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US or UK - prosecution by DOJ or SFO?
Joshua Ray (+44 (0)203 947 1539, joshua.ray@rahmanravelli.co.uk) is of counsel and a legal director at Rahman Ravelli.
Online Published Date:
14 September 2020
Appeared in issue:
December 2020/January 2021 - 01 December 2020
Governments and banks failing to tackle financial crime, says UN
BySara Lewis
Online Published Date:
01 October 2020
Appeared in issue:
December 2020/January 2021 - 01 December 2020
UK small business bounce back loan scheme at “very high” fraud risk, NAO confirms
A UK government-backed loan scheme to help small businessesstruggling due to Covid-19 was launched in such a hurry, on 4 May [2020], thatit was not until 2 June, almost a month later, that a methodology to preventduplicate applications was..
Online Published Date:
07 October 2020
Appeared in issue:
December 2020/January 2021 - 01 December 2020
Europol tracks cybercrime innovation under Covid-19
BySara Lewis, in Brussels
Online Published Date:
08 October 2020
Appeared in issue:
December 2020/January 2021 - 01 December 2020
Informa Law to resume printing & distribution of Fraud Intelligence
Followingthe temporary halt to our normal printing and distribution of Fraud Intelligencedue to the Coronavirus pandemic, Informa Law is pleased to confirm that thehardcopy publication will begin to be distributed again from 1 January 2021.Customers..
Online Published Date:
09 October 2020
Appeared in issue:
December 2020/January 2021 - 01 December 2020
UK SFO director calls for failure to prevent fraud and tipping off investigation targets to be crimes
By Sara Lewis
Online Published Date:
15 October 2020
Appeared in issue:
December 2020/January 2021 - 01 December 2020
Corporate criminal liability and the Barclays case: what are the lessons?
John Binns (+44 (0)20 7430 2277, jbinns@bcl.com) and Harry Travers (+44 (0)20 7430 2277, htravers@bcl.com) are partners at BCL Solicitors LLP, specialising in financial crime, money laundering and sanctions.
Online Published Date:
17 October 2020
Appeared in issue:
December 2020/January 2021 - 01 December 2020
Biggest exporters are worst at foreign bribery enforcement
By Sara Lewis
Online Published Date:
22 October 2020
Appeared in issue:
December 2020/January 2021 - 01 December 2020
Goldman Sachs to pay over US$2.9 billion for 1MDB bribery and compliance failures
Goldman Sachs has reached a US$2.9 billion global settlement with prosecutors and regulators in five jurisdictions over its role in bribing public officials and in the alleged embezzlement of more than US$2.7 billion from the proceeds of bond..
Online Published Date:
23 October 2020
Appeared in issue:
December 2020/January 2021 - 01 December 2020
UK furlough fraud and error payments estimated up to UK£3.9bn by 20 September
Fraudand error in payments made under the UK Coronavirus Job Retention Scheme (CJRS)may have reached UK£3.9 billion, working on 10% of total disbursements ofUK£39.3 billion to 20 September [2020], according to HM Revenue & Customs.The National..
Online Published Date:
23 October 2020
Appeared in issue:
December 2020/January 2021 - 01 December 2020
Auditors would seek ‘reasonable assurance’ on fraud under UK proposals
The UK’s Financial Reporting Council (FRC) is proposing a revision [1] to auditing standards that would require auditors “to obtain reasonable assurance” that a client’s financial statements “are free from material misstatement due to fraud”.The..
Online Published Date:
29 October 2020
Appeared in issue:
December 2020/January 2021 - 01 December 2020
UK government puts off reform of corporate liability for economic crime
Three and a half years after calling for evidence on the need for reform of corporate liability for economic crime, the UK government reported on 3 November [2020] that in the absence of any “new significant examples” of problems with the existing..
Online Published Date:
04 November 2020
Appeared in issue:
December 2020/January 2021 - 01 December 2020
Something old and something new - UK SFO 2020 DPA Guidance
Sacha Harber-Kelly (+44 (0)20 7071 4205, sharber-kelly@gibsondunn.com) is a partner and Steve Melrose (+44 (0)20 7071 4219, smelrose@gibsondunn.com) an associate at Gibson Dunn. Mr Harber-Kelly is a former prosecutor at the SFO and was appointed to lead the SFO’s engagement in the cross-governmental working group which devised the DPA legislative framework, and subsequently appointed to draft the DPA Code of Practice, which sets out how prosecutors will operate the DPA regime.
Online Published Date:
04 November 2020
Appeared in issue:
December 2020/January 2021 - 01 December 2020
Airline Services Ltd agrees UK DPA over Lufthansa agent bribery, pays nearly UK£3m
By Sara Lewis
Online Published Date:
05 November 2020
Appeared in issue:
December 2020/January 2021 - 01 December 2020
DPA 9 – what can we learn?
