i-law.com - Newsletter (Fraud Intelligence)

Petrofac fined UK£77 million over Middle East bribes

By Sara Lewis

Online Published Date: 05 October 2021

Appeared in issue: December 2021/January 2022 - 05 December 2021

EPPO urgently needs 130 more staff, Kövesi tells MEPs

By Sara Lewis, in Brussels

Online Published Date: 07 October 2021

Appeared in issue: December 2021/January 2022 - 05 December 2021

The origins and relevance of Cressey’s Fraud Triangle

Peter Tickneris a freelance consultant, fraud investigator and academic as well as the author of a number of books on fraud investigation. He was director of internal audit for the Metropolitan Police Service in the UK from 1995 to 2009. Peter has recently obtained a doctorate at the University of Portsmouth’s Institute of Criminal Justice Studies around his methodology for investigating fraud in the public sector. This article on the origins of the Cressey Fraud Triangle has also appeared in the Public Sector Counter Fraud Journal, July 2021, and is summarised from an academic paper written by Dr Peter Tickner and Professor Mark Button [5].

Online Published Date: 07 October 2021

Appeared in issue: December 2021/January 2022 - 05 December 2021

Whistleblowing in the EU – challenges for international corporations

Marjorie Holmes (+44 (0)20 3116 2986, mholmes@reedsmith.com) is a London-based partner, Michaela Westrup (+49 (0)89 20304 10, mwestrup@reedsmith.com) is counsel in the Munich office and Olga Kacprzak is a trainee, at law firm Reed Smith.

Online Published Date: 07 October 2021

Appeared in issue: December 2021/January 2022 - 05 December 2021

US Government broadens its targets under False Claims Act

Laura Perlov (+1 303 866 0421 / +1 212 541 2121, laura.perlov@bclplaw.com) and Andrey Spektor (+1 212 541 2085, andrey.spektor@bclplaw.com) are litigation partners at Bryan Cave Leighton Paisner, where Laura co-chairs the False Claims Act Practice. Marcia Levitan-Haffar, a summer associate, contributed to this article.

Online Published Date: 07 October 2021

Appeared in issue: December 2021/January 2022 - 05 December 2021

Lie detech

Accelerating developments in machine learning and artificial intelligence hold out the prospect of enhanced lie detection but a strong body of opinion maintains that the face-to-face interview is still the best way to uncover deceit. Keith Nuthall..

Online Published Date: 07 October 2021

Appeared in issue: December 2021/January 2022 - 05 December 2021

Navigating through tenders – the belts and boat case

Anna Kon CIA, CFE, CRMA is a Head of Internal Audit based in Tallinn, Estonia. She may be contacted onanna.kon4@gmail.com.

Online Published Date: 07 October 2021

Appeared in issue: December 2021/January 2022 - 05 December 2021

Family fraud is unexplored risk, report warns

By Sara Lewis

Online Published Date: 14 October 2021

Appeared in issue: December 2021/January 2022 - 05 December 2021

Corporate bribery: a significant conviction

Omar Qureshi (+44 (0)20 7367 2573, omar.qureshi@cms-cmno.com) and Eoin O’Shea (+44 (0)20 7367 2366, eoin.oshea@cms-cmno.com) are partners and Amy Wilkinson (+44 (0)20 7367 3331, amy.wilkinson@cms-cmno.com) a senior associate at CMS in London.

Online Published Date: 14 October 2021

Appeared in issue: December 2021/January 2022 - 05 December 2021

SIFting out

Greg Woolf is the founder and CEO of FiVerity (www.fiverity.com).

Online Published Date: 20 October 2021

Appeared in issue: December 2021/January 2022 - 05 December 2021

More enforcement, better targeted support, recommends UK Victims’ Commissioner, as one million lose to fraud

By Sara Lewis

Online Published Date: 21 October 2021

Appeared in issue: December 2021/January 2022 - 05 December 2021

Credit Suisse to pay US$475m over corrupt Mozambique deals, plus restitution

The global investment bank has agreed a penalty totalling US$475 million with United States and United Kingdom regulators; moreover, it will forgive US$200m of debt owed by Mozambique – because it defrauded investors in the financing of coastal..

Online Published Date: 22 October 2021

Appeared in issue: December 2021/January 2022 - 05 December 2021

Don’t make a Goose out of a Black Swan: Norwich Pharmacal relief after Broad Idea No. 2

Julie Engwirda (+8525806 7919, julie.engwirda@harneys.com)is a Partner; and Phillip Kite (+44 203 752 3601, phillip.kite@harneys.com)is Co-head of Litigation, Insolvency and Restructuring at Harneys.

Online Published Date: 27 October 2021

Appeared in issue: December 2021/January 2022 - 05 December 2021

Accounting bodies advance ideas to improve auditor response to fraud

By Sara Lewis

Online Published Date: 28 October 2021

Appeared in issue: December 2021/January 2022 - 05 December 2021

Should there be a legal duty to report fraud?

Dr Janice Goldstraw-White (j.goldstraw-white@perpetuityresearch.com) is a researcher for Perpetuity Research (http://perpetuityresearch.com) and has published widely in the area of economic crime. Her book, entitled ‘White-Collar Crime: Accounts of Offending Behaviour’, was published in 2011.Professor Martin Gill is the Director of Perpetuity Research (http://perpetuityresearch.com), as well as holding honorary/visiting chairs at the Universities of Leicester and London. He is the author of 14 books, with the third edition of the ‘Handbook’ of Security’ due to be published in Spring 2022.

Online Published Date: 01 November 2021

Appeared in issue: December 2021/January 2022 - 05 December 2021

UK Joint Fraud Taskforce relaunched to reverse rising crimes

By Andreia Nogueira

Online Published Date: 02 November 2021

Appeared in issue: December 2021/January 2022 - 05 December 2021

Mindfield – tread warily

Nature, nurture – which is more important? The debate is age-old and so the answer remains, ‘It depends’. Keith Nuthall finds little doubt amongst professionals, though, that some individuals are predisposed to commit fraud. Psychological..

Online Published Date: 08 November 2021

Appeared in issue: December 2021/January 2022 - 05 December 2021

Has the music stopped for carousel fraudsters?

Rachel Clark (www.33knowledge.com/rachel-clark) is a barrister at 33 Chancery Lane, specialising in financial wrongdoing matters, particularly those involving a tax element. This article was drafted during her time as an employed barrister at Bright Line Law.

Online Published Date: 08 November 2021

Appeared in issue: December 2021/January 2022 - 05 December 2021

Ways and means – fixing fraud enforcement

Rachel Adamson (0330 111 2814, rachel.adamson@lawyersinc.org) is Head of Fraud and Regulatory at Adkirk Law.

Online Published Date: 13 November 2021

Appeared in issue: December 2021/January 2022 - 05 December 2021

Will a new bill call time on fraudulent directors?

Tim Carter (+44 (0)1483 734248, tim.carter@stevens-bolton.com) is a partner and Helen Martin (+44 (0)1483 406487, helen.martin@stevens-bolton.com) an associate at Stevens & Bolton LLP.

Online Published Date: 15 November 2021

Appeared in issue: December 2021/January 2022 - 05 December 2021

Business as usual? – bribery

Rolls-Royce, Unaoil, Petrofac, football association FIFA, the Gupta family in South Africa – all names linked to multi-million dollar bribery scandals in recent years, despite increasingly tough anti-graft laws around world. Bribery remains rife,..

Online Published Date: 16 November 2021

Appeared in issue: December 2021/January 2022 - 05 December 2021