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London Arrests: Crackdown on Insider Dealing and Money Laundering Organized Crime Networks

Updated: Feb 19

British authorities announced that three individuals based in London have been arrested on suspicion of insider dealing and money laundering as part of a significant crackdown on organized criminal networks.


London Arrests: Crackdown on Insider Dealing and Money Laundering Organized Crime Networks

The Financial Conduct Authority (FCA) and the National Crime Agency (NCA) conducted searches at three residential properties in London on February 1st, seizing digital devices during the operation. One additional suspect, a 48-year-old man, was interviewed under caution on Tuesday and remains under investigation. The arrested individuals are all in their 50s.


Steve Smart, the FCA’s joint head of enforcement and market oversight, emphasized the watchdog's commitment to combating organized criminal networks involved in insider dealing. He highlighted the threat posed by such activities to the integrity of financial markets both in Britain and internationally. Smart stated, “We work tirelessly, using our own sophisticated monitoring systems and specialist teams, to identify and disrupt people involved at each stage of these trading events from the insider leaking information, people who sell inside information to traders and brokers who facilitate access to the trading market.”


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In Britain, insider trading carries a maximum penalty of up to 10 years in prison or a fine for offenses committed after November 2021. However, no further details regarding the alleged offenses were disclosed by the authorities.


The FCA also noted that suspicious trading by members of organized criminal gangs in products with underlying securities that are British and internationally listed equities constitutes a significant component of the overall volume of suspicious trading observed in equity markets.


This crackdown underscores the authorities' efforts to tackle financial crime and uphold the integrity of financial markets, sending a strong message to those involved in illegal activities.

By fLEXI tEAM


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