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Hidden agendas - how to counter bias in investigations
Everyone is a product of nature, nurture and experience, which will tend us to points of view and preconceptions that operate against objective, rational analysis of a problem or case. Keith Nuthall asks seasoned investigators how they resist the urge to jump to conclusions.
Online Published Date:
10 March 2023
Appeared in issue:
June/July 2023 - 01 June 2023
When litigating a fraud claim...
The costly and time-consuming process of litigation is always a last resort, with 90 per cent of civil claims reaching settlement before judgment. But, if approached from the outset with a clear strategy, a sound evidential basis and a clinical approach amid a fraught situation, each party can achieve the best of settlement outcomes. PwC's Carla Matthews walks us through the process.
Online Published Date:
25 March 2023
Appeared in issue:
June/July 2023 - 01 June 2023
EU honey probe reveals almost half of import samples contain impurities
Better analytical capabilities should be implemented to reduce the incidence of adulterated honey imported into the European Union (EU), industry observers claim, after a testing programme revealed almost half of the samples were fraudulently labelled.
Online Published Date:
29 March 2023
Appeared in issue:
June/July 2023 - 01 June 2023
UK failing to tackle fraud on government, which spiralled during Covid-19 - NAO
The UK government is failing to deal effectively with fraud across all departments, according to the latest report from theNational Audit Office (NAO).
Online Published Date:
05 April 2023
Appeared in issue:
June/July 2023 - 01 June 2023
UK government sets out new failure to prevent fraud offence
Large "bodies corporate and partnerships" will need to ensure they have "reasonable procedures" in place to prevent fraud committed for their benefit by an employee or agent, or potentially face an unlimited fine, under an amendment to the Economic Crime and Transparency Bill going through the UK Parliament.
Online Published Date:
12 April 2023
Appeared in issue:
June/July 2023 - 01 June 2023
'Frank' founder charged with hiking customer numbers in U$$175m JPMorgan deal
Charlie Javice, founder of shuttered New York-based student loan assistance company 'Frank', is facing both civil and criminal charges in parallel cases brought by the United States Securities &Exchange Commission (SEC) and Department of Justice (DoJ) over alleged fake customer numbers.
Online Published Date:
13 April 2023
Appeared in issue:
June/July 2023 - 01 June 2023
Tax fraud - a new sentence and a new era?
The fact that tax fraud appears to have caught the eye of the government should perhaps come as no surprise, says Nicola Sharp of Rahman Ravelli, but doubling of the maximum prison sentence for the offence is a notable development.
Online Published Date:
20 April 2023
Appeared in issue:
June/July 2023 - 01 June 2023
Spiralling undetected tenancy fraud in England's social housing, study finds
The UK's Fraud Advisory Panel has warned that British government failure to monitor and fight public housing tenancy fraud means 76% of such scams go undetected in England, costing more than UK£500 million (US$619 million) in unnecessary social housing spending during 2019-20.
Online Published Date:
26 April 2023
Appeared in issue:
June/July 2023 - 01 June 2023
Late start - the UK Fraud Strategy
Delayed by wrangling over whether big tech should have to compensate victims of scam content on their platforms - no is the answer - the UK government published its Fraud Strategy on 3 May.
Online Published Date:
04 May 2023
Appeared in issue:
June/July 2023 - 01 June 2023
MPs challenge UK government over minimal recovery of Covid support fraud losses
The UK government has recovered just UK£10 million (US$12.5 million) of the suspected UK£2.2 billion (US$2.75 billion) lost in fraudulent or erroneous payments under its Covid-19 business support schemes, according to the House of Commons public accounts committee (PAC).
Online Published Date:
04 May 2023
Appeared in issue:
June/July 2023 - 01 June 2023
Calculated risk - financial statement manipulation and detection
In an economic downturn, the pressure to 'fix the figures' may prove hard to resist, perhaps rationalised as just to get through a difficult patch - whatever, it's still wrong. Keith Williamson of Alvarez & Marsal considers some of the many ways accounts can be falsified.
