The NCA is investigating whether a government translator with access to wiretap recordings has tipped-off the target of an insider-trading investigation.
As per a report from the Wall Street Journal, the UK National Crime Agency (NCA) is examining allegations that an employee has leaked information to a suspect for money, thus undermining a probe into a network of insider-trading suspects in Europe.
The WSJ report, citing a source familiar with the matter at hand, said the NCA is investigating whether a government translator with access to wiretap recordings has tipped-off the target of an insider-trading investigation.
Britain’s Financial Conduct Authority (FCA) declined to comment citing reporting restrictions.
NCA’s spokesman told the WSJ that it does not routinely confirm or deny the existence of investigations.
The current investigation stems from an earlier one in 2013, which included monitoring a network of people suspected of using illegal tips to trade stocks. So far, the investigation has led to one prosecution.
WSJ’s report, cited a letter which suggested that there was a joint investigation by the NCA and FCA into trading activities of the suspects. One of the suspects had “three people working for him at the agency”, reads the letter cited by the WSJ, in reference to the NCA.
According to another suspect, the accused traders could potentially pay off NCA officers assigned to the case, by sending money to a bank account in Macau, reads the report.