Category: Banking

Regulatory Watch News

• 

  FCA confiscates over £300,000 from convicted fraudsters

  Financial Conduct Authority

  May 14, 2025

  The FCA has secured confiscation orders of £305,284 against Raheel Mirza, Cameron Vickers and Opeyemi Solaja for their roles in an investment fraud. This amounts to all their remaining assets.

  The confiscation proceedings for Reuben Akpojaro have been adjourned to a later date. The money will be returned to investors at the earliest opportunity. Failure to pay can lead to imprisonment.

• 

  Arrest in joint money laundering investigation by police and FIOD

  Fiscal Information and Investigation Service - FIOD

  May 14, 2025

  On May 13, the joint investigation team IFi of the police and FIOD arrested a man (57) and a woman (37) from Amsterdam. They are suspected of money laundering and forgery. A number of homes and a business premises in Amsterdam were searched, and physical and digital administration and data carriers, such as telephones, computers and identity documents, were seized.

  The man has a company that does money transfers, among other things. It is suspected that the man and woman transferred cash of criminal origin abroad. Both were taken to a cell complex for questioning.

• 

  High Value Dealers, Art Market Participants, Letting Agents and Insolvency Practitioners Compliance

  OFSI

  May 14, 2025

  From today, 14 May 2025, High Value Dealers (HVDs), Art Market Participants (AMPs), Letting Agents and Insolvency Practitioners are legally required to comply with relevant firms reporting obligations in the UK.

  Since their announcement last November, OFSI has published a comprehensive package of guidance to support the affected sectors in navigating UK financial sanctions and the new reporting requirements: