FCA sets out steps to improve whistleblower confidence (press release).

UK Financial Conduct Authority, Whistleblowing qualitative assessment survey 2022.

UK Financial Intelligence Unit and the National Crime Agency, Suspicious Activity Report (SAR) Glossary Codes and Reporting Routes.

UK Food Standards Agency, Chief Executive’s message to stakeholders - Update on our meat fraud investigation.

UK government, New blueprint to protect public from scammers (news story).

UK government, What the Prime Minister’s Fraud Strategy means for you (press release).

UK government, Fraud Strategy: stopping scams and protecting the public (policy paper).

UK Home Office, Economic Crime Survey 2020.

UK Home Office, Research and analysis: Economic Crime Survey 2020.

UK Insolvency Service, London businessman convicted for Bounce Back Loan fraud.

UK Office of Financial Sanctions Implementation, General Licence INT/2022/1710676.

UK Office of Financial Sanctions Implementation, General Licence INT/2023/2954852.

US Department of Justice, Houston man sent to prison for $3M PPP loan fraud scheme.

US Department of Justice, Man Sentenced for $1.1M COVID-19 Fraud Scheme.

US Department of Justice, Alaska Couple Charged in $700,000 Investment Fraud Scheme Based on Fictitious Alaska Marijuana “Bud and Breakfast”.

US Department of Justice, San Diego Man Sentenced to Prison for Tax Evasion, Fraud and Failing to Appear for his 2001 Sentencing Hearing.

US Department of Justice, FBI Disrupts Virtual Currency Exchanges Used To Facilitate Criminal Activity.

UK Prudential Regulation Authority, Business Plan 2023/24.

US Securities and Exchange Commission, SEC Issues Largest-Ever Whistleblower Award.

Welsh government, New plan to help protect Wales from cyber-attacks and grow cyber sector.

Hello, and welcome to this week in financial crime. I’m your host, Chris Kirkbride. It’s been a quiet one this week, but let's crack on with our round-up of all things financial crime. We’ll look at…..

●    Sanctions, once again, top the list of stories, with more stories relating to actions being taken, together with proposals for further action, across the international community following the Russian invasion of Ukraine

●    Moves to combat benefit fraud

●    Bribery news, old and new

●    Upcoming Special Edition of the Financial Crime Weekly

Hello, and welcome to this week in financial crime. I’m your host, Chris Kirkbride. Actually, once again it’s been quite a varied week this week with lots of interesting stories, and one very interesting fraud announcement next week, if what’s doing the rounds on the news wires is anything to go by. Anyway, what will we be taking a look at? Well, there are some bits on sanctions – some useful Q&As – and a decent range of money laundering stories, including some quiet time for HSBC with an announcement by the US Federal Reserve. On fraud, some stuff coming out of the US on avoiding Social Media scams and updates to its Whistle-blower rules. In the UK there is a Call for Evidence on Unauthorised Account access and misuse of personal data. Finally, I take a brief look at the announcement by the dual regulators in the UK on the investigation into HBOS plc management following the global financial crisis. Yup, 15 years later and we’re still wittering on about it.

These are the links to the principal documents mentioned in the podcast: 

European Banking Authority, Report on the Function of the AML/CFT supervisory colleges in the European Union, together with the Press Release.

Law Society Sanctions and Russia Q&As from its Practice Advice Service

OFSI Blog, Reporting to OFSI: what do I need to do?

OFSI, UK Financial Sanctions Updated General Guidance for financial sanctions under the Sanctions and Anti-Money Laundering Act 2018

UK Home Office, Call for Information: Unauthorised Access to Online Accounts and Personal Data

US Department of Justice Press Release on Warrant of Seizure on PJSC LUKOIL aeroplane, and official court document

US Securities and Exchange Commission, Office of Investor Education and Advocacy, Social Media and Investment Fraud

Hello, and welcome to episode 100 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. It has been a relatively quiet week this week, which is always good for me. Sanctions designations from the US, some news from the OECD relating to Luxembourg and its progress in implementing the OECD’s anti-bribery convention, and the Financial Conduct Authority in the UK has published its Business Plan for 2024/25. I also round-up the limited cyber-attack news this week. Let’s crack on.

As usual, I have linked the main stories flagged in the podcast in the description. These are:

Financial Conduct Authority, Business Plan 2024/25.

National Crime Agency, SARs in Action: Issue 25.

National Cyber Security Centre, Responding to a cyber incident – a guide for CEOs.

Office of Foreign Assets Control, Treasury Targets Vessel Shipping Iranian Commodities for Houthis and Qods Force.

Office of Foreign Assets Control, Treasury Sanctions Actors Supporting Kremlin-Directed Malign Influence Efforts.

Office of Foreign Assets Control, Treasury Sanctions Nicaragua’s Attorney General.

Organisation for Economic Cooperation and Development, Luxembourg should build upon recent achievements in the fight against foreign bribery by substantially strengthening enforcement efforts and resources.

Organisation for Economic Cooperation and Development, Monitoring the OECD Anti-Bribery Convention in Sweden: Call for contributions.

Public Sector Fraud Authority, Government Counter Fraud Functional Strategy 2024-2027.

Transparency International, 12 Countries to Watch on the 2023 Corruption Perceptions Index.

UK Government, Cyber security longitudinal survey: wave three results.

US Department of State, Sanctions on Nicaragua’s Attorney General.

US Embassy and Consulates in Russia, Imposing Sanctions on Actors Supporting Kremlin-Directed Disinformation Efforts.

Hello, and welcome to episode 130 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. Sanctions news has taken centre-stage this week, with the US issuing new designations across the range of usual suspects, while the UK has focussed on human rights abuse sanctions and the Russian oil tanker shadow fleet. On money laundering, the FATF may black list Russia, and has updated its criteria for ‘grey listing’. On bribery and anti-corruption Raytheon has agreed a DPA for fraud and breaches of the FCPA. On market abuse, ESMA has issued a consolidated report on sanctions and measures imposed by National Competent Authorities. There is also a brief round-up of cybercrime news this week.

A transcript of this podcast is available at www.crimes.financial, with links to the stories.

Hello, and welcome to episode 56 of the Financial Crime Weekly Podcast, I’m your host, Chris Kirkbride. It’s been a slightly quieter week for financial crime this week, which is always good for someone who is at their busiest point in the academic year. Still, there are stories on sanctions, where we have seen a little more activity, money laundering, and interesting themes coming out of coordinated cyber-attacks. Let’s crack on.

As usual, I have linked the main stories flagged in the podcast in the description. These are:

British American Tobacco, BAT reaches agreement with U.S. Department of Justice (DOJ) and U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC).

Insuring Cyber Podcast, Episode 60.

The Guardian, UK company set up in name of top Putin official in Ukraine.

The Guardian, UK ‘should impose sanctions on human rights abusers in Sudan’ – report.

UK Companies House, Grainholding Ltd.

UK Financial Conduct Authority, Financial watchdog puts banks on alert in fight against money laundering via the Post Office.

UK Financial Conduct Authority, Regulation of Digital Assets in the UK.

UK Government, UK and international partners announce new sanctions on Iranian regime (press release).

UK Government, Guidance: Who is subject to financial sanctions in the UK?

UK Government, Russia sanctions: guidance.

UK Government, Foreign, Commonwealth & Development Office, The UK Sanctions List: Guidance.

UK Government, Office of Financial Sanctions Implementation, Financial sanctions, ISIL (Da'esh) and Al-Qaida organisations.

UK Government, Office of Financial Sanctions Implementation, Financial Sanctions Notice: Iran (Human Rights).

UK National Crime Agency, Suspicious Activity Reports.

UK National Crime Agency, New SAR Portal - How to Register and Sign in (YouTube).

UK National Crime Agency, How to Submit a SAR using the new SAR Portal (YouTube).

UK National Crime Agency, Money laundering cash couriers smuggled £100 million in suitcases.

US Department of Justice, United States Obtains $629 Million Settlement with British American Tobacco to Resolve Illegal Sales to North Korea, Charges Facilitators in Illicit Tobacco Trade.

US Department of Justice, New York Attorney Pleads Guilty To Conspiring To Commit Money Laundering To Promote Sanctions Violations By Associate Of Sanctioned Russian Oligarch.

US Department of Justice, Former Public Official and California Contractor Sentenced for Bid Rigging and Bribery.

US Department of Justice, Former Arkansas State Senator Sentenced for Role in Bribery Scheme.

US Department of Justice, Twelfth Defendant Charged in International Money Laundering Conspiracy Apprehended in New York.

US Department of Justice, North Korean Foreign Trade Bank Representative Charged in Crypto Laundering Conspiracies.

US Department of the Treasury Office of Foreign Assets Control, Treasury Sanctions Officials of Iranian Intelligence Agency Responsible for Detention of U.S. Nationals in Iran.

US Department of the Treasury Office of Foreign Assets Control, Treasury Sanctions Senior Iranian Officials Overseeing Violent Protest Suppression and Censorship.

