OFFICIAL. Leading the UK's fight to cut serious and organised crime OFFICIAL. Specialist eg. UKMB Modern Slavery. Borders.

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1 OFFICIAL Warning Signs Economic Crime Command National Crime Agency Leading the UK's fight to cut serious and organised crime OFFICIAL Specialist eg. UKMB Modern Slavery National Cyber Crime Unit Borders Child Sexual Exploitation Operations (S&OC) Intelligence Economic Crime Edinburgh 20th June

2 Economic Crime Command UK Financial Intelligence Unit SARs Trend Analysis International Liaison Criminal Network of Financial Investigators Money Laundering (POCA) Confiscation Civil Recovery & Tax Asset Recovery in civil procedures Professional Enablers Team Joint Money Laundering Investigation Taskforce Strategic Public / Private sector partnership International Corruption Unit (And the rest.. ) What makes professionals a target? Trusted Business Relationships Very public regulation Stressful jobs in a competitive industry Access to significant client funds Legal Professional Privilege Necessity: Professionals are needed in order to legitimise case Edinburgh 20th June

3 What might happen? Fraud against you Fraud against your clients Financial and Reputational Loss, with significant emotional impact Money laundering you do not have to know you re doing it to commit a Money Laundering Offence under POCA. Professional Enablers Those who, by working in their professional capacity, have the skills and/or knowledge to assist criminals in laundering the proceeds of crime. This can be wittingly or unwittingly. Edinburgh 20th June

4 Red Flags Front / Shelf Companies to disguise ownership Complex structures where the layers seem unnecessary Wealth Management / Private Banking facilities to provide minimal details of high level transactions Correspondent banking relationships 3 rd parties / intermediaries used where it makes no commercial sense to do so Professionals processing transactions where no professional service has been provided Tax returns that are inconsistent with the client profile Housley was convicted of money laundering under s328 of POCA, income tax fraud and failing to make a report to law enforcement when he knew or suspected others were engaged in money laundering. Four Year sentence 4 months suspended sentence for failure to report s330 POCA Edinburgh 20th June

5 Trademarks Urgency Familiarity Use of your online presence Pressure Non-standard transactions Avoidance of KYC NOT ALL FRAUD REQUIRES CYBER EXPERTISE traditional fraud is alive and well Edinburgh 20th June

6 Social Engineering Vishing million obtained in this way in 2014 Representing a 200% rise on 2013 There is no software to protect you from vishing Edinburgh 20th June

7 How else can social media be used? Recruiting insiders (this could start AFTER screening of employees) Identifying holidays To increase trust and gain familiarity THIS IS A BUSINESS FRAUDSTERS DO THIS BECAUSE THEY MAKE A LOT OF MONEY FROM IT ID Know what you re looking at Matching hairstyles Business partner not present (ill / out of the country) Urgency Presenting documents to a junior staff member Presenting documents when key contact is away A consent SAR / DAML is not enough Passport number DOB (inverted) Gender Expiry date (inverted) Edinburgh 20th June

8 The Criminal Finance Act - Unexplained Wealth Orders The criteria: The party concerned holds the property, and the value of the property exceeds 100,000 Reasonable grounds to suspect that the known sources of the respondent s lawful income would be insufficient to enable him or her to obtain the property And either: The respondent is a PEP Or There are reasonable grounds to suspect the respondent, or a person connected with him/her is or has been involved in unlawful conduct in the UK (or elsewhere) Bill_-_Factsheet_1_-_The_Bill.pdf NCA Specials Civic minded individuals Part time, specialist volunteers Niche expertise and skills that are rarely available within traditional law enforcement Of huge value in the fight against serious and organised crime. Current areas of expertise among our cadre of Specials: Cyber Financial markets Forensic accountancy Established academics Languages Edinburgh 20th June

9 Thank-you Web: nationalcrimeagency.gov.uk Facebook: NCA mission: leading the UK's fight to cut serious and organised crime. Edinburgh 20th June