An international operation coordinated by the National Crime Agency (NCA) has resulted in the arrest and extradition of a man believed to be one of the world’s most prolific Russian-speaking cybercrime actors.

The NCA has been investigating the online moniker ‘J.P. Morgan’ and his criminal network since 2015, with parallel investigations also being run by the United States Secret Service (USSS) and FBI.

https://www.nationalcrimeagency.gov.uk/news/suspected-head-of-prolific-cybercrime-groups-arrested-and-extradited

Department predicts further pressure on service standards as tax base grows due to frozen thresholds.

HM Revenue and Customs has warned that it may struggle to deliver the 2024-25 savings target it was set at the last spending review because of rising costs.

https://www.civilserviceworld.com/news/article/hmrc-warns-of-challenge-to-deliver-efficiency-target

The launch date for the repeatedly delayed replacement service for Action Fraud, the much-criticized reporting center for fraud and financially motivated cybercrime in Britain, has again been pushed back, a senior police officer has confirmed to Recorded Future News.

The likely date will be sometime in the spring of 2025, according to Nik Adams, the temporary assistant commissioner at the City of London Police.

https://therecord.media/uk-action-fraud-replacement-delayed-2025

The wife of a jailed banker has forfeited her London Knightsbridge home and a golf club in Ascot after spending more than £16 million on shopping trips to Harrods.

Zamira Hajiyeva, 61 whose husband Jahangir Hajiyev, 62, is serving a 16-year jail sentence in Baku for fraud and embezzlement, had been pursued by the National Crime Agency (NCA) over the source of her considerable fortune.

https://www.msn.com/en-gb/money/other/wife-of-banker-jailed-for-fraud-must-hand-over-luxury-house-and-golf-club/ar-AA1ohlEr

Billions of pounds of taxpayer's money have been lost to error and fraud in tax schemes designed to encourage research and development in business.

Critics say some companies are claiming the tax breaks even if they are not doing any research or development, the BBC reported today.

HMRC's latest accounts reveal £4.1bn has been squandered since the schemes were introduced in 2020. It said the levels of error and fraud were "unacceptable".

The figures come as the new government rows with the old one about a hole in the public finances.

Football fans are being warned by a major bank to watch out for ticket scams, after it recorded a jump in cases.

With the new Premier League season starting soon, Lloyds Bank said customer analysis indicates the number of people reporting being scammed when buying football tickets rose by about a third (32%) during the 2023/24 season, compared with the previous season.

https://www.msn.com/en-gb/money/other/premier-league-football-fans-urged-by-major-bank-to-watch-out-for-ticket-scams/ar-AA1o9jch?ocid=BingNewsSerp

An unauthorised mortgage broker has been charged with fraud, the Financial Conduct Authority has revealed.

Peckham based, Peterson Okoh, 64, appeared at Westminster Magistrates Court on Wednesday (July 31) for allegedly advising on and arranging mortgages between January 2018 and December 2023 without being authorised.

https://www.ftadviser.com/fca/2024/08/02/unauthorised-mortgage-broker-charged-with-fraud/

Today, the National Crime Agency can reveal that they have shut down a platform used by hundreds of criminals to defraud victims across the world.

Russian Coms, established in 2021, is thought to be behind financial losses in the tens of millions. An estimated 170,000 people across the UK are believed to be victims.

The UK’s Serious Fraud Office (SFO) has charged Beard, ex-Glencore head of oil, with corruption and bribing NNPC officials.

The billionaire former head of oil at Glencore Plc, Alex Beard, has been charged with corruption by the UK’s top fraud agency, alongside four other ex-employees from the commodities trader.

https://www.arise.tv/uk-fraud-office-charges-former-glencore-billionaire-oil-chief-with-bribing-nnpc-officials/

A recent report by Crest Advisory, the Police Foundation, and Birkbeck University calls for a dedicated fraud commissioner and a cabinet minister for economic crime. It advocates for a strategic, well-resourced approach to combating online fraud, including an annual levy on online platforms.

https://www.mondaq.com/uk/white-collar-crime-anti-corruption-fraud/1500394/proposals-for-a-fraud-commissioner