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Sep 24, 2024 | 
pinsentmasons.com | Hinesh Shah |Jennifer Craven
Forensic accountant Hinesh Shah and commercial litigation expert Sara Esfandyari, both of Pinsent Masons, were commenting after the Property (Digital Assets etc) Bill was introduced into the UK parliament.
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Sep 19, 2024 | 
pinsentmasons.com | Hinesh Shah
D’Aloia engaged a private investigator specialising in blockchain analytics to help trace the funds. D’Aloia asserted that the investigator’s evidence showed that, via a series of transactions, some of the funds were deposited in a Bitkub wallet linked to the account of a Thai woman.
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Sep 18, 2024 | 
pinsentmasons.com | David Lister |Hinesh Shah
While organisations across the UK may have already started to work on reviewing and assessing their internal controls following reforms to the UK Corporate Governance Code (2024), it is important for organisations to start preparing for the new failure to prevent fraud offence introduced by ECCTA (376 pages / 3.7 MB) to ensure compliance.
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Mar 22, 2024 | 
pinsentmasons.com | Hinesh Shah
In the case, a woman, Jian Wen, was accused of converting bitcoin connected to a large-scale investment fraud in China into cash and property in Europe and Dubai. Wen was ultimately found guilty of an offence related to money laundering.
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Feb 29, 2024 | 
pinsentmasons.com | Hinesh Shah
The body has also tabled draft new legislation which, if implemented, would see the introduction of an entirely new category of personal property rights in England and Wales. The initiatives represent the latest strands of the Law Commission’s analysis of legal issues arising in the context of emerging technologies, such as smart contracts and digital assets.
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Dec 6, 2023 | 
pinsentmasons.com | Hinesh Shah |Steven Porter
There are existing options for disclosing unpaid tax to HMRC more generally, but this new facility is limited to cryptoasset-related tax. It also appears to be limited to disclosures made by individual taxpayers and is not open to corporate taxpayers. Sophie Warren, tax expert at Pinsent Masons, said: “The tax treatment of cryptoassets has been an area of confusion for many taxpayers, who may have ‘dabbled in crypto’ without fully understanding the tax consequences of what they were doing.
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Sep 21, 2023 | 
pinsentmasons.com | Hinesh Shah |Stacy Keen
Over the past year, the FCA has undertaken an assessment of sanctions compliance systems and controls in more than 90 firms across various UK sectors, including retail and wholesale banking, wealth management and insurance, using analytics-based and intelligence tools to proactively evaluate each firms’ ability to mitigate sanctions risks.
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Jun 7, 2023 | 
pinsentmasons.com | Hinesh Shah
Hinesh Shah of Pinsent Masons was responding to a report in the Financial Times that the Council of Ministers is shortly expected to agree its negotiating position on a new directive on asset recovery and confiscation proposed by the European Commission last year. The EU’s other law-making institution, the European Parliament, was given its mandate to open so-called trilogue negotiations on the text last month.
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May 22, 2023 | 
pinsentmasons.com | Andrew Barns-Graham |Hinesh Shah
The annual fraud report by the financial services sector trade body showed that businesses continue to encounter a high level of these particular types of fraud, even though the total number of financial fraud cases and total value of losses have both decreased year-on-year. Financial crime investigation expert Hinesh Shah of Pinsent Masons said the report is a reminder that businesses need to have robust fraud prevention measures.
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May 18, 2023 | 
pinsentmasons.com | Hinesh Shah
In a new report on the issue of ‘regulating crypto’, the Treasury Select Committee said it makes more sense to treat such cryptoassets as gambling due to the “characteristics” they bear. Last year, the UK Treasury confirmed plans to adopt “an agile approach” to future regulation of cryptoassets. It has already set out proposals to regulate so-called ‘stablecoins’ – cryptoassets backed by other assets such as gold or a fiat currency – and is intent on pursuing further cryptoasset reform.