Hello, and welcome to episode 73 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. It’s been a quiet week this week on the financial crime front. The bulk of this week’s news comes from sanctions and bribery and corruption. Of course, I’ll also round up this week’s cyber-attack news.

As usual, I have linked the main stories flagged in the podcast in the description. These are:

Government of Canada, Canada announces sanctions against officials of justice and security sectors.

International Monetary Fund, Côte d'Ivoire: Report on Observance of Standards and Codes—FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism.

National Crime Agency, Ex-Nigerian politician charged in corruption case.

National Cyber Security Centre, Cyber Incident Response.

Office of Financial Sanctions Implementation, Financial Sanctions Notice: Democratic People’s Republic of Korea.

Office of Financial Sanctions Implementation, General Licence: Continuation of Business and Basic Needs for Telecommunications Services and News Media Services (INT/2022/1875276).

Office of Financial Sanctions Implementation, General Licence: GTLK Companies and their Subsidiaries – Insolvency related payments and activities (INT/2023/3263556).

Office of Financial Sanctions Implementation, Guidance: Financial sanctions webinars and events.

Office of Foreign Assets Control, Treasury Designates Roman Semenov, Co-Founder of Sanctioned Virtual Currency Mixer Tornado Cash.

Ofgem, Ofgem fines Morgan Stanley & Co. International plc (MSIP) over £5.4m for failure to record and retain electronic trading communications.

Serious Fraud Office, ENRC Ltd.

Serious Fraud Office, Rio Tinto Group.

Transparency International, Legitimate Interest 2.0: Enabling Journalists and Activists to Follow the Money in the European Union.

UK Finance, How Payments Play a Critical Role in Reducing Fraud for Merchants.

UK Finance, London Criminal Gang Sentenced for £130,000 Scam.

US Department of Justice, Justice Department Announces Results of Nationwide COVID-19 Fraud Enforcement Action (press release).

US Department of Justice, Justice Department Announces Results of Nationwide COVID-19 Fraud Enforcement Action (video).

US Department of Justice, Houston oil trader charged in international bribery scheme.

US State Department, Imposing Sanctions and Visa Restrictions on Individuals and Entities Russia to Promote Accountability for Forced Transfer and Deportation of Children During Russia’s Illegal War Against Ukraine.

US State Department, U.S. Sanctions Individuals Contributing to the Recent Escalation of Conflict in the DRC.

Hello, and welcome to episode 101 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. It has been a busy week this week. There is a broad range of sanctions news this week, with coordinated action relating to the Chinese cyber security breaches in the US and UK. On bribery and corruption, lots from the OECD. The money laundering news brings updates from the FATF on Australia and the US concerning their actions following their last MERs. There is also market abuse and cyber news. Let’s crack on.

As usual, I have linked the main stories flagged in the podcast in the description. These are:

Council of the European Union, Death of Alexei Navalny: EU sanctions 33 individuals and two entities under its Global Human Rights Sanctions Regime.

Cybersecurity and Infrastructure Security Agency, CISA, FBI, and MS-ISAC Release Update to Joint Guidance on Distributed Denial-of-Service Techniques.

Cybersecurity and Infrastructure Security Agency, Understanding and Responding to Distributed Denial-Of-Service Attacks.

Department of the Treasury, U.S. Department of the Treasury Releases Report on Managing Artificial Intelligence-Specific Cybersecurity Risks in the Financial Sector (press release).

Department of the Treasury, Managing Artificial Intelligence-Specific Cybersecurity Risks in the Financial Services Sector.

Financial Action Task Force, Australia's progress in strengthening measures to tackle money laundering and terrorist financing.

Financial Action Task Force, United States' progress in strengthening measures to tackle money laundering and terrorist financing.

Financial Conduct Authority, FCA warns firms and finfluencers to keep their social media ads lawful.

Financial Conduct Authority, Finalised Guidance FG24/1: Finalised guidance on financial promotions on social media.

Foreign, Commonwealth & Development Office, UK holds China state-affiliated organisations and individuals responsible for malicious cyber activity.

National Crime Agency, The SAR Portal FAQs.

National Crime Agency, The SAR Portal Overview.

National Crime Agency, The SAR Portal: How to register provides guidance.

National Crime Agency, Operation Henhouse: over 400 arrests and £19m seized in national campaign tackling fraud.

National Cyber Security Centre, UK calls out China state-affiliated actors for malicious cyber targeting of UK democratic institutions and parliamentarians.

National Cyber Security Centre, Defending democracy: Guidance.

Norton Rose Fulbright, Horizon Scanning: Investigations and Enforcement.

Office of Financial Sanctions Implementation, OFSI Threat Assessment: Threats to Financial Sanctions Compliance in the UK.

Office of Financial Sanctions Implementation, Financial Sanctions Notice: Russia.

Office of Financial Sanctions Implementation, Financial Sanctions Notice: Counter-Terrorism (Domestic).

Office of Financial Sanctions Implementation, General Licence – Active Denizcilik and Beks Ships Transit to Port and Wind Down.

Office of Foreign Assets Control, Treasury Sanctions China-Linked Hackers for Targeting U.S. Critical Infrastructure.

Office of Foreign Assets Control, Treasury Sanctions Financial Facilitators and Illicit Drug Traffickers Supporting the Syrian Regime.

Office of Foreign Assets Control, Treasury Sanctions Hamas-Aligned Terrorist Fundraising Network.

Office of Foreign Assets Control, Treasury Sanctions Actors Financing the North Korean Weapons of Mass Destruction Program.

Organisation for Economic Cooperation and Development, Resilient integrity frameworks are key to mitigating new corruption risks from global challenges.

Organisation for Economic Cooperation and Development, Anti-Corruption and Integrity Outlook 2024.

Securities and Exchange Commission, SEC Charges Former Arista Networks Chairman Andy Bechtolsheim with Insider Trading.

Securities and Exchange Commission, Litigation Release No. 25955 / March 26, 2024.

Securities and Exchange Commission, Litigation Release No. 25956 / March 26, 2024: Securities and Exchange Commission v. Jordan Qsar, Grant Witherspoon, Austin Bernard, and Chase Lambert, No. 3:24-cv-00570 AJB BLM (S.D. Cal. filed Mar. 26, 2024).

The Guardian, UK faces ‘extraordinary’ $1bn claim from mining company.

Transparency International, OECD Anti-Bribery Convention at 25: Time to Step Up Enforcement.

UK courts, Eurasian Natural Resources Corporation Limited v Dechert LLP and Others [2023] EWHC 3280 (Comm).

UK government, Financial Sanctions: Cyber.

UK government, New sanctions on persons linked to Hamas-supporting media network.

Wolfsberg Group, Principles for Auditing a Financial Crime Risk Management Programme for Effectiveness under the Wolfsberg Factors.

Hello, and welcome to episode 135 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. On sanctions, new designations from the UK and US, and new licences from the UK. On money laundering news, MONEYVAL has announced operations relating to Latvia and Armenia, while in bribery and anti-corruption Baseline Reports on Kyrgyzstan, Tajikistan, and Uzbekistan have been added to the OECD library. On fraud news, a range of events marking International Fraud Awareness Week, and SLAPPs are the focus of other financial crime news.

A transcript of this podcast is available at www.crimes.financial, with links to the stories.

Hello, and welcome to this week in financial crime. I’m your host, Chris Kirkbride. A reasonably quiet week this week. Some decent money laundering stories, especially around the publication in the UK of the Economic Crime and Corporate Transparency Bill, some updated sanctions news and more moves in relation to the sham referendums in Russian-occupied Ukraine. Finally, a consultation on APP fraud driven by the Payment Systems Regulator. Hope, once again, not to detain you unduly today.

These are the links to the principal documents mentioned in the podcast:

European Commission, Eighth round of sanctions announcement

Financial Crimes Enforcement Network, Beneficial Ownership Information Reporting Rule Fact Sheet

Gambling Commission, Petfre (Gibraltar) Ltd decision notice

HM government statement, UK sanctions collaborators of Russia’s illegal sham referendums

Office of Financial Sanctions Implementation, Financial Sanctions Notice (26/09/2022)

Office of Financial Sanctions Implementation, Financial Sanctions Notice (28/09/2022)

Payment Systems Regulator, Consultation paper Authorised push payment (APP) scams: Requiring reimbursement

Statement by Secretary of the Treasury Janet L. Yellen on New Rule Under the Corporate Transparency Act

Hello, and welcome to episode 86 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. It has been another bumper week for financial crime news again this week. It’s becoming a little silly now. Stories across every aspect of financial crime, so let’s crack on.

As usual, I have linked the main stories flagged in the podcast in the description. These are:

Ankura Consulting Group LLC, UK: The Current

Economic Climate - A Golden Age For Fraud?

Council of the European Union, Humanitarian

action: EU introduces further exceptions to sanctions to facilitate the

delivery of assistance.

Crown Prosecution Service, Oxbridge fraudster

gets another eight-years in jail for failing to pay back £2.7m court order.

