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Reactive - resistance builds to APP fraud
Authorised push payment (APP) fraud, in which someone is tricked into sending money to a party posing as a genuine payee, is proving a lucrative form of theft but Keith Nuthall finds that changes in compensation rules, data pooling by financial institutions and better risk profiling are starting to drive an effective response.
Online Published Date:
06 September 2023
Appeared in issue:
October/November 2023 - 02 October 2023
US whistleblower receives US$69 million after former employer settles claim it overcharged government
An American whistleblower has said she warned her former employer, Booz Allen Hamilton Holding Corporation, of its wrongdoing before suing it on behalf of the US government, then receivinga US$69,828,832 reward for exposing procurement fraud.
Online Published Date:
06 September 2023
Appeared in issue:
October/November 2023 - 02 October 2023
UK government fails to fight wave of fraud on public spending - MPs report
The UK House of Commons Public Accounts Committee has accused the British government of failing to control massive fraud impacting public spending, damaging the UK's reputation for honesty and probity.
Online Published Date:
12 September 2023
Appeared in issue:
October/November 2023 - 02 October 2023
UK government blocks amendments to strengthen Economic Crime bill
The UK Government has missed key opportunities to tackle fraud and firm up the Economic Crime and Corporate Transparency Bill as it progresses through Parliament, says Spotlight on Corruption.
Online Published Date:
14 September 2023
Appeared in issue:
October/November 2023 - 02 October 2023
Look here! - signs of deceit & dishonesty
Fraud investigators are often meticulous and driven, building a case for their employers that may end up in court - but what red flags might spark an initial inquiry? Keith Nuthall finds out.
Online Published Date:
15 September 2023
Appeared in issue:
October/November 2023 - 02 October 2023
More than equal - female financial criminals
White collar crime has long been viewed as a male pursuit, with women only occasional, usually bit part players, but thorough interrogation of the US federal convictions for embezzlement finds that notion to be wrong in fact. Keith Nuthallexamines a bias in need of correction.
Online Published Date:
17 September 2023
Appeared in issue:
August/September 2023 - 01 August 2023
Mopping up Covid-19 loan fraud contamination
Some of the standard checks and safeguards were thrown to the wind as the UK Government scrambled to prop up small businesses in the early throes of the pandemic. Though fraud estimates vary wildly, they are all in the billions of pounds, and a substantial loan recovery effort is piling on further expense. As hundreds of company directors are struck off for offences related to the schemes, Victoria Dunstall of Excello Law provides an update.
Online Published Date:
18 September 2023
Appeared in issue:
October/November 2023 - 02 October 2023
Failure to prevent fraud: the defence
The current passage of the Economic Crime and Corporate Transparency Bill through the parliamentary process is poised to present companies with a formidable new legislative challenge - the 'failure to prevent fraud' offence. Ben Cooper of TLT sets out what the current rules for bribery and tax evasion offences suggest about the incoming fraud regime.
Online Published Date:
18 September 2023
Appeared in issue:
October/November 2023 - 02 October 2023
Objective order in investigative interviews
Regardless of the extra ingredients you add, a ham and cheese sandwich only needs three items to be a ham and cheese sandwich. Bruce G Pitt-Payne pulls apart the essential components of an investigative interview.
Online Published Date:
19 September 2023
Appeared in issue:
October/November 2023 - 02 October 2023
Weak internal controls: an open door to fraud
In his 40-year career, John Tonsick has conducted countless fraud examinations that could have been prevented, or detected much sooner, through adequate internal controls. Two deficiencies in particular play an outsized role...
Online Published Date:
19 September 2023
Appeared in issue:
October/November 2023 - 02 October 2023
Four charged over Patisserie Valerie collapse
The UK Serious Fraud Office (SFO) has brought fraud charges against four individuals, including a former director, for their role in the October 2018 collapse of high street bakery chain Patisserie Valerie.
Online Published Date:
21 September 2023
Appeared in issue:
October/November 2023 - 02 October 2023
Recharge - fresh start for the SFO
Some attritional legacy cases shut down in time for the new director's arrival, as well as an imminent expansion of legal powers long sought, should set the UK Serious Fraud Office on a positive path. Paul Cochranerings the changes.
Online Published Date:
22 September 2023
Appeared in issue:
October/November 2023 - 02 October 2023
Donald Trump committed fraud by inflating asset values, New York judge rules
Former US President Donald Trump and executives from his company deceived banks, insurers and others repeatedly by exaggerating the value of his assets and net worth, Judge Arthur Engoron has determined at the start of a civil case brought by Letitia James, New York's attorney general.
Online Published Date:
27 September 2023
Appeared in issue:
October/November 2023 - 02 October 2023
UK public sector fraud body saved UK£311 million in first year
The UK's new Public Sector Fraud Authority (PSFA) saved taxpayers UK£311 million (US$377.5 million) in its first year of operation, far outstripping the UK£180 million (US$218 million) target set at its launch in August 2022.
Online Published Date:
28 September 2023
Appeared in issue:
October/November 2023 - 02 October 2023