Fraud Newsletter

Compiled by Faras Baloch, Andrew Herd, Francesca Kirby. & Katie Bacon

Cases

NCA v GKC (No 2) [2026] EWHC 929 (Admin) - starting point in contested HC UWO proceedings is principle of open justice; no presumption in favour of anonymisation, a careful fact-specific balancing exercise is required.

Aabar Holdings S.á.r.l. & Ors v Glencore Plc [2026] EWHC 877 - Scope of legal advice privilege and extent to which it applies to internal communications between members of client group and/or documents created by member of client group.

R v Beckett [2026] EWCA Crim 462 - fraudulent trading - no additional requirement beyond fraudulent purpose of proof of some form of specific misconduct; 6.5 years for offending at top of scale not excessive.

R v Rush & Anor [2026] EWCA Crim 442 - conspiracy to cheat revenue; jury did not need to find that participants aware of the precise method by which the agreement to cheat was to be carried out.

Sentencing & Confiscation

Nothing of note.

Bills, Statutes & SIs

Sentencing Act 2026 (Commencement No. 3) Regulations 2026 (provisions to come into force in May and June): 13 Apr 26

The Public Authorities (Fraud, Error and Recovery) Act 2025 (Commencement No. 2) Regulations 2026 (commence provisions from 1 Apr 26)

The Procurement (Amendment) Regulations 2026 (commence provisions from 1 Apr 26)

Guidance, Reports & Consultations

Beyond Integrity: Thinking Twice About Financial Crime Risk RUSI: 21 Apr 26

Will changes to the UK’s money rules help or hinder crooks and kleptocrat? Spotlight: 16 Apr 26

Guide to Criminal Procedure (Amendment) Rules 2026 MOJ: 14 Apr 26

Crypto Moratorium is the Right Starting Point for Political Finance Reform RUSI: 1 Apr 26

Making the UK’s crypto donations ban stick Spotlight: 1 Apr 26

The Future of Agentic AI DRCF: 31 Mar 26

News

‘Fraudster’ jailed after stealing staff pensions BBC: 28 Apr 26

Four arrested over suspected home insulation scheme fraud BBC: 22 Apr 26

Collapsed law firm at centre of £39.5m fraud probe BBC: 21 Apr 26

SFO

SFO DPA with Ultra Electronics Holdings Limited (formerly plc) 1 May 26

SFO use of counsel “fit for purpose” HMCPSI: 30 Apr 26

SFO launch appeal into suspected home heating & insulation fraud SFO: 22 Apr 26

Business Plan 2026-27 SFO: 16 Apr 26

Ex-LCF CEO and wife admit to multiple breaches of court order SFO: 13 Apr 26

CPS

CPS secures settlement against woman who bought two houses with the suspected proceeds of crime CPS: 28 Apr 26

Former police officer admits involvement in fraudulent ‘crash for cash’ scam CPS: 7 Apr 26

Hull funeral director pleads guilty to 67 criminal charges CPS: 2 Apr 26

FCA

Market Watch 85 FCA: 29 Apr 26

Cyber Coordination Group Insights 2025 FCA: 24 Apr 26

FCA Handbook Notice 140 , UK Listing Rules Instrument 2026, UK Listing Rules (Amendment) Instrument 2026 & UK Listing Rules (Miscellaneous Amendments) Instruments 2026 FCA: 24 Apr 26

FCA leads first crackdown on illegal crypto trading FCA: 22 Apr 26

NCA

Fraudsters targeting cryptocurrency stopped and $12 million frozen in NCA-led Operation Atlantic NCA: 9 Apr 26

Insolvency Service

Insolvency Service joins forces with Crimestoppers to crack down on rogue directors IS: 23 Apr 26

West Midlands director sentenced after running two companies for more than five years while banned IS: 1 Apr 26

Disqualified Manchester director jailed for multiple Covid loan frauds IS: 1 Apr 26

Europe

Strengthening Belgium’s Financial Response to Organised Crime RUSI: 29 Apr 26

Mandelson under formal investigation by EU’s anti-fraud office BBC: 24 Apr 26

European Body Rebukes Switzerland Over Handling of Magnitsky Fraud Funds OCCRP: 24 Apr 26

Moldovan oligarch jailed in $1bn ‘theft of the century’ case BBC: 22 Apr 26

Europe’s AML Package: A Strong Framework at the Wrong Time? RUSI: 9 Apr 26

US

The $5 Million Shadow Bank: California Man Admits to Funneling Cybercrime Cash OCCRP: 7 Apr 26

Beyond

Ten years after the Panama Papers, enablers and tax cheats are still being brought to justice ICIJ: 2 Apr 26