Department of Justice, United Kingdom

National Pleads Guilty to Hacking, Securities Fraud, and other Cybercrimes.

Department of State, The United States

and North Macedonia: A NATO Ally and Strategic Partner in the Balkans.

Entain plc, Update on Deferred

Prosecution Agreement.

European Banking Authority, The EBA consults

on new Guidelines on preventing the abuse of funds and certain crypto-assets

transfers for money laundering and terrorist financing purposes.

European Banking Authority, EBA issues

guidance to AML/CFT supervisors of CASPs.

European Banking Authority, Final Report:

Guidelines amending Guidelines EBA/GL/2021/16 on the characteristics of a

risk-based approach to anti‐money laundering and terrorist financing

supervision, and the steps to be taken when conducting supervision on a

risk‐sensitive basis under Article 48(10) of Directive (EU) 2015/849 (The

Risk‐Based Supervision Guidelines).

European Banking Authority, (Corrigendum)

Final Report: Guidelines amending Guidelines EBA/GL/2021/16 on the

characteristics of a risk-based approach to anti‐money laundering and terrorist

financing supervision, and the steps to be taken when conducting supervision on

a risk‐sensitive basis under Article 48(10) of Directive (EU) 2015/849 (The

Risk‐Based Supervision Guidelines).

Europol, International

collaboration leads to dismantlement of ransomware group in Ukraine amidst

ongoing war.

Griffore, K.A., Bowra, A., Guilcher, S.J. et al., Corruption risks

in health procurement during the COVID-19 pandemic and anti-corruption,

transparency and accountability (ACTA) mechanisms to reduce these risks: a

rapid review. Global Health 19, 91 (2023).

International Consortium of Investigative Journalists, Cypriot

authorities face scrutiny over probe into Russian billionaire’s moves to dodge

sanctions.

Office of Financial Sanctions Implementation, General Licence –

Correspondent Banking Payments INT/2023/3566356 (amendment).

Office of Financial Sanctions Implementation, Financial

Sanctions Notice: Iran (Nuclear).

Office of Financial Sanctions Implementation, Financial

Sanctions Notice: Libya.

Office of Financial Sanctions Implementation, Financial

Sanctions Notice: Russia.

Office of Financial Sanctions Implementation, OFSI successfully

defends first Court Review.

Office of Foreign Assets Control, Treasury Sanctions

Mixer Used by the DPRK to Launder Stolen Virtual Currency.

Serious Fraud Office, SFO secures nine

month sentence for solicitor who tipped off client about criminal investigation.

Spotlight on Corruption, Submission to HM

Treasury’s anti-money laundering consultation, September 2023.

The Guardian, ‘This is what

survivors look like’: the romance fraud victims who want to help others.

Transparency International, Political

Corruption in Europe: A Threat to More than Public Funds.

US Department of Justice, Principal

Associate Deputy Attorney General Marshall Miller Delivers Remarks at the New

York City Bar Association’s International White Collar Crime Symposium.

Hello, and welcome to episode 114 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. A quieter than typical week this week, but there will be no complaints from me about that. A range of sanctions designations, including of those allies to the Kaspersky software provision. In the first bit of news respecting Turkey this week, the OECD has reported on Turkey’s anti-foreign bribery enforcement, while on money laundering, the big news is the FATF Singapore Plenary, at which Turkey’s fate and place on the ‘Grey List’ was finally announced. There are a couple of fraud stories, and a brief cyber-attack news.

As usual, I have linked the main stories flagged in the podcast in the description. These are:

Council of Europe, 14th package of sanctions on Russia's war of aggression against Ukraine: EU lists additional 69 individuals and 47 entities.

Council of Europe, Russia’s war of aggression against Ukraine: comprehensive EU’s 14th package of sanctions cracks down on circumvention and adopts energy measures.

Council of Europe, Cyber-attacks: six persons added to EU sanctions list for malicious cyber activities against EU member states and Ukraine.

Eurojust, Eurojust leads efforts to step up judicial response to money laundering and asset recovery.

European Banking Authority, The EBA welcomes the entry into force of the framework establishing the anti-money laundering and countering the financing of terrorism authority.

European Commission, EU adopts 14th package of sanctions against Russia for its continued illegal war against Ukraine, strengthening enforcement and anti-circumvention measures.

Financial Action Task Force, Vietnam's progress in strengthening measures to tackle money laundering and terrorist financing.

Financial Action Task Force, Palau's progress in strengthening measures to tackle money laundering and terrorist financing.

Financial Action Task Force, Outcomes FATF Plenary, 26-28 June 2024.

Financial Action Task Force, Women in FATF and the Global Network.

Financial Conduct Authority, Teamwork: A Smart way to tackle financial crime.

Government of Singapore, Singapore Publishes National Asset Recovery Strategy.

Information Commissioner’s Office, Blog: Addressing concerns on the use of AI by local authorities.

Interpol, USD 257 million seized in global police crackdown against online scams.

Office of Financial Sanctions Implementation, Financial Sanctions Notice: Russia.

Office of Financial Sanctions Implementation, Financial Sanctions Notice: Russia.

Office of Financial Sanctions Implementation, General licence - INT/2023/2711256.

Office of Financial Sanctions Implementation, General Licence: Payments for Statutory Audits INT/2024/4888228.

Office of Foreign Assets Control, Treasury Sanctions Kaspersky Lab Leadership in Response to Continued Cybersecurity Risks.

Office of Foreign Assets Control, Treasury Targets Shadow Banking Network Moving Billions for Iran’s Military.

Office of Foreign Assets Control, Counter Terrorism and Iran-related Designations; Counter Narcotics Designations Removals (Specially Designated Nationals List Update).

Official Journal of the European Union, Council Decision (CFSP) 2024/1779 of 24 June 2024 amending Decision (CFSP) 2019/797 concerning restrictive measures against cyberattacks threatening the Union or its Member States.

Organisation for Economic Cooperation and Development, Türkiye’s foreign bribery enforcement remains poor and needs urgent overhaul despite some legislative improvements, says OECD Working Group on Bribery.

Organisation for Security and Cooperation in Europe, OSCE hosts panel discussion on asset recovery at the International Anti-Corruption Conference in Vilnius.

Spotlight on Corruption, The unfinished business of accountability for Glencore’s corruption.

The Guardian, DWP algorithm wrongly flags 200,000 people for possible fraud and error.

Transparency International, Seven Steps to Restore Trust in the Political Class.

United Nations Development Programme, Prime Minister Launches Revised National Anti-Corruption Strategy for Solomon Islands.

US Department of Industry and Security, Commerce Department Prohibits Russian Kaspersky Software for U.S. Customers.

Hello, and welcome to episode 134 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. On sanctions, new designations and legislative changes in the UK, while in the US, there is enforcement action and new designations. On money laundering, the FATF is consulting on revisions to its Recommendations, and MONEYVAL has released its annual report. The bribery and corruption news sees enforcement in the US, and lots of action from pan-national organisations. On fraud news, the Payment Systems Regulator in the UK has written to fraud enablers reminding them of their responsibilities, and FinCEN has issued a deepfake warning. There is also a round-up of other financial crime news this week, as well as a small amount of cybercrime news.

A transcript of this podcast is available at www.crimes.financial, with links to the stories.

Hello, and welcome to episode 97 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. It is yet another busy week for financial crime. The sanctions news is focused on a series of updates from the UK, and the opening of an inquiry into the operation of the UK sanctions regime as it relates to Russia. On money laundering news, there’s a little spinning around the FATF, together with some action from the EU agencies respecting action taken against launderers in the bloc member states. The fraud news is dominated by Covid-19 fraud, as it almost always seems to be, while there is news of action taken by the Central Bank of Ireland against a stockbroker for breaching MAR. There is more, and the usual round-up of all the cyber-attack news this week. Lots to get through, so let’s crack on.

As usual, I have linked the main stories flagged in the podcast in the description. These are:

Central Bank of Ireland, Enforcement Action: Goodbody Stockbrokers Unlimited Company fined €1,225,000 by the Central Bank of Ireland for breach of its obligations under MAR.

Department for Business and Trade, General Trade Licence for sanctioned iron and steel.

Department for Business and Trade, Transparency data: COVID-19 loan guarantee schemes performance data as at 31 December 2023.

Department of Justice, Couple Charged For $2 Million Bank Loan And COVID-19 Relief Fraud Schemes.

Department of Justice, 11 Defendants Indicted for $220,000 Covid Fraud Conspiracy.

Eurojust, Full-scale action against EUR 2 billion money laundering network via Lithuanian financial institution.

Financial Action Task Force, Outcomes FATF Plenary, 21-23 February 2024.

Financial Action Task Force, Public Consultation on Recommendation 16 on Payment Transparency.

Financial Conduct Authority, Evolving our enforcement approach to protect and grow our markets (speech).

Financial Conduct Authority, CP24/2: Our Enforcement Guide and publicising enforcement investigations - a new approach.

Financial Conduct Authority, Investigation opening criteria.

