Unexplained Wealth Order focuses on London mansion – BBC News
‘A high-security mansion on one of London’s most exclusive roads is the target of the UK’s latest use of Unexplained Wealth Orders (UWOs).’
BBC News, 10th March 2020
Source: www.bbc.co.uk
Category: money laundering
Tommy Adams ordered to repay £1.24m for dirty cash laundering operation – Crown Prosecution Service
‘Thomas “Tommy” Adams has been ordered to repay £1,243,270.75 for his part in a dirty cash laundering network. Adams ran a money laundering operation with his associates, which was foiled in 2014 when undercover police heard him discussing the illicit activity at a central London café.’
Crown Prosecution Service, 27th February 2020
Source: www.cps.gov.uk
“The Magnitsky Act – What Now for the Future in the UK” An Article by Lesley Manley – Church Court Chambers
‘The “Magnitsky Act” is a trailblazing piece of legislation enacted by the United States. Lesley Manley looks at developments thus far in the UK and considers how the UK jurisdictions will proceed following the withdrawal from the European Union.’
Church Court Chambers, 26th February 2020
Source: churchcourtchambers.co.uk
SRA money laundering supervision to extend to tax advice – Legal Futures
‘The Solicitors Regulation Authority (SRA) could face a cash shortage if the new anti-money laundering (AML) rules increase the number of firms it supervises, it has warned.’
Legal Futures, 18th February 2020
Source: www.legalfutures.co.uk
Lessons learned from account forfeiture proceedings (NCA v Vlad Luca Filat) – 5 SAH
‘The Crown Court dismissed Vlad Luca Filat’s appeal against the decision to forfeit £500,000 held in three bank accounts in his name. The court held that the money derived from bribery and corruption offences committed by the appellant’s father, the former prime minister of Moldova, and was obtained by money laundering. The case was the National Crime Agency’s first contested account forfeiture application. James Fletcher, barrister at 5SAH Chambers, who appeared for the National Crime Agency, suggests that these types of applications are likely to be deployed more and more often.’
5 SAH, 14th January 2020
Source: www.5sah.co.uk
UK courts “under attack” from Russian manipulation – Litigation Futures
‘The corrupt leaders of Russia are manipulating courts and tribunals around the world – with a particular focus on the UK – with “blatant lies, forged documents, and utterly implausible explanations”, it was claimed today.’
Litigation Futures, 13th January 2020
Source: www.litigationfutures.com
Jailed solicitor must repay £3m or face more prison time – Legal Futures
‘A jailed solicitor involved in the UK’s biggest ever tax fraud must repay £3m of his ill-gotten gains or face a further nine years in prison, a judge at the Old Bailey has ruled.’
Legal Futures, 18th December 2019
Source: www.legalfutures.co.uk
Criminal Finance Act 2017: Crime still doesn’t pay – 5SAH
‘Financial gain provides the motivation behind all serious and organised crime. Billions of pounds are laundered through the UK every year. Understandably, it has long been the government’s policy to implement effective legislation to tackle this issue.’
5SAH, 2nd December 2019
Source: www.5sah.co.uk
Hawala: why it is used and what family practitioners should know about it – Family Law Week
‘Byron James, Partner and Head of Expatriate Law in Dubai, explains the challenges presented to family lawyers by the effective method of anonymous international money transfer system used around the world.; why and what family practitioners should know about it.’
Family Law Week, 20th November 2019
Source: www.familylawweek.co.uk
Bart Casella writes about Unexplained Wealth Orders and changes to applications for Account Freezing Orders – 23 Essex Street
‘Before UWOs came into force on 31 January 2018, I provided seminars to solicitors on the potentially far reaching effects that the orders could have, including on mortgagees and trustees of property held by individuals who qualified for an order or in relation to enforcement by HMRC in respect of inappropriate tax planning. The reality is that the investigating authorities in the UK have thus far concentrated on the ‘low hanging fruit’.’
23 Essex Street, 4th November 2019
Source: www.23es.com
Dozens of law firms enabling corruption, report finds – Legal Futures
‘Dozens of UK law firms are – wittingly or unwittingly – providing corrupt individuals with services that enable them to “move, hide and defend their ill-gotten gains with impunity”, Transparency International (TI) has claimed.’
Legal Futures, 25th October 2019
Source: www.legalfutures.co.uk
Former milkman sentenced for money laundering – Crown Prosecution Service
‘A former milkman who got into financial difficulties has been sentenced for money laundering.’
Crown Prosecution Service, 26th September 2019
Source: www.cps.gov.uk
Solicitor General’s speech at Cambridge Symposium on Economic Crime 2019 – Attorney General’s Office
‘The Solicitor General discusses some of the UK’s key successes in tackling economic crime and the UK government’s ambitious Economic Crime Plan.’
Attorney General’s Office, 2nd September 2019
Source: www.gov.uk/ago
Ladbrokes Coral fined after customer lost £98,000 – BBC News
‘The owner of Ladbrokes Coral has been fined £5.9m for not protecting vulnerable customers and for failings in its anti-money laundering measures.’
BBC News, 31st July 2019
Source: www.bbc.co.uk
Government criticised for giving banks key oversight role over fraud and money laundering policy – The Independent
‘Government plans to combat money laundering, fraud and other economic crimes have come under fire for allowing banks that have previously been implicated in wrongdoing to play a key role in writing the new rules.’
The Independent, 13th July 2019
Source: www.independent.co.uk
Fears UK law change could prevent scrutiny of money launderers – The Guardian
‘Plans to introduce laws in Britain to combat money laundering could prevent the media and researchers from accessing vital information on the tide of dirty cash flowing around the world, campaigners and journalists have warned.’
The Guardian, 9th July 2019
Source: www.theguardian.com
Man jailed for laundering more than £10m through Jewish charity – The Guardian
‘A man has been jailed for almost 10 years for selling counterfeit erectile dysfunction and slimming pills and laundering more than £10m through bank accounts linked to a Jewish charity.’
The Guardian, 5th July 2019
Source: www.theguardian.com
City council secures £350k in compensation for victims defrauded by local plumbing companies – Local Government Lawyer
‘The victims of two plumbing companies who defrauded their clients have been fully compensated for their financial losses, after Southampton City Council prosecuted the individuals involved.’
Local Government Lawyer, 4th July 2019
Source: www.localgovernmentlawyer.co.uk
Inside the 21st-century British criminal underworld – The Guardian
‘There are almost 5,000 criminal gangs in the UK. But the old family firms are gone – today’s big players are multinational, diversified and tech-savvy.’
The Guardian, 4th July 2019
Source: www.theguardian.com
