Financial Crime Weekly Episode 55

Hello, and welcome to episode 55 of the Financial Crime Weekly Podcast, I’m your host, Chris Kirkbride. It’s a bumper edition this week, with even a bit of a pick-up in the sanctions news. There are a couple of fraud reports out this week, and the Wolfsberg Group has published an update to it anti-bribery and corruption guidance. There’s a bit on money laundering, and market abuse, and we end with the usual review of the week’s cyber-attack news. Let’s crack on.

These are the links to the principal documents mentioned in the podcast:

European Commission, Opening remarks by Commissioner McGuinness at the European Parliament plenary joint debate on crypto-assets.

European Commission, Cyber: towards stronger EU capabilities for effective operational cooperation, solidarity and resilience.

European Parliament, Bureau adopts first decision on strengthening transparency and accountability.

European Parliament, REPORT on the proposal for a regulation of the European Parliament and of the Council on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing (Report - A9-0151/2023).

European Parliament, Stopping the flow of dirty money: Parliament ready for negotiations.

European Parliament Legislative Observatory, Markets in Crypto-assets (MiCA).

European Union Anti-Fraud Programme, Call for proposals.

European Union, European Union Funding and Tenders Portal.

European Union, European Union Funding and Tenders Portal Online Manual.

Feedzai, The Human Impact of Fraud and Financial Crime on Customer Trust in Banks.

FieldFisher, New package of UK Sanctions on Russia.

International Association of Insurance Supervisors, Global Insurance Market Report, Cyber Special Topic Edition: Cyber.

International Association of Insurance Supervisors, IAIS GIMAR special topic edition provides assessment of cyber risks in the insurance sector and financial stability implications (press release).

Office of the Superintendent of Financial Institutions, OSFI releases new framework to strengthen financial institutions’ resilience to cyber-attacks.

Solicitors’ Regulation Authority, Sanctions questionnaire.

The Wolfsberg Group, Publication of the ABC Guidance (press release).

The Wolfsberg Group, Wolfsberg Anti-Bribery and Corruption Compliance Programme Guidance.

The Wolfsberg Group, Wolfsberg Anti-Bribery and Corruption Compliance Programme Guidance (Executive Summary).

UK Department for Business and Trade, NTE 2023/07: sanctions against Russia introduced in April 2023.

UK Finance, New figures show £177.6m was lost to impersonation scams in 2022 as take five to stop fraud issues warning to the public.

UK Insolvency Service, Tough action taken against company directors for COVID-19 financial abuse (press release).

UK Insolvency Service, Enforcement Outcomes 2022/23.

UK Legislation, The Counter-Terrorism (Sanctions) (EU Exit) Regulations 2019 No 577.

UK Legislation, The Russia (Sanctions) (EU Exit) (Amendment) Regulations 2023.

UK National Crime Agency, SARs in ACTION.

UK Office of Financial Sanctions Implementation, Financial Sanctions Notice: Counter-Terrorism (Domestic) (Nazem Ahmad).

UK Office of Financial Sanctions Implementation, Financial sanctions: guidance (updated).

UK Office of Financial Sanctions Implementation, Financial sanctions targets: list of all asset freeze targets.

UK Office of Financial Sanctions Implementation, OFSI General Licence INT/2023/2883496 (Lithuanian Railways).

UK Office of Financial Sanctions Implementation, High Value Dealer Guidance.

UK Office of Financial Sanctions Implementation, Financial Sanctions Notice (21/04/23).

UK Office of Financial Sanctions Implementation, Financial Sanctions Notice (Global Human Rights)(21/04/23).

Ukraine government, УКАЗ ПРЕЗИДЕНТА УКРАЇНИ №227/2023.

US Department of Justice, President of Metalhouse LLC Indicted for Sanctions Evasion and International Money Laundering.

US Department of Justice, Brooklyn Federal Correctional Officer Charged with Bribery.

US Department of Justice, Businessman Pleads Guilty to Bribing City of Atlanta and DeKalb County Officials to Obtain Contracts.

US Department of Justice, Construction Company Owner Sentenced to 78 Months in Prison and Ordered to Pay Nearly $1 Million in Restitution for Rigging Bids and Bribing a Public Official.

US Department of Justice, Former Venezuelan National Treasurer and Her Husband Sentenced in Money Laundering and International Bribery Scheme.

US Department of Justice, Justice Department Announces Nationwide Coordinated Law Enforcement Action to Combat COVID-19 Health Care Fraud.

US Department of the Treasury, Remarks by Assistant Secretary for Terrorist Financing and Financial Crime Elizabeth Rosenberg on DeFi Risk Assessment at the Atlantic Council.

US Department of the Treasury Office of Foreign Assets Control, Treasury Sanctions Procurement Network Supporting Iran’s UAV and Military Programs.

US Department of the Treasury Office of Foreign Assets Control, Treasury Sanctions Three Nicaraguan Judicial Officials Involved in Human Rights Abuses.

US Department of the Treasury Office of Foreign Assets Control, Treasury Disrupts International Money Laundering and Sanctions Evasion Network Supporting Hizballah Financier.

US Securities and Exchange Commission, SEC Charges Crypto Asset Trading Platform Bittrex and its Former CEO for Operating an Unregistered Exchange, Broker, and Clearing Agency.