Financial Crime Weekly Episode 60

Hello, and welcome to episode 60 of the Financial Crime Weekly Podcast, I’m your host, Chris Kirkbride. It’s been a decent week this week, which is good. 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:

Alix Partners, Why Honest, Open Communication Can Counter The Reputational Risks Of Cyber Attacks.

ContractorUK, What Capita’s cyber security breach likely means for IT contractors.

Crown Prosecution Service, Former boss of a City of London foreign exchange company is found guilty of an around £70m fraud.

Crown Prosecution Service, Numerous victims defrauded of nearly £4m in a complex investment scam.

European Central Bank, Card fraud in Europe declined notably in 2021 amid the implementation of regulatory measures.

European Parliament, MEPs vote to speed up the freezing and confiscation of criminal assets.

Gambling Commission, Skill On Net Limited faces £305,150 regulatory action (press release).

Gambling Commission, Skill On Net Limited Public Statement.

Joint Money Laundering Steering Group, JMLSG Guidance Part I – Consultation (press release).

Joint Money Laundering Steering Group, Consultation – May 2023.

UK Legislation, Criminal Justice Act 1993.

UK Legislation, The Insider Dealing (Securities and Regulated Markets) Order 2023 SI No. 582.

UK National Cyber Security Centre, NCSC joins partners to issue warning about China state-sponsored cyber activity targeting CNI networks.

UK Office of Financial Sanctions Implementation, Blog: Prior Obligations General Licence.

UK Office of Financial Sanctions Implementation, General licence - INT/2023/3024200.

UK Office of Financial Sanctions Implementation, Guidance: Prior Obligations General Licence.

UK Office of Financial Sanctions Implementation, Guidance: Financial sanctions, Counter-terrorism.

US Department of Defense, Fact Sheet: 2023 DoD Cyber Strategy.

US Department of Justice, San Diego Restaurant Owners Charged with COVID-Relief Fraud and Money Laundering.

US Department of Justice, Long Island Businessman Pleads Guilty to Multi-Million Dollar Covid-19 Loan Fraud.

US Department of Justice, West Virginia man sentenced for COVID fraud.

US Department of Justice, Tax Preparer And Client Charged With $13 Million Paycheck Protection Program Fraud Scheme.

US Department of Justice, U.S. Law Enforcement Disrupts Networks Used to Transfer Fraud Proceeds, Taking Over 4,000 Actions in Fifth Campaign.

US Department of Justice, Department of Planning and Permitting Supervisor Sentenced to 60 Months in Prison for Bribery Scheme.

US Department of the Treasury Office of Foreign Assets Control, Treasury Targets DPRK Malicious Cyber and Illicit IT Worker Activities (press release).