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FCA expands the APP fraud synthetic dataset, with new scam types, enhanced consumer profiles & advanced insights to boost fraud detection and compliance

by Jyotsna Bucktowar | Mar 12, 2025

With £485 m lost to APP fraud in 2022, these updates provide individuals with stronger data to develop fraud detection models and strengthen compliance efforts…

NCA Operation Venetic jails two for £190m cocaine trafficking, laundering illicit profits through famous ‘Hatton Garden’ gold merchant

by Jyotsna Bucktowar | Mar 7, 2025

The pair used the encrypted communications platform EncroChat to discuss their offending, with Byrne using the handles ‘slickvalley’ and ‘officialcleaner’ and Devlin known as ‘scalpcleaner’. EncroChat messages showed that the pair...

FCA strengthens FG21/1 Guidance to enhance protections for vulnerable consumers amid rising fraud and financial crime

by Jyotsna Bucktowar | Mar 7, 2025

The FCA’s updated FG21/1 guidance on fair treatment of vulnerable consumers – particularly timely given the rising exploitation of vulnerable individuals by fraudsters. The FCA outlines 4 key drivers of vulnerability that heighten risks, including Health –...

FCA bans two former Credit Suisse Managing Directors for integrity failings after arranging corrupt loans to Mozambique and taking over $50m in kickbacks

by AdrianaAMLP | Mar 5, 2025

In 2019, Andrew Pearse and Surjan Singh pleaded guilty in the US to money laundering, admitting to taking over $50M in kickbacks from corrupt Mozambique loans. In 2021, the FCA fined Credit Suisse £145M as part of a $475M global settlement for due diligence failures...

FCA secures first UK sentence for unregistered crypto activity: Olumide Osunkoya gets 4 years for operating £2.5m in illegal crypto ATM Network

by Jyotsna Bucktowar | Feb 28, 2025

Operating under the company GidiPlus Ltd, Osunkoya continued to run crypto ATMs at multiple locations despite being denied FCA registration. He was convicted of multiple charges, including forgery and possessing criminal property. The FCA continues to tackle illegal...
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Recent Posts

  • UK’s new ‘Failure to Prevent Fraud’ offence takes effect 1 Sept 2025 – making organisations liable if an employee, agent, subsidiary, or other third party commits fraud for their benefit
  • AUSTRAC’s new AML/CTF Rules 2025, effective in phases from 31 March and 1 July 2026, strengthen obligations for reporting entities and new sectors, boosting efforts to detect and combat ML/TF risks
  • FinCEN issues Advisory and Financial Trend Analysis highlighting how Chinese ML networks are moving cartel-linked illicit funds through U.S. banks and informal transfer channels
  • Dutch Central Bank (DNB) fines Neobank Bunq €2.6M  for serious deficiencies in its AML controls during the period under review, from Jan 2021 to May 2022
  • GI-TOC analysis warns by 2035, the Western Balkans could become a nexus for cybercrime, combining blockchain and AI innovation with organised crime in “criminal states” and resource-scarce markets

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