Crime
Our coverage on Crime examines financial misconduct, fraud, and regulatory breaches within the UK accountancy sector. Accountancy Today reports on high-profile cases, such as the FCA’s investigation into Wood Group for allegedly withholding information from auditors, and the FRC’s £2.9 million fine imposed on PwC for serious audit failings related to Wyelands Bank . We also highlight instances of individual misconduct, including the 20-year ban of a former BDO manager for extensive document falsification . Our editorial provides insights into the evolving landscape of financial crime, regulatory enforcement, and the implications for accountants, partners, and compliance officers.
-
Apr- 2019 -11 AprilCrime
Accountant sentenced for theft of £44,000
Andrew Smart, a senior accounting administrator for North Yorkshire Police, has been sentenced at Teesside Crown Court for stealing over £44,000 from voluntary organisation Police Sports Fund UK, of which he served as treasurer. According to the Crown Prosecution Service (CPS), between July 2016 and August 2017 he wrote himself…
Read More » -
10 AprilBusiness Regulation
FCA fines Standard Chartered Bank £102.2m for poor AML control
The Financial Conduct Authority (FCA) has fined Standard Chartered Bank £102,163,200 for Anti-Money Laundering (AML) breaches in two higher risk areas of its business. The nine-figure total is the second largest financial penalty for AML controls failings ever imposed by the FCA. The fine follows FCA investigations into two areas…
Read More » -
Mar- 2019 -28 MarchRegulation
£93m lost to invoice scams in 2018, says Finance UK
Over four in 10 businesses in the UK are unaware of the risks posed by invoice fraud, despite these scams costing firms almost £93m in 2018, research by UK Finance has revealed. Invoice scams take place when fraudsters trick businesses into transferring money by posing as legitimate payees. Some £92.7m…
Read More » -
22 MarchEconomy
£1.2bn stolen through fraud in 2018, says Finance UK
A total of £1.2bn was stolen by criminals committing fraud in 2018, according to the latest report, Fraud the Facts 2019 published by UK Finance. The trade association for UK banking and financial services said the figure is comprised of £354m in authorised fraud and £845m in unauthorised fraud. Despite…
Read More » -
Feb- 2019 -1 FebruaryLegal
Accountant pleads guilty to defrauding X Factor winner of £600k
An accountant has pleaded guilty to defrauding X Factor winner, James Arthur, of £599,000. Mark Livermore, 39, worked for Arthur’s Raff Music company, where he moved funds to other accounts without the permission of Arthur. Livermore admitted to one count of fraud at Westminster Magistrates Court, with chairwoman of the…
Read More »
