The rewards of white collar crime

Why would anyone commit a physical crime when non-physical crime is so much more rewarding?

Laura Miller
clock

The FCA may have issued £826m in fines this year for financial wrongdoing, but white collar crime is still a better bet than an old fashioned smash and grab.

I was chatting with an insolvency practitioner last week, who was working on a case involving a businessman who had deliberately failed to pay £42m of National Insurance contributions to HMRC. The tax dodge had been going on for nine years before it finally ended up in court. Compare this, he said, with the Hatton Garden heist, in which criminals burrowed under a safe deposit company and made off with anything between £10m and £200m of jewels, other valuables and cash. The crime took place in April this year, by May eight men had been charged with the crime, and in September four h...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

AI and compliance: Charging for advice or administration?

AI and compliance: Charging for advice or administration?

Efficiency doesn't remove accountability

Gareth Fatchett
clock 03 September 2026 • 3 min read
FCA warns of Flagstone clone

FCA warns of Flagstone clone

Notice issued to alert consumers

Jenna Brown
clock 03 September 2026 • 3 min read
Andrew Goodwin: As the regulator plays catch-up, should advisers race towards AI's cutting edge?

Andrew Goodwin: As the regulator plays catch-up, should advisers race towards AI's cutting edge?

'The review offers tangible evidence of the FCA playing catch-up'

Andrew Goodwin
clock 01 September 2026 • 4 min read