HM Treasury, Money Laundering Advisory Notice: High Risk Third Countries.

Kroll, Data Breach Outlook 2024.

Office of Financial Sanctions Implementation, Russia sanctions: guidance.

Office of Financial Sanctions Implementation, General Licence INT/2024/4398024 - Court Funds Office Payments.

Office of Financial Sanctions Implementation, General Licence INT/2022/2300292 - Payment to Energy Companies for Gas and/or Electricity.

Office of Financial Sanctions Implementation, An update on OFSI's licensing process and policies (blog post).

Office of Financial Sanctions Implementation, UK financial sanctions guidance: Guidance and webinars to help you understand how to comply with UK financial sanctions.

Office of Financial Sanctions Implementation, Financial Sanctions Notice: Iran.

Office of Financial Sanctions Implementation, Financial Sanctions Notice: Yemen.

Office of Financial Sanctions Implementation, Financial Sanctions Notice: Russia.

Office of Financial Sanctions Implementation, Financial Sanctions Notice: ISIL (Da’esh) and Al-Qaida.

Office of Financial Sanctions Implementation, Guidance: Who is subject to financial sanctions in the UK?

Office of Financial Sanctions Implementation, Guidance: Financial sanctions guidance for maritime shipping.

Spotlight on Corruption, The first UK sanctions strategy – our analysis.

Treasury Select Committee (UK parliament), New Treasury Committee inquiry launch: are the UK’s financial sanctions on Russia working? (press release).

Treasury Select Committee (UK parliament), Are the UK’s Russian financial sanctions working? (Committee Website).

Treasury Select Committee (UK parliament), Are the UK’s Russian financial sanctions working? (Call for Evidence).

UK Court Judgments, Dalston Projects Ltd & Ors v Secretary of State for Transport [2024] EWCA Civ 172.

UK government, Deter, disrupt and demonstrate – UK sanctions in a contested world: UK sanctions strategy.

UK government, Economic Crime and Corporate Transparency Act 2023: Factsheets.

US Department of Justice (US Attorney’s Office, Southern District of New York), Russian International Money Launderer Pleads Guilty To Illicitly Procuring Large Quantities Of U.S.-Manufactured Dual-Use, Military Grade Microelectronics For Russian Entities.

US Department of Justice (Office of Public Affairs), Russian International Money Launderer Pleads Guilty to Illicitly Procuring Large Quantities of U.S.-Manufactured Dual-Use, Military Grade Microelectronics for Russian Entities.

US Department of the Treasury, Treasury Announces Enhanced Fraud Detection Process Using AI Recovers $375M in Fiscal Year 2023.

Hello, and welcome to episode 105 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. This week has been yet another busy week for financial crime, which as I’ve still been ill, I still have done without. Sanctions news brings coordinated action against the Iranian drone production, and its suppliers. On bribery, more news on China and Ukraine getting their houses in order. The money laundering news comes with warnings on the role of cash couriers in funding terrorism, and some trouble in the EU over the FATF’s grey list and jurisdictions recently removed from it. There are also stories on the scale of government fraud in the US, and in the UK, the Serious Fraud Office has published its strategy for the next five years. There is also a round-up of this week’s cyber news. Let’s crack on.

As usual, I have linked the main stories flagged in the podcast in the description. These are:

Council of the European Union, Why the EU adopts sanctions.

Delegation of the European Union to Uzbekistan, European Union, EU Consortium and UNDP join efforts to support the anti-corruption effort of the Government of Uzbekistan.

Department for Education, Policy paper – DfE counter-fraud policy: summary.

European Parliament, Adoption of new rules to combat money laundering.

European Parliament, New EU rules to combat money-laundering adopted.

Financial Conduct Authority, Consultation Paper CP24/9***: Financial Crime Guide Updates.

National Cyber Security Centre, Exploitation of vulnerability affecting Palo Alto GlobalProtect Gateway.

National Cyber Security Centre, Pathways: exploring a new way to achieve Cyber Essentials certification.

Office of Financial Sanctions Implementation, Financial Sanctions Notice: Iran.

Office of Financial Sanctions Implementation, Guidance: Legal Services General Licence.

Serious Fraud Office, SFO Strategy 2014 – 2019.

South African Government, Non-profit Sector in South Africa Assessed for Exposure to Terrorist Financing Risk (press release).

South African Government, Terrorist Financing: Risk Assessment for the Non-profit Organisation Sector in South Africa.

The Guardian, Peter Hain calls for inquiry into MoD’s alleged role in Saudi bribes scandal.

Transparency International, Unfinished Business: Despite FATF Money Laundering List exit, UAE has much to prove.

UK government, UK targets Iran’s ability to launch drones through new round of sanctions.

US Department of Justice, Two Florida Steel Traders Sentenced for Money Laundering and Russia-Ukraine Sanctions Violations.

US Department of Justice, Former Comptroller General of Ecuador Convicted for $10M International Bribery and Money Laundering Scheme.

US Department of Justice, Laboratory Owners Charged in $36M COVID-19 Testing Fraud Scheme.

US Department of State, United States Imposes Sanctions on Suppliers Contributing to Ballistic Missile Proliferation.

US Department of State, U.S. Imposes Sanctions on Suppliers to Pakistan’s Ballistic Missile Program.

US Department of the Treasury, Treasury Designates Entities Involved in Raising Funds for Violent Extremists in the West Bank.

US Department of the Treasury, G7 Cyber Expert Group Conducts Cross-Border Coordination Exercise in the Financial Sector.

US Department of the Treasury, G7 Cyber Expert Group Conducts Cross-Border Coordination Exercise in the Financial Sector.

US Department of the Treasury, Treasury Targets Networks Facilitating Illicit Trade and UAV Transfers on Behalf of Iranian Military.

US Government Accountability Office, Fraud Risk Management: 2018-2022 Data Show Federal Government Loses an Estimated $233 Billion to $521 Billion Annually to Fraud, Based on Various Risk Environments.

US Government Accountability Office, Report to Congressional Committees: Fraud Risk Management.

US Office of Foreign Assets Control, Settlement Agreement between the U.S. Department of the Treasury's Office of Foreign Assets Control and SCG Plastics Co., Ltd.

US Office of Foreign Assets Control, Treasury Designates Iranian Cyber Actors Targeting U.S. Companies and Government Agencies.

World Bank, Unveiling the hidden: The crucial role of beneficial ownership registers in promoting transparency and accountability.

Hello, and welcome to episode 137 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. On sanctions, new designations from the US and UK, and Politico asks whether tariffs are the new sanctions. On money laundering, the National Crime Agency in the UK has disrupted a money laundering network supporting Russian oligarchs, while on bribery and corruption it’s global organisations leading the way once again with the OECD updating on corruption across five central Asian countries, and in the US McKinsey and Co (Africa) has agreed a DPA. The fraud news considers the launch of an investigation by the Covid-19 Corruption Commissioner in the UK, and news that the World Beekeeping Awards will not award for best honey next year. We finish this week with the usual round-up of cybercrime news.

A transcript of this podcast is available at www.crimes.financial, with links to the stories.

Hello, and welcome to this week in financial crime. I’m your host, Chris Kirkbride. If I was hoping for a quiet week in the run-up to the Easter holiday in the UK, I think I was being a little naive. It’s been a busy one. This week’s round-up of all things financial crime looks at…..

• Sanctions, once again, top the list of stories, with more action being taken globally following the Russian invasion of Ukraine
• News this week of action taken by Microsoft to close down domains associated with cyberattacks
• Possible trouble at the Financial Conduct Authority
• The International Monetary Fund assesses the United Kingdom’s financial system, looking at its vulnerabilities to financial crime
• and a couple of bribery convictions in the US and UK, and much more

Hello, and welcome to episode 128 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. After a few relatively quiet weeks, we are back up to the lengthy episodes of the podcast. New designations from the US and UK. On money laundering, the IMF reports on its recent Uganda mission. The fraud news comes with reports on the scale of fraudulent insurance claims in the UK, a guilty plea in a fraud case against a former solicitor, and research from the Social Market Foundation on the scale of the global fraud problem. The SEC in the US has been active against market abuse, and the FCA in the UK has charged two individuals with insider dealing offences. There’s more research from the Centre for Cybercrime and Economic Crime on the state of financial crime enforcement collaboration, and there is also a round-up of this week’s cybercrime news.

A transcript of this podcast is available at www.crimes.financial, with links to the stories.

Hello, and welcome to this week in financial crime. I’m your host, Chris Kirkbride. It’s been another busy one this week, so best to crack on with our round-up of all things financial crime. We’ll look at…..

●    Sanctions, once again, top the list of stories, with more stories relating to actions being taken, together with proposals for further action, across the international community following the Russian invasion of Ukraine

●    Eurojust Corruption Report and Berlusconi back in the news

●    Wolfsberg Group on Negative News Screening

●    Upper Tribunal upholds Regulatory Decisions Committee

●    And, we take a look at the Queen’s Speech

Hello, and welcome to this week in financial crime. I’m your host, Chris Kirkbride. It’s been an interesting week this week with lots of interesting and varied stories to keep those with an interest in financial crime coming back for more. There is the usual mix of sanctions, especially from the European Union, together with a new report on money mules from a major UK bank. There is also a range of scammer warnings, some dates for your diary on bribery and anti-corruption, as well as some market abuse enforcement action.

