Financial Crime Weekly Episode 81

Hello, and welcome to episode 81 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. It has been a bumper week for financial crime news this week, with all areas competing to outperform one another in terms of producing the most volume of material. Leading the way in a fairly packed field are fraud and sanctions stories, but there is also a good deal of money laundering news, as well as a host of content on cyber-attacks. I guess it’s just been one of those weeks. Let’s pray that it all settles down next week.

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

Cabinet Office, Data Usage Agreement: National Fraud Initiative HMRC and local authority counter-fraud pilot.

Committee on Ways and Means, Five Key Moments from Oversight Subcommittee Hearing on Pandemic Fraud.

Department for Business and Trade, DBT response to the Post Office Horizon IT inquiry's first interim report: compensation.

Department for Science, Innovation and Technology, Frontier AI: capabilities and risks – discussion paper.

England and Wales High Court (Administrative Court) Decision, Fridman, R (On the Application Of) v HM Treasury [2023] EWHC 2657 (Admin) (26 October 2023).

Federal Financial Supervisory Authority, Money laundering prevention: BaFin imposes administrative fines on Deutsche Bank AG.

Federal Trade Commission, FTC Reports Outline Efforts to Combat Cross-Border Fraud and Ransomware Attacks.

Financial Action Task Force, Japan's progress in strengthening measures to tackle money laundering and terrorist financing.

Financial Action Task Force, Outcomes FATF Plenary, 25-27 October 2023.

International Criminal Court, Measures taken following the unprecedented cyber-attack on the ICC.

National Crime Agency, SARs in Action: Money Mules Special Edition.

National Trading Standards, 19 million lose money to scams but fewer than a third report.

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

Office of Financial Sanctions Implementation, Legal Services General Licence.

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

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

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

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

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

Office of Financial Sanctions Implementation, Frozen Assets Reporting (2023).

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, OFSI General Licence under the Russia Regulations and the Belarus Regulations INT/2023/3744968.

Payment Systems Regulator, Publishing APP fraud data: A guide for PSPs.

Serious Fraud Office, SFO completes £497.25m Deferred Prosecution Agreement with Rolls-Royce PLC.

Solicitors Regulation Authority, DKLM LLP Decision Notice.

UK Government, Robust new laws to fight corruption, money laundering and fraud (press release).

UK Government, Government response to the Law Commission’s review of confiscation.

UK Government, UK drives new international rules to claw back ill-gotten gains.

UK Parliament, Economic Crime and Corporate Transparency Act 2023: Royal Assent.

UK Statutes, Economic Crime and Corporate Transparency Act 2023.

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

US Department of Justice, Justice Department Files Civil Forfeiture Complaint Against $300 Million Superyacht.

World Economic Forum, Internet companies tackle the biggest ever denial of service attack.