Question A client has instructed their financial service professional (e.g. solicitor) to purchase a property in Edinburgh which is to be funded partly by a building society mortgage, with the balance being provided by their parents who live in China. The client’s parents are insisting on sending the funds for the balance directly to me, […]
Read MoreMortgage Fraud, money laundering and drug trafficking.
Serious Organised Crime Agency v Pelekanos [2009] EWHC 2307 (QB) This was a case in which Court rejected SOCA’s claims that the defendant was guilty of money laundering and drug trafficking. However, the defendant was found guilty of a number of counts of deliberately providing false information about his income on mortgage application forms. The […]
Read MoreGuilty until proven innocent: the court assumes those without another income must be using ‘hot’ money
In the absence of any evidence of legitimate income, and where an individual has a substantial history of theft and drug offences, the High Court has taken the view (Serious Organised Crime Agency v Turrall) that items of property have been purchased with the proceeds of crime. Such items are, therefore, recoverable under s.266 of […]
Read MoreComsure workshop on threats from organised crime
The threat to Jersey’s finance industry from organised criminal enterprises will be discussed in a unique business workshop on 20th June. Former Director General of SOCA (Britain’s Serious Organised Crime Agency) and the National Crime Squad, William (‘Bill’) Hughes CBE, QPM (pictured), will be hosted in Jersey by Comsure to share his knowledge on combatting […]
Read MoreGuest Speaker [Sponsored By Comsure] confirmed for ICSA Jersey Annual Gala Dinner
William (‘Bill’) Hughes, CBE, QPM, former senior law enforcement officer and Director General of the Serious Organised Crime Agency, will be the guest speaker at the ICSA Jersey Annual Gala Dinner in June 2013. His visit to Jersey (his first) is sponsored by Comsure. The annual black tie dinner will be held at the Hotel […]
Read MoreGuidance on submitting a Suspicious Activity Report
The Serious Organised Crime Agency has published a guide on the submission of Suspicious Activity Reports (SARs) within the regulated sector. The document seeks to complement the Money Laundering Regulations in providing advice and guidance on best practice when persons in the regulated sector are required under Part 7 of the Proceeds of Crime Act […]
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