- Home/Publications/Fraud Intelligence
Fraud losses from U.S. Covid schemes hit US$36 billion
Fraud losses from the US government's Covid-19 relief programmes hit US$36 billion, or 3% of the US$1.2 trillion funds disbursed, according to a 27 June report from the federal Small Business Administration's (SBA's) Office of Inspector General.
Online Published Date:
06 July 2023
Appeared in issue:
August/September 2023 - 01 August 2023
Ex senior policeman to head UK SFO
Nick Ephgrave, a former assistant commissioner of the Metropolitan Police, is to lead the Serious Fraud Office from September.
Online Published Date:
06 July 2023
Appeared in issue:
August/September 2023 - 01 August 2023
Prison risk for fraud in England & Wales falls 95% in a decade
The incarceration rate for fraud in England and Wales has fallen 95% in a decade, with fewer than one in 3,000 offences ending up with a criminal conviction and prison term, according to analysis by the opposition Labour Party.
Online Published Date:
12 July 2023
Appeared in issue:
August/September 2023 - 01 August 2023
Another twist of the ratchet - the ChatGPT challenge
The advent of large language model (LLM) artificial intelligence systems such as ChatGPT could be a major boon for anti-fraud professionals - but as with any innovative technology, the bad actors will immediately exploit it for illegal gain. Keith Nuthall explores the benefits and risks.
Online Published Date:
14 July 2023
Appeared in issue:
August/September 2023 - 01 August 2023
Sharper, louder - insider calls
Time was when whistleblowing laws were a novelty. No longer - they are increasingly commonplace in developed economy jurisdictions and offer a widening range of protections.Sara Lewis reports from Brussels; Poorna Rodrigo is in Leicester, UK; Keith Nuthall, in Ottawa; and Kathryn Wortley, in Tokyo.
Online Published Date:
14 July 2023
Appeared in issue:
August/September 2023 - 01 August 2023
How does the proposed EU Anti-Corruption Directive compare to the US and UK gold standard?
The European Commission has stepped up its efforts against financial crime with a draft directive to harmonise criminal laws on an expanded set of corruption offences across the bloc. Anneka Randhawa and Darryl Lew of White & Case compare the proposals with the existing United States and United Kingdom regimes.
Online Published Date:
18 July 2023
Appeared in issue:
August/September 2023 - 01 August 2023
When is 'green' a red flag? Identifying eco-fraud and supply chain risks
Risks that businesses and individuals face from eco-fraud are complex and materially different to those arising from conventional frauds. Dan Hyde of Peters & Peters discusses the breadth of exposure as well as approaches to combating a range of threats.
Online Published Date:
18 July 2023
Appeared in issue:
August/September 2023 - 01 August 2023
New report explores handling of fraud risks from B2B relationships
A new benchmarking study finds that most professionals involved in screening and onboarding business customers and vendors are not confident their processes are effective, writes Esther Martin.
Online Published Date:
18 July 2023
Appeared in issue:
August/September 2023 - 01 August 2023
Ropey relics and specious speculation - fraud through the ages
As long as humankind have walked the earth, so have cunning opportunists. Keith Oliver and Caroline Timoney of Peters & Peters lead a whistlestop tour through the nefarious history of fraud - and it is striking that many notorious scams of the past have their counterparts today.
Online Published Date:
18 July 2023
Appeared in issue:
August/September 2023 - 01 August 2023
EU currents - Qatargate fallout pushes anti-graft reforms at European Parliament
The Qatargate scandal continues to encourage the European Parliament and other European Union (EU) institutions to tighten protections against graft and inappropriate influence, especially from non-EU governments. Its key suspect, Greek MEP Eva Kaili, has been under house arrest since May and has (as of July) yet to revisit the parliament, where she remains a full member.
Online Published Date:
27 July 2023
Appeared in issue:
August/September 2023 - 01 August 2023
The SFO annual report - last word on the end of an era
The UK Serious Fraud Office (SFO) has published its final annual report of the Lisa Osofsky era. With the current SFO Director set to leave her post in a matter of weeks, the report, says Francesca Cassidy-Taylor of Rahman Ravelli, serves as a snapshot of the agency as she departs.
Online Published Date:
31 July 2023
Appeared in issue:
October/November 2023 - 02 October 2023