- Home/Publications/Fraud Intelligence
Benefit claims
The UK Department for Work and Pensions (DWP) has let it be known that it beat its target for making savings from counter-fraud activities in 2023-24. Should we be impressed? asks Niall Hearty of Rahman Ravelli.
Online Published Date:
21 May 2024
Appeared in issue:
August/September 2024 - 01 August 2024
Body of evidence - polygraph testing
In use for over 100 years, disparaged by many fraud investigators, lie detectors continue to undergo innovation. So, really, do they, can they work - how well, at all? Paul Cochranewants to know.
Online Published Date:
21 May 2024
Appeared in issue:
August/September 2024 - 01 August 2024
EU round-up - Ukraine joins European anti-fraud regime
The government of Ukraine, struggling against a Russian offensive near its second city Kharkiv, has joined the European Union's (EU) Union Anti-Fraud Programme (UAFP), as it seeks to shore up EU support through anti-graft and financial crime efforts.
Online Published Date:
24 May 2024
Appeared in issue:
August/September 2024 - 01 August 2024
Ex top aide to Madagascan president jailed in UK for bribery
The former chief of staff to Madagascan President, Andry Rajoelina, has been jailed in an English court after a successful prosecution of a foreign official soliciting bribes in Britain, breaching section 2 of the Bribery Act 2010.
Online Published Date:
24 May 2024
Appeared in issue:
August/September 2024 - 01 August 2024
Illusive truth - AI for deception detection
If software can work through sufficient examples of human behaviour it should be able to determine more accurately than a trained interviewer whether a subject is honest: that's the theory, Paul Cochranelooks at whether it stacks up.
Online Published Date:
26 May 2024
Appeared in issue:
August/September 2024 - 01 August 2024
Snowflake claims Santander and Ticketmaster breaches not its fault
Data cloud platform Snowflake denies that vulnerabilities in its system allowed the ShinyHunters hacking group to breach security and access customer details of both Santander Bank and Ticketmaster last month [May 2024].
Online Published Date:
04 June 2024
Appeared in issue:
August/September 2024 - 01 August 2024
New technologies tackle the UBO verification challenge
Regulated businesses, governments and anti-corruption investigators need to know who they're really dealing with behind complex company structures. But, identifying and verifying ultimate beneficial owners (UBOs) or 'persons of significant control' remains a significant challenge. Steve Lamb of Kyckr reports on how technology is being used to assist and speed the process.
Online Published Date:
05 June 2024
Appeared in issue:
August/September 2024 - 01 August 2024
Autonomy founder acquitted of all fraud charges in US
UK tech entrepreneur Dr Mike Lynch was found not guilty of 14 counts of fraud and one of conspiracy by a jury in San Francisco on 6 June.
Online Published Date:
07 June 2024
Appeared in issue:
August/September 2024 - 01 August 2024
UK regulator rejects call to delay to APP fraud reimbursement
The UK's Payments Systems Regulator (PSR) has rejected a 10 June plea from industry group the Payments Association for a year's delay to this autumn's start of mandatory reimbursement for victims of authorised push payment (APP) fraud.
Online Published Date:
14 June 2024
Appeared in issue:
August/September 2024 - 01 August 2024
Holistic elements of successful investigations
The British Post Office's Horizon IT scandal is a high-profile example of what can go wrong when fraud cases aren't conducted effectively across a broad scope of investigative skills. Tim Tyler and Wayne Haynes of the International Compliance Association discuss a balanced approach to financial crime investigations.
Online Published Date:
14 June 2024
Appeared in issue:
August/September 2024 - 01 August 2024
Glencore pays US$50 million to Nigeria over graft but details scarce
Anti-graft campaigners, including Britain's Spotlight on Corruption, are calling on Nigeria's federal government to publish its US$50 million anti-corruption settlement with mining major Glencore International.
Online Published Date:
19 June 2024
Appeared in issue:
August/September 2024 - 01 August 2024
The AI frontline: new tech, old tricks
The advance of artificial intelligence pits counter-fraud professionals against adversaries who are using the technology to ply cunning variations on well-established criminal themes. It is not feasible to rely solely on technological protections; proactive human engagement and regulatory efforts are needed, reports Oli Buckley of Loughborough University.
Online Published Date:
25 June 2024
Appeared in issue:
August/September 2024 - 01 August 2024
Digital assets and litigation - square pegs in round holes?
Although the cryptoasset marketplace is a hot target for frauds, victims still face uncertainty in the courts over whether their item is 'property', if a third party could be deemed liable and how cryptoassets should be valued. Sarah Murray of Stevens & Bolton discusses some of the legal issues in play.
Online Published Date:
25 June 2024
Appeared in issue:
August/September 2024 - 01 August 2024
Keep out - deterrence (and detection)
Prevention is far better than cure so how to stop bad actors infiltrating the organization in the first place but if they do, which way to find them? Keith Nuthallseeks answers.
Online Published Date:
26 June 2024
Appeared in issue:
August/September 2024 - 01 August 2024
Deeper, wider, faster - AI, risk and predictive analytics
Generative AI is turbo-charging the contest between fraudsters and those intent on stopping them. Sarah Gibbons wants to know where the advantage lies.
Online Published Date:
26 June 2024
Appeared in issue:
August/September 2024 - 01 August 2024
South African legislates failure to prevent corruption offence
Changes to South Africa's anti-graft legislation have come into force - ahead of the country's recent elections, where the ruling African National Congress (ANC) lost its parliamentary majority - addING a new criminal offence of 'failure to prevent corrupt activities' for private sector and state-owned enterprises.
Online Published Date:
27 June 2024
Appeared in issue:
August/September 2024 - 01 August 2024
€1.2 billion EU funds lost to fraud & irregularities in 2023, agency says
Investigations by the European anti-fraud office (OLAF) uncovered more than €1.2 billion in fraud and irregularities in 2023, according to the agency's latest annual report.
Online Published Date:
04 July 2024
Appeared in issue:
August/September 2024 - 01 August 2024
Forward thrust - AI
There's surely nothing artificial about the impact generative AI and machine learning are already having on fraud investigation, even as regulators rush to put guard rails in place. Keith Nuthall caught the energy at the ACFE global conference.
Online Published Date:
09 July 2024
Appeared in issue:
August/September 2024 - 01 August 2024
Tried and tested
A new UK government with a clear mandate for change: what should Labour do about fraud? More of the same probably won't work, says Tristram Hicks, but he points to evidence that an alternative has and suggests it can again.
Online Published Date:
14 July 2024
Appeared in issue:
August/September 2024 - 01 August 2024
Phone scammers targeting UK elderly on "industrial scale"
Elderly adults in the UK are facing an unprecedented wave of telephone fraud, according to a study from the University of Portsmouth, based on over 18 months of research with 1,997 participants.
Online Published Date:
18 July 2024
Appeared in issue:
August/September 2024 - 01 August 2024
Fresh fictions - environmental reporting
Yet new in the corporate accounting field, sustainability measurement is already ripe for abuse. Auditors and investors must pick their way carefully to avoid landing in something nasty, finds Keith Nuthallas he dons his green Wellington boots to join them.
Online Published Date:
19 July 2024
Appeared in issue:
August/September 2024 - 01 August 2024
Audit inspection
Tasked with providing professional opinion on whether the published accounts present a true and fair view of an organisation's financial position, auditors are under increasing pressure to identify and flag potential fraud. Keith Nuthall and Andreia Nogueira report on how they are responding to the challenge.
Online Published Date:
19 July 2024
Appeared in issue:
August/September 2024 - 01 August 2024