Fraud Intelligence

A major UK multi-police force counter-fraud operation has arrested 438 suspects and seized almost UK£14 million (US$17.7 million) in cash and assets.

International commodity trading conglomerate Trafigura has been fined almost US$127 million in a US court after admitting to bribing officials at Brazilian state oil company Petrobras, between 2003 and 2014, to gain and retain business, violating the USA Foreign Corrupt Practices Act (FCPA).

A novel and audacious fraud on the English courts has recently come to light, after a purported Kuwaiti arbitration award that a High Court judge ordered to be enforced was revealed to be an "out-and-out fabrication". Neil Newing of Signature Litigation examines the case and potential holes in the arbitral enforcement process.

Campaign groups Spotlight on Corruption and Transparency International UK are calling for Britain's National Audit Office (NAO) to probe the country's Ministry of Defence (MoD) involvement in a British-Saudi bribery scandal.

The US Department of Justice (DoJ) has launched a self-disclosure programme, offering some fraudsters immunity from prosecution if they own up to their wrongdoing before they are caught.