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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
Nine in ten whistleblower lines take anonymous reports but under half of organisations train on non-retaliation, survey finds
An effective whistleblower hotline programme requires trust, with the option to report anonymously at any time, through various channels, preferably to an independent external third party, according to a study by the Association of Certified Fraud Examiners (ACFE) and the Institute of Internal Auditors (IIA).
Online Published Date:
23 May 2023
Appeared in issue:
August/September 2023 - 01 August 2023
Warning: smartphone face recognition can be tricked with photo
The UK consumer associationWhich?is warning that facial recognition security checks on smartphones from Honor, Motorola, Nokia, Oppo, Samsung, Vivo and Xiaomi can be spoofed with a simple 2D photo.
Online Published Date:
24 May 2023
Appeared in issue:
August/September 2023 - 01 August 2023