White-Collar Crime & Fraud Solicitor

Banking fraud falls under the Fraud Act 2006 and the Theft Act 1968. It is often charged as fraud by false representation, fraud by failing to disclose information, fraud by abuse of position or conspiracy to defraud.

Banking fraud is a loose term covering several types of fraud, such as:

• To obtain money, assets or other property owned by a financial institution, e.g. bank
• Obtain money by fraudulently posing as a bank or other financial institution
• Bank account/card fraud through identity theft
• Mortgage fraud
• Investment fraud

Benefit fraud is the criminal offence of claiming or receiving benefits that you know you are not entitled to. These offences are prosecuted under different legislations such as the Fraud Act 2006, the Theft Act 1968, Tax Credit Act 2002 and the Social Security Administration Act 1992.

• Benefits fraud offences can include:
• Failing to notify the DWP change of circumstances
• Providing false or inaccurate information
• Not declaring assets or money

If you are under investigation for benefit fraud, have been asked to attend an interview or facing prosecution, we can help. We have a strong track record of successfully defending cases involving fraud and can represent you at your investigation interview and court hearings.

Tax and VAT law is a complex and fast-developing area of law. We offer a proactive advice and representation service, and our negotiation skills have prevented prosecutions by HMRC.

Our track record and experience include:

• SFO investigations – advising witnesses in relation to Section 2 Notices served on corporate bodies and individuals and representing suspects in relation to financial crime allegations
• Attending Dawn Raids and providing clients with advice and assistance at their business premises while a search is conducted by investigating officers
• Representing individuals and businesses either following an arrest or by voluntary attendance
• Acting in numerous multi-million pounds fraud investigations, often with a significant international dimension
• Working in foreign jurisdictions and engaging local professional advisers, including lawyers, accountants and private investigators
• Representing clients throughout the country in a wide range of fraud investigations from our offices in London, Birmingham, Cardiff, Manchester and Sheffield
• Representation in court proceedings in conjunction with our long-established working relationships with the leading barristers and QCs in the country
• Advising on issues of business continuity and reputational damage
• Negotiating settlements with prosecuting authorities and advising on Deferred Prosecution Agreements (DPA)

The Proceeds of Crime Act (POCA) 2002 and the Money Laundering Regulations (MLR) govern the area of money laundering. Money Laundering involves hiding an unlawful/illegal source of money or assets so that they appear to have a legitimate source.

The main money laundering offences include:

• Concealing, disguising, converting, transferring or removing criminal property
• Entering into or being involved in an arrangement that facilitates the acquisition, retention, use or control of criminal property
• The acquisition, use and possession of criminal property
• Failure to report: professionals working in a regulated sector must disclose transactions they know or suspect or should reasonably have suspected to be money laundering through a Suspicious Activity Report (SAR)
• “Tipping off” offence: it is a criminal offence to disclose to a third party that a Suspicious Activity Report (SAR) has been made

From 31 January 2018, relevant enforcement authorities are able to apply to the High Court to obtain an Unexplained Wealth Order (UWO). This requires a person to explain and account for the origins of their assets where the assets owned by the person are inconsistent with their income level.

An Unexplained Wealth Order can be obtained by:

• Her Majesty’s Revenue and Customs
• The National Crime Agency
• The Financial Conduct Authority
• The Director of the Serious Fraud Office
• The Director of Public Prosecutions

Prosecuting authorities can seize and restrain assets even before any criminal charges are applied. They also have the power to seize any cash or assets found during their investigation.

If you are investigated or prosecuted for fraud, the authorities may freeze your assets and potentially confiscate profits from any illegal activities under the Proceeds of Crime Act. These measures can impact the people around you as assets can be frozen for a considerable length of time, even if you are found not guilty.

Unlike criminal cases, the burden of proof is not beyond reasonable doubt, but just on a balance of probabilities.
The Criminal Finances Act 2017 has amended the Proceeds of Crime Act 2002 (POCA) to allow authorised law enforcement agencies such as police or customs to seize, detain and forfeit “listed assets”, if they are recoverable property or intended for use in unlawful conduct. Listed assets can include precious metals, precious stones, watches, artistic works etc.

An officer can search for listed assets on any premises. The power extends to people and vehicles, and property valued at £1000 or more. An officer can then make an application to a magistrate court to extend the period of detention for up to six months.

After property has been seized and detained, an application can be made to the Magistrates for forfeiture of all or any part of it, if they are satisfied that it is a listed asset, and that it is recoverable property or intended for use in unlawful conduct

Confiscation proceedings can be brought by the prosecution following a conviction at the Crown Court for an offence that involves financial gain by the defendant. After gathering information from the prosecution and the defence, the Court, at hearing, will make a Confiscation Order. The Confiscation Order requires the defendant to pay a sum of money that represents their alleged ‘benefit’ from criminal conduct.