The UK National Crime Agency is to launch a dedicated ‘crypto cell’ to focus on fraud related to crypto currency and virtual assets. According to figures released by Action Fraud £226m was stolen from investors by scammers in the year to 30 September 2022!
The UK Financial Conduct Authority (FCA) has fined Santander over £100 million because of failures in its Anti-Money Laundering processes.
Between December 2012 and October 2017, the FCA found that the bank had ineffective systems to verify information and failed to properly oversee and manage its AML systems, which adversely affected impacted oversight of more than 560,000 business accounts.
Washington based Global Financial Integrity (GFI) reports that Private Investment Funds in Latin America run the risks of Money Laundering & Corruption.
The report titled ‘Private Investment Funds in Latin America’ uses a series of case studies to show how money laundering, corruption and organised crime risks exist in private investment funds in Latin America.
