Three men involved in a money service business that British prosecutors said was used to illegally transfer tens of millions of pounds of criminal proceeds, pled not guilty to money laundering charges in a London court Tuesday.
The man who chaired Barclays PLC during the financial crisis told a jury in London on Tuesday that he was concerned the bank could appear "too clever by half" in its attempts to raise capital from a group of investors as it sought to avoid a bailout by the U.K. government.
Estonia’s financial regulator ordered Danske Bank A/S on Tuesday to shut down its operations in the country within eight months after revelations that the Baltic state was at the center of the lender’s alleged €200 billion ($226 billion) money laundering scandal.
A prolific fraudster who allegedly processed more than £6 million ($7.8 million) of dirty cash using devices described as a “money launderer’s treasure trove” has been convicted after an attempted hack on a top auction house, a U.K. law enforcement agency has said.
Europe’s top banking watchdog announced Tuesday it is investigating whether Danish and Estonian banking regulators failed in their obligations to properly supervise Danske Bank A/S, which is currently embroiled in one of the world’s largest money laundering scandals.
The former finance director of a travel agency has been disqualified for 11 years after he misappropriated more than £700,000 ($905,000) of company cash to pay for loss-making bets in foreign-exchange markets, a government agency said on Monday.
U.K. lawmakers labeled Facebook and its executives as "digital gangsters" in a scathing report issued Monday and called for regulators to police social media companies to stop fake news from skewing public perception of issues of national importance, including the Brexit campaign.
An actress who starred in a Playboy film has been sentenced for fraud after failing to disclose a previous conviction for falsely claiming £44,000 ($57,000) in benefits when she applied for multiple new insurance policies, City of London Police said Monday.
The U.K.'s data protection and financial watchdogs revised their promise to work together on Monday, agreeing to share information that either agency uncovers during an investigation as long as it complies with new European data protection rules.
Germany’s financial regulator introduced a two-month short-selling ban on shares in Wirecard AG on Monday after reports about alleged fraud committed at its Singapore arm sent the payments company's stock plummeting, threatening to destabilize the broader German stock market.
The European Union’s top securities regulator said on Monday that it will allow three British-based securities clearinghouses to continue serving the bloc’s financial businesses for a year in the event of a “no deal” Brexit on March 29, in a move aimed at containing potential market turmoil.
Two men convicted of stealing nearly £80 million ($102 million) from London investors — money they spent on boats, property and cars — tried to convince a London judge Friday that none remained to be confiscated, with one defense attorney saying his client “was not reticent” in his spending.
A Polish banker accused of submitting a phony letter exonerating himself in order to avoid being extradited from the U.S. to face forgery charges in Poland won a month's delay from a Brooklyn federal magistrate judge on Friday, with the court asking Polish prosecutors to be a bit more clear about their evidence first.
A British currency trader convicted of conspiracy to launder money in a scheme that defrauded foreign tax authorities of £17.5 million ($22.5 million) was not entitled to relief on a confiscation order, an English appeals court said Friday.
The last week has seen the European arm of a Japanese investment bank sue a Saudi billionaire, the former prime minister of Qatar face action involving a pricey mansion and a Swiss bank file claims against executives of a defunct business group being investigated by the U.K.'s fraud watchdog. Here, Law360 looks at those and other new claims in the U.K.
An English appeals court on Friday upheld the Competition and Markets Authority’s £130,000 ($167,000) fine against a steel water tank manufacturer for illegally exchanging price information, saying it could find no basis for criticizing the penalty that the CMA had imposed.
A London judge refused on Friday to lift restrictions on a U.K. asset manager that prevent it from defending itself against allegations it defrauded a unit of a property investment group in the Czech Republic, calling its excuses for failing to meet a court order “highly unsatisfactory.”
The U.K. government said Friday it will invest £13 million ($16.6 million) into dozens of new artificial intelligence and data analytics projects that include efforts to tackle the billions of pounds' worth of insurance fraud that takes place in the country each year.
Germany’s financial regulator announced Friday it has ordered an independent investigator to subject Deutsche Bank’s role in a money laundering scandal involving Danish lender Danske Bank to closer scrutiny.
A British judge on Thursday refused to postpone closing arguments in a confiscation proceeding against two company executives who operated a Ponzi scheme that bilked London investors out of nearly £80 million ($102 million).