These are the links to the principal documents mentioned in the podcast: 

European Commission, EU agrees on eighth package of sanctions against Russia.

European Commission, Questions and Answers on the eighth package of restrictive measures against Russia.

Europol, Suspect arrested in the Netherlands for circumventing EU trade sanctions against Russia.

Financial Conduct Authority, FCA research: A quarter of consumers would withdraw pension savings earlier to cover cost of living – making them vulnerable to scammer ‘misdirection’.

Financial Conduct Authority, Press Release: FCA fines Sigma Broking Limited £530,000 and bans and fines its former directors following market abuse reporting failures.

Financial Conduct Authority, Final Notice: Sigma Broking Ltd.

Financial Conduct Authority, Final Notice: Mr Simon Tyson.

Financial Conduct Authority, Final Notice: Mr Stephen John Tomlin.

Financial Conduct Authority, Final Notice: Mr Matthew Charles Kent.

Lloyds Banking Group, Money mules are getting older – with serious penalties for those caught moving scam cash.

OFSI, Changes to consolidated list as at 4^th October 2022.

OFSI, Changes to consolidated list as at 5^th October 2022.

OFSI, General Licence, Russian Banks, Guernsey Subsidiary (INT/2022/1280876).

Transparency International, Announcement of publication of ‘Exporting Corruption’ report.

UK House of Commons Library, Economic Crime and Corporate Transparency Bill 2022-23.

UK House of Lords, Effects of Corruption in the UK.

Hello, and welcome to episode 79 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. Sanctions and fraud news take our focus this week, but the other areas of financial crime keep those areas ticking along nicely. We also take a look at this week’s cyber-attack news.

As usual, I have linked the main stories flagged in the podcast in the description. These are:

Criminal Cases Review Commission, Financial trader’s conviction referred to Court of Appeal.

Crown Prosecution Service, Bernie Ecclestone convicted of fraud.

Financial Conduct Authority, Cryptoasset AML / CTF regime: feedback on good and poor quality applications.

Financial Conduct Authority, Whistleblowing quarterly data 2023 Q2.

Financial Conduct Authority, Financial watchdog fines Equifax Ltd £11 million for role in one of the largest cyber-security breaches in history.

Financial Conduct Authority, Final Notice: Equifax Ltd.

Financial Conduct Authority, Restrictions placed on IBP Markets Limited and the firm enters special administration.

Financial Conduct Authority, First Supervisory Notice: IBP Markets Limited.

Financial Reporting Council, Sanctions against KPMG LLP, KPMG Audit plc and two former partners.

Hiscox, Cyber Readiness Report 2023.

Home Office, Independent Review of Disclosure and Fraud Offences: terms of reference.

Institute of Chartered Accountants in England and Wales, The 21st-century evolution of cyber security.

National Cyber Security Centre, Mastering your supply chain (blog post).

New Zealand Supreme Court, David Charles Rae v Commissioner of New Zealand Police - SC 33/2023.

Office of Financial Sanctions Implementation, General licence - INT/2023/3024200.

Office of Financial Sanctions Implementation, General Licence INT/2022/2300292.

Ogier, Employee Cyber Awareness Still A Major Concern - Make Sure Your Team Is On The Ball.

Payment Systems Regulator, PSR responds to Which?, Age UK, National Trading Standards and Victim Support.

UK Court Service, Boris Mints & Ors v PJSC National Bank Trust & Anor [2023] EWCA Civ 1132.

US Bureau of Justice Statistics, Victims of Identity Theft, 2021.

US Department of Justice, Deputy Attorney General Lisa O. Monaco Announces New Safe Harbor Policy for Voluntary Self-Disclosures Made in Connection with Mergers and Acquisitions.

US Department of Justice, Acting Assistant Attorney General Nicole M. Argentieri Delivers Remarks at the American Bar Association 10th Annual London White Collar Crime Institute.

US Department of Justice, Ten Individuals Charged for $950,000 COVID-19 Relief Fraud Schemes.

US Department of Justice, Man Sentenced for Over $500,000 COVID-19 Relief Fraud and Money Laundering Scheme.

US Department of the Treasury’s Office of Foreign Assets Control, Treasury Sanctions Entities for Transporting Oil Sold Above the Coalition Price Cap to Restrict Russia’s War Machine.

War & Sanctions, Artworks owned by Roman Abramovich.

Hello, and welcome to this week in financial crime. I’m your host, Chris Kirkbride. A good range of stories this week, with plenty on sanctions, money laundering, fraud, and corruption. Also, there is a round-up of the cyber-attack news making the headlines this week, so let’s make a start.

These are the links to the principal documents mentioned in the podcast:

Cifas, 1 in 12 Brits have lied about qualifications on a CV.

European Commission, Statement by President von der Leyen on the 10th package of sanctions against Russia.

Gambling Commission, Blue Star Planet Limited Public Statement.

Insolvency Service, Bounce Back Loan fraudster jailed for 12 months.

Insolvency Service, 10-year ban for boss of Fortress Restructuring Ltd after wrongly claiming £50,000 loan.

Judicial Committee of the Privy Council, The Attorney General v The Jamaican Bar Association; The General Legal Council v The Jamaican Bar Association [2023] UKPC 6.

Office of Financial Sanctions Implementation, Understanding OFSI: An Introductory Webinar.

Pinsent Masons, Understand ransomware payment risks before incidents happen, says expert.

The Guardian, Beware of Valentine’s Day romance fraud, UK online daters told.

The Guardian, Fake doctor who worked in NHS for 20 years found guilty of fraud.

UK government, Independent Member appointed to the Committee on Standards in Public Life.

UK Home Office, Joint Fraud Taskforce board minutes: 21 November 2022.

US Department of Justice, Deputy Assistant Attorney General Lisa H. Miller Delivers Remarks at the University of Southern California Gould School of Law on Corporate Enforcement and Compliance.

US Department of Justice, Senior Oil and Gas Trader and Brazil-Based Intermediary Charged in Bribery and Money Laundering Scheme.

Hello, and welcome to episode 124 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. On sanctions this week, the suspension of some export licences to Israel, and the detention of an aircraft believed to belong to the Venezuelan president. On corruption, in Ukraine the first deputy of the National Anti-Corruption Bureau has been dismissed, and the former head of Lebanon’s Central Bank is under investigation for embezzlement. Much of the money laundering news churns around the FATF, while new AML rules have been agreed in the UAE. On fraud, big news out of the UK with the Financial Ombudsman Service reporting on scam volumes, while the Payment Systems Regulator is consulting (again) on the reimbursement level for APP fraud. In other financial crime news, the Financial Conduct Authority has published a series of annual updates alongside its Annual Report and Accounts, while there is also a round-up of this week’s cyber-attack news.

A transcript of this podcast is available at www.crimes.financial, with links to the stories.

Hello, and welcome to episode 68 of the Financial Crime Weekly Podcast, I’m your host, Chris Kirkbride. It’s been quite a quiet week this week, with sanctions taking centre stage. However, there is the usual mix of fraud, money laundering, and bribery, together wth a round-up of the cyber-attack news. Let’s crack on.

As usual, I have linked the main stories flagged in the podcast in the description. These are:

Council of the European Union, Iran: EU adopts new restrictive measures for military support to Syria and Russia's war of aggression against Ukraine.

Council of the European Union, Myanmar/Burma: EU imposes seventh round of sanctions against six individuals and one entity.

Department for Business and Trade and the Export Control Joint Unit, UK strategic export controls annual report 2022.

Department of Justice, Long Island Man Pleads Guilty to Massive COVID-19 Loan Fraud.

Department of Justice, Four Capital Region Men Charged with Pandemic Fraud Scheme.

Department of State, Imposing Additional Sanctions on Those Supporting Russia’s War Against Ukraine (Fact Sheet).

European Securities and Markets Authority, Report on Suspicious Transactions and Order Reports.

Federal Reserve, Federal Reserve Board announces two enforcement actions against Deutsche Bank AG, its New York branch, and other U.S. affiliates.

Financial Conduct Authority, Listing Transactions – Russia and Belarus sanctions confirmation.

Financial Conduct Authority, Market cleanliness statistics 2022/23.

Foreign, Commonwealth and Development Office, UK sanctions Wagner Group leaders and front companies responsible for violence and instability across Africa (Press Release).

Gambling Commission, Done Bros (Cash Betting) Limited to pay £3.25m for regulatory failures (Press Release).

Gambling Commission, Done Bros (Cash Betting) Limited Public Statement.

His Majesty’s Revenue and Customs, Dealing with promoters of tax avoidance.

National Crime Agency, National Strategic Assessment of Serious and Organised Crime 2023.

