London is a global haven for criminal financial activity – with billions of pounds laundered through British banks each day, according to the head of the UK’s National Crime Agency. “Many hundreds of billions of pounds of criminal money is almost certainly laundered through UK banks and their subsidiaries each year,” Keith Bristow the head […]

It has been reported that Oppenheimer & Co. (a subsidiary of Oppenheimer Holdings Inc.) is paying $20 million in civil settlements with U.S. regulators who accused the investment firm of improper sales of penny stocks and inadequate controls against money laundering. The facts reported are as follows: The investment firm agreed to pay $10 million […]

Serious Crime Bill 2014 As some readers will be aware, the House of Commons is currently considering the Serious Crime Bill 2014 (the “Bill”), which proposes amendments to various pieces of existing criminal legislation, including the Proceeds of Crime Act 2002 (“POCA”). Serious Crime Bill 2014 http://bit.ly/1upvzAj On 8 January 2015, Karen Bradley MP (Minister for […]

At least 1 000 individuals and companies have attracted Indian markets regulator Sebi’s attention for allegedly using stock markets to evade taxes and launder money through companies mostly existing on paper, notes a report in The Economic Times. It says Sebi is focusing on securities market related violations by these individuals and companies, who have […]

Bitcoin’s main problem is that every transaction is public. Such a feature makes it difficult to launder stolen bitcoins. Take this $5m thief as the example. The person controlling 19,000 of Bitstamp’s coins has a problem. Anyone can follow the coins as they move between addresses. Lucky for them (or not as we’ll see), there […]

MUMBAI: At least 1,000 individuals and companies have come under markets regulator Sebi’s scanner for allegedly using stock markets to evade taxes and launder money through companies mostly existing on paper. Sebi is focusing on securities market related violations by these individuals and companies, who have used trading in at least 25 listed companies to […]

MUMBAI: In its biggest ever crackdown for suspected tax evasion and laundering of black money through stock trading platforms, Sebi today barred 260 entities, including individuals and companies, from the securities markets. While Sebi would further probe these cases, it has also decided to refer the matter to the Income Tax Department, Enforcement Directorate, Financial […]

SRA v Kamran Malik Summary: The Respondent was convicted of multiple counts of conspiracy to conceal/disguise/convert/transfer/remove criminal property in a ‘well-planned and systematic multi-million pound fraud against a number of financial institutions’ which the Respondent carried out with another person. The total sum generated by the fraud was £1,736,000. On 6 February 2014 the Respondent […]