Banking

Two alleged to be involved in huge bank fraud are snared in national crackdown


Two men have been charged in connection with alleged £2m fraudulent banking schemes in Glasgow and Manchester. The pair, aged 36 and 45, were charged and will appear at Glasgow Sheriff Court at a later date.

The pair were arrested as part of a huge nationwide crackdown on fraud led by the City of London Police and the National Economic Crime Centre which has resulted in 438 arrests and the seizure of £19m.




The two bank fraud arrests were part of a Police Scotland investigation into several frauds, with victims reporting information being used to bypass bank security to access their accounts. The total value of the frauds being investigated is about £2 million, police said. The two arrests were part of an inquiry with Greater Manchester Police.

The third part of the investigation, Operation Henhouse, ran through February and March this year. It resulted in account freezing orders of £5.1m and seizures of cash and assets worth £13.9m.

Fraud is currently the most common crime type reported in the Crime Survey of England and Wales. It accounts for approximately 40 percent of all crime reports, and costs an estimated £6.8bn each year in England and Wales alone.

The action involved all UK police forces and Regional Organised Crime Units, alongside national agencies including the Financial Conduct Authority, National Crime Agency, Serious Fraud Office and National Trading Standards.

Substantial law enforcement activity was carried out by individual forces and agencies across the UK. The North West Regional Organised Crime Unit made over 90 interventions, including freezing bank accounts, to disrupt suspected fraud being carried out by organised crime groups.

High value seizures included an £80,000 Porsche by Lancashire Police, a £70,000 BMW by the North West Regional Organised Crime Unit, and a £15,000 Rolex watch, alongside $33,200 (USD), £15,750 and a large quantity of high value designer clothing by the South East Regional Organised Crime Unit.



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