Drugs boats fraud woman sentenced – BBC News
“A mother-of-three, whose business made more than £20m from selling high speed boats to drugs cartels, has been given a two-year suspended prison sentence.”
BBC News, 5th March 2009
Source: www.bbc.co.uk
Category: money laundering
FSA fines manager in anti-money laundering failure – The Times
“The Financial Services Authority (FSA) has fined a senior manager of Sindicatum Holdings, the financial advisory and asset management firm, nearly £20,000 for failing to have adequate anti-money laundering controls in place.”
The Times, 29th October 2008
Source: www.timesonline.co.uk
Regina v Mehta; Regina v Sharman; Regina v Reardon; Regina v Ratcliff – Times Law Reports
Regina v Mehta; Regina v Sharman; Regina v Reardon; Regina v Ratcliff
Court of Appeal (Criminal Division)
“Money-launderers who offered a service to numerous criminals via bureaux de change or hawala banking were often as culpable as the criminals generating the money, if not more so, and often more culpable than those who handled the proceeds of a particular fraud.”
The Times, 3rd October 2008
Source: www.timesonline.co.uk
Please note the Times Law Reports are only available free on Times Online for 21 days from the date of publication.
Canoeist wife launches appeal bid – BBC News
“Anne Darwin, the wife of canoeist John Darwin, has lodged an appeal against her conviction and sentence for fraud and money laundering.”
BBC News, 12th August 2008
Source: www.bbc.co.uk
Six jailed after laundering £15m – BBC News
“Six businessmen have been jailed for laundering more than £15m stolen from NatWest bank.”
BBC News, 7th August 2008
Source: www.bbc.co.uk
Church conmen jailed for £3.2m swindle of faithful – The Times
“A gang of Seventh-Day Adventists who conned millions of pounds from fellow churchgoers to fund a life of wild extravagance have been jailed.”
The Times, 11th March 2008
Source: www.timesonline.co.uk
Good intentions going up in smoke? – The Times
“It is only just over six weeks since the new regime came into force — but already cracks have begun to emerge in the regulations to clamp down on money laundering by fraudsters and terrorists. The regime is proving costly to implement and risks catching innocent people in its net. But is it proving its worth?”
The Times, 29th January 2008
Source: www.timesonline.co.uk
Believers lost “lost £3million to Christian conmen” – The Times
“A gang of Seventh-Day Adventists in London conned their fellow churchgoers into giving them millions of pounds to invest, which they then spent on luxury flats, holidays and cars, a court was told yesterday.”
The Times, 9th January 2008
Source: www.timesonline.co.uk
Corrupt lawyer to drug world is facing prison – The Times
“A corrupt solicitor who was at the heart of a criminal network that made multimillion-pound profits from the heroin trade will be jailed today.”
The Times, 5th December 2007
Source: www.timesonline.co.uk
New anti-laundering rules prove ineffective – The Lawyer
“The move to a risk-based approach to anti-money laundering regulation has yielded little fruit, according to new research.”
The Lawyer, 3rd September 2007
Source: www.thelawyer.com
When e-money providers must verify identity: new guidance – OUT-LAW.com
“The Joint Money Laundering Steering Group (JMLSG) has published draft amended guidance for electronic money. It covers products that are card-based as well as those that are entirely software-based.”
OUT-LAW.com, 28th August 2007
Source: www.out-law.com
New money laundering rules will lead to more red tape, law firms warn – The Times
“Regulations set to come into force in December will be costly and could lead to a drop in competitiveness, according to a survey.”
The Times, 26th July 2007
Source: www.timesonline.co.uk
Government toughens Money Laundering Regulations – HM Treasury
“Today the Economic Secretary, Kitty Ussher, published new tough and targeted Regulations to fight Money Laundering and Terrorist Financing. The Money Laundering Regulations, which will come into effect on the 15th December, are designed to ensure the UK response to money laundering at home and abroad is effective and proportionate.”
HM Treasury press release, 25th July 2007
Source: www.hm-treasury.gov.uk
Ordre des barreaux francophones et germanophones and Others v. Conseil des Ministres (Conseil des barreaux de l’Union europeénne and Ordre des avocats du barreau de Liège, interveners) – Times Law Reports
Obligation on lawyers to help combat money laundering
Court of Justice of the European Communities
“Advice and assistance given by lawyers in financial and real estate transactions that had no link with judicial proceedings were not exempt from the duty to cooperate in combating money laundering.”
The Times, 2nd July 2007
Source: www.timesonline.co.uk
Please note the Times Law Reports are only available free on Times Online for 21 days from the date of publication.
Exile Berezovsky stays in London as Moscow puts him on trial – The Guardian
“The former oligarch and arch-critic of the Kremlin Boris Berezovsky is to go on trial in Moscow today accused of money laundering and embezzlement, in a case likely to put further strain on UK-Russian relations. Mr Berezovsky will be tried in absentia on charges of embezzling 214m roubles (£4.12m) from the Russian state-owned airline Aeroflot. The tycoon, who has lived in self-imposed exile in London since 2001, has refused to attend.”
The Guardian, 2nd July 2007
Source: www.guardian.co.uk
Law Society wins money laundering review – The Lawyer
“The Law Society has won another battle in its war to change the draft money laundering regulations causing headaches among City lawyers.”
The Lawyer, 5th June 2007
Source: www.thelawyer.com
Treasury backs down on money laundering rules – The Times
“The Treasury has agreed to reconsider its draft anti money laundering regulations after the European Commission backed a Law Society campaign calling for rules to be relaxed.”
The Times, 4th June 2007
Source: www.timesonline.co.uk
Regina (UMBS Online Ltd) v Serious Organised Crime Agency and Another – Times Law Reports
Customer entitled to seek review
Regina (UMBS Online Ltd.) v. Serious Organised Crime Agency and Another
Court of Appeal
“The Serious Organised Crime Agency, a powerful statutory body whose decisions could imperil private and business banking activity on no more than a reported suspicion of money-laundering, should not withhold giving consent to a bank to allow it to operate a customer’s account under section 335 of the Proceeds of Crime Act 2002 without good reason.”
The Times, 15th May 2007
Source: www.timesonline.co.uk
Please note the Times Law Reports are only available free on Times Online for 21 days from the date of publication.
Online communities face money-laundering – Daily Telegraph
“Anti-Fraud experts are calling on the Government to start regulating virtual online communities amid fears that criminals and terrorists could use them to launder money.”
Daily Telegraph, 14th May 2007
Source: www.telegraph.co.uk
