Financial Crime Weekly Episode 57

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.