Narita Bahra KC secures acquittal for Barclays Banker in the UK’s largest Cyber Fraud Conspiracy. 

The Crown alleged the client had opened 144 fraudulent accounts enabling over three million pounds to be laundered, as well as passing on sensitive details to those committing the Cyber Fraud in the overall conspiracy, in excess of £113 million.

Barclays Bank was a member of the The Cyber Defence Alliance, created in 2015 by a handful of banks to share information about cyber threats with each other and with law enforcement agencies. The Cyber Defence Alliance describes itself as “a co-located federation of banks and law enforcement agencies working together to advance sector security”. It adds that “an attack against one bank is an attack against them all”. “The ultimate goal is to support the sector to proactively detect and stop emerging threats, to share resources/expertise and knowledge to grow stronger together as a team, and to support law enforcement action against criminal networks threatening the industry and its customers.”  The venture operated out of an office in the City of London manned by cyber security staff assigned from each of the banks and police officers from the UK National Cyber Crime Unit. However, despite joining forces with rival banks and law enforcement agencies, Barclays and other banks had been unable to fend off criminal gangs in vishing and phishing frauds

Two years post charge, after detailed legal submissions, the prosecution offered no evidence and Not Guilty verdicts were entered on two counts of conspiracy to defraud and money launder, against Narita’s client. The Prosecution accepted that legally and evidentially they were unable to substantiate the tenuous link between the main conspirators and the client.

The client pleaded guilty to one count of entering into an arrangement which facilitated the acquisition, retention, use or control of criminal property, contrary to section 328 of the Proceeds of Crime Act 2002, on an agreed basis. No confiscation proceedings were pursued.

The case received national press coverage