Four Hongkongers were arrested as police cracked a money laundering racket involving a staggering HK$1.8 billion. In February 2012, police received reports from two firms in Sweden and the Netherlands saying someone had posed as their business partners in emails and asked them to deposit payments into a Hong Kong bank account of a […]
Read MoreDuncan Bannatyne’s former finance director charged with fraud and money laundering
Dragons’ Den star Duncan Bannatyne’s former finance director has now been charged with fraud and money laundering. A finance director who worked for Dragons’ Den star Duncan Bannatyne’s group of companies, which are based in Darlington, has been charged with fraud and money laundering totalling almost £8 million. The Crown Prosecution Service has confirmed that […]
Read MoreEight convicted for role in unauthorised collective investment scheme
Eight convicted for role in unauthorised collective investment scheme have been dealt to eight individuals for operating in an illegal investment scheme. The convicted parties used mis-leading and manipulative sales tactics in order to sell agricultural land that was either not owned and/or bought for minimal amounts by the companies involved. This lead customers to […]
Read MoreReview of 2014 amendments to substantive offences under Proceeds of Crime Law
Introduction The reform of Jersey’s anti-money laundering (AML) practices and laws has been high on the legislative agenda, particularly after Jersey became a member of the Committee of Experts on the Evaluation of Anti-money Laundering Measures and the Financing of Terrorism (Moneyval) in 2012. Moneyval is the EU body tasked with ensuring that member states […]
Read MoreJFSC update Part 4: Section 1 of the AML Handbook Feb 2015
The JFSC have issued an update to Part 4: Section 1 Handbook for regulated financial services businesses [Effective from: 26 February 2015] in regards to the Proceeds of Crime (Jersey) Law 1999 – Schedule 2 (Article 36(1) and (2)) – Financial Services Business http://bit.ly/1DgEPKx
Read MorePersistence pays off as NCA recovers more than $7m of illegal profits
Following a Recovery Order first granted by the High Court in May 2013, the National Crime Agency has today recovered more than $7m from an alleged international fraudster and money launderer. In the civil recovery application the NCA submitted that Mr. Hakki Yaman Namli, who resides in Turkey, was involved in fraud on an international […]
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