Credit, collections & insolvency news
The Financial Conduct Authority (FCA) has started criminal proceedings against four individuals for conspiracy to commit false accounting, with three of them facing further charges for fraud.
Terry Dodd, John Riley and Brian Flanagan have been charged with fraudulently abusing their positions as directors of the Dial-A-Cab Credit Union for their own personal gain.
The FCA alleges that the four individuals transferred funds out of the credit union for the benefit of themselves and their families.
Terry MacPherson has been charged for conspiring with the individuals, using his position as an auditor to submit false returns to the FCA and Prudential Regulation Authority (PRA), which masked the true position of the credit union and the fraud taking place.
The alleged offending took place over a six-year period between 1st September 2012 and 4th September 2018.
The defendants were granted conditional bail at Westminster Magistrates Court on 20 November 2024, and the case has been sent to Southwark Crown Court, with the next hearing on 18th December 2024.
The Financial Conduct Authority (FCA) has banned Mr Ari Harris from working in financial services. In July 2020, Mr Harris was convicted of inflicting grievous bodily harm without intent after stabbing a man twice in the neck. He was sentenced to three years imprisonment in July 2022. Mr Harris and Reeds Motors Ltd…
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The Government has published new guidance that will provide organisations with advice on how to take action to prevent fraud. Introduced last year as part of the Economic Crime and Corporate Transparency Act (ECCT), the offence is intended to hold large organisations to account if they profit from fraud. Under the offence, which has cross-Parliament…
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Latest figures from the Office for National Statistics (ONS) in its Crime Survey for England and Wales (CSEW) showed that consumer and retail fraud increased by 19%, reaching approximately 963,000 incidents. Chad Reimers, General Manager of Fraud & ID at TransUnion said “The latest Crime in England and Wales figures from the Office for National…
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