Online Published Date:
09 May 2023
Appeared in issue:
June/July 2023 - 01 June 2023
EU directive proposals address corruption in member states and worldwide
The European Union (EU) is to secure harmonised penalties and criminalisation of corruption offences across the 27-nation bloc and a global sanctions regime potentially punishing graft elsewhere in the world, under proposals unveiled on 3 May.
Online Published Date:
11 May 2023
Appeared in issue:
June/July 2023 - 01 June 2023
Fine art - how to question suspects
Interview techniques may vary but in a civil context, as opposed to military interrogation, at least, Keith Nuthalllearns there are sound practical, as well as potential legal, reasons for adopting a non-confrontational approach.
Online Published Date:
11 May 2023
Appeared in issue:
June/July 2023 - 01 June 2023
UK banks report over UK£1.2 billion payment fraud losses in 2022
British banking trade organisation UK Finance reports that the value of losses to payment fraud exceeded UK£1.2 billion (US$1.5 billion) in 2022, down marginally from UK£1.3 billion (US$1.6 billion) in 2021.
Online Published Date:
18 May 2023
Appeared in issue:
June/July 2023 - 01 June 2023
Snakes in the metaverse
New virtual worlds and gaming facilities - which are attracting huge numbers of Generation Z players - are no fraud-free paradise. Jemma Fleetwood of JMW Solicitors explores emerging scams in the space, along with other cybercrime trends and UK legal developments.
Online Published Date:
22 May 2023
Appeared in issue:
June/July 2023 - 01 June 2023
Fraud in a time of economic challenge
As media headlines chronicle inflation, cost-of-living misery, bank collapses and commodity supply issues, what knock-on effects can we anticipate in relation to the financial crime threat? Ros Prince and Peter Dalton of Stephenson Harwood analyse the outlook.
Online Published Date:
22 May 2023
Appeared in issue:
June/July 2023 - 01 June 2023
The way forward for the SFO
A series of highly-publicised failures have underscored the UK Serious Fraud Office's struggles with a disclosure regime designed for the pre-digital age. Today, a standard case for the prosecutor involves wresting with millions of digital files held across multiple devices. Dr Susan Hawley and Dr Helen Taylor of Spotlight on Corruption discuss proposals for disclosure reform as well as make recommendations for resourcing and oversight.
Online Published Date:
22 May 2023
Appeared in issue:
June/July 2023 - 01 June 2023
Lessons from a life in international investigations
He has travelled to 103 countries, worked for prestigious cross-border institutions and investigated many types of crime, including fraud, corruption, money laundering, domestic and international terrorism and its financing, UN sanctions violations, war crimes, sexual offences and wildlife crime. Harjit Sandhu of Canvass Research and Investigations distils some of the key learnings of his 40-year career.
Online Published Date:
22 May 2023
Appeared in issue:
June/July 2023 - 01 June 2023
Unreal? - synthetic identity, actual cost
A compromised email may originate a scatter-blast of small online thefts but, with more patience, it can form the core of a whole new persona, in which fact and fiction are merged to deceive at a deeper level, for longer. Keith Nuthall explores next-level identity fraud.
Online Published Date:
22 May 2023
Appeared in issue:
June/July 2023 - 01 June 2023
AI in Audit - quantum leap?
No more need for sampling and every anomaly identified: surely artificial intelligence is 'the answer' to audit. Not exactly, finds Keith Nuthall.
Online Published Date:
22 May 2023
Appeared in issue:
June/July 2023 - 01 June 2023
SFO "on track" to implement all Altman recommendations
The UK Serious Fraud Office (SFO) says that it is "on track" to implement in full all Brian Altman KC's July 2022 recommendations for improvement after its failure to disclose key evidence led to the collapse of the high-profile trial against two Serco executives in April 2021.
Online Published Date:
01 June 2023
Appeared in issue:
June/July 2023 - 01 June 2023