Financial Crime Weekly Episode 45

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.