An outsourced compliance service provider has warned of a new-style scam they have intercepted involving criminals impersonating the Solicitors Regulation Authority (SRA). The methodology involves individuals contacting law firms alleging to be from the SRA Read More
The legal sector in the UK has been warned to brace itself for an increase in fraud cases in 2023, following the largest ever fraud operation by the police, involving tens of thousands of suspected criminals Read More
Unexplained wealth orders (UWOs) were introduced four years ago to help tackle the problem of money laundering by high-net worth individuals, often with foreign and political connections. The concept of recovery of criminal proceeds has Read More
A consultation from the Payment Systems Regulator could see legislation introduced forcing banks to refund those affected by authorised push payment (APP) fraud. APP fraud is typically perpetrated by criminals impersonating trusted individuals and organisations Read More
Money laundering costs the British economy around £37 billion each year. And with the legal sector under increasing scrutiny (and SRA site visits happening right now) it’s something firms should be placing front and centre Read More
New data from recent reports suggests that despite increased warnings to businesses and individuals to review cyber security measures, phishing scams and nuisance attacks are on the rise. A report released by the UK’s Read More
Law firm Pinsent Masons confirms that HMRC opened 3,574 investigations into Inheritance Tax (IHT) in 2020-21 resulting in £254 million in revenue. The firm also revealed that more people are now filing their own returns rather than Read More
Changes to the money laundering regulations should focus on increasing the effectiveness of efforts to tackle money laundering through a more risk-based and proportionate approach, said the Law Society of England and Wales in response Read More
The Charity Commission is today warning charity leaders to protect their organisations against fraud and cybercrime, after new figures show charities reported almost £8.6 million of lost funds in the last financial year. This latest data Read More
A review completed by the Solicitors Regulations Authority into law firm anti-money laundering failures has identified a 40% increase in the number of potential AML breaches reported to the SRA, with the number one area of Read More
Access Legal’s latest quarterly AML update webinar is being held on 14 October 2021 at 12.30pm, and as usual we will be joined by Bill Jones, a financial crime specialist. With Natwest Bank facing a substantial Read More
Charity Fraud Awareness Week is coming up from 18th to 22nd October. Now in its sixth year, the week brings together everyone within the sector to talk about fraud, aiming to raise awareness of the Read More
The SRA has reprimanded and fined a solicitor who inadvertently helped a client to commit theft. The incident, which took place at the North East firm SJ Palin & Co Solicitors, caused the SRA to Read More
Despite the often volatile nature of cryptocurrency, there is no denying that this form of digital currency has made huge strides over the past decade. Once considered a fad or even a scam, the global Read More
A recent case has highlighted the importance of examining metadata in potential incidents of Will forgery. The case of Rainey v Weller & Ors [2021] EWHC 2206 (Ch) involved the family of the deceased Brenda Weller and Read More
Industry figures have raised concerns about proposals to reform Lasting Powers of Attorney, suggesting that the digitisation of the process opens to door to fraud and alienates the most vulnerable. The consultation proposes to review Read More
The scale of criminal activity which leads to financial loss has been laid bare by UK Finance’s half year fraud update. In total £753.9 million was stolen through fraud, an increase of 30 per cent compared Read More
The Office for Professional Body Anti-Money Laundering Supervision (OPBAS) has released its latest report on progress made in tackling money laundering by regulators over the past year. While this year’s report acknowledges that professional Read More
New research from Experian has revealed that bank account fraud is now tracking at its highest level for more than three years. Drawing on the latest data from the National Hunter Fraud Prevention Service, the Read More
A retired solicitor has been sentenced to 32 months’ imprisonment and been struck-off by the SRA for taking £275,000 from a deceased client’s estate and transferring it into his own bank account. The Lancashire-based former solicitor, Read More
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