Office of Foreign Assets Control, Treasury Sanctions Impede Russian Access to Battlefield Supplies and Target Revenue Generators.

Office of Foreign Assets Control, Treasury Sanctions Drug Traffickers Operating Across Europe and North America.

Serious Fraud Office, SFO seizes Sheffield flat linked to £17 million bribery in China.

Serious Fraud Office, Annual Report and Accounts 2022/23.

The Guardian, Half of UK company directors struck off linked to alleged Covid loan fraud.

Transparency International, Ukraine: Reflections on Building a Transparent & Accountable Nation.

UK government, UK announces new sanctions in response to Russia’s forced deportation of Ukrainian children.

Hello, and welcome to episode 148 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. On sanctions, threats to Russia from the US, minor changes to the UK sanctions regime, and a couple of pieces of reading I wanted to share. On money laundering, a crypto exchange take-down in the US, while on bribery and corruption, activity in the EU against alleged corruption. On fraud, interesting stories from the US with warnings of fraud and the scale of fraud committed against citizens. On other financial crime news, Europol has announced that its EU Serious and Organised Crime Threat Assessment 2025, and we end this week with a round-up of cybercrime news.

A transcript of this podcast, with links to the stories, will be available by Monday at www.crimes.financial.

Hello, and welcome to episode 76 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. Broad range of stories from across financial crime themes this week, as well as a round-up of cyber-attack news.

As usual, I have linked the main stories flagged in the podcast in the description. These are:

Cyber Security Agency of Singapore, Nationwide Cyber Crisis Management Exercise to Test 11 Critical Sector’s Response to Complex Cyber-attack Scenarios.

Financial Action Task Force, FATF-INTERPOL Partnership: Igniting Global Change to Take the Profit Out of Crime.

Gambling Commission, Lindar Media Limited faces £690,947 regulatory action (press release).

Gambling Commission, Lindar Media Limited Public Statement.

Government of Canada, Canadian Sanctions Related to Russia.

Home Office, Unexplained wealth orders: 2022 to 2023 annual report.

International Consortium of Investigative Journalists, Leak reveals majority interest in Roman Abramovich’s nearly $1 billion art collection was transferred to his ex-wife ahead of sanctions.

Interpol, FATF-INTERPOL partnership: putting trillions in illicit profits back into legitimate economies.

Joint Money Laundering Steering Group, Ministerial approval of JMLSG Guidance.

National Crime Agency, New SAR-Portal User Feedback Form (downloads as Excel file).

National Crime Agency, Failure to respond to Unexplained Wealth Order sets legal history.

Office of Financial Sanctions Implementation, Financial Sanctions Notice: Russia (19/09/23).

Office of Financial Sanctions Implementation, Financial Sanctions Notice: ISIL (Da’esh) and Al-Qaida (22/09/23).

Office of Financial Sanctions Implementation, Guidance: The UK Sanctions List.

Office of Financial Sanctions Implementation, General Licence: Payment to Water Companies for Water & Sewage INT/2023/3179120.

Organised Crime and Corruption Reporting Project, Leak Unveils Russian Oligarch Abramovich’s $1 Billion Art Collection. Despite Sanctions, It Has Not Been Seized or Frozen.

Spotlight on Corruption, The UK must up its game on asset recovery to tackle corruption and kleptocracy.

Statista, The Most Prevalent Forms of Cyber Crime.

UK Parliament, Science, Innovation and Technology Committee, Call for Evidence: Cyber resilience of the UK's critical national infrastructure.

UK Supreme Court, Republic of Mozambique (acting through its Attorney General) v Privinvest Shipbuilding SAL (Holding) and others [2023] UKSC 32.

UK Supreme Court, Republic of Mozambique (acting through its Attorney General) v Privinvest Shipbuilding SAL (Holding) and others (press summary).

US Attorney’s Office, Financial Crimes Conference Aims to Give Law Enforcement Tools to Better Fight Internet Crime.

US Department of the Treasury Office of Foreign Assets Control, Treasury Sanctions Multinational Network Supporting Iran’s UAV and Military Aircraft Production.

US Department of Justice, Russian International Money Launderer Arrested for Illicitly Procuring Large Quantities of U.S.-Manufactured Dual-Use Military Grade Microelectronics for Russian Elites.

US Department of Justice, Attorney Pleads Guilty To Operating $18.8 Million Ponzi Scheme And To Money Laundering, Obstruction Of Justice, And Perjury Charges.

US Department of Justice, New Haven Man Sentenced to 37 Months in Prison for PPP Loan Fraud, Money Laundering, and Drug Offenses.

US Department of Justice, Florida Man Sentenced To Three Years In Prison For Participating In Fraud And Money Laundering Scheme Targeting Hedge Fund.

US Department of Justice, Georgia Man Sentenced to Five Years in Prison for Wire Fraud, Wire Fraud Conspiracy, and Aiding in the Filing of False Tax Returns.

US Department of Justice, Three Albuquerque Residents Indicted for COVID-19 Fraud.

US Department of Justice, Readout of U.S. Attorney General Merrick B. Garland’s Meeting with Ukrainian Prosecutor General Andriy Kostin.

In this special edition of the Financial Crime Weekly Podcast we look at the Policy paper called Exploring organisational experiences of cyber security breaches - An in-depth qualitative study with a range of businesses and organisations which have been affected by cyber security breaches.

Hello, and welcome to this week in financial crime. I’m your host, Chris Kirkbride. It’s been another busy one this week, so best to crack on with our round-up of all things financial crime. We’ll look at…..

• Sanctions, once again, top the list of stories, with more action being taken globally following the Russian invasion of Ukraine
• Evidence given to the UK Treasury Select Committee on Effective Sanctions
• Frauds and Scam Adverts
• And, an update on the progress of the beneficial ownership register

Hello and welcome to this special edition of the Financial Crime Weekly podcast where we look at the recently published National Audit Office Report, Tackling fraud and corruption against government. The report is a broad-ranging one which seeks to make plain the scale of the losses caused to the public purse by fraud and corruption. In some eye-watering commentary on the increase in scale over recent years, the plan makes recommendations to prevent problems on such a dramatic scale as presented in the report.

Hello, and welcome to episode 78 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. There is a good range of news across all the usual sectors this week, with money laundering and cyber-attack news at the head of queue.

As usual, I have linked the main stories flagged in the podcast in the description. These are:

Bar Council, Response to HM Treasury Consultation on reform of the AML and Counter-Terrorism Financing Supervisory Regime.

European Parliament, Nagorno-Karabakh: MEPs demand review of EU relations with Azerbaijan (press release).

Financial Conduct Authority, FCA fines ADM Investor Services International Limited £6,470,600 for serious financial crime control failings (press release).

Financial Conduct Authority, ADM Investor Services International Limited: Final Notice.

HM Treasury, Reforming anti-money laundering and counter-terrorism financing supervision (Closed Consultation).

Group of States against Corruption of the Council of Europe, Evaluation Report: Cyprus.

Information Commissioner’s Office, John Edwards' opening speech at DPPC 2023.

Information Commissioner’s Office, ICO consultation on draft Data Protection Fining Guidance.

Insolvency Service, Judge orders director of gift company to repay falsely-obtained Covid loan (press release).

Insolvency Service, Official Receiver secures multimillion payout for scam victims (press release).

Lieber Institute, Cyber Operations as Crimes at the International Criminal Court.

Moody’s, Cyber Survey 2023.

Office of Financial Sanctions Implementation, Financial Sanctions Notice: Iraq (06/10/2023).

Office of Financial Sanctions Implementation, Outreach Satisfaction Survey.

Office of Financial Sanctions Implementation, General Licence: Payments to Companies House INT/2023/3626884.

UK Finance, Fraud by Abuse of Position and Money Laundering.

UK Foreign, Commonwealth, and Development Office and UK Delegation to OSCE, Corruption and Russia's war against Ukraine: UK statement to the OSCE.

United Nations, Security Council 1518 Sanctions Committee Removes One Entry from Its Sanctions List (press release).

US Department of Justice, Inkster Mayor Charged with Bribery.

US Department of Justice, Ian Freeman Sentenced to 8 Years in Prison for Operating a Bitcoin Money Laundering Scheme.

US Department of Justice, United States Attorney Martin Estrada Launches Corporate and Securities Fraud Strike Force.

Hello, and welcome to episode 93 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. It is yet another busy week for financial crime. A range of stories across the whole of financial crime, with sanctions, fraud, and money laundering all vying for top spot. Also this week, Transparency International has published its annual Corruption Perceptions Index. We’ll also review this week’s cyber-attack news, with a huge story out of the US. Lots to get into, so let’s crack on.

As usual, I have linked the main stories flagged in the podcast in the description. These are:

British and Irish Legal Information Institute, R v Gross [2024] EWCA Crim 21.

Council of the European Union, Russia’s war of aggression against Ukraine: Council renews economic sanctions for a further 6 months.