Aziz Rahman (+44 (0)203 911 9339, aziz.rahman@rahmanravelli.co.uk)is senior partner at Rahman Ravelli.
Online Published Date:
05 November 2020
Appeared in issue:
December 2020/January 2021 - 01 December 2020
Bombardier in aircraft sales bribery probe by UK SFO
Canadian aircraft and train maker Bombardier is underinvestigation by the UK’s Serious Fraud Office over possible bribery connectedwith the sale of planes to Garuda, Indonesia’s national carrier, in 2011-12, theprosecuting agency announced on 5..
Online Published Date:
06 November 2020
Appeared in issue:
December 2020/January 2021 - 01 December 2020
Informa Law resumes printing and distribution of Fraud Intelligence
Following the temporary halt to our normal printing and distribution of Fraud Intelligence due to the coronavirus pandemic, Informa Law is pleased to confirm that hard copy publication will begin to be distributed again from 1 January 2021 in line..
Online Published Date:
10 November 2020
Appeared in issue:
December 2020/January 2021 - 01 December 2020
SEC in multi-million dollar payouts to US whistleblowers
By Sara Lewis
Online Published Date:
12 November 2020
Appeared in issue:
December 2020/January 2021 - 01 December 2020
UK cartel enforcement – another false dawn?
Richard Sallybanks (+44 (0)20 7430 2277, rsallybanks@bcl.com) is a partner and Alex Swan (+44 (0)20 7430 2277, aswan@bcl.com) a senior associate at BCL Solicitors LLP.
Online Published Date:
18 November 2020
Appeared in issue:
December 2020/January 2021 - 01 December 2020
Swiss align tax and criminal law on bribery
By Sara Lewis
Online Published Date:
23 November 2020
Appeared in issue:
December 2020/January 2021 - 01 December 2020
Aftermath – attention turns to Covid-relief abuse
Rachel Cook (+44 (0)20 7822 7772, rcook@petersandpeters.com) is a senior associate at Peters & Peters
Online Published Date:
24 November 2020
Appeared in issue:
December 2020/January 2021 - 01 December 2020
Factoring the human element in cybersecurity
Paul Benedekis director as well as cloud privacy and data breach consultant for Excis Networks Ltd (www.excis.co.uk). Contact him oncontact@excis.co.uk.
Online Published Date:
24 November 2020
Appeared in issue:
December 2020/January 2021 - 01 December 2020
Integrating fraud testing into your audit programme
Leonard W Vona (www.leonardvona.com) has more than 38 years of diversifiedauditing and forensic accounting experience. His firm, Fraud Auditing, Inc.,advises clients in areas of litigation support, financial investigations andfraud prevention.
Online Published Date:
24 November 2020
Appeared in issue:
December 2020/January 2021 - 01 December 2020
Digital spread – identity fraud
Coronavirus has boosted online engagementwith a slew of new account applications across financial services and otherbusiness sectors, including from hijacked and synthetic IDs. Sarah Gibbonslooks at how firms are distinguishing between genuine..
Online Published Date:
24 November 2020
Appeared in issue:
December 2020/January 2021 - 01 December 2020
Off-message – text risk
A short text message with a link may yield moreto the criminal than a phishing email campaign, which has to overcome bothfilter defences and greater user awareness. Keith Nuthall reports.Text fraud is arguably more dangerous thanemail fraud, given..
Online Published Date:
24 November 2020
Appeared in issue:
December 2020/January 2021 - 01 December 2020
Cross-border currents - EU auditors say change bloc spending model to counter fraud and error
ByKeith Nuthall
Online Published Date:
25 November 2020
Appeared in issue:
December 2020/January 2021 - 01 December 2020
Bring it on – the European chief prosecutor is ready
Report by Sara Lewis.
Online Published Date:
25 November 2020
Appeared in issue:
December 2020/January 2021 - 01 December 2020
Covid-19 hastens take-up of digital fraud tech in banks
Steven D’Alfonso is a research director with IDC Financial Insights (www.idc.com/prodserv/insights/#financial) responsible for compliance, fraud and risk analytics strategies.
Online Published Date:
25 November 2020
Appeared in issue:
December 2020/January 2021 - 01 December 2020
Investigations – working around homeworking
Christopher David (+44 (0)207 872 1015, christopher.david@wilmerhale.com) is counsel in the UK White Collar Defence and Investigations practice at WilmerHale.
Online Published Date:
25 November 2020
Appeared in issue:
December 2020/January 2021 - 01 December 2020
Poor documentation plagued UK’s PPE procurement finds report
Esther Martin (esther.martin@informa.com), Assistant Editor
Online Published Date:
26 November 2020
Appeared in issue:
December 2020/January 2021 - 01 December 2020