Cocaine: Drug kingpin found guilty of smuggling £132m-worth into Britain disguised as ink April 24, 2024 Jonathan Strogylos was found guilty at Isleworth Crown Court this week after being identified as the ringleader of a large-scale illegal operation.
UK failing to fight ‘dirty money epidemic’ costing £350bn a year, MPs warn April 17, 2024 The UK is “utterly failing” to fight the “dirty money epidemic” that is costing £350bn a year, MPs have warned.
Why the ‘McMafia’ law failed to root out kleptocrats’ ill-gotten gains April 11, 2024 A legal tool designed to sniff out illicit wealth was meant to help rid the City of dirty money. But it hasn't quite delivered the results the government might have hoped for, Ben Lucas reports
Former Tottenham Hotspur owner Lewis set to be sentenced this week over insider trading April 1, 2024 The former owner of Tottenham Hotspur Joe Lewis is this week set to be sentenced after pleading guilty to insider trading in the United States. The 87-year-old Londoner is due to learn his fate on Thursday 4 April when his sentence is handed down by US district judge Jessica Clarke in New York. He pleaded [...]
City of London awash with drug money, top MPs warn November 10, 2023 Illicit profits from the drugs trade are being “washed” in the City of London, a group of senior MPs have warned.
Will the Economic Crime Act tackle the UK’s £350bn fraud issue? October 26, 2023 The government's legislation designed to tackle economic crime received royal assent today after months of back and forth between the House of Commons and the House of Lords.
Rishi Sunak: UK shouldn’t ‘rush to regulate’ AI despite dossier of dangers October 26, 2023 Rishi Sunak has said the UK “shouldn’t be in a rush to regulate” the development of artificial intelligence (AI) despite a dossier of potential dangers laid out by the government. The Prime Minister made a speech on the risks and rewards of the new technology at the Royal Society this morning ahead of the UK’s [...]
Fraud ‘increasing national security threat’ thanks to AI, Lord Mayor warns September 5, 2023 Fraud is increasingly a threat to “national security” as advances in artificial intelligence serve to boost the chances of scammers, the Lord Mayor has warned. Nicholas Lyons, Lord mayor of the City of London, told the International Symposium on Economic Crime in Cambridge that addressing economic crime “must be seen as a foundation for a [...]
MPs criticise government for ‘dragging feet’ over Economic Crime Bill September 5, 2023 MPs have criticised the government for “dragging its feet” over the Economic Crime Bill, after a string of measures aiming to toughen up dirty money protections were voted against or watered down. Peers had passed a series of amendments to the legislation aimed at fighting back against economic crime, fraud and illicit wealth prior to [...]
Financial crime fines fall 88 per cent globally – but agencies aren’t about to go easy on wrongdoers August 24, 2023 The total value of fines handed out to banks and financial services firms for financial crime violations slumped in the first half of this year, according to new data. But experts argued regulators aren’t going easy on wrongdoers. According to data from compliance firm Fenergo, regulators worldwide issued 97 financial crime-related fines in the first [...]