Welcome to Financial Crime Watch, our quarterly review of developments in financial crime, regulatory updates and relevant cases, brought to you by Browne Jacobson’s Criminal Compliance and Regulatory Team.
In each issue, we feature publications and announcements relating to fraud, bribery, sanctions and money laundering, as well as regulatory compliance. We look at the implications for our clients inside the financial services sector and beyond.
In this edition, amongst other news, we look at the Home Office’s new Fraud Strategy 2023, the Economic Crime Plan 2023-2026 and the government’s response to the House of Lord’s committee report on the Fraud Act 2006. We also report on recent updates to the case law on sanctions, including LLC Synesis v SS for Foreign, Commonwealth and Development Affairs  EWHC 541 (Admin) and R v Bluu Solutions Limited and Tetris Projects Limited.
We hope you find our publication interesting and useful.
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The downfall of Vesttoo: Fraudulent letters of credit
Failure to prevent fraud: how can my organisation prepare?
Fraud Strategy: Stopping Scams and Protecting the Public
The House of Lords Fraud Act 2006 and Digital Fraud Select Committee Report
Sanctions round-up - May 2023
SFO secures first conviction for individual connected to Deferred Prosecution Agreement
Fraud – early success for the SFO
Legal Update - Financial Crime Watch
Financial Crime Watch - May 2023
FCA warns that vulnerable to scams amid cost of living crisis
Draft Bill published to establish a Register of Overseas Entities
The Government has this week published the Economic Crime (Transparency and Enforcement) Bill as part of its measures to crack down on foreign criminals using property in this country to launder money. The Bill proposes the establishment of a Register of Overseas Entities to be maintained by Companies House.