Fraud Intelligence

The Bribery Act 2010 received Royal Assent on 8 April 2010 and finally entered into force over a year later on 1 July 2011. Tony Lewis and Alexandra Underwood of Field Fisher Waterhouse look back over the year since implementation and consider the statute’s impact on UK business and the regulatory environment.

Survey finds graft alive and well in international business Accountants Ernst & Young report that nearly half of chief financial officers (CFOs) worldwide – still struggling with the global economic crisis – would undertake..

Interminable, costly fraud trials, collapsing under the weight of their own complexity and ennui of jurors, exhausted defendants and memory-taxed witnesses, may, finally, be left behind if the Government’s plans for Deferred Prosecution Agreements (DPAs) are accepted.

It makes a change to hear about people making money out of fraudsters, instead of the other way around. Yet Dominic Auld, a US-based securities fraud class action litigator, does just that – while helping deceived investors to gain redress. He explains how to Esther Martin.

Former Satyam chairman Ramalinga Raju declared in relation to the IT services company’s fraudulently inflated revenues and profits that it “was like riding a tiger, not knowing how to get off without being eaten”. Keith Williamson, a forensic accountant and managing director at Alvarez & Marsal, examines some recent financial statement fraud scandals, considers whether accounting fraudsters have learned new ways of riding the tiger, and discusses how those seeking to prevent and detect their activities can cause them to topple.

An uneasy silence persists between the investment community and its regulators following comments by former Serious Fraud Office (SFO) director, Richard Alderman, after the Mabey & Johnson civil recovery order in January this year. [1] Andrew Oldland QC of Michelmores LLP explains the tension.

On the face of it the record is impressive: in the past 12 months Italian customs officials and other law enforcement have carried out raids on counterfeiters from Milan in the north to Taranto in the south, seizing millions of euros’ worth..