A new scheme is being piloted to give police and other law enforcement agencies access to information held on HMRC’s Money Service Business (MSBs) register. Under the scheme each month agencies will be given details of all Money Service Businesses in their area held on the MSB register.
Under the Money Laundering Regulations businesses need to carry out customer due diligence on their customers. This involves asking to see documentary evidence of a customer’s identity.
The ICAEW has made the following regulatory decision in a case for a failure to verify a client in accordance with the Money Laundering Regulations.
The ICAEW made has made a regulatory decision in a case for a failure to make a suspicious activity report in a timely basis
The Government recognises the crucial importance of individual giving and charitable donations at times of humanitarian crisis such as the Pakistan floods and therefore understands and values people’s desire to give money. This underlines the importance of knowing that money sent with best intentions is not inadvertently finding its way into the wrong hands.
A London Chartered accountant faces eight years behind bars after being convicted of manipulating both his clients’ and his own tax returns, pocketing £11m in income tax and VAT payments.
The new Dutch Crimestoppers operation saw the arrest of its first target yesterday.
James Vincent Muldoon, 30, of Liverpool, absconded from his trial for armed robbery in 2007 and was sentenced in his absence to 13 years in prison.
Thousands of pounds confiscated from criminals have been donated to an allotment project in Greater Manchester.
Fraud losses cost the UK £30bn a year. The National Fraud Authority (NFA) has calculated the figure for the first time and said it equated to £621 per adult in the UK. Some 58% of fraud was in the public sector, at a cost of £17bn
A 35-year-old Hunslet man has been arrested on suspicion of money laundering as part of an investigation involving the City and Holbeck Proceeds of Crime Team and the Holbeck Neighbourhood Policing Team (NPT).