i-law

Fraud Intelligence

Crypto criminals netted US$24.2 billion in 2023, says Chainalysis

Crypto criminals netted at least US$24.2 billion worldwide in 2023 from scams, hacking, ransomware and other illicit uses of cyberspace, according to preliminary findings by American blockchain consultants Chainalysis.
Online Published Date:  07 March 2024

UK side payments to Saudis for defence contracts spotlit in trial

British government complicity in a Saudi Arabia corruption scandal saw two accused acquitted in London's Southwark Crown Court on 6 March, despite both admitting to paying bribes to secure defence contracts.
Online Published Date:  14 March 2024

Untrue to type - fraudster traits

Are there tell-tale and fail-safe signs of future, or current, dishonesty on which we can rely? Paul Cochrane and Keith Nuthallgo in search.
Online Published Date:  14 March 2024

Trust in balance - control checks

However high fraud levels are, there are limits on the checks that can be performed, or business and public administration would seize up entirely. Indeed, with the increasing influence of risk-based approaches in fighting crime, Keith Nuthalldiscovers that an optimal anti-fraud strategy is as much about choosing what to trust as what to suspect.
Online Published Date:  15 March 2024

Same and different - crypto

Cryptocurrency-based scams are often just a new twist on tried and tested schemes involving fiat currency, but the increasing variety and complexity of virtual asset offerings do also present fresh opportunities for bad actors, finds Keith Nuthall.
Online Published Date:  15 March 2024

The fraud prevention jigsaw

Scammers leave their footprint across the various infrastructure channels that are necessary to perpetrate their scheme. So, how can we piece together information about their trail, to stop fraudsters in their tracks? Mark Tierney reports on steps to quit playing whack-a-mole and take a systematic approach.
Online Published Date:  19 March 2024

Occupational fraud costs organisations 5% of annual revenue - ACFE survey

Occupational fraud is costing private and publicorganisations worldwide 5% of their annual revenue, with losses topping US$1 million in 22% of cases and averaging US$1.7 million, according to the latest global survey from the Association of Certified Fraud Examiners (ACFE).
Online Published Date:  20 March 2024

EU currents - law enforcement gains cross-border momentum; VAT fraud blitz

The effectiveness of collaboration by national and international law enforcement agencies has been demonstrated by recent raids and arrests in the European Union (EU).
Online Published Date:  21 March 2024

SFO and company lawyers discuss ECCTA exposure

The United Kingdom's new Economic Crime and Corporate Transparency Act (ECCTA) leaves companies significantly more vulnerable to committing a primary offence as well as to an omission in preventing an array of fraud categories. Experts at the Association of Certified Fraud Examiners (ACFE) Europe conference in March discussed the ramifications, reports Esther Martin.
Online Published Date:  21 March 2024

Practical steps for internal investigations

When potential wrongdoing is raised in an organisation, experience proves that a structured and phased approach, rather than knee-jerk reactions, will achieve the best results. Caroline Day and Matthew Burn of Kingsley Napley set out a plan of action and key legal considerations.
Online Published Date:  21 March 2024

Combined strength - class actions

Litigation is expensive so it makes sense for fraud victims to pool resources and/or pursue resolution on a contingency fee basis. Keith Nuthallexamines current class suit trends and recent standout cases.
Online Published Date:  26 March 2024

EU adopts anti-SLAPPs directive

The European Union (EU) has approved a directive that will restrict the use of so-called 'strategic lawsuits against public participation' (SLAPPs), where rich individuals bringlegal cases to silence critics or prevent journalists from investigating wrongdoing.
Online Published Date:  26 March 2024

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