Romance fraud has been on the rise during lockdown in the UK, as people are increasingly being scammed out of money by others who are pretending to pursue a relationship. According to a report from UK Finance, there was a 20% increase in bank transfer fraud linked to romance schemes in 2020 compared to 2019. […]
Banker jailed for manipulating interest rates to have criminal case reviewed
Tom Hayes, the first banker to be jailed for rigging interest rates, is due to have his conviction reviewed by the Criminal Cases Review Commission (CCRC), a body set up to review allegations of miscarriages of justice. In the 2015, the Serious Fraud Office (SFO) named Mr Hayes as the ‘ringmaster’ of an international conspiracy […]
Can Business Owners be Prosecuted for Fraud and other Crimes?
One of the main benefits of setting up a limited company is limited liability which means that the business is its own legal entity, separate from its directors and shareholders. In theory, this means that they cannot be personally pursued for the debts of the company, a concept sometimes poetically referred to as ‘the corporate […]
Fraud regarding claims under Coronavirus Government assistance measures
Concerns surrounding the legitimacy of matters such as Bounce Back Loans in the UK are growing, as it has been reported that an increasing number of shelf companies are being bought for the sole purpose of gaining access to the government backed scheme. The Bounce Back Loan Scheme was launched in May 2020, intending to […]
Director disqualification for manufacturer who abused loan agreements
A director of a manufacturing company has been banned from acting as a company director for 8 years after having been found to have wrongly diverted more than half a million pounds of business finance. The individual concerned was a director of a company supplying products for the construction industry. He was found to have […]
WeLeakInfo – 21 arrests made in cybercrime crackdown
21 people have been arrested across the UK as part of an operation which targeted the customers of the online criminal marketplace, WeLeakInfo. The National Crime Agency (NCA) coordinated the operation, which ran over five weeks and involved teams from across the Team Cyber UK network. WeLeakInfo was a site that hosted 12 billion stolen […]
Beware of Benefit Fraud Investigations – DWP Wising Up After Stopping £1 billion Scam
Being accused of benefit fraud is an extremely serious offence. If the Department for Work and Pensions (DWP) thinks that you have fraudulently received benefits and tax credits, you could face criminal prosecution, a lengthy prison sentence, and proceedings to confiscate your money under the Proceeds of Crime Act 2002. Benefit fraud has become a […]
Suspected Money Launderer Loses £10 million to Unexplained Wealth Order
A suspected major money launderer surrendered around £10 million worth of property after being served with an Unexplained Wealth Order (UWO) by investigators from the National Crime Agency (NCA). Leeds businessman Mansoor Mahmood Hussain is believed to have acted closely with gangsters and criminals, laundering their profits through a property empire that has been operating […]
Bounce Back Loan Fraud Could Cost UK Billions
Up to 60% of emergency pandemic loans made under the Bounce Back Loan Scheme are unlikely to ever be paid back, according to recent findings from the government’s spending watchdog. The Bounce Back Loan Scheme was launched in May 2020 in response to the COVID-19 pandemic and allows small and medium-sized businesses to borrow between […]
What is Furlough Fraud and Should Employers be Worried about it?
HMRC has started to take action against individuals and businesses over suspected ‘furlough fraud’ in relation to the Coronavirus Job Retention Scheme (CJRS). On Friday 10 July 2020, the first arrests were made, including the arrest of a man suspected of defrauding HMRC of £495,000. In addition to the arrests, authorities are seizing computers, other […]
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