Council of the European Union, Cyber: Statement by the High Representative on behalf of the European Union, expressing solidarity with Australia on the impact of cyber-attacks against its health sector.

Department of Justice, Three Individuals Charged for Roles in $1.89B Cryptocurrency Fraud Scheme.

Elspeth Berry, Why We Still Don’t Know Who Controls British Firms, and Why it Matters (Oxford Business Law Blog).

European Parliament, Anti-corruption: MEPs to push for stricter EU-wide measures and penalties.

Financial Crimes Enforcement Network, FinCEN Finds Iraq-based Al-Huda Bank to be of Primary Money Laundering Concern and Proposes a Rule to Combat Terrorist Financing.

Financial Crimes Enforcement Network, Proposal of Special Measure regarding Al-Huda Bank, as a Foreign Financial Institution of Primary Money Laundering Concern.

FT Adviser, Financial data from 53mn individuals involved in data breaches.

National Crime Agency, $150m cryptocurrency seizure following US-UK cooperation.

National Crime Agency, SARs in Action (Issue 24).

Office of Financial Sanctions Implementation, Financial Sanctions Notice: Iran.

Office of Financial Sanctions Implementation, Guidance: Who is subject to financial sanctions in the UK?

Office of Financial Sanctions Implementation, Statutory guidance – Russia sanctions: guidance.

Office of Financial Sanctions Implementation, Financial Sanctions Notice: Russia.

Office of Financial Sanctions Implementation, Price Cap Coalition - Oil Price Cap (OPC) Compliance and Enforcement Alert.

Office of Financial Sanctions Implementation, Financial Sanctions Notice: Myanmar.

Office of Foreign Assets Control, The United States and United Kingdom Target Iranian Transnational Assassinations Network.

Office of Foreign Assets Control, U.S. Treasury Takes Action to Protect Iraqi Financial System From Abuse.

Office of Foreign Assets Control, Treasury Designates ISIS Cyber Facilitators and Trainers.

Office of Foreign Assets Control, Treasury Sanctions Military Cronies and Companies in Burma Three Years after Military Coup.

Office of the New York State Attorney General, Attorney General James Sues Citibank for Failing to Protect and Reimburse Victims of Electronic Fraud.

Securities and Exchange Commission, SEC Charges Founder of $1.7 Billion “HyperFund” Crypto Pyramid Scheme and Top Promoter with Fraud.

Transparency International, CPI 2023: Corruption and (In)Justice (press release).

Transparency International, Corruption Perceptions Index.

United States District Court for the Southern District Of New York, THE PEOPLE OF THE STATE OF NEW YORK, by LETITIA JAMES, Attorney General of the State of New York v Citibank N.A.

US Department of Justice, Lexington Woman Sentenced for Wire Fraud and Money Laundering Related to COVID-19 Relief.

US Department of Justice, U.S. Government Disrupts Botnet People’s Republic of China Used to Conceal Hacking of Critical Infrastructure.

Hello, and welcome to this week in financial crime. I’m your host, Chris Kirkbride. It’s been another busy one this week, so best to crack on with our round-up of all things financial crime. We’ll look at…..

● Some sanctions news this week, though the news there is becoming a real trickle now

● Quite a lot of money laundering news this week

● And a bit on regulatory enforcement for financial crime deficiencies

Hello, and welcome to this week in financial crime. I’m your host, Chris Kirkbride. It’s been another busy one this week, so best to crack on with our round-up of all things financial crime. We’ll look at…..

●    Sanctions, once again, top the list of stories, with news from the EU and US

●    Fraud news, with a conviction

●    Money laundering news from the EU and Jersey

Hello, and welcome to episode 69 of the Financial Crime Weekly Podcast, I’m your host, Chris Kirkbride. It’s been quite a very quiet week this week. I think most sensible people must be on holiday. Still, I have managed to find just enough financial crimes news to keep things ticking over. Let’s crack on.

As usual, I have linked the main stories flagged in the podcast in the description. These are:

BBC News, Bank staff defy customers to prevent £55m of fraud in 2022.

Crown Prosecution Service, A former Governor of Nigeria's Delta State has been ordered to pay over £100 million and his solicitor over £28 million.

European Commission, Evaluation of Directive 2018/1673.

Financial Conduct Authority, FCA secures Confiscation Order against convicted money launderer.

Home Office, UK-Australia joint statement from the Illicit Financing Co-ordination Dialogue.

Office of Financial Sanctions Implementation, UK Financial Sanctions: General guidance for financial sanctions under the Sanctions and Anti-Money Laundering Act 2018.

Office of Financial Sanctions Implementation, General Licence – Mongolia Energy Payments INT/2022/2085212.

Office of Financial Sanctions Implementation, Financial Sanctions Notice: ISIL (Da’esh) and Al-Qaida.

Office of Financial Sanctions Implementation, Guidance: Who is subject to financial sanctions in the UK?

Office of Foreign Assets Control, Counter Terrorism Designation: Specially Designated Nationals List Update.

Office of Foreign Assets Control, Treasury Targets Malian Officials Facilitating Wagner Group.

Office of Foreign Assets Control, Russia-related Designations: Specially Designated Nationals List Update.

Serious Fraud Office, Notice of discontinuance: G4S Care & Justice Services (UK) Limited.

Solicitors’ Regulation Authority, Sectoral Risk Assessment: Anti-money laundering and terrorist financing.

UK Finance, Over £55 Million of Fraud Prevented in 2022 by Rapid Response Scheme.

UK Finance, Why the Banking Protocol Matters.

US Attorney’s Office, British Investor and Billionaire Businessman Joseph Lewis Charged with Insider Trading and Financial Fraud.

US Department of State, Designating Senior ISIS-Somalia Financier.

Hello, and welcome to episode 126 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. After a sequence of lengthy episodes of the podcast, it’s nice to have a shorter episode from time-to-time to keep everyone happy. On sanctions, the UK has updated its Iran sanctions regime, and the US has issued a host of new designations for human rights abuses and cyber-crimes. On money laundering news, indications from China that the ruling party is looking to update its anti-money laundering regime to address the risk posed by crypto. On fraud, some Covid-19 fraud from the UK, and the FCA has made a public statement on its anti-fraud approach. Of course, there is also a round-up of cyber-crime news this week.

A transcript of this podcast is available at www.crimes.financial, with links to the stories.

Hello, and welcome to episode 102 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. It has been a remarkably busy week this week. While the sanctions news was a limited, further action has been taken by the US against those facilitating Iranian sanctions evasion, but the main content this week comes in the form of bribery and market abuse news. In fact, there has been a noticeable trend over recent weeks in the number of stories relating to bribery and market abuse. Why? Maybe it’s the cost of living, but that argument falls down when you think of the wealth of some of the individuals concerned. Maybe it’s because they might be seen, wrongly in my view, as victimless crime. At least that used to be the view in relation to market abuse. Anyway, there is a load of news from those areas. In other news, the Financial Action Task Force has updated on the implementation of recommendation 15 by all FATF members and materially important virtual asset service providers. What else? Well, there’s a big report from Europol and the usual round-up of cyber-attack news. Let’s crack on.

As usual, I have linked the main stories flagged in the podcast in the description. These are:

Ajax, Supervisory Board suspends Alex Kroes due to strong indications of insider trading.

Cyber Safety Review Board, Review of the Summer 2023 Microsoft Exchange Online Intrusion.

Cyber Safety Review Board, Cyber Safety Review Board Releases Report on Microsoft Online Exchange Incident from Summer 2023 (press release).

Department of Justice, Swiss Commodities Trading Company Pleads Guilty to Foreign Bribery Scheme.

Department of Justice, Justice Department’s Investigation into International Commodities Trading Companies’ Foreign Bribery Schemes Results in Six Corporate Resolutions and 20 Individuals Convicted.

Department of Justice, United States Seeks Forfeiture of Former Mongolian Prime Minister's Luxury New York City Apartments Purchased with Proceeds of Corruption Scheme.

Department of Justice, Justice Department Seeks Forfeiture of $14 Million Manhattan Apartments Purchased with Proceeds of Mongolian Corruption Scheme.

Department of Justice, U.S. Attorney Announces Charges In Four Separate Insider Trading Cases Against 10 Individuals, Including Drug Company Employees, Investment Firm Executive Director, And SPAC Investors.

European Securities and Markets Authority, ESMA publishes latest edition of its newsletter (press release).

European Securities and Markets Authority, Spotlight on Markets.

Europol, Europol report identifies the most threatening criminal networks in the EU (press release).

Europol, Report: Decoding the EU’s most threatening criminal networks.

Europol, Europol press conference: Decoding the most threatening criminal networks (YouTube).

Federal Bureau of Investigation, FBI Countering Cyber Threats Through ‘Joint, Sequenced Operations,’ Director Says (press release).

Federal Bureau of Investigation, Director Wray's Remarks at the FBI and University of Kansas Cybersecurity Conference.

Financial Action Task Force, Status of implementation of Recommendation 15 by FATF Members and Jurisdictions with Materially Important VASP Activity.

