- Home/Publications/Fraud Intelligence
Plea negotiations plus extended court prevention and compensation powers give prosecutors new edge
Serious and complex fraud trials lasting years may become a legal curio if new plea negotiation guidelines, which come into force on 5 May 2009, prove effective.
A written plea agreement would list all charges, state the facts of the case and..
Online Published Date:
20 April 2009
Appeared in issue:
April/May 09 - 01 April 2009
National Fraud Strategy sets delivery dates
UK£14 billion almost sounds small after the hundreds of billions thrown around in the attempt to avert a new Depression and in the wake of the Madoff Ponzi scam, which, alone, may have netted US$65 billion. It is still a significant number..
Online Published Date:
20 April 2009
Appeared in issue:
April/May 09 - 01 April 2009
No safe haven
The thumbscrews are being turned on the world’s tax havens, preventing their banks hiding assets from tax investigators worldwide, reports Keith Nuthall. A comprehensive communiqué from April 1 and 2s’ G20 meeting in London..
Online Published Date:
20 April 2009
Appeared in issue:
April/May 09 - 01 April 2009
French reserve right to bribe
France has been pressured to lift a reservation to the Council of Europe Criminal Law Convention on Corruption, which allows it to permit its companies to bribe foreign officials. The council’s anticorruption group GRECO notes that France..
Online Published Date:
20 April 2009
Appeared in issue:
April/May 09 - 01 April 2009
Charities pay for poor controls
Only 11% of charities have an anti-fraud policy and 7% have suffered a fraud in the last two years, according to a Fraud Advisory Panel study conducted by accountants Chantrey Vellacott DFK. Half of victims estimated their losses to be under..
Online Published Date:
20 April 2009
Appeared in issue:
April/May 09 - 01 April 2009
Modern times – the new Bribery Bill
On the 25 March 2009, Jack Straw published the new Bribery Bill, which is likely to be enacted later this year. The purpose of the Bill, explains Neill Blundell of Eversheds, is to modernise the currently outdated bribery laws in the UK so that there is a clear legal framework for dealing with and prosecuting corrupt activity, whether committed in the UK or elsewhere.
Online Published Date:
20 April 2009
Appeared in issue:
April/May 09 - 01 April 2009
Truth hurts
Paul van Buitenen, the notorious Brussels whistleblower and sleaze-buster, has announced he will not stand for re-election as an MEP when his current term comes to an end in June. There will be relief amongst the complacent and unworthy in all the..
Online Published Date:
20 April 2009
Appeared in issue:
April/May 09 - 01 April 2009
Turks and Caicos under direct rule after corruption report
Britain has suspended the constitution of its tropical dependent territory the Turks & Caicos Islands after an inquiry concluded its autonomous government was corrupt. The London-appointed governor Governor Gordon Wetherell will assume..
Online Published Date:
20 April 2009
Appeared in issue:
April/May 09 - 01 April 2009
Japan talks hold promise of local evidence
International fraud investigators facing the tough challenge of securing evidence of crimes within Japan may be helped by a new projected mutual legal assistance agreement. The European Commission has received authorisation from the European Union..
Online Published Date:
20 April 2009
Appeared in issue:
April/May 09 - 01 April 2009
Pre-emptive strike
“An ounce of prevention is worth a pound of cure.” Benjamin Franklin was referring to fire prevention and as the founder of Philadelphia’s first fire brigade, he acted on his conviction and undoubtedly saved many lives and much property. Richard Minogue and Nigel Iyer believe the Franklin maxim applies equally to fraud and corruption.
Online Published Date:
20 April 2009
Appeared in issue:
April/May 09 - 01 April 2009
Bribery – the real agenda
Once the new Bill passes through Parliament, are we going to enter a brave new world where the Serious Fraud Office (SFO) and others take up the mandate and boldly prosecute where others have failed to prosecute before? asks Bill Waite, CEO of The Risk Advisory Group.
Online Published Date:
20 April 2009
Appeared in issue:
April/May 09 - 01 April 2009
Private investigators, public traps
Private investigators may be useful for obtaining vital evidence but they need to be carefully managed, warn Andrew Keltie and Nina Moffat of Baker & McKenzie. A salutary example is Hewlett-Packard – the world’s largest PC manufacturer was caught up in a scandal involving boardroom leaks and ‘pretexting’ – while London law firm Mischon de Reya experienced negative publicity following the case of Hughes v Carratu International plc [2006] EWHC 1791.
Online Published Date:
20 April 2009
Appeared in issue:
April/May 09 - 01 April 2009
Not much Eurocop
A little noticed event took place in Brussels last month when the European Union Court of Auditors awarded the president of the European Parliament Hans-Gert Pöttering its annual Gold Medal, citing “the cooperation between the two institutions in safeguarding the interests of the European taxpayers.” Now the diligent observer of EU financial controls might have wondered about this, writes David Haworth from Brussels. After all, the Court – the EU’s key accounting watchdog - is supposed to be the acme of objectivity, so why is it handing out a mini-me Oscar to the head of a sister organisation?
Online Published Date:
20 April 2009
Appeared in issue:
April/May 09 - 01 April 2009
Tangled tangos
Latin America has long been notorious for its high levels of corruption, especially through money laundering, bribery and the illicit drug trade. Although recent years of relative stability and democratisation in the region have brought economic progress, this has also widened the opportunities for fraud and fuelled its increasing sophistication, as Pacifca Goddard reports from Caracas.
Online Published Date:
20 April 2009
Appeared in issue:
April/May 09 - 01 April 2009