Fraud Newsletter
June 2026
Compiled by Faras Baloch, Andrew Herd, Francesca Kirby. & Katie Bacon
Cases
SFO v Ultra Electronics Holdings Ltd [2026] (Ruling on Anonymity): former executives could be named in DPA Statement of Facts.
Stephen Wilden v Person Unknown & Anor [2026] EWHC 1355 (KB): worldwide freezing order against an unknown person in crypto fraud; disclosure and costs orders made against uncooperative company on FCA warning list.
Bills, Statutes & SIs
Crime and Policing Act 2026 [s.250 expansion of corporate criminal liability where senior manager commits offence while acting in the scope of their actual or apparent authority; Sch 21 changes to confiscation regime] 29 Jun 26
Money Laundering and Terrorist Financing (Amendment) Regulations 2026 [include amendments to due diligence requirements for cryptoasset businesses] 9 Jun 26
Sentencing Act 2026 (Commencement No. 4) Regulations 2026 [where prisoners would serve two-thirds, they will now serve half, & where they would serve half or 40%, they will now serve one third] 8 Jun 26
Guidance, Reports & Consultations
Opening the Door: The UK’s 2027 Financial Action Task Force Evaluation RUSI: 30 Jun 26
Detecting and Disrupting Terrorist Financing Activity FATF: 26 Jun 26
Sentencing Council Response to Consultation to Amend Fraud Guideline [where little or no loss to victims, courts can use actual or intended gain to offender] Sentencing Council: 25 Jun 26
Beyond Covid fraud - the Government must go further to protect public money Spotlight: 24 Jun 26
Proposed offence for reckless untrue statements - Direct taxes HMRC: 23 Jun 26
Money Laundering Advisory Notice (high-risk jurisdictions) HMT: 22 Jun 26
Fixing Companies House’s identity crisis demands strong enforcement Spotlight: 18 Jun 26
Anti-Money Laundering and Counter-Terrorist Financing Supervision Reform: Duties, Powers, and Accountability Consultation HMT: 18 Jun 26
Civil society recommendations on asset recovery for the Illicit Finance Summit 2026 Spotlight: 16 Jun 26
Exploring options for legislative reform of the UK’s asset recovery regime Spotlight: 16 Jun 26
FATF Greylisting and Financial Inclusion RUSI: 16 Jun 26
Annual Fraud Report 2026 [£1.28 bn lost in payment fraud]: UK Finance: 12 Jun 26
Imposition of community and custodial guideline - consultation MOJ: 10 Jun 26
House of Commons committee report, Courts and Tribunals Bill [“…the provisions in the bill will not be implemented until March 2028 at the earliest. It is therefore difficult to understand why the government has not sought to achieve a broader consensus on these proposals, both within parliament and outside, before pushing ahead with them.”] HOC Justice Committee: 10 Jun 26
Companies House Accounts Reforms Parl: 9 Jun 26
Illegal High Street Enterprise. Closed for Business, Open for Crime RUSI: 3 June 26
Submission to the Home Office consultation on economic crime information sharing, May 2026 Spotlight: 3 June 26
News
The existential crisis facing the City of London police FT: 29 Jun 26
Crown court backlog falls by 37 cases as jury trial row intensifies LSG: 23 Jun 26
Sanctions against King & King and Mr Milankumar Patel [audit of GFG Alliance] FRC: 23 Jun 26
Insulation scandal: Contractor faked our signatures and received public money BBC: 17 Jun 26
City of London Police alert: Scam calls using ‘spoofed’ phone numbers Report Fraud: 17 Jun 26
Financial losses from scams hit £1.3bn a year as criminals turn to AI BBC: 15 Jun 26
Over 70s targeted as courier fraud exceeds £21 million in 2025, with London and Home Counties hit hardest Report Fraud: 15 Jun 26
Ex-council staff arrested on bribery offences BBC: 13 Jun 26
Fraudster who scammed renters out of £775k jailed BBC: 12 Jun 26
Charity helps recover £1m for fraud victims BBC: 10 June 26
AI tech ambition to deliver smarter justice for victims (govt pilots the use of AI in the Crown Court) MOJ: 9 Jun 26
Legal innovation to be supercharged by new AI Growth project MOJ: 8 Jun 26
DVLA worker who doctored car paperwork in ‘sophisticated’ million-pound fraud plan jailed BBC: 5 Jun 26
Man jailed for role in “SMS Blaster” fraud operation following City of London Police investigation Report Fraud: 5 Jun 26
Two arrested over suspected £153m TikTok tax scam Professional Adviser: 4 Jun 26
Ex-police superintendent charged with £720k fraud BBC: 3 Jun 26
Warning for online shoppers after spike in criminals gaining unauthorised access to retailer accounts Report Fraud: 3 Jun 26
SFO
Former Chelmsford firm investigated by Serious Fraud Office Colchester Gazette: 23 Jun 26
Uncomfortable scrutiny in London Mining is an opportunity to learn lessons Spotlight: 23 Jun 26
Petrofac’s fall: How a Dh27.5 billion giant ended with UAE staff taking 70% dues Gulf News: 23 Jun 26
SFO to secure further £491,000 from Jakarta expat scammer 19 Jun 26
New Records Show Andrew Was Tracked in Iceland’s Historic Banking Probe (SFO’s Kaupthing investigation): Royal Observer 13 Jun 26
SFO to secure a further £96,000 from “green energy” fraudster 11 Jun 26
CPS
Man sentenced for £700,000 Gift Aid fraud CPS: 23 June 26
CPS Serious and Economic Organised Crime Strategy 2030 CPS: 4 Jun 26
CPS International Strategy 2030 CPS: 4 Jun 26
Prosecutors to proactively target illegal assets to ensure crime does not pay under new CPS strategies CPS: 4 Jun 26
Two people – including a former police superintendent - charged in connection with £720,000 investment fraud CPS: 3 Jun 26
FCA
Credit Agricole’s Caceis UK censured, pays $42 million to WealthTek clients Reuters: 25 Jun 26
Government sets out its plan for making the FCA the super-regulator for money laundering: 19 Jun 26
Beyond the headlines: the unseen fight against financial crime FCA: 17 Jun 26
FCA secures confiscation order against Ponzi scheme fraudster FCA: 8 Jun 26
NCA
Cyber criminals who hacked into Transport for London’s computer network are convicted 22 Jun 26
Ex-Nigeria oil minister cleared in UK bribery trial BBC: 17 Jun 26
Insolvency Service
Wolverhampton fraudster sentenced after illegally claiming £30,000 in Covid loans IS: 29 Jun 26
Banned director who spent Covid loans on Disneyland, school fees and Audi jailed for £300,000 fraud IS: 19 Jun 26
Disqualified director jailed for £3 million fraud which helped bankroll lavish lifestyle with chauffeur-driven Rolls-Royce IS: 12 Jun 26
Lex Greensill to be disqualified from acting as a company director in the UK for nine years IS: 4 Jun 26
Europe
Swiss crackdown on white-collar crime has a timing problem Reuters 15 Jun 26
A $57 Billion Toll: How Evolving Scams Are Fleecing Europe OCCRP: 9 Jun 26
US
National Health Care Fraud Takedown Results in 455 Defendants Charged in Connection with Over $6.5 Billion in Alleged Fraud DOJ: 23 Jun 26
Beyond
Iraq detains politicians, officials in anti-corruption crackdown Reuters: 28 Jun 26
South Sudanese whistleblower reported abducted in Kenya Reuters: 11 Jun 26
As the 2026 World Cup Looms, a Shadow Tournament of Cyber Fraud Begins OCCRP: 4 Jun 26