Financial Conduct Authority, Stuart Bayes found guilty of insider dealing.

Gambling Commission, Bet365 to pay £582,120 for regulatory failures.

Home Office, Response to consultation on changes to bodies granted investigatory powers.

National Anti-Corruption Commission, Guidelines for participating in anti-corruption and investment confidence in Thailand.

Office of Foreign Assets Control, Treasury Targets Network Facilitating Shipments Valued in Hundreds of Millions for Iranian Military.

Securities and Exchange Commission, Litigation Release No. 25962 / April 2, 2024: Securities and Exchange Commission v. Treusch, No. 1:24-civ-01050 (E.D.N.Y. filed Feb. 11, 2024).

The White House, Water and Wastewater cyber-attack letter.

UK Statutory Instruments, The Proceeds of Crime Act 2002 (References to Financial Investigators) (England and Wales and Northern Ireland) (Amendment) Order 2024 SI No 425.

Hello, and welcome to this week in financial crime. I’m your host, Chris Kirkbride. Another busy week this week. Sanctions, money laundering, fraud, cyber, and regulatory enforcement. More life-affirming content from the world of financial crime. Let’s make a start.

These are the links to the principal documents mentioned in the podcast:

City AM, Exclusive: The WhatsApp scandal in banking and its place in the City.

Criminal Cases Review Commission, Fraud conviction overturned after latest CCRC Post Office referral.

European Securities and Markets Authority, Report: Administrative and criminal sanctions and other administrative measures imposed under the Market Abuse Regulation in 2021.

Financial Conduct Authority, Date set for trial against 5 individuals involved with Worthington Group plc.

Financial Conduct Authority, FCA bans director from working in financial services after violent criminal conviction.

Financial Conduct Authority, FCA issues Final Notice to former CEO for anti-money laundering failings.

Guernsey government, Economic & Financial Crime Bureau now enshrined in Law.

National Audit Office, Progress Combatting Fraud.

Office of Foreign Assets Control (‘OFAC’), Treasury Sanctions Global Russian Military Supply Chain, Kremlin-linked Networks, and Elites with Western Fortunes.

Payment Systems Regulator, Memorandum of Understanding between the Payment Systems Regulator (‘PSR’) and the Lending Standards Board (‘LSB’).

Securities and Exchange Commission, Commission filed 760 enforcement actions and recovered record $6.4 billion in penalties and disgorgement on behalf of investing public.

TRACE, Bribery Risk Matrix.

UK government, UK and international partners announce further sanctions against Iranian officials.

UK Insolvency Service, Suspended prison sentence for Bounce Back Loan fraudster.

UK Legislation, The Money Laundering and Terrorist Financing (HighRisk Countries) (Amendment) (No. 3) Regulations 2022.

UK Legislation, The Money Laundering and Terrorist Financing (HighRisk Countries) (Amendment) (No. 3) Regulations 2022: Explanatory Note.

UK Office of Financial Sanctions Implementation, Oil Price Cap Update.

Hello, and welcome to this week in financial crime. I’m your host, Chris Kirkbride. After a fallow week, there has been an uptick in activity again. Lots of reports published this week, more sanctions activity, plenty on the cyber risks to keep all of us focused, but especially compliance people, and Glencore receives its sentence for bribery for its guilty plea in relation to the English prosecution.

These are the links to the principal documents mentioned in the podcast:

BBC News, Cyber-attacks on small firms: The US economy's 'Achilles heel'?.

Chartered Trading Standards Institute (CTSI), Rogue Traders cash in on victims as the cost-of-living crisis continues.

Civil Market Abuse Claim, Financial Conduct Authority v Konstantinos Papadimitrakopoulos and Dimitris Gryparis [2022] EWHC 2792 (Ch).

Financial Conduct Authority, FCA prosecutes five individuals for role in 'all-ornothing’ investment scheme.

Insolvency Service, Directors banned in care home investment scheme.

Insolvency Service, East Midlands directors banned for Bounce Back Loan abuse.

Institute of Chartered Accountants of Scotland, Anti-Money Laundering Supervision Annual Report.

Kiel Institute for the World Economy, Brothers in Arms: The Value of Coalitions in Sanctions Regimes.

Serious Fraud Office, Glencore to pay £280 million for ‘highly corrosive’ and ‘endemic’ corruption.

Solicitors’ Regulation Authority, Anti-Money Laundering annual report 2021-2022.

The Guardian, UK adds two Roman Abramovich ‘business associates’ to Russia sanctions list.

UK government press release, UK sanctions Russian steel and petrochemical tycoons funding Putin's war.

UK House of Commons Foreign Affairs Committee, The cost of complacency: illicit finance and the war in Ukraine: Government Response to the Committee’s Second Report.

UK National Cyber Security Centre, Helping you with Cyber Security – a webinar for Small Organisations.

UK National Cyber Security Centre, Annual Review 2022 and Executive Summary.

UK Office of Financial Sanctions Implementation, Consolidated List of Financial Sanctions Targets in the UK.

UK Office of Financial Sanctions Implementation, General Licence INT/2022/2339452.

UK secondary legislation, The Sanctions (Damages Cap) Regulations 2022.

U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), Sanctions against 15 Khordad Foundation.

Wolfsberg Group, Wolfsberg Financial Crime Principles for Correspondent Banking.

Hello, and welcome to episode 99 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. It is yet another busy week for financial crime, with content across all areas. Sanctions updates from the US and UK, a little money laundering news in terms of a consultation in the UK, and technical advice sought by the European Commission from the EBA. There’s also a wide range of bribery and corruption and fraud news, with the usual round-up of cyber-news this week. Lots to get through, so let’s crack on.

As usual, I have linked the main stories flagged in the podcast in the description. These are:

British Library, Learning Lessons from the Cyber-Attack.

Council of Europe’s Group of States against Corruption, Republic of Moldova: GRECO calls for improvements in preventing corruption in the central government and the police.

Council of Europe’s Group of States against Corruption, Fifth Round Evaluation Report on the Republic of Moldova.

European Commission, Provisional request for advice to the European Banking Authority (EBA) regarding regulatory technical standards and guidelines under the future anti-money laundering / countering the financing of terrorism (AML/CFT) framework.

European Parliament, EU sanctions: new rules to crack down on violations.

European Parliament, Amendments by the European Parliament to the Commission proposal on the definition of criminal offences and penalties for the violation of Union restrictive measures and amending Directive (EU) 2018/1673.

Financial Action Task Force, Guidance on Beneficial Ownership and Transparency of Legal Arrangements.

High Court of Australia, AB (a pseudonym) v Independent Broad-based Anti-corruption Commission [2024] HCA 10.

Financial Conduct Authority, FCA progresses market abuse claim against Globo Plc chiefs.

Financial Conduct Authority, FCA discontinues civil proceedings against Konstantinos Papadimitrakopoulos and Dimitris Gryparis.

HMRC, HMRC email updates, videos and webinars for money laundering supervision.

HM Treasury, Open consultation: Improving the effectiveness of the Money Laundering Regulations.

Interpol, INTERPOL Financial Fraud assessment: A global threat boosted by technology.

Joint Committee on the National Security Strategy, Response from HM Government’s to Committee’s Ransomware Inquiry.

Office of Financial Sanctions Implementation, Financial Sanctions Notice: Democratic People’s Republic of Korea.

Office of Financial Sanctions Implementation, Guidance: Who is subject to financial sanctions in the UK?

Office of Foreign Assets Control, Treasury Sanctions Companies and Individuals Advancing Russian Malign Activities in Africa.

Office of Foreign Assets Control, Treasury Designates Transnational al-Shabaab Money Laundering Network.

Office of Foreign Assets Control, U.S. Targets Al-Ashtar Brigades Operatives.

Office of Foreign Assets Control, Treasury Sanctions Primeiro Comando da Capital (PCC) Operative.

Organisation for Economic Cooperation and Development, Armenia, Azerbaijan, Moldova and Ukraine take promising steps to fight corruption but should improve enforcement and promote business integrity.

UK government, Global Fraud Summit Communiqué: 11 March 2024.

UK government, Wrongful Post Office convictions to be quashed through landmark legislation: 13 March 2024.

UK government, “Criminals should be aware” says Minister as Government upgrades AI fraud detection tool.

UK Parliament, Post Office (Horizon System) Offences Bill.

UK Parliament, The Russia (Sanctions) (Overseas Territories) (Amendment) Order 2024 No 370.

US State Department, Imposing Further Sanctions to Promote Peace, Security, and Stability in the West Bank.

Hello, and welcome to this week in financial crime. I’m your host, Chris Kirkbride. It has, as I would expect, between the Christmas and New Year period, been a quiet period for financial crime stories. Nevertheless, there are a few interesting tit-bits, including a significant comment from the CEO of Zurich, the global insurance company. Let’s crack on with it.

These are the links to the principal documents mentioned in the podcast:

The Guardian, Gibraltar: UK police asked to help with inquiry into alleged government corruption.