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Pay and prospects
How well are women represented in anti-fraud? How do salaries vary between men and women, and internationally? Keith Nuthall, Poorna Rodrigo & Raghavendra Verma check the figures.
Online Published Date:
29 January 2025
Appeared in issue:
April/Maqy 2025 - 01 April 2025
Ex US senator bribed by foreign powers jailed for 11 years
Former New Jersey Senator Bob Menendez has been sentenced to 11 years in prison and ordered to forfeit US$922,188, some seven months after he was convicted by a jury on 16 counts of bribery, fraud, obstruction and acting as a foreign agent.
Online Published Date:
06 February 2025
Appeared in issue:
April/Maqy 2025 - 01 April 2025
Winds of change point to UK whistleblower rewards
A shift in thinking expressed by enforcers, a think tank and the Labour Government suggests erosion of the United Kingdom's long-term resistance to remunerating those who notify authorities of wrongdoing. Joseph Skilton and Nick Vamos of Peters & Peters report on growing impetus for financial incentives and boosted protections for whistleblowers, along with suggested actions for firms.
Online Published Date:
07 February 2025
Appeared in issue:
April/Maqy 2025 - 01 April 2025
US president halts enforcement of law against bribing foreign officials
President Donald Trump, on 10 February, ordered the US Department of Justice to pause its enforcement of the Foreign Corrupt Practices Act (FCPA), saying it was "a disaster" for the United States as "it made it very, very hard from a practical standpoint to make deals" in overseas markets.
Online Published Date:
11 February 2025
Appeared in issue:
April/Maqy 2025 - 01 April 2025
UK national wins case against extradition to US on insider dealing charges
Joseph El-Khouri will not be sent to the United States to face prosecution for alleged insider trading on tips about prospective mergers and acquisitions after the UK Supreme Court ruled that nearly all the conduct at issue occurred in the United Kingdom.
Online Published Date:
13 February 2025
Appeared in issue:
April/Maqy 2025 - 01 April 2025
Swiss court convicts Trafigura and ex COO over Angola oil bribes
In a landmark case, the Swiss Federal Criminal Court, in Bellinzona, southern Switzerland has convicted international commodities trading giant Trafigura and its former chief operating officer Mark Wainwright of bribery linked to lucrative oil contracts in Angola.
Online Published Date:
13 February 2025
Appeared in issue:
April/Maqy 2025 - 01 April 2025
TI flags climate risk with release of 2024 Corruption Perceptions Index
Global corruption and undue influence are undermining climate action worldwide, warned Transparency International on publishing its 2024 Corruption Perceptions Index (CPI), which scores 180 countries on perceived levels of public sector corruption, from 0 (highly corrupt) to 100 (very clean).
Online Published Date:
14 February 2025
Appeared in issue:
April/Maqy 2025 - 01 April 2025
In-house anti-fraud teams make significant recoveries, says ACFE
The Association of Certified Fraud Examiners (ACFE) says in-house anti-fraud units on average help organisations to recover 25% of their losses to fraud.
Online Published Date:
18 February 2025
Appeared in issue:
April/Maqy 2025 - 01 April 2025
Mako Financial Markets pays UK£1.7m after financial crime controls miss cum-ex trading
In the last of eight enforcement actions linked to fraudulent cum-ex trading, where more than one party reclaims withholding tax on share dividends, the UK Financial Conduct Authority (FCA) has imposed a UK£1,622,700 (US$2,044,455) financial penalty on Mako Financial Markets Partnership LLP.
Online Published Date:
18 February 2025
Appeared in issue:
April/Maqy 2025 - 01 April 2025
OLAF and EPPO collaborate to take down mafia-linked subsidy fraud scheme
The European Anti-Fraud Office (OLAF) and European Public Prosecutor's Office (EPPO) have demonstrated how they can work together effectively by defeating a €100 million European Union (EU) subsidy fraud scheme, linked to the Italian mafia.
Online Published Date:
20 February 2025
Appeared in issue:
April/Maqy 2025 - 01 April 2025
Hackers steal US$1.46 billion from ByBit crypto exchange
Hackers stole a record US$1.46 billion from the Dubai-based Bybit cryptocurrency exchange on 21 February in the largest cyber heist in history, more than double the previous record US$611 million that Poly-Network lost in August 2021.
Online Published Date:
27 February 2025
Appeared in issue:
April/Maqy 2025 - 01 April 2025
UK Parliament debates direct recovery from bank accounts in benefit fraud cases
A Public Authorities (Fraud, Error and Recovery) bill currently before the UK Parliament aims to enable claw-back of funds even in "low value cases" where prosecutions are not pursued, MPs have been told.
Online Published Date:
06 March 2025
Appeared in issue:
April/Maqy 2025 - 01 April 2025
Has Trump given corporates a bribery 'free pass'?
The US President's Executive Order to pause and review anti-corruption enforcement activity has left many wondering if the upshot will be a more permissive business climate. Not necessarily, says Thomas Cattee of Gherson Solicitors.
Online Published Date:
07 March 2025
Appeared in issue:
April/Maqy 2025 - 01 April 2025
Gear change - Generative AI
Whether or not fraud is increasing in volume, value, sophistication, assuredly there is the opportunity to uncover more, faster than ever before with the advent of new artificial intelligence models. Keith Nuthall catches up with the latest advances.
Online Published Date:
08 March 2025
Appeared in issue:
April/Maqy 2025 - 01 April 2025
US "crypto capital" - the fraud risks
What does the Trump administration's drive for American leadership in digital assets mean for the counter-fraud agenda, given crypto's vulnerability to scams and the movement of criminal funds? James Evison and Miranda Joseph of Stevens & Bolton weigh in.
Online Published Date:
10 March 2025
Appeared in issue:
April/Maqy 2025 - 01 April 2025
EPPO investigations up 38% as potential harm hits €24.8 billion
The European Public Prosecutor's Office (EPPO) saw a 38% rise in active cases at the end of 2024 compared to 2023, with the number expected to increase both as detection and reporting of European Union (EU) fraud continues to improve and its Polish and Swedish offices, which became operational in 2024, get up to speed, according to the agency's latest annual report.
Online Published Date:
13 March 2025
Appeared in issue:
April/Maqy 2025 - 01 April 2025
In the trenches of ransom war
From its emergence in 2019, Conti became the world's most profitable ransomware outfit, with up to 100 members at a time and receipts in the hundreds of millions of US dollars. Max Smeets talked about his research on the group along with other trends in ransomware at a RUSI event in February.
Online Published Date:
19 March 2025
Appeared in issue:
April/Maqy 2025 - 01 April 2025
EU currents - Europol warns on AI threat
The latest EU Serious and Organised Crime Threat Assessment 2025, from EU police agency Europol, has warned that organised crime is strengthening its ability to conduct sophisticated fraud through artificial intelligence.
Online Published Date:
19 March 2025
Appeared in issue:
April/Maqy 2025 - 01 April 2025