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ENISA calls for EU forum to fight virtual world fraud
The European Network and Information Security Agency (ENISA) has called for the establishment of an IT industry forum to fight fraud in virtual worlds and so-called massively-multiplayer online games, such as Second Life and World of Warcraft.
This..
Online Published Date:
15 December 2008
Appeared in issue:
Dec 08 / Jan 09 - 01 December 2008
Drugs pricing-fixing case halted after eight years
‘Operation Holbein’, the case against five pharmaceutical companies and nine executives accused of conspiring to defraud the UK National Health Service by fixing the price of generic drugs between 1996 and 2000, has ended after the..
Online Published Date:
15 December 2008
Appeared in issue:
Dec 08 / Jan 09 - 01 December 2008
Tax Directive loophole to close
The European Commission has proposed closing a loophole in the European Union’s (EU) Savings Tax Directive with the aim of reducing tax evasion. The legislation has mandated since 2005 the circulation of savings account information between EU..
Online Published Date:
15 December 2008
Appeared in issue:
Dec 08 / Jan 09 - 01 December 2008
Kickback
New draft legislation, additional law enforcement resource, even a prosecution or two – will the OECD, let alone the US, be satisfied with the UK’s tougher stance on bribery? Neill Blundell of Eversheds considers.
Online Published Date:
15 December 2008
Appeared in issue:
Dec 08 / Jan 09 - 01 December 2008
Key non-EU countries’ accounting systems meet international standards
The accounting systems of six major economies are equivalent to International Financial Reporting Standards (IFRS) as adopted by the European Union (EU), the European Securities Committee has ruled. One aim of ensuring the USA, Japan, China,..
Online Published Date:
15 December 2008
Appeared in issue:
Dec 08 / Jan 09 - 01 December 2008
Asset recovery call by European Commission
A European Commission policy paper (Communication) has called for swift action by European Union (EU) member states to ensure that effective ‘asset recovery offices’ are operating in all 27 member states, tracing criminal assets and..
Online Published Date:
15 December 2008
Appeared in issue:
Dec 08 / Jan 09 - 01 December 2008
Member states may answer to OLAF over inquiry follow-ups
European Union (EU) member states could be required to keep EU anti-fraud office OLAF informed about progress their law enforcement agencies make in response to its reports highlighting financial crimes. This proposal has been written by the..
Online Published Date:
15 December 2008
Appeared in issue:
Dec 08 / Jan 09 - 01 December 2008
EU auditors bemoan continued financial mismanagement and corruption – but at least the books are straight
The European Court of Auditors has again criticised the extent of fraud and mismanagement in European Union (EU) spending and institutions but it has – at last – confirmed that the EU’s accounts are accurate. For the first time..
Online Published Date:
15 December 2008
Appeared in issue:
Dec 08 / Jan 09 - 01 December 2008
Magnificent Seven – case notes from 2008
As the year draws to a close, Laurence Katz of Holman Fenwick Willan looks back at some of the notable cases to have occupied the English courts in 2008.
Online Published Date:
15 December 2008
Appeared in issue:
Dec 08 / Jan 09 - 01 December 2008
Healthcare – lessons from the US
“The man who is admired for the ingenuity of his larceny is almost always rediscovering some earlier form of fraud. The basic forms are all known, have all been practiced. The manners of capitalism improve. The morals may not.” – John Kenneth Galbraith, American Economist
Online Published Date:
15 December 2008
Appeared in issue:
Dec 08 / Jan 09 - 01 December 2008
The tax noose tightens
The Organisation for Economic Cooperation and Development (OECD) is losing patience with jurisdictions that refuse to ‘play the taxation game’ by its rules, writes Andrew Watt of Alvarez & Marsal.
Online Published Date:
15 December 2008
Appeared in issue:
Dec 08 / Jan 09 - 01 December 2008
Corruption: a new construction
Mere months later (although admittedly after a lengthy investigation), the SFO announced that it had obtained its first such success – a civil recovery order for UK£2.25m against Balfour Beatty plc for “inaccurate payment records arising from certain payment irregularities.” This was a ground-breaking move, and the use of civil powers to settle potentially criminal matters mirrors one of the more positive elements of US justice. So where does it leave a business that operates internationally?
Online Published Date:
15 December 2008
Appeared in issue:
Dec 08 / Jan 09 - 01 December 2008
Boiled dry
Richard Alderman, Director of the Serious Fraud Office, has pledged to protect vulnerable consumers in the UK from fraud [1], with a special emphasis on targeting ever-increasing boiler-room scams. But how will he do this? David McCluskey and Ruth Lane of Peters & Peters discuss potential problems in recovering victims’ funds.
Online Published Date:
15 December 2008
Appeared in issue:
Dec 08 / Jan 09 - 01 December 2008