Financial Crime Weekly Episode 67

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.